Industry Analysis of Solar Panel Mounting Structure in India

Analytical Study of Solar Panel Mounting Structure in India from 2023 to 2033

The India solar panel mounting structure industry size was valued at US$ 167.9 million in 2018. It is anticipated to register a y-o-y growth of 10.6% in 2023.

The sales of solar panel mounting structure in India demand is projected to expand at a CAGR of 11.3% from 2023 to 2033. It is estimated to reach US$ 727.3 million by the end of 2033. India's solar panel mounting structure demand is projected to reach US$ 249.0 million by 2023.

Attributes	Key Insights
India Solar Panel Mounting Structure Industry Estimated Size (2023E)	US$ 249.0 million
India Solar Panel Mounting Structure Industry Projected Valuation (2033F)	US$ 727.3 million
Value-based India Solar Panel Mounting Structure Industry CAGR (2023 to 2033)	11.3%

Key India Solar Panel Mounting Industry Highlights

Solar Panel Mounting Structure Suppliers in India Embrace Green Solutions

The India solar panel mounting structure demand is projected to experience a significant impact from the ongoing sustainability drive. It is expected to lead to a new era of environmentally conscious design and manufacturing practices.

As the country focuses on addressing climate change and reducing carbon footprints, the solar industry, including mounting structures, is responding by prioritizing eco-friendly solutions. Manufacturers in the India solar panel mounting structure landscape are increasingly embracing sustainable design principles. This involves using recyclable and low-impact materials in the production of mounting systems.

Key companies prefer renewable materials and those with reduced embodied energy. These materials are anticipated to help them fulfill the goal of minimizing the environmental impact of solar installations. Additionally, manufacturers are exploring innovative techniques to reduce water usage, energy consumption, and emissions during manufacturing.

The India solar panel mounting structure space is further projected to significantly transform due to ongoing technological advancements and the integration of smart features into these systems. This shift is set to reshape the solar energy generation landscape, improving efficiency and convenience for consumers.

Technological advancements in sensor technology, data analytics, and real-time monitoring are also expected to revolutionize the space of solar panel mounting structures. These structures seek to incorporate sensors to collect real-time data on solar irradiance, panel temperature, wind speed, and orientation.

The ability of novel technologies to help analyze this data to optimize the positioning of solar panels for maximum energy production is anticipated to propel their adoption. Additionally, predictive maintenance algorithms are projected to be used to identify potential issues before they become key problems, reducing downtime and maintenance costs. The aforementioned factors are estimated to push India's solar PV mounting system industry through 2033.

Introduction of New Initiatives by the Government Pushes Growth in India

India is quickly becoming a pioneer in renewable energy on a worldwide scale. The potential for solar, wind, and hydropower is abundant in India. A solid regulatory and policy framework also provides a favorable business environment for solar energy projects.

India is fourth in significant installed capacity worldwide, with 176.5 GW of total renewable power (as of June 2023). There is plenty of potential for investments and growth in the country. It is due to India’s sizable & expanding population and the goal of attaining 450 GW of renewable energy capacity by 2030. This includes 10 GW of biofuels, 140 GW of wind power, and 280 GW of solar power. The Government of India recently established new goals to lower carbon emissions. It is expected to support solar panel mounting structures for utilitarian and non-utilitarian ends.

The National Solar Mission, one of the primary policies introduced in 2010, has proven to be a significant driving force behind the tremendous expansion of solar energy in India over the past 15 years. The sector is driven by recent initiatives, such as the policy to establish Ultra Mega Renewable Energy Parks.

The policy will likely allow foreign direct investment (FDI) as much as 100% under the automatic route. Another new initiative is the Standard Bidding Guidelines for tariff-based competitive bidding for grid-connected projects. Through productivity-linked incentives worth US$ 3.2 billion, active assistance has been given for solar photovoltaic (PV) manufacturing and supply chain diversification.

India Solar Panel Mounting Structure Sales Outlook, 2018 to 2022 vs. 2023 to 2033

The India solar panel mounting structure industry generated sales of US$ 167.9 million in 2018. It reached a valuation of US$ 225.3 million in 2022.

Historical India Solar Panel Mounting Structure Sales (2018)	US$ 167.9 million
Historical India Solar Panel Mounting Structure Sales (2022)	US$ 225.3 million

The rising demand for solar installations in residential, commercial, and industrial sectors is anticipated to drive solar panel mounting structure sales. Declining solar module costs are projected to result in innovative and cost-effective mounting solutions.

