Registering a Y-o-Y growth of 9% in 2022, the Europe photovoltaic mounting system market reached USD 35.7 billion by 2022-end. Total market size is projected to increase from USD 40.6 billion in 2023 to USD 178.7 billion by 2033. Over the forecast period (2023 to 2033), photovoltaic mounting system demand across Europe is likely to rise at a CAGR of 16%.
Key Trends Shaping Market Dynamics:
In recent years, factors such as increasing energy prices, rising carbon emissions, and depletion of renewable energy resources have put renewable energy sector into limelight.
People across regions such as Europe, East Asia, and North America are continuously embracing renewable energy sources such as solar panels or solar PV systems. High adoption of these solutions in turn is generating great growth potential for manufacturers.
Photovoltaic (PV) mounting systems are considered the framework or skeleton of solar panels. They are used to fix/mount solar panels or photovoltaic arrays or solar panels onto various surfaces, such as ground/ rooftops, or carports. This allows for applicability in industries as well as consumer sectors. It enables manufacturers to develop different strategies and areas of focus. These systems are also known as solar module racking systems.
Mounting systems are crucial in installing solar panels on rooftops and other structures. These are key components that influence the overall efficiency and longevity of a solar system. They are lightweight and adaptable and have become essential for modern solar panels.
Thanks to rising adoption of photovoltaic panels, Europe is becoming a highly lucrative market for PV mounting systems. These systems are becoming popular due to reduction in prices of solar panels, solar storage devices, and other products.
Photovoltaic mounting system sales across Europe are expected to rise rapidly during the next ten years. This is because more and more people are turning to renewable energy sources to reduce their carbon footprint and lower their energy costs.
Growing adoption of PV mounting systems in residential sector will boost Europe market during the projection period.
Introduction of various government incentives and schemes are encouraging people across Europe to install solar panels in their homes. This in turn will bolster photovoltaic mounting system sales.
Rising interest in space-based solar power is emerging as a key trend that will boost Europe photovoltaic mounting system industry.
Both government and non-government organizations across Europe are investing large amounts to explore the potential of space-based solar power systems. For example, the United Kingdom government recently commissioned space solar power stations research.
The new space-based solar power systems will use big solar power satellites for generating solar energy. This is anticipated to create new opportunities for PV mounting system manufacturers.
| Attributes | Key Insights |
|---|---|
| Estimated Europe Photovoltaic Mounting System Market Size (2023) | USD 40.6 billion |
| Projected Europe Photovoltaic Mounting System Market Value (2033) | USD 178.7 billion |
| Value-based CAGR (2023 to 2033) | 16% |
| Collective Value Share: Top 5 Companies (2023E) | 20% to 25% |
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As per Future Market Insights’ (FMI) latest analysis, sales of photovoltaic (PV) mounting systems in Europe increased at 5.5% CAGR from 2018 to 2022. Over the projection period (2023 to 2033), the market is expected to thrive at a stupendous CAGR of 16%.
Due to a confluence of factors, investors in this industry generally have a bullish outlook on the market.
First, the push towards renewable energy and a low-carbon economy is increasing interest in PV installations in Europe. PV system installations have been bolstered by governments' and regulators' policies and incentives for going solar.
Second, the expansion of the market will be helped by the development of innovative PV mounting systems. Because of developments in design, materials, and installation methods, today's mounting systems are more dependable and cost-effective than ever before.
Third, solar energy has become more cost-effective and competitive with conventional energy sources due to the declining costs of PV components such as solar panels and inverters. As a result, there has been an uptick in PV installations, which is increasing the need for mounting systems.
The Renewable Energy Directive and the Green Deal are two EU initiatives that will help the region reach its renewable energy goals and improve the market's prospects. These efforts support the PV mounting system industry by increasing the proportion of renewable energy in Europe's overall energy mix.
Supportive policies, technological advancements, cost reductions, rising demand for solar power, and a dedication to renewable energy are all expected to contribute to the expansion of Europe mounting systems industry.
The demand for photovoltaic (PV) mounting systems in Europe is driven by various factors. These drivers include:
Favorable Regulatory Environment: Europe has implemented supportive policies and regulations to promote renewable energy, including solar power. Measures such as feed-in tariffs, net metering, and renewable energy targets have incentivized the adoption of PV systems. These policies create a favorable market environment, driving the demand for PV mounting systems.
