Press release
Solar PV Mounting Systems Market : Eminent Players – RBI Solar, UNIRAC, Inc., Schletter GmbH, Mounting Systems GmbH, and K2 Systems GmbH
Solar PV Mounting Systems Market
The solar PV mounting systems market is anticipated to register noteworthy gains on account of rapid technological developments and proliferating demand for green energy solutions. Over the years, there has been a tremendous rise in the number of solar PV projects being constructed to cater various utility and commercial applications. With numerous technological strides, solar PV mountings are advancing in terms of cost reduction and product design for improved efficiency. This could boost its adoption over the forthcoming years.
Several governments have started to provide provisions like subsidies as well as tax rebates to promote the adoption and production of photovoltaic systems. Growing inclination towards sustainable technologies over conventional coal-fired alternatives have fueled the demand for PV mounting systems globally.
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Meanwhile, integration of IoT and smart solutions in renewable energy products has revolutionized the solar PV mounting business landscape. Manufacturers are integrating high-quality sensors within solar products to improve energy transmission, distribution, and generation across grids. These sensors allow users to control and monitor the equipment remotely in real-time. Considering such advancements, Global Market Insights, Inc., estimates that the solar PV mounting systems market may surpass USD 16 billion by the year 2026.
How is the residential sector supporting solar PV mounting system industry expansion?
Residential sector is steadily becoming one of the major end-user of solar products and are expected to hold tremendous growth potential in the near future. Favorable regulatory policies to promote the usage of solar products through feed-in tariffs, incentivization and net metering could significantly deepen product penetration across untapped or unexplored markets. Additionally, the availability of lower prices technology owing to surging global competition and the economies of scale could strengthen the demand solar PV mounting systems over the predicted timeframe.
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Why is Latin America gaining tremendous attention from solar companies?
Latin America is rapidly shifting towards sustainable energy infrastructure and is witnessing a drastic rise in grid integration projects to maximize their dependence on renewable energy. Strong regulatory measures are being adopted across the region to promote use of green energy solutions. The region is also considered to be geographically apt for solar energy generation.
These factors have made Latin America an ideal and competitive market for PV mounting companies. Rapid expansion of large utility projects across Brazil and Chile could stimulate the demand for solar PV mounting systems. Citing an instance, in 2019, Chile revealed its plans to develop the Sol del Desierto project, a solar facility that has a capacity of 230 MW.
Which business strategies are preferred by solar PV mounting system manufactures?
Prominent industry players like UNIRAC Inc., RBI Solar, K2 Systems GmbH, Schletter GmbH, Esdec Inc. and Mounting Systems GmbH are focusing on implementing several organic as well as inorganic business strategies like product innovations, crowdfunding and mergers to enhance their production capabilities. Taking February 2020 for instance, Next2Sun, a German start-up that provides mounting structures for bifacial solar modules and PV systems, is planning to conduct a crowdfunding exercise to raise almost €1 million for its inventory expansion and business development.
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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