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The solar pile is used to support solar panels, which has eliminated the installation process, excavating and pouring concrete footings. These pile systems are arranged to support single or multiple panels, such as in an array of solar panels. Increasing demand for a clean source of energy, continuous advancement in technologies, and increased government funding in the renewable energy sector drives the solar pile market in the projected period. Increasing investment and supportive government regulation for harnessing renewable energy are holding promising growth opportunities for the solar pile market.
The solar pile market is segmented into type and material. The type segment is further segmented into pipe piles, “I” beams, and helical piles. Helical piles segment is projected to boost the market growth as it reduces noise for installation, no excavation or spoils, and ease of removal. The material segment is further divided into cement, steel, timber, and plastic. The steel segment contributes to the largest market share in the global market owing to suitable for handling ad high mechanical strength.
Increasing demand for a clean source of energy, growing awareness for mitigating carbon emission, and government funding in the renewable energy sector are the key factors driving the growth of the solar pile market. However, the high initial investment for constructing solar piles is likely to restraints market growth.
Key Market Driver -
Inceasing demand for clean source of energy
Key Market Restraint -
High initial investment
Some of the leading manufacturers of solar pile include Keller, Groundwork Group LLC, Solar Pile International, McDowell NW Pile King, PACO Steel & Engineering, Houser Solar Services, Ram Jack, HCB Solar Ground Mount, and Conte Company.
The solar pile market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is estimated to hold the largest market share in the global market, owing to increasing investment in solar energy and supportive government regulations. North America is also projected to increase its market revenue in the coming years, as united states hold the major market in the region, growth is attributed with growing awareness for mitigating carbon footprint in the global market. Europe is experiencing growth owing to increasing focus on clean energy and government funding, which drives the demand for solar piles in the global market.
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