Technological advancements, such as adjustable angles and lightweight materials, are expected to enhance energy generation and system performance. However, challenges include regulatory complexities, high initial costs, quality assurance concerns, and a need for more skilled installation professionals.

From 2023 to 2033, the India solar panel mounting structure demand is projected to expand at a CAGR of 11.3%. The India solar panel mounting structure sales are characterized by dynamic growth and transformative trends, propelled by ambitious renewable energy goals and increasing environmental awareness.

Government policies and incentives, including subsidies and tax benefits, are also set to foster a favorable environment for solar energy adoption. There will likely be a high focus on indigenous manufacturing under initiatives like ‘Make in India.’

Cost optimization is a crucial consideration in the India solar panel mounting structure industry. Manufacturers are striving to develop cost-effective solutions without compromising on quality and performance. This includes using lightweight materials, efficient manufacturing processes, and standardized designs.

Solar module mounting structure manufacturers in India are expected to bag the support of government agencies to conduct research & development activities. These are expected to help lower the cost of solar energy-based components and increase efficiency. As per the Government of India, scientists in the country have created highly reliable, reasonably priced carbon-based perovskite solar cells.

The new cells are superior in temperature, moisture stability, and durability. The development of this first domestic perovskite-powered niche product in India is an untapped area of potential for manufacturers. These cells can pave the path for the growth of stable perovskite solar cells in future decades.

India Solar Panel Mounting Structure Sales Trends and Opportunities

The table below provides the latest trends observed in the India solar panel mounting structure industry, growth obstacles, and upcoming opportunities. Business strategies for the India solar panel mounting structure industry would enable stakeholders to invest in the right area and gain profit.

Attributes	Key Factors
Latest Trends	Launch of lightweight materials and cutting-edge tracking systems is projected to be a leading trend. Growing awareness of environmental sustainability is expected to boost the need for green solar mounting solutions made from recyclable materials.
Upcoming Opportunities	Government bodies are expected to create new India solar panel mounting structure industry opportunities with tax benefits and subsidies for solar energy system installations. Increasing efforts by several states in India to offer electricity to remote and rural areas are expected to open new doors to opportunities.
Challenges	Procuring ideal land for initiating large-scale solar projects can be a challenge in India as it is a densely populated nation. Solar power generation projects have an intermittent nature, which can create challenges for key players to implement energy storage solutions and grid integration tools.

Comparative Analysis of Adjacent India Solar Panel Mounting Structure Industries

The demand in India for solar panel mounting structures is likely to be impacted by the peer or tangential industries in the industrial automation sector. These include other industry such as the solar panel and global solar panel mounting structure industries. The global sales outlook of the India solar panel mounting structure industry can provide deeper insights that can help develop unique differentiating strategies to pursue growth and opportunity.

Out of the three industries, the solar panel industry is set to dominate, followed by the India solar panel mounting structure industry, with valuations of US$ 165.47 billion and US$ 249.0 million in 2023, respectively. All three industries are anticipated to expand with increasing government intervention and the implementation of several policies to help adopt solar energy.

Key Trends in the Solar Panel Mounting Structure Industry in India:

Attributes	India Solar Panel Mounting Structure Industry
CAGR (2023 to 2033)	11.3%
Industry Value (2023)	US$ 249.0 million
Growth Factor	Need to reduce carbon emissions and achieve renewable energy goals is set to push growth in the India solar panel mounting structure industry as the country is moving toward cleaner energy sources.
Key Trend	Rising environmental concerns, declining solar equipment prices, and government investments to propel solar energy adoption are expected to augment the growth of solar panel mounting solutions in India.

Opportunities in the Global Solar Panel Space:

Attributes	Solar Panel Industry
CAGR (2023 to 2033)	8.86%
Industry Value (2023)	US$ 165.47 billion
Growth Factor	Growing inclination toward decentralized energy generation is expected to be a leading growth driver as this shift would enable individuals to lower their dependence on conventional utilities.
Key Trend	Rising use of bifacial solar panels will likely improve energy efficiency and yield across commercial projects and utility-scale solar installations.

Analysis of the Global Solar Panel Mounting Structure Industry:

Attributes	Global Solar Panel Mounting Structure Industry
CAGR (2023 to 2033)	11.6%
Industry Value (2023)	US$ 15 billion
Growth Factor	Government norms, such as renewable energy targets and tax benefits can play a significant role in the industry by accelerating the development of innovative mounting infrastructure.
Key Trend	Launch of floating solar farms is anticipated to be a crucial trend as these have several benefits, including enhanced energy generation, relatively lower water evaporation, and efficient land use.

Region-wise Insights

The table below shows the growth potential of the India solar panel mounting structure industry alongside the CAGRs of the top 4 regions. Out of the four, North East India will likely lead the India solar panel mounting structure industry by exhibiting a CAGR of 12.5% from 2023 to 2033. North India and West India are expected to witness solar panel mounting structure sales at the CAGRs of 11.9% and 11.5%, respectively.

India Solar Panel Mounting Structure Sales Growth Outlook by Key Regions

Region	Value-based CAGR
North India	11.9%
South India	10.4%
North East India	12.5%
West India	11.5%

South India to Exhibit High Solar Panel Racking System Installations

South India is estimated to hold a prominent India solar panel mounting structure industry share in the forecast period. The region is projected to reach US$ 249.2 million by 2033 and expand at a 10.4% CAGR from 2023 to 2033.

South India receives a substantial amount of direct sunlight throughout the year. As per the Solar Radiation Atlas of India, published by the Ministry of New and Renewable Energy (MNRE) of India, ample sunlight can result in a higher solar energy potential in the region.

South India’s proximity to the equator is expected to provide ample direct sunlight to the region. It is anticipated to lead to increased solar insolation. States across South India have been proactive in promoting solar energy adoption.

State governments have introduced several policies, incentives, and subsidies to encourage solar power generation. These incentives include favorable feed-in tariffs, tax benefits, and land allocation for solar projects. These are set to make the region attractive for investors and businesses looking to set up solar installations.

South India also has a relatively well-developed power grid infrastructure. It will allow for the efficient integration of solar energy into the existing grid. This grid connectivity is projected to encourage installing solar power projects, creating a rising demand for mounting structures.

Delhi and Rajasthan in North India to Install Solar Panel Frames Through 2033

North India is projected to reach a valuation of US$ 161.1 million by 2033. The region is expected to register a CAGR of 11.9% in the India solar panel mounting structure industry in the assessment period. States in North India, such as Delhi, Rajasthan, Punjab, Uttar Pradesh, and others, are expected to witness a high demand for solar panel mounting solutions.

In March 2023, for instance, Delhi's finance minister, Kailash Gahlot, mentioned that the city aims to meet 25% of its energy requirements with solar power by 2025. He said that the amount the Delhi government has set aside for the power sector for the fiscal year 2023 to 2024 is essentially the same as the US$ 33400 million set aside the previous year: US$ 33480.

Several of India’s ongoing solar power plants are located in Rajasthan and Gujarat. According to information presented to the Lok Sabha by Union Minister for New and Renewable Energy R K Singh, Rajasthan is carrying out 23 GW of the 52 GW under execution. The capacity is expected to be operational from March 2023 to November 2026.

Due to superior sites with higher irradiation potential, Rajasthan has been at the forefront of increasing solar capacity during the past few years. The state enjoys a significant number of sunny days each year. The increased availability of large, continuous, non-agricultural land is set to facilitate the development of larger projects at a single location that can benefit from economies of scale.

Grid-connected Solar Projects in North East India to Fuel Solar Panel Fixture

Nagaland, Manipur, Assam, Tripura, and others are expected to be the leading states across North East India. The region is estimated to reach a valuation of US$ 119.0 million by 2033. It is anticipated to showcase a CAGR of 12.5% in the review period in the India solar panel mounting structure industry.

According to the Chief Minister of Assam, Himanta Biswa Sarma, the state is expected to produce more than 300 MW of solar power by 2026. This is one aspect of the state's initiatives to use renewable and sustainable energy sources.

In August 2023, for instance, to obtain approval for adopting a tariff to purchase 200 MW of electricity, Assam Power Distribution Company Limited (APDCL) filed a petition with the Assam Electricity Regulatory Commission (AERC). It will be purchased from Grid Connected Ground Mounted Solar PV Projects in Assam.

