Commercial & Industrial Solar PV Mounting Systems Market Size & Share 2024 to 2032
Market Size by Technology (Fixed, Tracking), by Product (Ground Mounted, Rooftop).
Report ID: GMI11440
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Published Date: September 2024
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Report Format: PDF
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Authors:
Ankit Gupta, Srishti Agarwal
Commercial & Industrial Solar PV Mounting Systems Market Size
The global commercial & industrial solar PV mounting systems market was valued at USD 4.4 billion in 2023 and is anticipated to grow at a CAGR of 5.1% between 2024 and 2032. Solar PV mounting systems are used to fix solar panels to the surface of roofs, buildings, and grounds. These systems securely hold the PV modules in place, ensuring proper orientation and tilt to maximize solar energy capture. Key considerations for these systems include structural integrity, durability, ease of installation, and the ability to withstand environmental conditions.
Commercial & Industrial Solar PV Mounting Systems Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
Introduction of regulatory reforms including financial & asset leverage, subsidies, and various other financial tools which is set to complement the adoption of renewable solutions thereby positively impacting the business dynamics. The solar PV mounting system industry is witnessing immense competition on account of ongoing technological advancements with rapid innovations, and declining cost. Furthermore, extensive large-scale deployment of clean energy owing to its versatility as an energy carrier along with increasing shift to achieve the energy transition will accelerate the industry dynamics.
The leading industry suppliers are also adopting bulk manufacturing practices along with the emphasis on viable product pricing to sustain a competitive edge in the global market. Moreover, in the last few years, inorganic growth ventures along with new product launches as per the geographic requirements are some of the other major strategies pursued by participants to gain an optimal market position.
Shifting consumer focus toward clean energy coupled with growing installation of solar PV systems is set to augment the demand for mounting systems. Continuous introduction of various grants, initiatives and exemptions by the government bodies coupled with shifting focus to lower the use of conventional fuel sources owing to surging greenhouse gas emissions will boost the industry statistics.
Commercial & Industrial Solar PV Mounting Systems Market Trends
Ongoing efforts toward energy efficiency and its conservation across urban and suburban consumers have accelerated the deployment of solar PV mounting structure across residential premises. Rapid urbanization and industrialization along with several government-assisted renewable reforms and subsidies for households will further accelerate the technology deployment significantly. The industry is observing strong regulatory and financial support from the respective governments toward the establishment and promotion of rooftop solar systems across residential premises. In addition, declining technology prices, primarily driven by economies of scale and upsurging global competition will raise the technology dynamics globally.
Commercial & Industrial Solar PV Mounting Systems Market Analysis
Based on technology, the fixed segment is anticipated to cross more than USD 4.5 billion by 2032, owing to their lower price index along with large scale initial deployment across utilities. They are a combination of both steel and aluminum racks utilized for the installation of PV modules. Surging installation of modules across the residential and commercial customers are installed with fixed mounting systems because of the low cost and less power requirement. In addition to their cost effectiveness, they are also a viable option where geographical and sitting constraints are the key issues for plant development, leading to product demand.
Based on product, the ground mounted segment is anticipated to grow more than CAGR 4.5% through 2032. Soaring investments to create a sustainable energy mix across industries will promote the ground mounted solar mounting systems installation significantly. Associated cost benefits, and availability of green loans for ground mounted systems will further lay comprehensive grounds for product deployment. In addition, supportive regulatory policies and initiatives including the Feed in Tariff program, Power Purchase Agreements and other regulatory initiatives will further propel business growth in the forthcoming years.
Asia Pacific commercial & industrial solar PV mounting systems market is set to reach more than USD 2.1 billion by 2032. Increasing consumer awareness toward energy conservation coupled with growing demand for solar heating systems will further supplement the industry outlook. The regulatory shift toward substituting existing conventional power generation technologies with clean renewable systems will stimulate the business landscape. Ongoing government measures to effectively cater to the growing electricity requirements is set to augment the deployment of sustainable power technologies including solar PV across the region. In addition, feed in Tariff, net-metering, self-consumption schemes, investment subsidies, and other similar reforms have further nourished the system demand exponentially.
Commercial & Industrial Solar PV Mounting Systems Market Share
The commercial & industrial solar PV mounting systems industry is competitive and rapidly evolving, driven by the increasing demand for clean energy solutions across various sectors. The growing investments in clean energy technologies along with increasing customer demand to enhance the generation rate through mounting systems have resulted in continuous technological advancements in the sector. The industry has witnessed several innovations on account of manufacturers’ efforts to reduce the overall costs of large-scale projects.
Commercial & Industrial Solar PV Mounting Systems Market Companies
Eminent players operating in the commercial & industrial solar PV mounting systems industry are:
Commercial & Industrial Solar PV Mounting Systems Industry News
This commercial & industrial solar PV mounting systems market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “USD Million & MW” from 2021 to 2032, for the following segments:
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Market, By Technology
Market, By Product
The above information has been provided for the following regions and countries:
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