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Ground Mounted Solar PV Mounting Systems Market size surpassed USD 21.6 billion in 2022 and is projected to grow at 3.7% CAGR from 2023 to 2032. The global market for solar PV mounting systems is expected to cross a valuation of USD 33.7 billion by 2032.
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The COVID-19 outbreak has impacted owing to factory shutdowns, difficult working conditions, & supply chain disruption. It had a significant impact on the renewable power sector, especially solar PV, due to the suspension of manufacturing and construction activities. However, the resumption of commercial activity and the restoration of industrial operations, along with increased investments in the public & private sectors, will have a favorable impact on the industry growth.
Report Coverage | Details |
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Base Year: | 2022 |
Market Size in 2022: | USD 21.6 Billion |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 3.7% |
2032 Value Projection: | USD 29.8 Billion |
Historical Data for: | 2019 to 2021 |
No. of Pages: | 150 |
Tables, Charts & Figures: | 542 |
Segments covered: | Technology, End-Use, Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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Growing concerns regarding climate change in line with decreasing energy storage cost will drive the ground mounted solar PV mounting systems market development. The system allows frictionless energy transfer, better ventilation, and efficient utilization of land which in turn will complement the industry statistics. Moreover, stringent carbon reduction policies along with rising demand for clean energy sources in residential and commercial sector will further escalate product penetration.
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The fixed ground mounted solar PV mounting systems industry size is anticipated to witness 2.9% growth rate till 2032. Accommodation of large number of solar panels and reducing cost of components has made solar power more competitive with conventional energy sources which will drive product adoption. Technological advancements in solar PV modules, inverters, and mounting systems coupled with several environmental benefits, such as reducing greenhouse gas emissions, & conserving natural resources will augment the market scenario. Moreover, sustainability becoming a priority for individuals, businesses, and governments, the demand for clean energy solutions like ground-mounted solar PV systems continues to grow.
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Commercial & industrial ground mounted solar PV mounting systems market will cross a valuation of USD 8.3 billion by 2032 due to its capability to offer large-scale solution for generating clean electricity, makes the product an attractive choice for utility-scale projects and large commercial installations. Additionally, favorable investments in private & public sectors for the development of green infrastructures will positively influence the business landscape. For instance, in June 2021, Mounting Systems built a solar carport park for the development of its Sigma Carport solution. With 90,000 bifacial solar modules on the parking lots, the project aims to reduce around 18 million kg of CO2. Therefore, the company has significantly supported the industry dynamics.
Asia Pacific industry size is estimated to amass USD 10.5 billion by 2032. Growing research & development centers for the improvement of latest technologies along with favorable government incentives and policies to promote the espousal of solar energy will complement the business trends across the region. Furthermore, beneficial business expansions in line with continuous changes in economy associated to efficient power distribution throughout remote locations will positively impact the product demand.
Major players operating in the ground mounted solar pv mounting systems market includes Versolsolar Hangzhou Co., Ltd., Clenergy, SOLTEC, Arctech, Schletter Group, UNIRAC, K2 Systems GmbH, Jinko Solar, Mounting Systems, Xiamen Grace Solar New Energy Technology Co., Ltd., GameChange Solar, Gonvarri Industries, ArcelorMittal, Ideematec AG, DPW Solar, Aerocompact GmbH, Nuevosol Energy Pvt. Ltd., and ZIMMERMANN PV-Stahlbau
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Market, By Technology
Market, By End-Use
The above information has been provided for the following regions and countries: