|
Forecast Period
|
2024-2028
|
|
Market Size (2022)
|
USD 12.08 billion
|
|
CAGR (2023-2028)
|
8.19%
|
|
Fastest Growing Segment
|
Fixed
|
|
Largest Market
|
Asia
Pacific
|
Market Overview
Global Solar PV Mounting Systems Market has valued
at USD 12.08 billion in 2022 and is anticipated to project robust growth in the
forecast period with a CAGR of 8.19% through 2028. The Solar PV Mounting
Systems market refers to the specialized segment of the renewable energy
industry that focuses on the design, production, and installation of structures
and components necessary for securely mounting photovoltaic (PV) solar panels.
These mounting systems are essential components of solar energy infrastructure,
serving as the structural framework that supports and positions solar panels to
harness sunlight and convert it into electricity. The primary objective of
Solar PV Mounting Systems is to ensure the optimal orientation and inclination
of solar panels to capture sunlight efficiently, maximizing energy generation.
These systems are engineered to withstand various environmental conditions,
including wind, snow, and seismic activity, ensuring the long-term durability
and safety of solar PV installations. The Solar PV Mounting Systems market
encompasses a wide range of mounting solutions tailored to diverse
applications, including rooftop installations on residential, commercial, and
industrial buildings, as well as ground-mounted systems, solar carports, and
floating solar platforms on water bodies. As the solar energy sector continues
to grow, the demand for innovative and adaptable mounting systems becomes
increasingly significant, making this market a vital component of the broader
renewable energy landscape.
Key Market Drivers
Growing Solar Energy
Capacity
One of the primary drivers
fueling the global Solar PV (photovoltaic) Mounting Systems market is the
continuous growth in solar energy capacity worldwide. Solar PV systems have
become increasingly popular for generating electricity from sunlight, thanks to
their environmental benefits and decreasing costs. This surge in demand for
solar power has led to a corresponding increase in the need for efficient and
durable mounting systems.
Countries across the globe
are setting ambitious renewable energy targets, with solar power playing a
significant role in their plans. These targets are often accompanied by
incentives, subsidies, and favorable policies to promote solar energy adoption.
As a result, both residential and utility-scale solar installations are on the
rise, propelling the demand for solar PV mounting systems.
Declining Solar PV Costs
The declining cost of solar
PV components, particularly solar panels, has been a major driver of the Solar
PV Mounting Systems market. Over the past decade, the price of solar panels has
steadily decreased due to technological advancements, increased production
capacity, and economies of scale. This cost reduction has made solar energy more
accessible and financially attractive to a broader range of consumers and
businesses.
As the cost of solar panels
decreases, there is a greater emphasis on the overall system cost, including
the mounting and installation. Consequently, solar PV mounting system
manufacturers are under pressure to offer cost-effective solutions that
complement the affordability of solar panels while maintaining high-quality
standards.
Environmental Concerns and
Sustainability
Growing environmental
concerns and a heightened focus on sustainability have driven the adoption of
solar PV systems worldwide. Solar power is recognized as a clean and renewable
energy source that significantly reduces greenhouse gas emissions compared to
fossil fuels. As individuals, businesses, and governments seek to reduce their
carbon footprints and combat climate change, solar PV installations have become
a preferred choice for generating electricity.
Mounting systems are a
crucial component of solar PV installations, and their design and materials have
a direct impact on the overall sustainability of the system. Manufacturers are
increasingly using recycled materials and designing mounting systems for easy
end-of-life recycling, aligning with the broader sustainability goals of the
green energy industry.
Energy Independence and
Security
Energy independence and
security are driving factors for governments and businesses seeking to
diversify their energy sources and reduce dependence on fossil fuels. Solar PV
systems offer a reliable and decentralized energy source, making them an
attractive option for achieving energy security.
Mounting systems play a
vital role in ensuring the stability and longevity of solar PV installations,
making them critical components in the pursuit of energy independence. As more
regions and countries look to harness their solar potential, the demand for
high-quality and durable mounting systems is expected to rise.
