According to Future Market Insights (FMI), Europe photovoltaic mounting system market is estimated to reach US$ 40.6 billion in 2023. From 2023 to 2033, photovoltaic system demand in Europe is likely to rise at 16% CAGR. By 2033, total market size in Europe is projected to reach US$ 178.7 billion by 2033.
Growth in the market is driven by rising demand for renewable energy and increasing government initiatives to promote clean energy.
Over the years, rising environmental concerns and depletion of fossil fuels have prompted countries to explore alternative energy sources, including solar energy.
People across regions such as Europe are increasingly installing solar panels in their homes and other places. This in turn is expected to create lucrative opportunities for photovoltaic mounting system manufacturers.
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Photovoltaic (PV) mounting systems are used to mount solar panels onto various surfaces, such as rooftops, carports, or ground. They have become essential for the proper functioning of photovoltaic cells.
The use of renewable energy sources and growing focus on reducing carbon emissions are expected to boost photovoltaic mounting system demand.
Various initiatives and schemes are being launched across European countries to encourage the adoption of solar panels. For instance, Feed-In Tariff (FIT) scheme provides financial incentives for homeowners and businesses to install renewable energy systems, including photovoltaic mounting systems.
Similarly, the Renewable Energy Association (REA) is playing a key role in promoting the use of renewable energy in Europe.
The combination of government incentives and the efforts of industry bodies such as the REA will continue to drive the adoption of photovoltaic mounting systems. This in turn is expected to fuel expansion of Europe photovoltaic mounting system industry.
Key Takeaways from Europe Photovoltaic Mounting System Market Study
- The Europe photovoltaic mounting system market is anticipated to reach a valuation of US$ 178.7 billion by
- Demand for photovoltaic systems in Europe is expected to surge at 16% CAGR through 2033.
- By product type, ground mounted segment is forecast to reach a valuation of around US$ 14.6 billion by 2033.
- Based on material type, aluminum segment is projected to thrive at 6% CAGR from 2023 to 2033.
- Spain photovoltaic mounting system market size is forecast to reach US$ 45.9 billion by 2033.
- The United Kingdom photovoltaic mounting system market is poised to exhibit a CAGR of 7% CAGR through 2033.
- Germany market is likely to top a valuation of US$ 42.2 billion by 2033.
“The future of the Europe PV mounting system market appears promising, driven by several factors. This includes increasing renewable energy targets, favorable government policies, and the growing need for sustainable solutions. To gain profits, companies are focusing on technological advancements to improve the efficiency and cost-effectiveness of their products.” says a lead Future Market Insights (FMI) analyst.
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Who is Winning?
Schletter Inc., Unirac Inc., Mounting Systems GmbH, SunPower Corporation, SunPower Corporation, Bauder Ltd, Armacell UK Ltd, EcoFasten Solar, Hilti (Great Britain) Ltd, and K2 Systems Ltd., and Renusol GmbH are key photovoltaic mounting system manufacturers operating in the Europe market.
These players offer a variety of PV mounting systems, including rooftop, floating systems, and ground-mounted, and floating systems. They are continuously innovating their products to solidify their position in the market.
Companies are also looking to adopt strategic alliances, mergers, acquisitions, and joint ventures to expand their customer base and market share. For instance,
- In 2019, Unirac, Inc. introduced a new innovative range of products and accessories including SFM INFINITY, a revolutionary rooftop solar PV mounting system.
Find More Valuable Insights:
The research report analyzes the market demand trends of photovoltaic mounting systems in the Europe market estimation and growth projection are based on factors like sustainable energy consumption, COVID-19 crisis impact, replacement ratio, and adoption rate of photovoltaic mounting systems.
As per Future Market Insights’ (FMI) research scope, Europe photovoltaic mounting system market has been studied and segmented on the basis of product type, technology, material type, sales channel, and end use. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, the supply side and demand side.
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Europe Photovoltaic Mounting System Market Segmentation
By Product Type:
- Rooftop
- Ground Mounted
- Carport Mounting Structure
By Sales Channel:
- Business to business (B2B)
- Business to Customer (B2C)
By Material Type:
- Aluminum
- Steel
- Others
By Technology:
- Fixed
- Tracking
By End Use:
- Residential,
- Commercial,
- Offices
- Recreational Areas
- Educational Institution
- Hospitality
- Healthcare Facilities
- Others
- Industrial,
- Municipal and Government Facilities,
- Others
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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