Solar PV Mounting Systems Market Size By Technology (Fixed, Tracking), By Product (Rooftop, Ground Mounted), By End-Use (Residential, Commercial, Utility), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Aug 2020  |  Report ID: GMI1647  |  Authors: Ankit Gupta, Aditya Singh Bais

Report Format: PDF   |   Pages: 240   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Solar PV Mounting Systems Market size valued at USD 9.9 billion in 2019 and is estimated to grow at 10% CAGR between 2020 and 2026. Rising energy demand along with growing investment toward various deployment of various renewable technologies, particularly solar will considerably drive the industry growth.
 

The market will witness substantial demand on account of stringent regulations to curb the carbon emissions across various developed nations. The introduction of these regulatory policies and schemes supporting the solar energy adoption will positively influence the market growth trends.
 

Solar PV Mounting Systems Market
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Shifting consumers focus from conventional to sustainable and clean energy generation sources is augmenting new investments. For instance, as per the European Union, the regional photovoltaic sector has witnessed a record investment of USD 140 Billion in 2018, which was around 42.5% of total renewable investment across the region. In the coming years, declining component prices due to technology advancement and economy of scale will complement the business outlook.
 

The global solar PV mounting system industry is witnessing significant downfall in 2020 owing to the ongoing COVID-19 crisis. In order to cure the infection governments across the globe have implemented various lockdowns procedures which in turn have halted the several solar projects. Shortage of labor coupled with ease in the international exports have considerably impacted the business operations across several countries. As a result, a huge demand supply gap is cultivating which in turn will affect the growth of various sector including solar.
 

This solar PV mounting systems market report includes the detailed analysis of industry trends segmented on a regional basis across types of technology, products and end-use. However, the market forecasts & estimates are completely aligned with the data presented by federal and state authorities including the International Renewable Energy Agency (IRENA), International Energy Agency (IEA), National Renewable Energy Laboratory, World Bank, U.S. Energy Information Administration (EIA), Ministry of New and Renewable Energy (MNRE), Global Solar Council, American Solar Energy Society (ASES), Power magazines and annual reports amongst others.
 

Solar PV Mounting Systems Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 9.95 Billion (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 10% 2026 Value Projection: 16.69 Billion (USD)
Pages: 240 Tables, Charts & Figures: 486
Geographies covered (39): U.S., Canada, Mexico, UK, France, Netherlands, Italy, Germany, Sweden, Russia, Spain, Austria, Ukraine, China, Australia, India, Japan, South Korea, Thailand, Philippines, Vietnam, Malaysia, Singapore, Israel, Saudi Arabia, UAE, Jordan, Oman, Kuwait, Turkey, South Africa, Egypt, Algeria, Nigeria, Morocco, Brazil, Chile, Argentina, Peru
Segments covered: Technology, Product, End Use
Companies covered (26): RBI Solar, Schletter GmbH, Jinko Solar, Mounting Systems GmbH, Unirac, Inc., K2 Systems GmbH, Xiamen Grace Solar Technology Co., Ltd., Esdec B.V., Versolsolar, Clenergy, SNS Corporation, NEXTracker, Inc., Array Technologies, Inc., SunPower Corporation, Soltec, Arctech Solar Holding Co., Ltd., First Solar, Convert Italia SpA, PV Hardware, STI Norland, GameChange Solar, Gonvarri Steel Services, ArcelorMittal, Ideematec AG, DPW Solar, Aerocompact GmbH
Growth Drivers:
  • North America & Latin America
    • Stringent targets for solar PV systems installation
    • Declining component cost
  • Europe
    • Growing demand for conventional energy replacement
  • Asia Pacific
    • Favorable clean energy directives
  • Middle East
    • Increasing utility scale investments
  • Africa
    • Rising distributed and off grid solar installations
Pitfalls & Challenges:
  • Availability of other sustainable alternatives

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Rising investments towards raising clean energy penetration in the global energy mix

Growing electricity requirement along with stringent emission norms have obligated the authorities to focus more on the commissioning of various large-scale ground mounted utility solar project. These project offer electricity at a competitive price which in turn makes them more superior when compared with other alternative sources. In addition, ease of maintenance, enhanced power output and panel longevity are some of the other key underlying factors that are boosting the market expansion.
 

Increasing installation of these high capacity ground mounted projects have fueled the solar PV mounting systems market demand which are considered as vital element of a particular photovoltaic structure. Moreover, favorable regulatory policies including (FiT) Feed in Tariff programs and (PPA) Power Purchase Agreements are further expected to provide a significant impetus to the product deployment.
 