Technological Advancements
and Innovation
Innovation and
technological advancements in solar PV mounting systems have spurred market
growth. Manufacturers are continuously developing new and improved mounting
solutions that enhance installation efficiency, increase system reliability,
and reduce maintenance requirements.
Advanced tracking systems,
innovative rooftop mounting designs, and integrated solutions that incorporate
solar panels with mounting systems have all contributed to the market's
expansion. These innovations help maximize energy capture and improve the
overall performance of solar PV installations.
Supportive Government
Policies and Incentives
Government policies and
incentives at the local, national, and regional levels have a significant
influence on the Solar PV Mounting Systems market. Policies such as feed-in
tariffs, tax credits, rebates, and renewable energy mandates encourage the
adoption of solar PV systems, consequently driving demand for mounting systems.
Additionally, regulations
and building codes often stipulate safety and durability standards for mounting
systems, ensuring their compliance with industry best practices. Governments
may also introduce measures to promote the use of locally manufactured mounting
systems, boosting domestic manufacturing and job creation.
In conclusion, the global
Solar PV Mounting Systems market is experiencing robust growth due to factors
such as the increasing capacity of solar energy, declining PV costs,
environmental concerns, energy security, technological innovations, and
supportive government policies. These drivers collectively contribute to the
expansion of the market and the widespread adoption of solar PV systems.
Government Policies are Likely to Propel the Market
Renewable Energy Targets
and Incentives
One of the most influential
government policies driving the global Solar PV Mounting Systems market is the
establishment of renewable energy targets and incentives. Many governments
around the world have set ambitious targets for increasing the share of
renewable energy in their overall energy mix. These targets are often
accompanied by a range of incentives designed to stimulate solar PV
installations, including residential, commercial, and utility-scale projects.
Renewable energy targets
provide a clear and long-term vision for the growth of the solar PV sector,
instilling confidence in investors, developers, and manufacturers. To encourage
solar PV adoption, governments offer incentives such as feed-in tariffs, tax
credits, rebates, and performance-based incentives. These financial incentives
make solar PV installations more economically viable, ultimately boosting the
demand for high-quality mounting systems.
In addition to financial
incentives, governments may also streamline permitting processes and reduce
regulatory barriers to make it easier for individuals and businesses to install
solar PV systems with compatible mounting solutions.
Net Metering and Grid
Integration
Net metering policies have
a significant impact on the Solar PV Mounting Systems market. Net metering
allows solar PV system owners to feed excess electricity they generate back
into the grid and receive credits for it. This policy encourages individuals
and businesses to invest in larger solar PV systems, which, in turn,
necessitates robust and efficient mounting systems to support larger arrays.
Furthermore, grid integration
policies and regulations play a crucial role in ensuring the seamless
integration of solar PV systems into the existing electricity grid. Governments
may implement rules and standards that require grid operators to accommodate
distributed energy generation, including solar PV. This encourages the
deployment of solar PV systems, driving the demand for compatible mounting
solutions that meet safety and reliability standards.
Building Codes and
Standards
Building codes and
standards established by governments are instrumental in shaping the Solar PV
Mounting Systems market. These regulations are designed to ensure the
structural integrity, safety, and durability of solar PV installations,
including their mounting systems. Building codes often specify load-bearing
requirements, wind resistance, and other factors that influence the design and
installation of mounting systems.
By setting clear and
stringent standards, governments help maintain the quality and reliability of
mounting systems while safeguarding the investments of solar PV system owners.
Compliance with building codes is typically a prerequisite for obtaining
permits and incentives, creating a strong incentive for manufacturers and
installers to produce and use compliant mounting systems.
Research and Development
Funding
Government investment in
research and development (R&D) is a significant driver of innovation in the
Solar PV Mounting Systems market. Funding for R&D initiatives supports the
development of advanced mounting solutions that enhance installation
efficiency, reduce costs, and improve overall system performance.
