According to a research study, Photovoltaic Mounting System market is set to witness robust growth during 2021-2031 with a CAGR of 10% to 11%.
Demand from solar power generation and rise in energy demand in urban areas has been gaining a massive momentum in the market.
Although the market was not entirely affected highly amidst the pandemic, due to ever increasing popularity of solar energy as well as the importance of maintaining, disruptions in supply chain processes could have slightly impacted the same.
What is Driving Demand for Photovoltaic Mounting Systems
The adoption and advancement of renewable energy sources has grown immensely, with solar panels being among the most adopted form of renewable energy. Attributing to this, the rising number of solar projects are estimated to be primary driving factor for the growth in demand for Photovoltaic mounting systems.
Global PV mounting system market growth witnessed substantial dip in Y-o-Y growth in the year 2020, owing to the nationwide lockdowns and supply chain interruptions caused by COVID-19 Pandemic. Which has stopped few sunlight-based undertakings and significantly affected the business tasks across few nations. So, an enormous interest supply hole is developing, which will influence the development of the different areas, including sunlight.
Around 26% to 27% of global Solar photovoltaic Mounting System capacity grew in 2017, and the number is rising, as is evidenced by the increase in demand for structural components for rising solar capacity.
As such, the interest for cost-effective force is developing too. Expanded interests in inexhaustible assets and a usually bright environment for a more significant part of the year have prompted the acknowledgment of sun-based energy as the best option in contrast to familiar fuel sources.
Opportunities that lead to Boost the Growth of the Market for Solar Panels
Photovoltaic mounting systems Market Outlook find application over the utility, private, and business fragments. Mounting utilization on the green advancement subject to the necessity of zero release establishments will drive the sunlight-based photovoltaic mounting frameworks industry, over the business zone.
Extending care regarding the troublesome effects of ozone hurting substance transmissions on the earth and human prosperity is scheduled to enable the use of sun-oriented-based force age.
Asia Pacific Market Outlook for Photovoltaic Mounting System
The Asia Pacific (APAC) expected to hold prominent share in the global sun-powered photovoltaic mounting system market.
China and India are expected to spearhead the utilization of the product across commercial space in the sun-based photovoltaic cell producing, with Australia and ASEAN countries following intently.
The APAC has a genuinely extensive populace that is reliably developing.
The government initiatives for investments in renewable energy infrastructure in the developing countries from the region creates positive growth prospects for the Photovoltaic Mounting System market growth.
Europe Demand Potential
EU-5 principal countries, BENELUX and NORDICS in Europe are also expected to have substantial share in the global market owing to the advancements in the renewable energy technologies resulting in early adoption. Furthermore enforcement of zero emission power sources coupled with economic benefits from renewable energy sources is fuelling the market growth in the region.
Segment Over view by Product Type
Photovoltaic Mounting System is diversified in two different variants such as fixed and following (tracking).
The market is overwhelmed with fixed portion and is relied upon to hold the most significant share during the conjecture time frame as the underlying speculation for getting the fixed sun-oriented photovoltaic mounting frameworks is lower than its other options.
Segment Over View by User Base
The market based on end users was divided by individual residents, commercial buildings and civic utilities.
While residential and commercial sectors mainly utilize the product for heating solutions, it has been observed that the is market is ruled be the civic utility segment for power generation farms during past few years owing to high degree of installation coverage per square meters and is required to stay prevailing during the estimated time frame.
Who are the Key Manufacturers and Suppliers
- Schletter Group,
- Unirac Inc.,
- SolarWorld AG,
- K2 Systems GmbH,
- Quick Mount PV,
- Land Power Solar Technology Co. Ltd.
- , RBI Solar Inc,
- Mounting System GmbH,
- Xiamen Grace Solar Technology Co. Ltd.
- , Clenergy, Tata International Ltd.,
- Xiamen Universe Solar Tech. Co. Ltd.,
- Xiamen Corigy New Energy Technology Co. Ltd,
- PV Racking, Van der Valk Solar Systems BV, amongst others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Photovoltaic Mounting Systems Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
By End Use Sector:
- Civic Utilities
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- South Asia & Pacific
- Australia and New Zealand (ANZ)
- East Asia
- South Korea
- Middle East and Africa
- GCC Countries
- Northern Africa
- South Africa
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