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Fossil fuel is an undisputed energy resource in the last century. Over the year’s enormous amount of fossil fuel has been consumed to enhance the quality of life of human beings. Now the world is facing severe concern for rising global warming threatening the environment. The world has taken some serious steps to attenuate the increasing carbon emission. Solar power is one of the clean sources of energy with infinite amount of energy.
Solar energy playing a pivotal role in providing clean energy. Solar PV panels help to generate ample amount of electricity. In various countries, utility-scale solar PV panels have been installed to achieve clean energy policy. Solar PV mounting systems are must for the installation of solar PV. Mountings are made from steel, aluminum, iron, etc.
Various mounting systems are available in the market which is adaptable and lightweight for the efficient installation of solar PV. Solar power has continuously gained attention to mitigate the rising carbon emission which expected to increase the solar PV installation. Thus in the upcoming years solar PV mounting system has bright market due to development renewable energy.
Key Market Driver -
Key Market Driver – Remarkable and consistent growth in solar PV installation
Key Market Restraint -
Key Market Restraint – Highly fragmented market
The solar PV mounting system market is segmented by product, technology, and application. Based on product type, the market is segmented as rooftop mounted and ground-mounted. The rooftop segment is expected to offer lucrative market for the growth of the solar PV mounting systems market. The fixed segment accounts the sizeable amount of market but tracking technology is gaining importance due to flexibility over moving solar PV panels. Industrial application is projected to offer substantial market size due to large installation of solar PV panels by utility industry.
The leader across the world united to fight against rising global warming. Renewable energy is playing a significant role in alleviating the increasing carbon emission. Many countries are reforming their energy policies and ensuring a highly positive framework for the installation of solar PV. Also, residential and commercial buildings are adopting solar PV panels. Therefore, shifting trend towards renewable energy and continuous installation by major countries is expected to fuel the demand for solar PV mounting systems.
Highly fragmented market due to several players in the market offering mounting services that create a competitive market. Also, the expensive installation of solar PV panels will act as a restraint to the growth of solar PV mounting systems market.
The major companies operating in solar PV mounting system are Schletter Inc., Unirac, Inc., Solar World, K2 Systems GmbH, Quick Mount PV, Land Power Solar Technology Co. Ltd, RBI Solar Inc., Mounting Systems, Inc., Clenergy, Tata International Limited, Pennar Industries Limited, Wind & Sun Ltd, Van der Valk Solar Systems, and Antaisolar-Fujian Antai New Energy Tech. Co., Ltd.
The global solar PV mounting systems market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The United States has the largest utility-scale solar photovoltaic installation that would provide electricity to more than 12 million American homes. In the forthcoming years the total installed U.S. PV capacity is expected to more than double by 2024. In addition, the solar PV installation for residential and commercial purposes is continuously growing to mitigate the rising carbon emission. These factors are expected to fuel the demand for solar PV mountings systems in North America. The European Union installed around 8GW of solar power system in 2018 according to estimate from SolarPower Europe.
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Many European countries are revising energy policies to achieve EU 2020 targets by removing the trade measures on solar panels and ensuring a highly positive framework for solar through Clean Energy Package Legislation. Germany represents the largest solar power market in Europe followed by Turkey and Netherlands. Thus, rising installation of solar power plants to meet the clean energy target is expected to boost the solar PV mounting systems market in Europe.
The Asia Pacific continues to influence the global solar power market due to various levels of economic progress exhibited by emerging countries like China, India, and Japan among others. China is massively investing in expansion of solar power plants to strengthen its clean energy policies. Also the tremendous demand for electricity and limited energy sources of fossil fuel is anticipating the growth of the solar PV mounting system in Asia Pacific. The GCC countries are alluring towards renewable energy to lower down their carbon emissions. Recently UAE and Saudi Arabia invested sizeable amount to install major solar power plants in their region. Therefore, shifting trends towards renewable energy is expected fuel the demand for solar PV Mounting systems in MEA.
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