Government agencies often
collaborate with research institutions, universities, and industry partners to
advance mounting system technologies. These investments contribute to the
evolution of mounting systems, making them more adaptable to different
environments, materials, and installation methods.
R&D funding also
supports the development of integrated solutions that combine solar panels with
mounting systems, simplifying installation processes and reducing overall
system costs. This innovation, driven by government support, helps maintain the
competitiveness of the solar PV market.
Trade and Tariff Policies
Trade and tariff policies
implemented by governments can have a substantial impact on the global Solar PV
Mounting Systems market. Import tariffs, duties, and trade restrictions on
mounting system components can influence the cost and availability of these
products. Governments may impose protective measures to support domestic
manufacturing and job creation.
These trade policies can
create challenges for solar PV system developers and installers who rely on
cost-effective imported mounting systems. Conversely, they can also stimulate
domestic production of mounting systems, providing opportunities for local
manufacturers to supply the growing solar PV market.
Balancing trade and tariff
policies to promote industry growth while ensuring fair competition and access
to affordable mounting solutions is a complex challenge for governments around
the world.
Environmental and
Sustainability Regulations
Government policies related
to environmental and sustainability regulations are increasingly important in
the Solar PV Mounting Systems market. As sustainability becomes a key consideration
in solar PV projects, governments are taking steps to ensure that mounting
systems meet specific environmental criteria.
These policies may promote
the use of materials with lower environmental impact, encourage the recycling
or responsible disposal of mounting system components, and set guidelines for
sustainable manufacturing practices. Manufacturers that align their products
with these regulations and sustainability goals can gain a competitive
advantage in the market.
In conclusion, government
policies significantly shape the Solar PV Mounting Systems market by
influencing demand through targets and incentives, promoting safety and
reliability through building codes and standards, driving innovation through
research and development funding, affecting costs and availability through
trade and tariff policies, and fostering sustainability through environmental
regulations. These policies collectively play a pivotal role in shaping the
growth and development of the solar PV mounting systems sector on a global
scale.
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Key Market Challenges
Technological Compatibility and Adaptability
One of the key challenges facing the global Solar
PV Mounting Systems market is the need for mounting systems to be technologically
compatible and adaptable to various solar PV technologies and installation
scenarios. As the solar industry evolves, new types of solar panels, inverters,
and other components emerge, each with unique characteristics and requirements.
Solar PV mounting systems must be designed to
accommodate different panel sizes, weights, and shapes while providing the
necessary structural integrity and support. Additionally, they must be
adaptable to various installation scenarios, including rooftop installations,
ground-mounted systems, tracking systems, and floating solar platforms.
Technological advancements in solar PV, such as
bifacial panels, thin-film technologies, and solar trackers, challenge mounting
system manufacturers to keep pace and develop solutions that can effectively
integrate these innovations. Failure to address these compatibility and
adaptability challenges can lead to increased complexity in system design and
installation, potentially impacting the efficiency and reliability of solar PV
installations.
To overcome this challenge, mounting system
manufacturers need to invest in research and development to create versatile
and customizable products that can accommodate evolving solar technologies and
installation methods. Collaboration within the solar industry to establish
standardized interfaces and compatibility guidelines can also help address
these challenges.
Economic Pressures and Cost Competitiveness
Another significant challenge in the global Solar
PV Mounting Systems market is the relentless pressure to reduce costs while
maintaining quality and safety standards. The solar industry is highly
competitive, and the cost of solar PV components, including mounting systems,
has a direct impact on the overall affordability and attractiveness of solar
installations.
Manufacturers and installers face the challenge of
delivering cost-effective mounting solutions without compromising performance
or durability. Reducing the cost of mounting systems involves optimizing
materials, manufacturing processes, transportation logistics, and installation
methods. Achieving this balance can be particularly challenging in regions
where labor costs, raw material prices, or regulatory requirements are high.
Furthermore, the pressure to lower costs extends to
installation and maintenance. Simplifying installation processes and minimizing
maintenance requirements are crucial for cost competitiveness. Efficient
installation methods can reduce labor costs and project timelines, making solar
PV installations more financially appealing to consumers and businesses.
