Solar PV Mounting Systems Market – Overview
The escalation in demand for renewable energy sources has spurred the reliance on PV panels for energy generation. Reports that evaluate the energy and power industry have been made available by Market Research Future which creates reports on several industry verticals that review the market growth and prospects. The Solar PV Mounting Systems Market is anticipated to expand with a CAGR of 11.56% while grossing revenues worth USD 23,107 Mn in the forecast period.
The high efficiency of solar panels is expected to raise the demand for mounting systems considerably. The growing number of solar projects globally are anticipated to stimulate the solar PV mounting systems market. The surge in the installation of rooftop solar mounting structures is expected to create promising opportunities for progress in the forthcoming years.
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The governments are endeavouring to minimize carbon emissions which have led to a shift towards renewable energy. Solar energy has gained popularity among the population as an economical source to reduce carbon footprints. This, in turn, has encouraged the governments to subsidize the manufacturing of solar mounting systems. The increasing number of solar projects coupled with the firm support extended by the governments is prognosticated to augment the solar PV mounting systems market through the projection period.
The technological innovations and developments in the solar PV mounting systems in terms of durability, efficiency, etc. are forecasted to open new avenues of growth in the global market. However, the price volatility of the raw materials such as steel and aluminum are expected to hold the growth of the market.
The notable contenders in the Solar PV Mounting System Industry are Schletter Group, Clenergy, Xiamen Universe Solar Tech. Co. Ltd., Xiamen Corigy New Energy Technology Co. Ltd, PV Racking, Mounting System GmbH, SolarWorld AG, Van der Valk Solar Systems BV, Xiamen Grace Solar Technology Co. Ltd., Land Power Solar Technology Co. Ltd., Unirac Inc., Tata International Ltd., Quick Mount PV, K2 Systems GmbH and RBI Solar Inc.
Segmental Analysis of Solar PV Mounting Systems Market Report:
For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for solar PV mounting systems
By Product Type
- Ground mounted
- North America
- Asia Pacific (APAC)
- Latin America
- The Middle East & Africa (MEA)
Detailed Regional Analysis
The analysis of the regions in the solar PV mounting systems market includes Europe, North America, the Asia Pacific and the Rest of the World.
The Asia Pacific region is responsible for a majority share of 43.02% of the solar PV mounting system market and is anticipated to flourish at a CAGR of 11.24% throughout the forecast period. The Asia Pacific has a massive population which is steadily growing, and the demand for cost-efficient power is also growing as well. The availability of clean energy sources is progressively becoming appealing due to rising support for renewable energy deployment in the form of promising policies and regulations together with awareness campaigns.
China is leading the growth of the APAC market in terms of solar photovoltaic cell manufacturing with Japan and India following closely. The amplified investments in renewable resources and a sunny climate for the better part of the year have led to the acknowledgment of solar energy as the best substitute for standard energy sources.
The Middle Eastern & African region, however, is expected to develop exponentially owing to the region being favorable for the adoption of solar power as a majority of the region has a desert climate and has long hours of sunlight. The presence of several construction projects which influence and incorporate solar energy are projected to drive the solar PV mounting systems market in the region.
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- PV Mounting Systems Manufacturers
- Suppliers and distributors
- Raw Material suppliers
- End Use Industries
- Government Organizations and Associations
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