The European photovoltaic mounting system market exhibited significant year-on-year growth, recording a 9% increase in 2022, with a market value of USD 35.7 billion by the end of the year. According to Future Market Insights (FMI), an ESCOMAR-certified research and consulting firm, the market is poised to maintain its upward momentum, projected to rise from USD 40.6 billion in 2023 to approximately USD 178.7 billion by 2033. This expansion is expected to be supported by a robust CAGR of 16% during the forecast period from 2023 to 2033.
Key Trends Shaping the Market’s Growth:
- Rapid Renewable Energy Adoption: The growing shift toward renewable energy, especially solar, is driving the expansion of the Europe photovoltaic mounting system market. Increased adoption of photovoltaic systems across European countries is fueling this demand.
- Cost Efficiency: The falling costs of photovoltaic installations and energy storage systems are creating opportunities for manufacturers of mounting systems, contributing to increased market demand.
- Environmental Awareness: Concerns over rising energy prices and the depletion of fossil fuels are encouraging the growth of the photovoltaic mounting system market in Europe. Government initiatives and favorable policies are further boosting demand.
Factors Driving Demand in Europe:
- Supportive Regulatory Framework: Europe’s pro-renewable energy policies, including feed-in tariffs, net metering, and renewable energy targets, have incentivized the adoption of photovoltaic systems, creating a favorable market environment.
- Ambitious Renewable Energy Targets: European nations have set aggressive renewable energy goals as part of their climate action plans. The EU’s Renewable Energy Directive, with its 32% renewable energy target by 2030, has spurred investments in solar projects, driving demand for mounting systems.
Market Distinctions:
Although related to the solar inverter market, the Europe photovoltaic mounting system market has distinct characteristics. Solar inverters convert solar energy into usable electricity, while mounting systems focus on securing panels for installation. While both markets benefit from the rise in solar adoption, the mounting system market is expected to be smaller due to its focus on physical infrastructure.
Germany’s Leadership in Renewable Energy:
Germany remains a leader in the renewable energy transition, backed by strong government support. FMI projects a remarkable 17.8% CAGR for Germany’s photovoltaic mounting system market, with an expected market value of USD 42.2 billion by 2033.
Key Takeaways:
- The Europe photovoltaic mounting system market is forecasted to grow from USD 40.6 billion in 2023 to USD 178.7 billion by 2033, driven by a 16% CAGR.
- The rapid adoption of solar energy and falling installation costs are key factors contributing to the market’s expansion.
- Europe’s favorable regulatory environment and ambitious renewable energy targets are major drivers of photovoltaic system demand.
- Germany is projected to experience significant growth, with a 17.8% CAGR and a market valuation of USD 42.2 billion by 2033.
- The photovoltaic mounting system market focuses on the physical installation of solar panels, making it distinct from the solar inverter market, though both benefit from the growing renewable energy sector.
Competitive Landscape:
The Europe photovoltaic mounting system industry boasts a blend of established and emerging players. Leading manufacturers, including-
- Schletter GmbH,
- Renusol GmbH,
- Schletter Group,
are in a competitive race to offer innovative, reliable, and cost-effective mounting solutions.
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
Report Preview: https://www.futuremarketinsights.com/reports/europe-photovoltaic-mounting-system-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube