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Solar PV Mounting Systems Market Competitive And Growth Analysis 2024 | Jinko Solar Solutions Pvt. Ltd., Tata Solar International Ltd., Gonvarri Solar Industries
Solar PV Mounting Systems Global Market Report 2024
The solar PV mounting systems market size is expected to see strong growth in the next few years. It will grow to $35.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to smart and integrated solutions, urbanization and land constraints, government policies and incentives, decentralized power generation, climate change mitigation efforts. Major trends in the forecast period include artificial intelligence and automation, digital twin technology, modular and scalable designs, lightweight and flexible mounting solutions, advanced tracking systems.
Market Overview -
Solar PV mounting systems refer to the structural framework or support structures used to install and secure photovoltaic (PV) solar panels in a fixed position, allowing them to capture sunlight and convert it into electricity efficiently. These mounting systems play a crucial role in a solar PV system's overall performance, stability, and durability.
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Rising Demand for Renewable Energy Drives Growth in Solar PV Mounting Systems Market
The increasing demand for renewable energy is expected to propel the growth of the solar PV mounting systems market going forward. Renewable energy refers to energy derived from resources that are naturally available on a human timescale and are considered environmentally friendly. The number of solar installations, both at the utility and dispersed levels, requires safely putting solar panels on rooftops, ground-mounted arrays, or other structures with the help of a mounting system. It is used in renewable energy production process to provide a stable and secure base for solar panels, allowing them to capture sunlight and convert it into electricity, resulting in increased efficiency, durability, longevity, and space utilization. For instance, in March 2023, according to the Energy Information Administration (EIA), a US-based federal agency that provides official energy statistics and information, the combined wind and solar share of total generation increased from 12% in 2021 to 14% in 2022, with renewable generation surpassing coal and nuclear generation for the first time. Therefore, the increasing demand for renewable energy is boost solar PV mounting systems market.
Competitive Landscape -
Major companies operating in the solar pv mounting systems market are Jinko Solar Solutions Pvt. Ltd., Tata Solar International Ltd., Gonvarri Solar Industries, First Solar Energy Inc., SunPower Solar Corporation, Array Technologies Solutions Inc., NextGen Tracker Inc., Valmont Solar Industries Inc., Schletter Solar Solutions Group, Unirac Solar Mounting Inc., Clenergy Technology Co.Ltd., PV Hardware Solutions SLU, GameChange Solar Services India Pvt. Ltd., Mounting Solutions GmbH, AeroCompact Solar GmbH, RBI Solar Solutions Inc., K2 Solar Systems GmbH, Ideematec Solar AG, Soltec Power Holdings SA, Esdec Solar Technologies BV, Arctech Solar Solutions Pvt. Ltd., SolarWorld Mounting AG, Landpower Solar Technology Co.Ltd., Xiamen Grace Solar Technology Co. Ltd., Versolsar Solar Hangzhou Ltd.
Cutting-Edge Fixed-Tilt Racking System Revolutionizing Solar PV Efficiency and Performance
Major companies operating in solar PV mounting systems are focusing on technologically advanced products, such as fixed-tilt racking systems, to improve the efficiency and performance of solar power systems. A fixed-tilt racking system is an innovative and specialized framework for mounting solar panels in a fixed position with a predetermined tilt angle. For instance, in November 2022, GameChange Solar, a US-based solar energy equipment manufacturer, introduced the MaxDensity, a fixed-tilt racking system. This system is designed to maximize module density and has a high ground coverage ratio of up to 98%. It can support all commercially available framed modules and can be installed in blocks of up to 7 MW. Additionally, it offers several innovative features, such as a high ground coverage ratio, module support and configuration, installation and cost-effectiveness, wind and snow load handling, and scalability.
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Key Segments -
The solar PV mounting systems market covered in this report is segmented -
1) By Product: Rooftop Mounted, Ground Mounted
2) By Component: PV Modules, Inverters, Racking, Battery, Other Components
3) By Technology: Fixed, Tracking
4) By Application: Residential, Commercial, Industrial, Utility
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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