As per Future Market Insights, the solar panel mounting structures market is anticipated to attain a value pool of US$ 15 billion by 2023-end. Global demand for solar panel mounting structures is expected to rise at a CAGR of 11.6% to US$ 45 billion in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 15 billion |
| Projected Market Value in 2033 | US$ 45 billion |
| Growth Rate (2023 to 2033) | 11.6% CAGR |
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The solar panel mounting structures market is experiencing several latest trends, including the growing adoption of floating solar panels, the development of smart and connected solar panel mounting systems, and the rise of multi-purpose mounting structures. The latest trend in the solar panel mounting structures market is the growing adoption of floating solar panels. Floating solar panels are mounted on floating structures, such as pontoons or rafts that are anchored to the ground. This type of solar panel mounting system is becoming increasingly popular, especially in countries with limited land resources, as it allows for the use of water bodies, such as lakes, reservoirs, and irrigation canals, for solar power generation. The growing popularity of floating solar panels is providing new opportunities for the solar panel mounting structures market.
The development of smart and connected solar panel mounting systems is also a trend in the solar panel mounting structures market. Smart and connected solar panel mounting systems are equipped with sensors, communication devices, and software that allow for real-time monitoring and management of solar power systems. This type of technology makes it possible to optimize energy generation, improve energy efficiency, and reduce maintenance costs. The growing adoption of smart and connected solar panel mounting systems is driving innovation and growth in the solar panel mounting structures market.
The rise of multi-purpose mounting structures is a trend in the solar panel mounting structures market. Multi-purpose mounting structures are designed to support not only solar panels, but also other functions, such as storage, communication, and transportation. This type of mounting structure provides new and innovative solutions for the installation and maintenance of solar power systems and is becoming increasingly popular as a way to maximize the use of limited land resources. The rise of multi-purpose mounting structures is driving innovation and growth in the solar panel mounting structures market.
The solar panel mounting structures market in Europe is experiencing significant growth, driven by a number of factors, including the increasing demand for renewable energy and advancements in solar panel technology. Europe is leading the world in the transition to renewable energy, with several countries, such as Germany, Spain, and Italy, setting ambitious targets for the adoption of solar power. This is driving the growth of the solar panel mounting structures market, as more and more solar power systems are being installed to meet the growing demand for clean and renewable energy.
Advances in solar panel technology are also contributing to the growth of the solar panel mounting structures market in Europe. Solar panels have become more efficient, durable, and cost-effective, making it easier and more affordable to install and maintain solar power systems. This is driving the growth of the solar panel mounting structures market, as more and more consumers are choosing to switch to solar power.
The growing trend of smart and connected solar panel mounting systems is also driving the growth of the solar panel mounting structures market in Europe. Smart and connected solar panel mounting systems provide real-time monitoring and management of solar power systems, allowing for greater energy efficiency and cost savings. The growing popularity of smart and connected solar panel mounting systems is providing new opportunities for growth in the solar panel mounting structures market in Europe.
Solar panel mounting structures are used to mount solar panels on the surfaces safely and protect the solar panel from the damage. Solar panel mounting structures are placed in such a way that, solar panel may get maximum inclination angle on the solar panel surface to absorb maximum amount of energy from the sun. In general a usual solar panel mounting structure comes with aluminum material.
Solar panel mounting structure plays important role in the efficient working of solar system in rooftop as well as utility segment. They can be made for ground mounting, rooftops, sun tracker solutions and carports and others. In recent years, the technological advancement has led to better and faster installation, high durability, and reduced cost of the solar mounting structure.
Also perfect choice of the solar mounting structure for the project is very essential to get high production, efficiency and increased lifetime of the solar panels. Solar panel mounting structure must be fitted tightly, secured on the surface with high stability against the impacts such as snow, rain, hail, and wind.
They can be mounted on roof, poles or ground. Solar panel mounting structures are manufactured by the combination of fiber reinforcement with resin matrix. They are formed with help of continuous process manufacturing the mounting structures with high resilience and strength. There are different structural profiles of solar mounting structures such as I-Beam, U channel, Angle, Rod, & Hand Rail.
In roof top solar mounting structure wind loads are very less compared to an elevated solar panel mounting structure. With roof type solar mounting structure, wind shield can be provided which enables to withstand loads more than 180 kmph.
Modular solar panel mounting structures can be installed by using only nuts and bolts. Ground solar panel mounting structures are commonly manufactured by using easy manufacturing process. Fiberglass material used for ground solar panel mounting structure provides high strength to weight ratio with maximum durability and strength.
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Rapidly increasing demand for solar panels market is correspondingly boosting the global solar panel mounting structure market. With increasing awareness on climate change and global warming there are significant developments in renewable energy production.
Solar power generation is a low polluting power generation segment with minimal carbon emission compared to the conventional energy sources such as petroleum, oil and coal. This factors are creating growth avenues for the global solar panel mounting structure market.
The Initiatives to provide 100% energy through renewable energy by various countries across the globe are anticipate to create surge in demand for solar panel mounting structures. With the evaluation of solar industries, key players of solar panel mounting structure are focused on design and development of products to increase the optimized production and reduce the initial cost of the product.
Collaboration and merger activities has become the central strategy for the manufacturers to attain improved channel reach and corresponding growth in the global market shares. Offering customized mounting structures is an elementary strategy followed by the manufacturers to fulfil the customer requirements as per specific application.
Europe and North America are expected to dominate the global solar panel mounting structure market in the forecast period, owing for shifting towards renewable energy at a primary level. Asia Pacific is expected to higher growth to other regions over the forecast period. The growth is attributed to the significant investments for renewable energy generation by the governments in the countries from the region such as China, India, etc.
Further, Stringent environment regulation in Europe region and implementation of Renewable Energy Investment Tax Credit (REITC) in North America region, anticipate a substantial growth in the global solar panel mounting structure market.
Middle East & Africa and Latin America region are expected to grow with slow pace in the global solar panel mounting structure market. According to, Middle East Solar Industry Association (MESIA) rapid increase in energy investment in countries such as Saudi Arabia, Jordan, Egypt and the United Arab Emirates is expected to boost the Middle East & Africa solar panel mounting structure market during the forecast period.
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High speed steel material is expected to hold significant share in the global solar panel mounting structures market due to predominant sophisticated features over other material types. Roof mounted structures with advantage of space saving is expected to grow at highest growth rate and expected to propel the growth of solar panel mounting structures market.
“Increasing prominence of solar power generation in residential, commercial and industrial sectors is expected to drive the solar panel mounting structures market. For start-up or new entry manufacturer’s solar panel mounting structure market is favorable to start with less risk. This cumulative benefits are creating new avenues for solar panel mounting structures market growth over the forecast period”
Major market participants in the global Solar panel mounting structures market identified across the value chain include:
The Solar panel mounting structures research report presents a comprehensive assessment of the Solar panel mounting structures market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The Solar panel mounting structures research report provides analysis and information according to market segments, such as geographies, application, and industry.
The Solar panel mounting structures global 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 Solar panel mounting structures 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.
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