In Nagaland, on the other hand, Kohima Science College (KSU) placed ten solar street lights on the college grounds as part of an endeavor to go green in September 2023. The deployment of solar-powered streetlights was viewed as an urgent necessity. This was due to the requirement of providing a more secure, cleaner, and convenient environment to pedestrians, particularly students living on the college campus.

Photovoltaic Panel Racks in West India Gain Impetus with Growing Solar Projects

In the evaluation period, West India is expected to register a considerable CAGR of 11.5% in the India solar panel mounting structure industry. It is predicted to reach a valuation of US$ 198.1 million by 2033. Maharashtra, Goa, and Gujarat are estimated to remain at the forefront in the region.

In April 2023, for instance, Avaada Energy, a renewable energy provider, was awarded a 560 MW solar project. It aims to provide Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) solar energy. The plant is anticipated to produce around 951 million units per year. It would help reduce 8,85,563 tons of carbon dioxide emissions annually.

In September 2023, Goa announced that it aims to conduct a feasibility assessment and create a thorough report on grid-connected solar power plants across educational and administrative buildings. At the same time, it intends to install around 10MW ground-mounted solar power plants through the Goa Energy Development Agency (GEDA).

On the other hand, the Gujarat government implemented a new renewable energy policy in October 2023. By 2030, it plans to generate about 50% of its electricity with the help of renewable energy sources. The approach will encompass wind-solar hybrid, floating solar, ground-mounted solar, rooftop wind, canal top solar, and rooftop solar projects.

Category-wise Insights

Carport Mounting Photovoltaic Array Support to Gain Momentum by 2033

The table below highlights India's demand for solar panel mounting structures by product type. Under product types, the other segment will likely remain dominant in the assessment period.

The other segment, while smaller, is set to showcase a significant CAGR of 13.0% through 2033 in the India solar panel mounting structure industry. It is expected to be followed by rooftop, ground-mounted, and carport-mounting structure segments.

India Solar Panel Mounting Structure Industry Growth Outlook by Key Product Type

Product Type	Value-based CAGR
Rooftop	10.6%
Ground Mounted	11.5%
Carport Mounting Structure	12.4%
Others	13.0%

Regarding product type, the carport mounting structure segment is projected to follow in the footsteps of the other segment in the forecast period. It is anticipated to showcase growth at a CAGR of 12.4% from 2023 to 2033.

Several states in India are expected to invest in the development of modern carport mounting structures equipped with solar panels to generate electricity. These are expected to find extensive utilization in providing power to facilities or buildings where they are deployed. It also allows for the efficient use of parking spaces or land across commercial and urban areas with premium space.

It will likely be an ideal electricity cost-saving measure in India, which would also help offer a new source of revenue. Companies are anticipated to sell the excess energy generated back to the grid.

Companies to Adopt Solar Panel Installation Kits with Tracking Technology

The table below highlights the demand for solar panel mounting structures in India by technology. Under technology, the tracking segment will likely remain dominant in the assessment period.

The tracking segment, while smaller, is set to showcase a significant CAGR of 12.4% through 2033 in the India solar panel mounting structure industry. It is expected to be followed by the fixed segment.

India Solar Panel Mounting Structure Industry Growth Outlook by Key Technology

Technology	Value-based CAGR
Fixed	11.1%
Tracking	12.4%

The tracking segment will likely reach US$ 140.3 million by the end of 2033 based on technology. The segment is expected to showcase a CAGR of 12.4% during the evaluation period in the India solar panel mounting structure industry.

Modern tracking technologies are expected to help improve the sun’s angle at which it receives sunlight. This is further predicted to propel power generation capabilities as compared to fixed systems. Commercial buildings across India are set to look for tracking systems as these are projected to provide a high energy production rate compared to fixed systems. High production rates are anticipated to push return on investment (ROI) on the back of cost savings and energy output.

Tracking systems are also estimated to find extensive use across India with their ability to be integrated into several cutting-edge energy storage solutions. These are set to enable the storage of excess energy generated during cloudy periods or the night. The ability of these systems to refine the versatility and dependency of solar energy equipment is expected to drive demand.

Competitive Landscape

Several companies in the India solar panel mounting structure industry are expected to focus on cost optimization with multiple production processes. They also aim to adopt cost-effective materials to gain a competitive edge and bag new contracts.