Government policies and incentives, such as feed-in
tariffs or tax credits, can help mitigate this challenge by supporting the
adoption of solar PV systems and promoting economies of scale. These policies
can create demand for high-quality mounting systems and encourage manufacturers
to invest in cost-saving innovations.
In conclusion, the global Solar PV Mounting Systems
market faces challenges related to technological compatibility and adaptability
to evolving solar PV technologies and installation scenarios. Additionally,
economic pressures and the need for cost competitiveness are driving mounting
system manufacturers to find innovative ways to reduce costs without
compromising quality and safety standards. Overcoming these challenges will
require ongoing research and development efforts, industry collaboration, and
the support of favorable government policies.
Segmental Insights
Rooftop Insights
The Rooftop segment had the largest market share in
2022 & expected to maintain it in the forecast period. Rooftop
installations are well-suited to urban and suburban areas where space for
ground-mounted systems is limited or expensive. In densely populated cities,
land is at a premium, making rooftop solar an attractive option for utilizing
otherwise unused space.
Rooftop solar allows for distributed energy
generation, meaning that electricity is produced closer to where it's consumed.
This reduces transmission losses and grid congestion. Homeowners, businesses,
and institutions can generate their electricity, reducing their reliance on
traditional utilities and lowering energy bills.
Rooftop systems offer grid independence, providing
a source of reliable electricity during power outages. This resilience is
especially appealing to homeowners and critical infrastructure, such as
hospitals and emergency services.
Many governments offer incentives, subsidies, and
favorable policies to encourage rooftop solar installations. These may include
tax credits, feed-in tariffs, and net metering programs. These policies make
rooftop solar financially attractive for residential and commercial consumers,
driving demand.
Rooftop solar installations often have a lower
environmental impact compared to ground-mounted systems on undeveloped land.
They make use of existing infrastructure and reduce land use conflicts.
Rooftop systems are highly scalable and modular,
allowing users to start with a small installation and expand it as needed. This
scalability makes them suitable for a wide range of applications, from
residential rooftops to large commercial and industrial buildings.
Rooftop solar can be integrated seamlessly into
building structures, preserving aesthetics and architectural design. Solar
panels can be flush-mounted or integrated into roofing materials, making them
less visually obtrusive compared to ground-mounted arrays.
Advances in solar panel technology and mounting
system designs have made rooftop installations more efficient and cost-effective.
Solar panels are becoming lighter, more efficient, and easier to install,
contributing to the growth of rooftop systems.
Rooftop solar fosters a sense of local energy
production, empowering individuals and communities to contribute to clean energy
generation and reduce their carbon footprint.
Fixed Insights
The Fixed segment had the largest market share in
2022 and is projected to experience rapid growth during the forecast period. Fixed-tilt
mounting systems are typically more cost-effective than tracking systems. They
require less complex hardware and fewer moving parts, reducing both upfront
installation costs and long-term maintenance expenses.
Fixed-tilt systems are straightforward in design
and operation. They have no moving parts or motors, which means fewer
components that can potentially fail over time. This simplicity translates into
higher reliability and a longer operational lifespan, reducing the need for
maintenance and repairs.
Fixed-tilt systems are versatile and suitable for a
wide range of solar applications, from small residential installations to large
utility-scale projects. They can be easily deployed on rooftops, open fields,
and ground-mounted arrays, making them adaptable to various site conditions and
locations.
Fixed-tilt systems offer predictable and stable
performance. Once installed, they maintain a constant tilt angle throughout the
year, which simplifies energy production forecasting and grid integration. In
regions with consistent weather patterns and ample sunlight, fixed-tilt systems
can provide reliable and cost-efficient energy generation.
Fixed-tilt systems require less land or space
compared to tracking systems, making them ideal for projects with limited
available land. In densely populated areas or on sites where land is valuable,
fixed-tilt technology can maximize energy production within a smaller
footprint.
