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Global Solar PV Mounting Systems Market Information analyzed by Product (Rooftop and Ground Mounted), By Technology (Fixed and Tracking) By End-User (Residential, Commercial and Utility) and By Regions - Global Forecast to 2023.Solar PV Mounting Systems Key Players Analyzed in Report:
Mounting System GmbH, Schletter Group, Clenergy, Xiamen Universe Solar Tech. Co. Ltd., PV Racking, SolarWorld AG, Land Power Solar Technology Co. Ltd., Unirac Inc., Tata International Ltd., Van der Valk Solar Systems BV, Quick Mount PV, Xiamen Grace Solar Technology Co. Ltd., K2 Systems GmbH, Xiamen Corigy New Energy Technology Co. Ltd, RBI Solar Inc.
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Gl Solar mounting structures are primarily made of aluminum or steel which have a reputation for their fluctuating prices. The volatility in prices of the raw materials used has been identified as a market restraint. The fluctuation of steel and aluminum further subject solar mounting systems to the same uncertainty. It is challenging to find suitable alternatives due to the requirement of mounting structures for solar PV to be resilient in most weather conditions.
The market is expected to reach a valuation of USD 23,107 Mn by the end of 2023. The growth of the solar PV mounting systems market is dependent on the growth of its parent market, solar energy market. The global solar PV demonstrated a substantial increase of 26% in 2017. The increasing demand for solar power is likely to catalyze the demand for solar PV mounting systems in the forthcoming years.
The focus of adoption and advancement of renewable energy sources has grown tremendously, with solar panels being among the most adopted form of renewable energy. It has been observed that the demand for mounting structures has been accelerating due to the rising number of solar projects. The global solar PV capacity grew by 26% in 2017, and the number is rising, as is evidenced by the increase in demand for structural components for rising solar capacity. Mounting systems for solar PV are vital for the structural support they offer for high efficiency in the working of solar panels. Notably, small-scale PV installations in the residential sector and in remote areas are expected to increase demand for rooftop solar mounting structures. Moreover, the growing global shift toward leveraging renewable energy sources to reduce carbon emissions has promoted the growth of solar energy which is viewed as having high potential and being cost-effective, thus directly and positively affecting the growth of the solar PV mounting systems market.
Market Segments Analysis:
MRFR’s report offers a detailed segment analysis of the market based on product, technology, and end-user. By product, the solar PV mounting systems market has been segmented into rooftop and ground mounted. The rooftop segment currently accounts for 52.13% share of the market and is projected to strike a CAGR of over 10% through the assessment period. Meanwhile, the ground mounted segment is foretasted to register a relatively higher CAGR and retain a dominant share towards the end of 2023.
By technology, the market is segmented into fixed and tracking. The fixed segment currently holds the maximum market share and is likely to retain its pole position through the forecast period. However, the tracking segment is expected to strike a higher CAGR in the foreseeable future.
By end-user, the market has been segmented into commercial, residential, and utilities. The utilities segment currently holds a dominant share of the market and is likely to retain its dominance over the next couple of years. It, also, is expected to register the highest CAGR of 12.22% across the review period.
Regional Analysis:
The report analyzes the market by its regional segments which include North America, Europe, the Asia Pacific and the Rest of the World. The Asia Pacific (APAC) accounts for a majority share of 43.02% of the global solar PV mounting system market and is projected to grow at a CAGR of 11.24% during the forecast period. The APAC has a truly massive population which is consistently growing, as such the demand for cost-efficient power is growing as well. Clean energy sources are increasingly becoming attractive due to growing support for renewable energy deployment in the form of encouraging policies and regulations combined with awareness campaigns. China leads the APAC market in solar photovoltaic cell manufacturing with Japan and India following closely. Increased investments in renewable resources and a naturally sunny climate for a majority of the year have led to the recognition of solar energy as the best alternative to conventional energy sources.
Meanwhile, the Rest of the World is growing at the highest CAGR of XX, with Latin America leading growth for this regional segment. Solar PV systems in Latin America are affordable and are emerging rapidly due to investments being made in countries such as Chile, Mexico, and Brazil. The Middle East & Africa, however, is likely to grow exponentially due to the region being naturally conducive to the adoption of solar power as a majority of the region is a desert and receives long hours of sunlight. Several construction projects which leverage and integrate solar energy are expected to drive the solar PV mounting systems market in the region.
TABLE OF CONTENT
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continued…
LIST OF TABLES:
TABLE 1 LIST OF ASSUMPTIONS 25
TABLE 2 LIST OF THE LARGE SOLAR POWER PROJECTS 29
TABLE 3 GLOBAL SOLAR PV MOUNTING SYSTEMS MARKET, BY PRODUCT, 2016 TO 2023 (USD MILLION) 39
TABLE 4 GLOBAL SOLAR PV MOUNTING SYSTEMS MARKET, BY PRODUCT, 2016 TO 2023 (MW) 39
TABLE 5 GLOBAL SOLAR PV MOUNTING SYSTEMS MARKET, BY TECHNOOLOGY, 2016 TO 2023 (USD MILLION) 42
Continued…
LIST OF FIGURES:
FIGURE 1 GLOBAL SOLAR PV MOUNTING SYSTEMS MARKET: MARKET STRUCTURE 19
FIGURE 2 KEY ADOPTION CRITERIA OF GLOBAL SOLAR PV MOUNTING SYSTEMS MARKET 19
FIGURE 3 RESEARCH PROCESS OF MRFR 21
FIGURE 4 TOP DOWN & BOTTOM UP APPROACH 24
Continued…
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