Market Overview:
The global solar PV mounting systems market is expected to grow from USD 13,368.31 million in 2022 to USD 24,026.70 million by 2030, exhibiting a compound annual growth rate (CAGR) of 7.60% during the forecast period 2023 - 2030.
Due to stringent regulations governing the inspection of fossil fuel wastes across international borders, the Solar PV Mounting Systems market size will experience strong demand. Market development patterns will be impacted by the presentation of these administrative strategies and plans supporting the acceptance of solar energy.
The solar panel mounting systems market is seeing critical ruin in 2020, inferable from the continuous COVID-19 emergency. To fix the contamination, states across the globe have executed different lockdown systems, which have stopped the few solar undertakings. Subsequently, an enormous interest supply hole is developing, which thus will influence the development of different areas, including solar.
Key Players:
· Schletter Group (Germany)
· Unirac Inc. (US)
· SolarWorld AG (Germany)
· K2 Systems GmbH (Germany)
· Esdec (Netherlands)
· Tata International Ltd (Switzerland)
· Land Power Solar Technology Co. Ltd (China)
· RBI Solar Inc. (US)
· Mounting System GmbH (Germany)
· Xiamen Grace Solar Technology (China)
· Clenergy (China)
· Xiamen Universe Solar Technology (China)
· Xiamen Corigy New Energy Technology Co. Ltd. (China)
· PV Racking (US)
Segment Overview:
Based on the product, the solar panel mounting system manufacturers market is bifurcated into Rooftop Mounting Systems, and Ground Mounted Mounting Systems. The ground-mounted portion holds the biggest piece of the pie and is assessed to witness the most elevated CAGR during the gauge time frame.
The components that can be ascribed to the developing establishment of these high limit ground-mounted tasks have sped up the Solar PV Mounting Systems market Size request, which is considered an imperative component of a specific photovoltaic design that is speeding up the interest for the ground-mounted section.
Based on Application, the market is bifurcated into Residential, Commercial, and Utility. The utility fragment holds the biggest portion of the overall industry during the figure time frame. The utility area contains big-time salary possessed activities that depend on the lower Levelled Cost of Energy (LCOE) for the income, producing the need for the organization of high-effectiveness solar undertakings with insignificant functional expenses.
Given the geography, Asia-Pacific holds the biggest piece of the pie. The expanding establishments of solar advances around the private and business areas by strong government measures support the local market interest.
Great government drives remembering Feed for Tariff, net-metering, self-utilization plans, venture endowments, and other comparative changes have fed the innovation reception dramatically. This will support the market in the APAC region.
Regional Analysis:
The Asia Pacific (APAC) addresses a huge part piece of 43.02% of the overall sun-controlled PV mounting system market and is projected to create a CAGR of 11.24% during the assessed period. The APAC has a colossal people that are dependably creating. In that capacity, the interest for financially savvy power is growing as well. Clean fuel sources are continuously getting appealing in light of creating help for harmless to the ecosystem power associations by enabling game plans and rules with care campaigns.
Industry News:
- In February 2019, Canadian Solar got three solar force contracts with Alberta’s Ministry of Infrastructure. The agreement was for a 94MW PV portfolio in southeast Alberta, Canada. The best thing about this task is that it gives 55% of the Alberta Provincial government's power needs.
- In February 2019, Risen Energy and DTEK Renewables settled upon Ukraine’s most recent solar force station. This task gives a critical commitment to arrive at Ukraine's energy target.
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