Solar Carport Market to Reach USD 4.86 Billion by 2033, Driven by EV Integration and Sustainability Goals - Straits Research

According to a new report by Straits Research, the global solar carport market size was valued at USD 2.58 billion in 2024 and is projected to grow from USD 2.76 billion in 2025 to USD 4.86 billion by 2033, registering a CAGR of 7.3% during the forecast period (2025-2033). The rising demand for sustainable infrastructure, increasing adoption of electric vehicles (EVs), and favorable government incentives are major factors driving the expansion of the solar carport market globally.

A solar carport is a covered parking structure integrated with solar panels on its roof, designed to produce renewable energy while providing shade and protection for vehicles. These structures are increasingly installed in residential, commercial, and institutional spaces to reduce energy costs, promote clean energy, and support electric mobility. With the growing emphasis on carbon neutrality and the transition to renewable power, solar carports are becoming an essential component of sustainable energy ecosystems.

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Integration with Electric Vehicle (EV) Charging Stations Driving Market Growth
The growing adoption of EVs worldwide is significantly fueling the demand for solar carports with integrated EV charging stations. These systems combine clean energy generation with EV charging, reducing dependency on grid electricity and fossil fuels. In February 2024, TotalEnergies launched a large-scale solar carport system with 1,500 solar panels and 30 EV chargers at its logistics facility near Lyon, France, marking a strong step toward clean mobility infrastructure. Solar-powered EV charging helps reduce grid strain and supports energy independence, making such systems ideal for office parks, residential complexes, and commercial parking areas.

Sustainability and CSR Commitments Accelerating Adoption

The surge in Corporate Social Responsibility (CSR) initiatives is another key factor driving solar carport adoption. Companies are increasingly investing in solar carports to minimize their carbon footprint, meet regulatory mandates, and enhance their brand reputation. IKEA, for instance, completed solar carport installations across all its Dutch stores by the end of 2024 as part of its "People and Planet Positive" strategy. These installations not only supply clean energy but also support public EV charging, showcasing corporate commitment to sustainability and renewable energy adoption.

Challenges: Space and Infrastructure Limitations

Despite the market's promising growth, space and infrastructure limitations present challenges, especially in urban areas where land availability is scarce and grid systems are outdated. Solar carports require significant installation space and modernized grid connectivity for efficient operation. These constraints can lead to higher upfront costs and complex project planning, particularly for small businesses and municipalities operating under tight budgets.

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Commercial and Industrial Sectors Creating Strong Growth Opportunities

The commercial and industrial sectors are emerging as major adopters of solar carports. Large corporations such as Walmart and Costco have installed extensive solar carport systems across their facilities to reduce energy costs and advance their sustainability agendas. In mid-2024, Walmart India expanded its solar carport installations at Best Price stores, generating over 500 kW of solar energy per site, powering essential store operations and supporting its 2035 renewable energy target. These developments underscore the growing trend of transforming parking areas into energy-generating assets.

Regional Insights: Asia-Pacific Leading the Market

The Asia-Pacific (APAC) region dominates the global solar carport market, driven by rapid urbanization, government incentives, and large-scale solar energy initiatives. China, India, and Japan are at the forefront of this growth. China's goal of achieving 1,200 GW of solar capacity by 2030 and India's ongoing push for 100 GW of solar power are propelling regional demand. Meanwhile, Japan's focus on clean energy following the Fukushima disaster continues to drive adoption in both residential and commercial sectors.

North America is also witnessing significant growth, supported by key players such as SunPower Corporation, Baja Carports, and Positive Energy Solar. The region benefits from strong government incentives like the 30% Investment Tax Credit (ITC) in the U.S., as well as the growing EV market. Similar momentum is seen in Europe, led by Germany and the UK, where green infrastructure policies and renewable energy goals encourage widespread solar carport adoption.

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Key Market Segments

By Type: Cantilever, T-shape, Semi-cantilever, and Others (Portable & Customized Solar Carports)

By Vehicle Arrangement: One-row and Two-row Carports

By Capacity: Less than 500 kW, 500 kW-1 MW, and Above 1 MW

By Application: Residential, Commercial, and Others (Government & Non-profits)

By Region: North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America

Among these, the T-shape solar carport segment holds the largest market share due to its efficient space utilization and multi-vehicle coverage design. The two-row vehicle arrangement is widely preferred in commercial and public parking spaces for its higher energy yield and parking capacity. The automotive and transportation sector leads in application share, with growing adoption by corporate campuses, shopping malls, and universities that seek clean energy and enhanced parking solutions.

Key Players

ANTAI Technology Co., Ltd.
Tata Power Solar Systems Ltd.
Schletter
Positive Energy Solar
CHIKOUSA
RenEnergy UK
Xiamen Sunforson Power Co., Ltd.
SolarSense UK Limited
SunPower Corporation
Baja Carports

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Analyst Insights

According to Straits Research analysts, the global solar carport market is poised for robust growth through 2033, fueled by clean energy targets, EV adoption, and advancements in solar PV technology. The market's future lies in integrated energy solutions that combine renewable generation, EV charging, and smart energy management systems. With government incentives and increasing ESG-driven investments, solar carports are set to play a crucial role in urban sustainability and smart city development worldwide.

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