Solar PV Mounting Systems Market to exceed $16 Bn by 2026
Published Date: August 5, 2020 Authors: Ankit Gupta, Aditya Singh Bais
Solar PV Mounting Systems Market is expected to surpass USD 16 billion by 2026, as reported in the latest study by Global Market Insights, Inc.
Solar PV mounting systems industry is set to witness significant growth on account of shifting focus from conventional energy to clean energy sources including photovoltaic technology. Favorable government measures to sustainably cater solar energy requirement will proliferate the technology adoption globally. In addition, falling component prices on account of economies of scale coupled with growing technological advancements will further drive the market demand.
Lower price along with ability to operate under adverse weather conditions will drive fixed solar PV mounting systems demand
Fixed solar PV mounting systems market is likely to witness high growth over 2020 to 2026 owing to their competitive price structure as compared another available counterpart. Additionally, these systems can be easily deployed across uneven geographical areas which in turn. In the forthcoming years low capital investment, limited space requirement and the ability to withstand at harsh climatic conditions will stimulate the market growth.
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Demand for clean and reliable power surging the PV installation across commercial spaces
Commercial sector over the last few years have witnessed significant PV installations on account of their soaring energy requirements. Governments various measures such as carbon credits and FITs along with rising installation of photovoltaic technologies will have significant impact in the market demand of solar PV mounting systems. Moreover, rapid investments toward the development of various green building infrastructure will further fuel the industry growth across commercial establishments.
Browse key industry insights spread across 240 pages with 434 market data tables & 52 figures & charts from the report, “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”in detail along with the table of contents:
Soaring demand for sustainable technologies across residential premises proliferating the market growth of rooftop systems
Roof top solar PV systems in the recent years have witnessed significant installation owing to favorable government initiatives including incentives, subsidies, and other tax leveraging measures. The Feed in Tariff scheme has further enhanced the residential PV installations substantially across various nations. Areas with limited grid access holds significant potential for the deployment of roof top technologies which in turn will drive its market growth of solar PV mounting systems.
Introduction of favorable regulatory framework will support the U.S. market growth
The U.S. solar PV mounting systems market share is anticipated to expand at more than 4.5% through 2026. The installation is primarily fueled by the growing investments across large scale solar utility projects. However, rising demand for the replacement of conventional power stations with various clean energy generating technologies will raise the adoption of solar PV mounting systems across the nation. According to Solar Energy Industries Association (SEIA), in 2019, the photovoltaic investments in the U.S. was valued over USD 18 billion. Such huge investments in turn is creating competitive industry outlook for the manufacturers of solar PV mounting systems.
Key market players operating across solar PV mounting systems market comprise of UNIRAC, Inc., K2 Systems GmbH, RBI Solar, Mounting Systems GmbH, Schletter GmbH, Jinko Solar, Esdec B.V., Versolsolar and Clenergy amongst others. Strategic partnerships & mergers along with advanced technological innovations are the prime strategies followed by market players to gain a competitive edge over others in the solar PV mounting systems industry.