Leading manufacturers are investing huge sums in the development and innovation of mounting structure materials & designs. This strategy would enable them to create easy-to-install, durable, and lightweight solar array mounting systems in India to enhance efficiency.

A handful of other key players in the India solar panel mounting structure industry focus on alliances and partnerships with engineering, procurement, and construction (EPC) firms and solar panel providers. They are doing so to strengthen their position and provide comprehensive solutions.

For instance,

• In October 2023, at the Renewable Energy India Expo 2023, Gautam Solar presented its cutting-edge and game-changing N-type TOPCon Solar Modules for the first time in India. The company displayed its energy supremacy in the global clean energy revolution. The piece of equipment will be offered in the 565 to 580 Wp wattage range. These modules have an optimal effectiveness of 22.45% and are primarily suitable for ground-mounted solar panel structures in India.
• In October 2023, Loom Solar announced the opening of a range of solar solutions at the Greater Noida-based Renewable Energy India Expo 2023. The products were introduced under the Mission-zero Emission initiative. The company is planning to target agricultural, residential, industrial, and commercial segments.
• In May 2023, the United States-based provider of solar modules, First Solar, started constructing a manufacturing facility in Chennai after being active in India for more than ten years. First Solar is making an investment of US$ 684 million in the 3.5 GW facility. It will create 'thin film' modules based on a unique semiconductor technology. After receiving the BIS certification, it anticipates beginning sales in November 2023.

Scope of the India Solar Panel Mounting Structure Industry Report

Attribute	Details
Estimated India Solar Panel Mounting Structure Sales (2023)	US$ 249.0 million
Projected India Solar Panel Mounting Structure Revenue (2033)	US$ 727.3 million
Value-based India Solar Panel Mounting Structure Industry CAGR (2023 to 2033)	11.3%
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
India Solar Panel Mounting Structure Industry Analysis	Value (US$ million)
Key Regions Covered in India Solar Panel Mounting Structure Industry	North India, South India, North East India, and West India
Key Segments Covered in India Solar Panel Mounting Structure Industry	By Product Type By Material Type By End-use By Technology By Sales Channel By Region
Key Companies Profiled in India Solar Panel Mounting Structure Industry	JSW Steel Pennar Industries Gauges International Nuevosol Energy Pvt. Ltd Vikram Solar Loom Solar Pvt. Ltd RenewSys India Pvt. Ltd Emvee Solar Systems Pvt. Ltd. Waaree Energies Ltd Metalkraft Ravano Green Power Ltd. JACKSON Group Strolar IIT Solar Power Pvt. Ltd. SunShell Power
India Solar Panel Mounting Structure Industry Report Coverage	Industry Forecast, Company Share Analysis, Competition Intelligence, Industry Dynamics and Challenges, and Strategic Growth Initiatives

India Solar Panel Mounting Structure Industry Outlook by Category

India Solar Panel Mounting Structure Industry by Product Type:

• Rooftop
• Ground Mounted
• Carport Mounting Structure
• Others

India Solar Panel Mounting Structure Industry by Material Type:

• Aluminum
• Steel
• Others

India Solar Panel Mounting Structure Industry by Technology:

• Fixed
• Tracking

India Solar Panel Mounting Structure Industry by End-use:

• Residential
• Commercial
  • Offices
  • Recreational Areas
  • Educational Institution
  • Hospitality
  • Healthcare Facilities
  • Others
• Industrial
• Government & Public Facilities
• Others

India Solar Panel Mounting Structure Industry by Sales Channel:

• B2B
• B2C

India Solar Panel Mounting Structure Industry by Country:

• North India
• South India
• North East India
• West India

Frequently Asked Questions

How big is the India solar mounting structure industry?

India solar mounting structure sales are set to reach US$ 727.3 million by 2033.

What are the leading solar panel mounting structure manufacturers in India?

JSW Steel and Pennar Industries are the leading manufacturers in India.

What are the three types of solar panel mounts?

Rooftop, ground-mounted, and carport-mounting structures are the three types.

Which is the most preferred material to make solar panel mounts?

Aluminum is expected to be highly preferred to make solar panel mounts.

Where are solar panel mounting structures most profitable?

Solar panel mounting structures are projected to realize significant profits in South India.