Europe Solar PV Mounting System Market Size was valued at USD 36.3 Billion in 2022. The solar PV mounting system market industry is projected to grow from USD 39.74 Billion in 2023 to USD 82.154 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.50% during the forecast period (2023 - 2032). A growing number of solar projects, rising investment in the adoption of renewable technologies, and an increase in the installation of solar PV mounting systems throughout Europe are all major market drivers to the industry growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
It is anticipated that solar photovoltaic (PV) mounting solutions will be highly popular. The industrial and commercial sectors in developing economies have a significant need for solar photovoltaic (PV) mounting systems, which propels the market's expansion. Progressions in the building sector and changing architectural forms and styles ought to propel photovoltaic mounting system sales both now and in the future. Moreover, authorities are under pressure to concentrate more on finishing a number of massive ground-mounted utility solar projects due to the combination of strict emission regulations and growing electricity demand. Additionally, the market is growing more quickly because to the durability and ease of installation of the high load capacity offered by the product in residential, commercial, and industrial applications. Furthermore, it is anticipated to have a beneficial effect over the forecast period due to its low maintenance costs and the advantage of not requiring additional room for installation.
The local, federal, and regional governments' regulations and incentives have a big impact on the market for solar PV mounting systems. The need for mounting systems is fueled by policies that promote the use of solar PV systems, such as feed-in tariffs, tax credits, rebates, and renewable energy mandates. Furthermore, safety and durability requirements for mounting systems are frequently specified by laws and building codes, guaranteeing that they adhere to industry best practices. Governments may also enact policies to encourage the adoption of locally produced mounting systems, which would support home production and create jobs. In conclusion, the growing capacity of solar energy, falling PV costs, environmental concerns, energy security, technological advancements, and government regulations that encourage this growth are all contributing reasons to the robust expansion of the global market for solar PV mounting systems. Together, these factors support the market's growth and the widespread use of solar photovoltaic systems. Thus, driving the solar PV mounting system market revenue.
The Europe Solar PV Mounting System market segmentation, based on product includes Rooftop Mounted and Ground Mounted. The rooftop mounted segment dominated the market mostly due to their durability in providing a high load capacity for home, business, and industrial applications, as well as their ease of installation. A combination of favorable economics related to utility-scale installation and growing investments in rooftop system integration and grid expansion will increase the business potential.
The Europe Solar PV Mounting System market segmentation, based on technology, includes Fixed and Tracking. The fixed category generated the most income. In addition to the continuous development of clean and new energy sources, strict laws and regulations aimed at driving the adoption of green energy will stimulate industry demand. More importantly, business expansion will be influenced by strict regulations for the installation of solar PV systems and a continuous decrease in component costs.
The Europe Solar PV Mounting System market segmentation, based on application, includes Residential, Commercial, Industrial, and Utility. The residential category generated the most income. Continuous technical advancement together with a growing consumer desire for solar photovoltaic system adoption due to reduced electricity costs would bolster the business picture. Together with declining component costs for solar PV mounting systems, the government's encouraging policies for the use of solar systems are expected to fuel industry expansion.
Figure 1: Europe Solar PV Mounting System Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
It is projected that the European market will grow significantly over the forecast period. The region's heavy reliance on renewable energy sources is the reason for this rise. The market expansion is also attributed to the local governments' support of power generation from renewable energy sources and their focus on modernizing the area's aging electrical infrastructure. Nations in the area have also been leading the way in the use of sustainable electricity sources. The European Union has set a goal to obtain 20% of its energy requirements from sustainable sources by 2020.
Figure 2: EUROPE SOLAR PV MOUNTING SYSTEM MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the solar PV mounting system market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, solar PV mounting system industry must offer cost-effective items.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 36.3 Billion |
| Market Size 2023 | USD 39.74 Billion |
| Market Size 2032 | USD 82.154 Billion |
| Compound Annual Growth Rate (CAGR) | 9.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Process, Applications, and Region |
| Region Covered | Europe |
| Countries Covered | Germany, France, UK, Italy, Spain, Sweden, Denmark, Luxembourg, Norway, Austria, and Rest of Europe |
| Key Companies Profiled | 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. |
| Key Market Opportunities | Encouraging laws and incentives from the government |
| Key Market Dynamics | ·      Growing demand from end users industries ·      Innovations in technology and growing investments |
Europe Solar PV Mounting System Market Highlights:
Frequently Asked Questions (FAQ) :
The Europe Solar PV Mounting System market size was valued at USD 36.3 Billion in 2022.
The market is projected to grow at a CAGR of 9.50% during the forecast period, 2023-2032.
The key players in the market 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 fixed category dominated the market in 2022.
The residential category had the largest share in the market.
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Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
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