Press release
Solar PV Mounting Systems Market Poised to Hit $36.61 Billion by 2029 with Accelerating Growth Trends
Solar PV Mounting Systems
Solar PV Mounting Systems Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been significant growth in the size of the solar PV mounting systems market. The market's value is expected to increase from $26.92 billion in 2024 to $28.7 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.6%. The previous expansion of this market is largely due to the rise in solar PV installations, grid incorporation, and energy storage, heightened environmental consciousness, an uptick in utility-scale investments, and strict objectives set for installing solar PV systems.
How Will the Solar PV Mounting Systems Market Size Evolve and Grow by 2029?
In the coming years, the market size of solar pv mounting systems is projected to experience robust expansion. The market is set to increase to $36.61 billion by 2029, with a compound annual growth rate (CAGR) of 6.3%. Factors contributing to this development within the forecast period include clever and integrated solutions, urbanization coupled with land restrictions, government plans and incentives, decentralized power production, and climate change mitigation campaigns. Key trends that will shape the forecast period encompass artificial intelligence and automation, digital twin technology, modular and scalable models, lightweight and flexible mounting solutions, and advanced tracking systems.
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What Drivers Are Propelling the Growth of Solar PV Mounting Systems Market Forward?
The growth of the solar PV mounting systems market is anticipated to be driven by the escalating demand for renewable energy. Renewable energy encompasses energy drawn from resources naturally available over the timescale of human existence and are perceived to be environmentally friendly. The installation of solar energy systems, both at utility and dispersed levels, necessitates the safe placement of solar panels on rooftops, ground-mounted arrays, or other constructions utilizing a mounting system. This system is employed in the process of producing renewable energy to establish a robust and secure foundation for solar panels, enabling them to absorb sunlight and transmute it into electricity. This leads to augmented efficiency, durability, lifespan, and optimal utilization of space. For example, Department for Energy Security and Net Zero, a government department in the UK, reported in data released in September 2024 that renewable energy made up 51.6% of total energy generation in the UK in Q2 2024, marking an increase of 9.9 percentage points from the corresponding period in 2023. Thus, the surging demand for renewable energy is invigorating the solar PV mounting systems market.
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Which Emerging Trends Are Transforming the Solar PV Mounting Systems Market in 2025?
Leading businesses in the solar PV mounting systems market are concentrating on technologically advanced products like fixed-tilt racking systems to enhance solar power systems' efficiency and performance. In the context of solar panel mounting, a fixed-tilt racking system is a cutting-edge and unique structure that secures solar panels at a set position and a predetermined tilt angle. For example, in November 2022, GameChange Solar, an American solar energy equipment producer, launched the MaxDensity, a specific type of fixed-tilt racking system. Designed to optimize module density, this system boasts a high ground coverage ratio of up to 98%. It is compatible with all market-available framed modules and can be established in blocks of up to 7 MW. It also presents a host of innovative features such as high ground coverage ratio, adaptable module support and configuration, cost-effectiveness, ability to cope with wind and snow loads, and scalability.
What Are the Key Segments in the Solar PV Mounting Systems Market?
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
Subsegments:
1) By Rooftop Mounted: Fixed Rooftop Mounting Systems, Adjustable Rooftop Mounting Systems, Ballasted Rooftop Mounting Systems
2) By Ground Mounted: Fixed Tilt Ground Mounting Systems, Single Axis Tracking Ground Mounting Systems, Dual Axis Tracking Ground Mounting Systems
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Who Are the Key Players Shaping the Solar PV Mounting Systems Market's 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.
What Geographic Markets Are Powering Growth in the Solar PV Mounting Systems Market?
Asia-Pacific was the largest region in the solar PV mounting systems market in 2024. The regions covered in the solar pv mounting systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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