Ambitious Renewable Energy Targets: European countries have set ambitious renewable energy targets as part of their climate commitments. The European Union's Renewable Energy Directive sets a binding target of 32% renewable energy by 2030. This has led to increased investments in solar energy projects and, consequently, the demand for PV mounting systems.
Declining Costs: The cost of PV components, including solar panels, inverters, and mounting systems, has significantly decreased in recent years. This cost reduction has made solar energy more affordable and competitive with traditional energy sources. As a result, the demand for PV systems, along with mounting systems, has increased across Europe.
Technological Advancements: Continuous advancements in PV technology, including improvements in efficiency and durability, have boosted the demand for PV systems. These technological developments have also influenced the design and performance of PV mounting systems, making them more efficient, reliable, and cost-effective.
Energy Independence and Security: Europe's desire for energy independence and security has driven the demand for renewable energy sources, including solar power. PV systems provide a decentralized energy solution, allowing individuals, communities, and businesses to generate their own electricity. This desire for energy self-sufficiency in turn will positively impact the PV mounting system sales.
Job Creation and Economic Growth: The growth of the PV mounting system market in Europe has created employment opportunities and contributed to economic growth. The development, installation, and maintenance of PV systems require a skilled workforce, driving job creation in the renewable energy sector. Overall, the combination of environmental concerns, government incentives, and technological advancements is expected to continue driving demand for photovoltaic mounting systems during the next ten years.
Key Factors that May Hinder Sales of Photovoltaics Mountings Systems in Europe:
While the demand for photovoltaic (PV) mounting systems in Europe has been on the rise, several factors may hinder their sales in the region. These factors include:
Regulatory Changes and Uncertainty: Changes in government policies and regulations can create uncertainty in the market, impacting investor confidence and hindering sales of PV mounting systems. Shifts in subsidy schemes, feed-in tariffs, or net metering policies might disrupt the financial viability of PV projects, affecting the demand for mounting systems.
Grid Connection Issues: Challenges related to grid connection can impede the growth of the PV mounting system industry. In some regions, grid infrastructure may not be adequately prepared to handle the increased influx of PV installations. Delays in grid connection approvals or insufficient grid capacity can deter potential buyers from investing in PV systems and, consequently, mounting systems.
Permitting and Administrative Hurdles: The process of obtaining permits and navigating administrative procedures for PV installations can be complex and time-consuming. Lengthy approval processes, bureaucratic red tape, and unclear guidelines can discourage individuals and businesses from investing in PV systems, affecting the demand for mounting systems.
| Country | Germany |
|---|---|
| Projected CAGR (2023 to 2033) | 17.8% |
| Market Value (2033) | USD 42.2 billion |
| Country | United Kingdom |
|---|---|
| Projected CAGR (2023 to 2033) | 18.7% |
| Market Value (2033) | USD 3.5 billion |
| Country | Spain |
|---|---|
| Projected CAGR (2023 to 2033) | 19% |
| Market Value (2033) | USD 45.9 billion |
| Country | France |
|---|---|
| Projected CAGR (2023 to 2033) | 16.7% |
| Market Value (2033) | USD 13.2 billion |
| Country | Italy |
|---|---|
| Projected CAGR (2023 to 2033) | 16.7% |
| Market Value (2033) | USD 12.6 billion |
Rapid Shift Towards Renewable Energy Sources to Fuel PV Mounting System Demand in Germany
Germany is expected to remain a key market for photovoltaic mounting systems across Europe. As per Future Market Insights (FMI), Germany photovoltaic mounting system market is poised to exhibit 17.8% CAGR during the assessment period.
By 2033, total market valuation in the country is projected to reach USD 42.2 billion. Rising interest in renewable energy resources and favorable government support are key factors driving demand in Germany.
People across Germany are seeking to generate their own electricity and benefit from various government incentives This in turn is expected to create high demand for photovoltaic mounting systems.
Similarly, rising environmental concerns and technological advancements in solar panels and mounting systems will favor market expansion during the assessment period.
Demand in the Market to Remain High for Ground Mounted Systems
In the Europe photovoltaic (PV) mounting system industry, several types of mounting systems have significant applications. The choice of mounting system depends on various factors such as the installation location, roof type, ground conditions, and project requirements.
