The global photovoltaic mounting system market, valued at USD 22 million in 2022, is poised for substantial growth, with projections estimating the market will reach USD 123.59 million by 2033. This remarkable growth is fueled by the increasing demand for solar energy solutions, driven by the global shift towards renewable energy, energy efficiency improvements, and the expanding adoption of solar power systems. The market is expected to expand at a compound annual growth rate (CAGR) of 17.6% from 2023 to 2033.
The rise in energy consumption globally, coupled with a push towards sustainable energy alternatives, has set the stage for an accelerated adoption of photovoltaic technologies. While solar energy currently contributes a modest 585 TWh to global electricity generation, it is poised to take a larger share as both the technology and infrastructure improve. This shift is especially vital in regions where traditional energy sources like oil, coal, and gas still account for over 80% of total consumption.
Growth Drivers and Market Outlook
The adoption of photovoltaic mounting systems is being driven by several key factors, including:
- Cost Reduction and Affordability: The continued decline in the cost of solar panels and related technologies has made photovoltaic systems more accessible to residential, commercial, and industrial customers. As the cost of solar energy decreases, more businesses and consumers are opting for solar power, which drives demand for mounting systems.
- Increased Solar Energy Deployment: A rising number of solar energy projects, both large-scale and residential, is accelerating demand for mounting solutions. As systems become more modular, lightweight, and adaptable to different roof types and angles, they offer greater installation flexibility, contributing to widespread market adoption.
- Energy Efficiency and Temperature Control: PV mounting systems, particularly ground-mounted configurations, benefit from better airflow and cooling, improving energy efficiency and overall system performance. The growing focus on temperature control and system longevity is shaping demand for advanced mounting solutions.
- Global Shift Towards Renewable Energy: The global push to reduce carbon emissions and transition to cleaner energy sources is fostering investments in renewable technologies, including solar energy. Countries like India are leading the charge with ambitious solar power projects, such as the Jawaharlal Nehru National Solar Mission (JNNSM) and Thar Desert initiatives, set to generate significant solar power capacities.
- Increased Demand in Urban Areas: As energy demand rises in urban centers, there is a corresponding surge in interest for solar power and photovoltaic mounting systems, particularly those that integrate additional components like energy storage systems, solar trackers, and batteries. This trend is expected to continue as more cities and commercial establishments adopt solar energy solutions.
Opportunities for Innovation and Growth
The future of photovoltaic mounting systems is bright, with increasing opportunities for manufacturers to innovate. The systems are becoming more efficient, cost-effective, and versatile, with options to accommodate a variety of installations, from residential rooftops to large-scale commercial and utility projects. As the market expands, solar panel installers and contractors will play a pivotal role in driving growth by improving installation efficiency and offering competitive pricing.
Additionally, as countries like India continue to experience rising energy prices, the adoption of solar energy presents a strategic and cost-effective alternative for consumers. The Indian government has introduced large-scale solar projects in desert regions and rural areas, which will provide significant growth opportunities for PV mounting systems in the coming years.
Key Manufacturers and Suppliers
- Schletter Group,
- Unirac Inc.,
- SolarWorld AG,
- K2 Systems GmbH,
- Quick Mount PV,
- Land Power Solar Technology Co. Ltd.
- RBI Solar Inc,
- Mounting System GmbH,
- Xiamen Grace Solar Technology Co. Ltd.
- Clenergy, Tata International Ltd.,
- Xiamen Universe Solar Tech. Co. Ltd.,
- Xiamen Corigy New Energy Technology Co. Ltd,
- PV Racking, Van der Valk Solar Systems BV, amongst others.
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Key Segments
By Product:
- Rooftop
- Ground-mounted
By Technology:
- Fixed
- Tracking
By End Use Sector:
- Residential
- Commercial
- Civic Utilities
By Region:
- North America
- USA & Canada
- Latin America
- Brazil, Mexico, Others
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Nordics
- Benelux
- Russia
- South Asia & Pacific
- India
- ASEAN
- Australia and New Zealand (ANZ)
- East Asia
- China
- Japan
- South Korea
- Middle East and Africa
- GCC Countries
- Turkey
- Northern Africa
- South Africa
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