Ground Mounted Solar PV Module Market Size & Share 2024 - 2032
Market Size by Product, by Technology, by Connectivity (On Grid, Off Grid), by End Use (Residential, Commercial & Industrial, Utility), Regional Outlook & Forecast.
Report ID: GMI9829
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Published Date: June 2024
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Report Format: PDF
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Authors:
Ankit Gupta, Srishti Agarwal
Ground Mounted Solar PV Module Market Size
Ground Mounted Solar PV Module Market was valued USD 109.9 billion in 2023 and is anticipated to grow at a CAGR of 5% from 2024 to 2032. A ground-mounted solar PV (photovoltaic) module system refers to a solar power installation where the solar panels are mounted on the ground rather than on rooftops or other elevated structures. This type of installation is commonly used in solar farms, large-scale solar power plants, and sometimes in residential or commercial properties where adequate ground space is available.
Ground Mounted Solar PV Module Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
Policies supporting renewable energy targets and carbon reduction goals along with incentives such as tax credits, subsidies, and favorable tariffs to promote large-scale solar projects will drive the business scenario. Significant rise in the number of large-scale solar projects, driven by increased efficiency of solar panels and reducing costs will augment the industry landscape.
Advancements in solar panel technology, including bifacial panels and high-efficiency PV cells, enhance the performance of ground-mounted systems. Larger installations benefit from economies of scale, reducing the cost per watt of solar energy along with Continuous declines in the prices of solar panels, inverters, and mounting systems make ground-mounted solar more economically attractive. Furthermore, Rapid adoption in countries with high solar potential and growing energy needs of solar plants will positively influence the product adoption.
Ground Mounted Solar PV Module Market Trends
Ground-mounted solar systems are increasingly used for rural electrification projects, providing reliable and sustainable energy to off-grid communities. Combining solar PV with battery storage systems to ensure a stable and reliable energy supply coupled with repurposing unusable or contaminated land for solar installations to avoid conflicts with agricultural or residential land use will propel the business statistics. In addition, solar companies enter into strategic partnerships with suppliers and manufacturers to ensure a stable supply chain thereby reducing costs through economies of scale.
Ground Mounted Solar PV Module Market Analysis
Based on connectivity, the on grid segment is anticipated to grow over USD 162 billion by 2032 driven by connection to the utility grid, providing flexibility, reliability, and economic benefits. Improved installation techniques and increased competition among installers have driven down the overall costs of setting up on-grid solar systems, thereby driving the product costs. long-term contracts to solar energy producers, providing payments for the electricity generated and fed into the grid along with Policies that allow consumers to offset their electricity bills by exporting excess solar energy to the grid will boost the market growth.
Based on application, the utility segment is set to grow at a CAGR of over 4% through 2032, owing to increasing popularity of community solar projects and growing utility scale solar farms. Municipalities and local governments are supporting community solar projects to increase access to renewable energy and achieve local sustainability goals. Investments in smart grid technologies improve the integration of distributed energy resources like solar PV, enhancing grid reliability and flexibility will drive the market scenario. Moreover, larger projects benefit from economies of scale, further driving down the cost per watt of installed capacity, driving the industry scenario.
Asia Pacific ground mounted solar PV module market is likely to exceed USD 82.5 billion by 2032 on account of government policies, economic incentives, technological advancements, and the region's high solar potential. Set ambitious renewable energy targets, including substantial contributions from solar power across various economies coupled with governments providing various subsidies, tax incentives, and grants to reduce the upfront costs of solar projects will encourage investment, contributing to the business momentum. Corporations are increasingly adopting solar power to meet sustainability targets, reduce carbon footprints, and secure long-term energy costs will complement the business landscape.
China is the largest market for solar PV globally, with extensive government support and significant investments in solar infrastructure. Strong policies, including feed-in tariffs (FiTs), tax incentives, and subsidies, drive the adoption of solar PV. Furthermore, numerous large scale ground-mounted solar farms have been developed, particularly in provinces with high solar irradiance.
Ground Mounted Solar PV Module Market Share
Solar companies often form consortiums or joint ventures with research institutions and universities to advance solar technology. These collaborations focus on developing new materials, improving efficiency, and reducing costs. Governments often collaborate with private companies to promote solar energy through funding, subsidies, and policy support. Organizations such as the International Solar Alliance (ISA) and the Solar Energy Industries Association (SEIA) work with industry stakeholders to establish standards and certification processes, ensuring quality and reliability in solar PV products.
Ground Mounted Solar PV Module Market Companies
Eminent players operating in the ground mounted solar PV module industry are:
Ground Mounted Solar PV Module Industry News:
This ground mounted solar PV module market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “(USD Billion & MW)” from 2021 to 2032, for the following segments:
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Market, By Technology
Market, By Product
Market, By Connectivity
Market, By End Use
The above information has been provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
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Industry databases
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Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
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Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →