Latest News- Solar PV Mounting Systems Market: Fixed is expected to lead the Technology segment during 2025-2029

The Solar PV Mounting Systems Market is being driven by Supportive government policies

The Solar PV Mounting Systems Market is expected to grow at a CAGR of 15.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 11531.1 million. The global solar photovoltaic (PV) mounting systems market is experiencing significant growth due to the increasing adoption of Zero Energy Buildings (ZEBs). These structures aim to generate as much energy as they consume annually, contributing to sustainability and combating climate change. This trend is driven by heightened energy efficiency awareness, stringent government regulations, and escalating traditional energy costs. Solar PV systems are crucial for ZEB certification, leading to a burgeoning demand for advanced mounting solutions. Innovative technologies, such as solar trackers and integrated building-mounted systems, are gaining popularity for their ability to optimize energy capture and system performance. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Technology
  • Fixed
  • Tracking
• Type
  • Ground-mounted systems
  • Rooftop mounting systems
  • Floating solar mounting systems
  • Carport systems
• Deployment
  • Large-scale
  • Medium-scale
  • Small-scale
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • France
    • Spain
  • North America
    • Canada
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Supportive government policies
• Rising number of solar PV projects
• Declining cost of solar PV panels

However, the market also witnesses some limitations, which are as follows:

• Increasing number of alternative energy sources
• Maintenance cost for solar PV systems
• Growing adoption of concentered solar power (CSP)

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Market Scope in Solar PV Mounting Systems Market Research Report

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Research Analysis Overview

The Solar PV Mounting Systems market is witnessing significant growth as businesses and individuals shift from fossil fuels to solar power. Solar PV panels, made of silicon solar modules or PV modules, are mounted using Photovoltaic Mounting Systems on rooftops or ground-mounted structures. These systems are predominantly made of steel, aluminum, and iron, with stainless steel gaining popularity due to its durability. The transition to renewable energy sources like solar power reduces carbon emissions, contributing to a greener environment. Green hydrogen production and low carbon electricity storage through batteries are complementary technologies that further enhance the value of solar power. Government incentives such as tax breaks, feed-in tariffs, and subsidies continue to drive the market's expansion.

Market Research Overview

The Solar PV Mounting Systems market is a significant segment of the expansive global electrical components and equipment industry. This sector caters to the manufacturing and installation of mounting systems for Solar Photovoltaic (PV) panels. As the world transitions towards renewable energy sources to reduce carbon emissions and lessen reliance on fossil fuels, the demand for Solar PV systems is surging. The market size for electrical components and equipment, which includes Solar PV mounting systems, is calculated based on the consolidated revenue generated by various sub-sectors such as motors, automation solutions, electrical distribution and protection equipment, and small generators, among others. The rental and leasing of electrical components and equipment to industrial, commercial, and residential consumers is also taken into account in the market estimation.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/