Higher efficiency and greater power output are stimulating the solar tracker mounting systems demand

U.S. Solar PV Mounting Systems Market

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Tracker technology is gaining wide adoption on account of its capability of to significantly enhance the CUF of existing photovoltaic systems. It has been analyzed that the deployment of these systems will raise the energy generation rate by 20% when compared with their counter parts. Additionally, the growing R&D investments by various component manufacturers will help in reducing the various component prices including trackers. Moreover, growing integration of several smart monitoring & control technologies along with favorable regulatory measures including tax credits will further fuel the product adoption.
 

Ongoing efforts toward promotion of energy efficient systems across utility sector

Australia Solar PV Mounting Systems Market

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In 2019, utility end use segment was leading the market share and is predicted to dominate the industry through 2026. The utility sector embraces large income driven projects that depend on the lower Levelized Cost of Energy (LCOE) for their revenue which is creating the necessity for deployment high efficiency solar projects with lower operational costs.
 

Rapid decline in PV components prices coupled with stringent clean energy targets is driving the solar PV mounting systems market growth substantially. Furthermore, several initiatives including tax rebates, asset and financial leveraging coupled with rising investments from public and private funding institutions will augment the demand of utility mounting systems.
 

Rising installation of solar PV systems will fuel the industry growth across Asia Pacific

Asia Pacific solar PV mounting systems market size is anticipated to witness growth of over 8% during the forecast period. The growing installations of solar technologies across residential & commercial sector on account of supportive government measures is driving the regional market demand. Favorable government initiatives including Feed in Tariff, net-metering, self-consumption schemes, investment subsidies, and other similar reforms have further nourished the technology adoption exponentially.
 

Australia on account of its huge land availability and immense solar potential is making significant investments across various large-scale projects. As per the Australian PV Institute, in 2018 & 2019, the country has witnessed more than 3.6 GW of large utility solar projects which has substantially stimulated the market revenue across the nation. As of now the country’s solar industry is primely fueled by the generation credits and capital support through the LRET. Additionally, introduction of various other favorable reforms will surge the country’s market growth.
 

Strategic collaborations and mergers acting as the focal point for key market players

The key companies operating across the solar PV mounting systems market are concentrating on mergers and acquisitions to achieve an edge over others. Product customization and bulk manufacturing practices are also among the prime strategies followed by the industry giants to gain market share.
 

Integration of advanced technologies with new product launches by the developers will further stimulate their growth. Some of the major players include RBI Solar, UNIRAC, Inc., Schletter GmbH, Mounting Systems GmbH, and K2 Systems GmbH amongst others.
 

This market research report on solar PV mounting systems includes in-depth coverage of the industry with estimates & forecast in terms of “USD” from 2015 to 2026, for the following segments:

Market, By Technology

  • Fixed
  • Tracking

Market, By Product

  • Rooftop
  • Ground Mounted

Market, By End-Use

  • Residential
  • Commercial
  • Utility

The above information has been provided for the following regions and country:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Netherlands
    • Italy
    • Germany
    • Sweden
    • Russia
    • Spain
    • Austria
    • Ukraine
  • Asia Pacific
    • China
    • Australia
    • India
    • Japan
    • South Korea
    • Thailand
    • Philippines
    • Vietnam
    • Malaysia
    • Singapore
  • Africa
    • South Africa
    • Egypt
    • Algeria
    • Nigeria
    • Morocco
  • Middle East
    • Saudi Arabia
    • UAE
    • Jordan
    • Israel
    • Oman
    • Kuwait
    • Turkey
  • Latin America
    • Brazil
    • Chile
    • Argentina
    • Peru

 

Frequently Asked Questions (FAQ) :

The market size of solar PV mounting systems was valued over USD 9.9 billion in 2019.
The industry share of solar PV mounting systems is projected to expand at 10% CAGR during 2020 to 2026.
These systems will gain popularity across the Asia Pacific owing to rising solar technology installations spanning residential and commercial spaces and supportive government initiatives. APAC industry may depict 8% CAGR through 2026.
The utility end use segment will lead the industry through 2026, having dominated the market share in 2019, owing to rising adoption of large income driven projects that rely on LCOE for revenue.
These products will gain prominence on account of rising power requirement and stringent emission norms that have led authorities to implement more ground mounted utility solar projects.
The deployment of tracker-based solar PV mounting systems apparently leads to an increase of 20% in energy generation. This factor along with its ability to enhance the CUF of current PV systems will push the segment growth.
The ongoing COVID-19 crisis has led to the enforcement of nationwide lockdowns, halt in production modules, and shortage of labor, which will adversely affect product demand.

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Premium Report Details

  • Published Date: Aug 2020
  • Pages: 240
  • Tables: 434
  • Charts / Figures: 52
  • Companies covered: 26
  • Countries covered: 39

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