The environmental impact of fixed-tilt systems is
generally lower than that of tracking systems. They have a smaller land
footprint and generate less noise during operation, making them suitable for
environmentally sensitive areas. Fixed-tilt systems are easier and quicker to
install compared to tracking systems, reducing project timelines and
construction-related costs. This rapid deployment is particularly advantageous
for commercial and utility-scale solar projects with tight schedules.
Fixed-tilt systems are often favored for localized
energy generation, such as residential and commercial rooftops, where the
primary goal is to offset energy consumption on-site. They are a popular choice
for distributed energy generation, aligning with the growing interest in
decentralized renewable energy solutions.
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Regional Insights
Asia-Pacific
had the largest market for solar PV mounting systems, accounting for over 50%
of the global market share in 2022. The growth of the market in the region is
attributed to the increasing demand for solar energy in countries such as
China, India, and Japan.
Europe had the second-largest market for solar PV
mounting systems, accounting for over 30% of the global market share in 2022.
The growth of the market in the region is driven by government support for
solar energy and the increasing demand for clean energy from businesses and
consumers.
North America had the third-largest market for
solar PV mounting systems, accounting for over 10% of the global market share
in 2022. The growth of the market in the region is driven by the increasing
demand for solar energy in the United States and Canada.
Recent Developments
- January 2023: Soltec, a
Spanish solar PV mounting systems manufacturer, raised USD 691.90 million in an
initial public offering (IPO). The company plans to use the proceeds to expand
its production capacity and develop new products.
- February 2023: K2 Systems,
a German solar PV mounting systems manufacturer, acquired Mounting Systems, a
US-based solar PV mounting systems manufacturer, for USD 175 million. The
acquisition will expand K2 Systems' reach in the North American market.
- March 2023: Esdec, a Dutch
solar PV mounting systems manufacturer, announced a partnership with Trina
Solar, a Chinese solar panel manufacturer. The partnership will focus on
developing and commercializing new solar PV mounting systems for rooftop and
ground-mounted applications.
- April 2023: SunPower, a
US-based solar panel manufacturer, announced that it would invest USD 1 billion
in its solar PV mounting systems business. The investment will be used to
expand SunPower's production capacity and develop new solar PV mounting systems
for commercial and industrial applications.
- May 2023: Tesla, a US-based
electric vehicle manufacturer, announced that it would enter the solar PV
mounting systems market. Tesla plans to offer a range of solar PV mounting
systems for residential and commercial applications.
Key Market Players
- Schletter Group
- K2 Systems GmbH
- Esdec Solar Group B.V.
- Clenergy International (UK) Ltd
- BayWa r.e. AG
- SunPower Corporation
- First Solar Inc
- Tesla Inc.
- Trina Solar Co., Ltd
- Unirac Inc.
|
By Product
|
By Technology
|
By Component
|
By End-User
|
By Region
|
|
|
|
- PV Modules [Panels]
- Inverters
- Racking
- Batteries
- Others
|
- Residential
- Commercial
- Industrial
|
- North
America
- Europe
- Asia Pacific
- South
America
- Middle East
& Africa
|
Report Scope:
In this report, the Global Solar PV Mounting
Systems Market has been segmented into the following categories, in addition to
the industry trends which have also been detailed below:
- Solar PV Mounting Systems
Market, By Product:
o Rooftop
o Ground Mounted
- Solar PV Mounting Systems
Market, By Technology:
o Fixed
o Tracking
- Solar PV Mounting Systems
Market, By Component:
o PV Modules [Panels]
o Inverters
o Racking
o Batteries
o Other
- Solar PV Mounting Systems
Market, By End-User:
o Residential
o Commercial
o Industrial
- Solar PV Mounting Systems
Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Kuwait
§ Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Solar
PV Mounting Systems Market.
Available Customizations:
Global Solar PV Mounting Systems market report
with the given market data, Tech Sci Research offers customizations according
to a company's specific needs. The following customization options are
available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Global Solar PV Mounting Systems Market is an
upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]