Among various product types, roof-mounted systems and ground mounted systems are the most commonly used ones. As per Future Market Insights, demand in Europe market is anticipated to remain high for ground mounted systems across Europe.
The ground mounted system segment is forecast to total a valuation of over USD 14.6 billion by 2033. Rooftop segment on the other hand is likely to create a total incremental $ opportunity of USD 8.9 billion between 2023 and 2033.
Ground-mounted PV systems are extensively used in Europe, particularly in large-scale utility projects and solar parks. These systems are installed on the ground, typically using fixed-tilt or single-axis or dual-axis tracking systems.
Ground-mounted systems offer flexibility in terms of layout and orientation to maximize solar energy capture. They are suitable for various terrains and can be easily scaled up for higher power generation.
Ground-mounted systems require more space compared to roof-mounted systems but are often preferred for larger installations due to their ease of access, maintenance, and potential for higher energy output.
Ground-mounted photovoltaic (PV) systems can be installed anywhere, from open fields to industrial sites, making them ideal for large-scale solar installations. The European government's focus on expanding renewable energy capacity is expected to boost ground-mounted systems significantly over the next few years.
Roof-mounted PV systems are widely utilized in residential, commercial, and industrial settings across Europe. These systems are designed to be installed on rooftops, either on pitched roofs or flat roofs.
Roof-mounted systems offer the advantage of utilizing existing roof space, making them a popular choice, especially in urban areas where ground space may be limited. They can be integrated into the building structure or installed as a separate system.
Various mounting methods such as flush mounting, tilted mounting, or ballasted systems are employed based on the roof type and structure.
Residential and commercial buildings alike make use of rooftop mounting systems. Demand for rooftop mounting systems is predicted to increase as more people in Europe switch to solar power and take advantage of government rebates and incentives for rooftop solar installations.
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The Europe photovoltaic (PV) mounting system industry has both established and new players. Companies compete to offer innovative, reliable, and affordable mounting solutions.
Leading manufacturers of PV mounting systems in Europe include Schletter GmbH, Renusol GmbH, Schletter Group, and others.
Schletter GmbH: A European leader in PV mounting systems, Schletter offers various roof- and ground-mounted PV mounting options. High-quality products, engineering expertise, and customer-centricity distinguish the company.
Renusol GmbH: Renusol develops innovative PV mounting systems for pitched, flat, and ground-mounted installations. It offers easy-to-install, flexible, modular energy-optimizing solutions.
K2 Systems GmbH: European PV mounting system provider, K2 Systems GmbH offers a variety of roof- and ground-mounting solutions. It makes durable, adaptable, and easy-to-install products.
Recent developments:
| Attribute | Details |
|---|---|
| Estimated Market Value (2023) | USD 40.6 billion |
| Projected Market Value (2033) | USD 178.7 billion |
| Anticipated Growth Rate (2023 to 2033) | CAGR of 16% from 2023 to 2033 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Units and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Product Type, Sales Channel, Material Type, Technology, End Use |
| Regions Covered | Europe |
| Key Countries Covered | Germany, France, Poland, Spain, Italy, BENELUX, Nordics, Europe, Russia, United Kingdom |
| Key Companies Profiled | GSE Integration; Systovi; STI Norland; ESDEC; SolTech Energy; Renusol; Sun'R Power; Tamesol; Sun Ballast; SonnenKraft; Photowatt; Victron Energy; Lorentz Pumps; Atersa Group; SunPower Corporation; Bauder Ltd; Armacell Ltd; EcoFasten Solar; Hilti (Great Britain) Ltd.; K2 Systems Ltd; Sunfixings Ltd; Sunsquare Ltd; BayWa r.e. UK Ltd.; Clenergy; Flexisolar; Mounting System GmbH; Schletter Group; Van der Valk Solar Systems BV; UK Solar Generation; Schletter Group |
The market is valued at USD 40.6 billion in 2023.
Systovi, STI Norland, and ESDEC are the leading market players.
Changes in government policies and regulations restrain the market.
Supportive policies and regulations promote renewable energy, including solar power.
The market is estimated to reach USD 178.7 billion by 2033.
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Europe Photovoltaic Mounting System Market
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