Trusted Business Insights presents the Updated and Latest Study on Solar PV Mounting Systems Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Solar PV Mounting Systems Market
Industry / Sector Trends
Solar PV Mounting Systems Market size for 2016 was valued over USD 6 billion and is predicted to witness growth over 6% by 2024.
Market Segmentation, Outlook & Regional Insights: Solar PV Mounting Systems Market
Solar PV Mounting Systems Market, By End Use, 2016 & 2024 (USD Million)
Growing adoption of sustainable energy over conventional systems will escalate the global solar PV mounting systems market size. Stringent carbon capture norms coupled with ambitious renewable capacity addition target will further complement the industry growth. European Union (EU) under its 2030 climate and energy directive aim to reduce greenhouse gas emissions by 47% from 1990 level.
Government initiatives including soft loans, tax rebates, Feed in Tariff (FiT), and Power Purchase Agreement (PPA) will further fuel the solar PV mounting systems market share. The U.S. government passed a spending bill for Investment Tax Credit (ITC) in 2015, which allows a deduction of 30% from federal taxes on installation of photovoltaic systems.
Competitive tariff coupled with declining component cost will foster the solar PV mounting systems market share. Photovoltaic component cost has witnessed a significant drop of over 50% from 2014 levels. In 2017, Chinese panel prices witnessed 30% drop when compared to preceding year.
Solar PV Mounting Systems Market, By Product
Rooftop solar PV mounting systems market is predicted to witness growth over 8% owing to its compact size, ease of installation and space optimization features. Introduction of decentralized power to reduce grid dependency will further stimulate the product demand. Initiatives including financial assistance and tax credit schemes would further complement the business outlook.
Ease of maintenance, higher efficiency and facility for inclination & orientation will embellish the solar PV mounting systems market. Ongoing demand for large capacity photovoltaic plants along with measures towards expansion of existing systems will positively influence the industry growth.
Solar PV Mounting Systems Market, By End-Use
Rising demand for reliable and uninterrupted electricity supply from urban areas will foster the residential solar PV mounting systems market. In 2016, the Government of Sweden announced 60% subsidy to cover residential energy storage system installation cost including solar systems.
Growing investment towards development of green building structures will propel the commercial solar PV mounting systems market. Europe introduced 2010/31/EU directive, with an aim to ensure all new buildings to be net zero energy buildings by 2020. In 2016, France launched new tenders for installation of photovoltaic systems on commercial and industrial buildings to achieve 20.2 GW photovoltaic capacity by 2023.
Solar PV Mounting Systems Market, By Technology
Tracking accounted for over 19% of global solar PV mounting systems market share in 2016. Ability to enhance the generation rate by 20% when compared with available counterparts will boost the product demand. Decline in O&M expenditure along with significant product price drop will further complement the industry outlook. In 2016, first solar installed 52.5 MW capacity Shams Ma’an single-axis trackers PV power plant in Jordan.
Low capital cost along with limited space requirement will positively encourage the fixed solar PV mounting systems market. Low maintenance and ability of the system to withstand harsh climatic conditions will positively impact the growth.
Solar PV Mounting Systems Market, By Region
Increasing investment towards clean energy technologies along with growing measures towards energy security will drive the U.S. solar PV mounting systems market. Government initiatives including net metering, easy financial assistance and tax rebate will further encourage the adoption of photovoltaic system. In 2016, the U.S. Army signed USD 500 million contract with Apex for installation of 15.4 MW photovoltaic and 50.4 MW wind energy plant in Texas.
UK solar PV mounting systems market for 2016 is set to expand over 5% by 2024. The country measures to reduce fossil fuels dependence and long-term objectives to curb emissions up to 80% by 2050 will augment the industry outlook. The Government of UK has introduced ambitious plan to harness 30% of total electricity from renewable sources by 2020.
Growing demand for off-grid electricity coupled with measures towards adoption of clean fuel over traditional lighting source including kerosene and candles will propel Ghana solar PV mounting systems market size. In 2016, Ghana received a funding of USD 98 million from Industrial Commercial Bank of China and Stanchart Ghana for its rural electrification project. In 2016, the U.S. Trade and Development Agency granted USD 0.70 million to Ghana based Home Energy Africa (HEAfrica) limited towards the development of 100 MW PV projects with an aim to electrify 75,000 households.
China solar PV mounting systems market was valued over USD 2 billion in 2016. Growing electricity demand coupled with increasing investment to diversify clean energy portfolio will complement the business outlook. In November 2016, National Energy Administration (NEA) has set a target to add 110 GW capacity from photovoltaic including 60 GW from distributed photovoltaic energy systems by 2020.
Key Players, Recent Developments & Sector Viewpoints: Solar PV Mounting Systems Market
Key players in solar PV mounting systems market are Schletter, UNIRAC, K2 SYSTEMS, Quick Mount PV, RBI Solar, Mounting Systems, Landpower Solar Technology, SolarWorld, Xiamen Grace Solar Technology, Versolsolar, Clenergy, DPW Solar, SNS Corporation, Suyash Metatech.
The industry is competitive in nature and has witnessed several innovations as a part of strategy to increase global presence and enhance customer portfolio. In March 2017, SolarWorld introduced 350-watt module to reduce the costs of large scale projects, thereby achieving low balance of system costs through durability and peak performance.
Solar PV Mounting Systems Industry Viewpoint
These products are generally made up of materials including aluminum, stainless steel, iron, alloy, and plastic. It provides necessary inclination & orientation to the solar panels for maximizing the annual energy yield of plant. These systems are mainly deployed by residential, commercial and utilities customers for supporting plant till its lifespan and withstand harsh environmental conditions. Rising demand for rural electrification coupled with various government initiatives will play an important role in the industry growth roadmap
What are the Key Insights Covered: Exhaustive Solar PV Mounting Systems Market
1. Market size (sales, revenue and growth rate) of Solar PV Mounting Systems industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Solar PV Mounting Systems industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Solar PV Mounting Systems industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Solar PV Mounting Systems industry.
Research Methodology: Solar PV Mounting Systems Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Solar PV Mounting Systems Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
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