Solar Mounting Systems Market

The global Solar Mounting Systems Market is valued at USD 11.35 Billion in 2022 and is projected to reach a value of USD 23.97 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 9.81% between 2023 and 2030.

Premium Insights

The growth of the Solar Mounting Systems market is driven by the global focus on renewable energy sources and the commitment to reducing carbon emissions. This leads to an increased demand for solar energy solutions, including mounting systems. Additionally, government incentives, subsidies, and favorable policies aimed at promoting solar adoption make solar projects financially attractive, further stimulating market growth. Technological advancements like innovative tracking materials and system, improve the efficiency and cost-effectiveness of solar installations, contributing to increased adoption.

• The expanding solar industry, driven by declining solar panel costs and improvements in energy conversion efficiency, increases the demand for reliable and efficient mounting solutions
• Europe generated more than 36.3% of revenue share in 2022
• Asia Pacific is expected to grow at the quickest rate from 2023 to 2030
• Roof-Top segment accounted for the largest market growth in 2022
• Commercial segment accounts for the most significant market share in 2022

Economic Insights

Economic factors such as the cost-effectiveness of solar energy, return on investment, and the total cost of ownership play a crucial role in decision-making for businesses and consumers. Fluctuations and uncertainties in the economy can have an impact on the pace of solar project developments and investments. Furthermore, the manufacturing and supply chain dynamics of solar mounting systems are influenced by global economic conditions, trade policies, and the availability of raw materials. As the market expands, it also creates job opportunities in installation, maintenance, and related services, thus contributing to local economies.

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• Market Sentiment Analysis
• Demographic and Geographic Insights

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Top Market Trends

• Increasing Adoption of Smart and Robotic Mounting Systems: Mounting systems that are both intelligent and robotic are becoming increasingly popular because they can automate the process of installation, improve efficiency, and decrease expenses related to labor. These systems utilize sensors, actuators, and communication technologies to optimize the positioning of solar panels, monitor their movement in response to sunlight, and carry out self-cleaning tasks.
• Growing Demand for Lightweight and Durable Materials: The necessity for efficient transportation, easy installation, and lasting performance is the driving force behind the increasing demand for lightweight and long-lasting materials in solar mounting systems.
• Integration with Building Architecture (BIPV): There is a growing trend in incorporating solar mounting systems into building architecture, known as BIPV. This sustainable and visually appealing solution seamlessly integrates solar panels into various parts of buildings, such as facades, roofs, and pergolas.
• Emergence of IoT-Enabled Monitoring and Control Systems: The inclusion of Internet of Things (IoT) technologies in solar mounting systems is revolutionizing the ability to monitor and control operations. IoT sensors capture up-to-the-minute information on the efficiency of panels, surrounding environmental factors, and the overall health of the system, allowing for remote monitoring, upkeep, and enhancement.

Market Segmentation

Solar Mounting Systems The global Solar Mounting Systems market can be categorized into Product , Technology, Application, Region. The Solar Mounting Systems market can be categorized into Roof-Top, Ground Mounted based on Product . The Solar Mounting Systems market can be categorized into Fixed, Tracking based on Technology. The Solar Mounting Systems market can be categorized into Residential, Commercial, Industrial, Utility based on Application. The Solar Mounting Systems market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Based on Product

Roof-Top holds the largest share

Roof-top plays a crucial role in the Solar Mounting Systems market, holding the largest share due to the abundant availability of roof space in residential and commercial buildings, which makes rooftop installations a practical and space-efficient choice. Additionally, the shift towards decentralized energy generation and the desire for on-site renewable energy solutions contribute to the popularity of roof-top solar mounting systems.

Based on Application

Commercial accounts for largest market share

The commercial is expected to dominate the Solar Mounting Systems market because the industries are embracing solar energy to achieve sustainability targets, reduce costs, and secure a reliable and renewable energy source. Commercial applications include solar installations on rooftops, carports, and ground-mounted systems for various establishments such as offices, retail spaces, and industrial facilities.

Based on Region

Europe will lead the market

The Solar Mounting Systems market in Europe has the largest market share due to various factors including supportive government policies, favorable regulations, strong infrastructure, and a strong dedication to sustainable and renewable energy initiatives. Furthermore, the European market may benefit from a growing awareness of environmental issues, which could result in an increased adoption of technologies like solar energy. This aligns with the region's focus on reducing carbon emissions and transitioning to cleaner energy sources.

Competitive Landscape

The Solar Mounting Systems market is fiercely competitive, with companies striving to dominate the market. Key players focus on innovation, technology advancements, and collaborations to gain an edge. They offer various mounting solutions for residential, commercial, and utility-scale installations. Competitiveness is influenced by product differentiation, cost-effectiveness, and efficient installation processes. Adhering to industry standards, certifications, and environmental regulations also shape market dynamics. Integration of smart technologies and advanced materials helps differentiate products.

The players in the global Solar Mounting Systems market include Jiangsu Akcome Science & Technology, Versolsolar, Solar First, RBI Solar, Clenergy, Mounting Systems Inc., Suzhou Radiant Photovoltaic Technology, Schletter GmbH, Wind & Sun Ltd, Chiko Solar, K2 SYSTEMS, SnapNrack, Renusol GmbH, Changzhou Zixu Solar Power, SolarWorld, Xiamen Sunforson Power Co., Landpower Solar Technology, Quick Mount PV, Xiamen Grace Solar Technology, UNIRAC. among others.

Recent Market Developments

• April 2022: The Yachiyo India Manufacturing Private Limited manufacturing facility in Bhiwadi, Rajasthan, has started using a 625kWp rooftop solar PV system, which was installed by Cleantech Solar. This project was completed within a very short time frame of just 59 days, from the signing of the power purchase agreement (PPA) to the commissioning stage. Cleantech Solar also ensured that all regulatory and net metering approvals were obtained during this time.

Segmentation of the Global Solar Mounting Systems Market