Solar PV mounting systems market in the residential sector is projected to witness a high surge with the escalating demand for continuous power supply across the urban as well as rural regions
— According to Global Market Insights, Inc., “Solar PV Mounting Systems Market, which accumulated a revenue of USD 6 billion in 2016, is forecast to surpass USD 9 billion by 2024.” Rising global warming concerns coupled with high preference for green technologies will steer Solar PV Mounting Systems Market space. The rising popularity of off-grid power across distant regions due to the escalated demand for unobstructed electricity supply will favorably influence the business map. Excellent government schemes such as subsidies, soft loans, power purchase agreements, and feed-in-tariffs, coupled with low component costs will favorably impact solar PV mounting systems industry trends. In 2015, the U.S. government had passed a bill for ITC (Investment Tax Credit) providing 30% tax benefit on PV systems installation. The deployment of such beneficial policies is likely to enhance the business scope.
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Solar PV mounting systems find applications across the utility, residential, and commercial sectors. Mounting expenditure on green construction subject to the enforcement of zero emission legislations will boost solar PV mounting systems industry share across the commercial sector over the coming timeframe. Solar PV mounting systems market size in the residential sector is projected to witness a high surge with the escalating demand for continuous power supply across the urban as well as rural regions.
Based on the technological trends, solar PV mounting systems market is segmented into fixed and tracking technologies. Tracking technology, which accounted for more than 19% of solar PV mounting systems industry size in 2016, is expected to substantially drive the industry growth over the coming years. The growth can be ascribed to the accessibility of the technology at lower costs along with its ability to increase the rate of power generation by 20% as compared to its counterparts.
Low space requirement, minimal maintenance costs, and less capital investment required for the system installation are the key factors that will favorably impact fixed solar PV mounting systems industry size. The ability of the systems to combat unfavorable climatic conditions will also positively leverage the business development.
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The notable participants in solar PV mounting systems market are UNIRAC, Quick Mount PV, Schletter, Inc., Landpower Solar Technology, Xiamen Grace Solar Technology Co., Ltd., K2 SYSTEMS, Suyash Metatech, RBI Solar, DPW Solar, Versolsolar Co., Ltd., and SNS Corporation.
Considering the ease of installation, compact size, and space optimization benefits, popularity of rooftop mounting systems is increasing among the customers. Rooftop solar PV mounting systems market will exhibit an annual growth rate of more than 8% over the period of 2017 to 2024. The attributing factor toward the market growth is emergence of distributed power to minimize the grid dependency.
Top companies operating in Solar PV mounting systems market have been focusing on cost effectiveness of the product along with performance enhancement to improve their profit margins. Business participants have also been adopting various growth strategies to expand their global presence over the coming timeframe.
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Table of Contents (TOC) of the report:
Chapter 4. Solar PV Mounting Systems Market, By Product
4.1. Global market share by product, 2016 & 2024
4.2.1. Roof-Top market, 2013 – 2024
4.2.2. Roof-Top market revenue by region, 2013 – 2024
4.3. Ground mounted
4.3.1. Ground mounted market, 2013 – 2024
4.3.2. Ground mounted market revenue by region, 2013 – 2024
Chapter 5. Solar PV Mounting Systems Market, By End-Use
5.1. Global market share by end-use, 2016 & 2024
5.2.1. Residential market, 2013 – 2024
5.2.2. Residential market revenue by region, 2013 – 2024
5.3.1. Commercial market, 2013 – 2024
5.3.2. Commercial market revenue by region, 2013 – 2024
5.4.1. Utility market, 2013 – 2024
5.4.2. Utility market revenue by region, 2013 – 2024
Chapter 6. Solar PV Mounting Systems Market, By Technology
6.1. Global market share by end-use, 2016 & 2024
6.2.1. Fixed market, 2013 – 2024
6.2.2. Fixed market revenue by region, 2013 – 2024
6.3.1. Tracking market, 2013 – 2024
6.3.2. Tracking market revenue by region, 2013 – 2024
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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