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Solar PV Mounting Systems Market Segmentation by Type (Rooftop, and Ground Mounted); by End User (Commercial, Industrial, Residential, and Utility); by Technology (Fixed, and Tracking) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Solar PV Mounting Systems Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

· July 2020: Unirac acquired Ecolibrium Solar, expanding their solar mounting offerings by adding Ecolibrium’s residential rail-less, commercial flat roof, and metal roof products to its product lines.

Solar PV Mounting Systems Market Highlights 2022 – 2030

The solar PV mounting systems market is estimated to grow at a CAGR of ~10% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing investment towards implementation of renewable technologies, growing number of solar projects and rising installation of solar PV mounting systems around the world. According to the Solar Energy Industries Association, in 2020, the cumulative capacity of solar installations was approximately 100,000 megawatts, up from 80,000 megawatts in 2019. Furthermore, adoption of government policies that promote the adoption of solar energy is also expected to boost market growth in the forthcoming years. In addition to these, the high consumption of fossil fuels in the last decades has emerged to be a major concern for the rise of global warming. This factor in turn is projected to provide ample growth opportunities to the market in the near future.

Solar PV Mounting Systems Market Graph

The market is segmented by end user into commercial, industrial, residential, and utility, out of which, the utility segment is anticipated to hold the largest share in the solar PV mounting systems market on account of rising number of high-income driven projects that requires deployment of efficient solar equipment with low operational costs. Along with these, growing investments from public and private institutions for energy targets is also estimated to drive growth to the market segment. Additionally, on the basis of type, the segment for ground mounted solar PV mounting systems is expected to witness the highest growth over the forecast period, which can be credited to the increasing installation of these type of photovoltaic structures in the recent years. CLICK TO DOWNLOAD SAMPLE REPORT  

Major Macro-Economic Indicators Impacting the Market Growth

Electricity Consumption Graph

In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.

Global Solar PV Mounting Systems Market Regional Synopsis

On the basis of geographical analysis, the solar PV mounting systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of rising installation of solar panels in commercial and residential sectors, and favorable government initiatives regarding solar projects. For instance, solar photovoltaic energy capacity in India increased from almost 35,000 megawatts in 2019 to 39,000 megawatts in 2020. Furthermore, Australia alone is expected to account for a large market share in the entire APAC region owing to the huge availability of land creating an immense solar potential in the country. Moreover, the market in Europe is also estimated to observe significant growth during the forecast period ascribing to the high usage of sustainable energy resources in the region.   

The solar PV mounting systems market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the solar PV mounting systems market includes the following segments:

By Type

  • Rooftop
  • Ground Mounted

By End User

  • Commercial
  • Industrial
  • Residential
  • Utility

By Technology

  • Fixed
  • Tracking

Growth Drivers

  • Growing Investments for Adoption of Renewable Energy Sources
  • Increasing Number of Solar Projects

Challenges

  • Highly Competitive Market

Top Featured Companies Dominating the Market

  • K2 Systems GmbH
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Unirac, Inc.
  • Schletter, Inc.
  • Land Power Solar Technology Co. Ltd
  • Quick Mount PV
  • Mounting Systems, Inc.
  • RBI Solar, Inc.
  • Pennar Industries Limited
  • Tata International Limited
  • Nuevosol Energy Pvt. Ltd.

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