Global Fixed Solar Pv Mounting Systems Market Overview:
As per MRFR analysis, the Fixed Solar Pv Mounting Systems Market Size was estimated at 10.51 (USD Billion) in 2022. The Fixed Solar Pv Mounting Systems Market Industry is expected to grow from 11.44 (USD Billion) in 2023 to 24.55 (USD Billion) by 2032. The Fixed Solar Pv Mounting Systems Market CAGR (growth rate) is expected to be around 8.85% during the forecast period (2024 - 2032).
Key Fixed Solar Pv Mounting Systems Market Trends Highlighted
Fixed solar PV mounting systems are rapidly gaining popularity due to the increasing need for renewable resources and prospects of greater efficiency of solar PV. Governments all over the world are enacting supportive and incentive policies in order to foster the use of solar energy, hence increasing the growth of the market region. Other key market drivers include the eroding cost of solar panel production, improvement in mounting systems technologies, and the quest for efficient and affordable sources of solar energy. The increasing concern about the environment and the thirst for a clean energy market are equally stimulating the development of the market.
The market for fixed solar PV mounting systems has recently trended towards more ground-mounted systems and more tracking technologies being incorporated in a bid to capture solar energy. The market is also experiencing the introduction of thin and anti-corrosive solar panel-supporting structures that are meant to survive extreme conditions. Opportunities for growth are found in the increasing solar residential and commercial markets, opportunities for ‘going off grid’ through the use of microgrids, and the design of hybrid solar and storage systems. The increasing penetration of solar energy in developing countries, along with the emphasis on greener concepts, is more likely to keep fuelling the growth of the market in the near term.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Fixed Solar Pv Mounting Systems Market Drivers
Growing Demand for Renewable Energy Sources
The key factor driving the growth of the Fixed Solar Pv Mounting Systems Market Industry is the growing global demand for renewable energy sources, such as solar power. Various governments across the globe are increasingly adopting policies and offering incentives to promote the adoption of solar energy, and this is driving an immense increase in the installation of solar photovoltaic systems.
Fixed solar PV mounting systems are crucial components of solar PV systems, as they provide a stable and effective way of mounting solar panels on a rooftop, ground-mounted structure, or any other surface.Therefore, as the demand for solar energy continues to increase, the demand for fixed solar PV mounting systems will also increase.
Technological Advancements and Cost Reductions
Technological advancements and cost reductions in the Fixed Solar Pv Mounting Systems Market Industry are contributing to the growth of the market. Manufacturers are continuously developing new and innovative fixed solar PV mounting systems that are more efficient, durable, and cost-effective. These advancements have led to a decrease in the overall cost of solar PV systems, making them more accessible to a wider range of consumers and businesses.
Additionally, economies of scale and increased production capacity have also contributed to cost reductions, further driving the growth of the market.
Government Policies and Incentives
Government policies and incentives play a significant role in driving the growth of the Fixed Solar Pv Mounting Systems Market Industry. Governments worldwide are recognizing the importance of renewable energy sources and are implementing various policies and incentives to promote the adoption of solar energy. These policies include feed-in tariffs, tax credits, and rebates, which provide financial benefits to individuals and businesses that install solar PV systems.
Additionally, governments are setting renewable energy targets and mandates, which further stimulate the demand for fixed solar PV mounting systems.
Fixed Solar Pv Mounting Systems Market Segment Insights:
Fixed Solar Pv Mounting Systems Market Mounting Type Insights
The Global Fixed Solar PV Mountings Systems Market is categorized by mounting type into ground-mounted systems, rooftop-mounted systems, and building-integrated photovoltaic systems. The market is dominated by ground-mounted systems, which should become more dominant in the forecast period. The demand for ground-mounted systems grows due to their lower costs of installation and maintenance and higher efficiency caused by better tilt of panels. The second-biggest category of mounting systems is rooftop-mounted systems, which should grow at the fastest rate in the forecast period.
The demand for the rooftop installation of PV panels increases due to their smaller area of land use, better aesthetic values, and potential self-consumption of electricity generated. The third and smallest category of mounting is BIPV systems which allow combining power generation with architectural values. The facades or roofing of a building are covered with photovoltaic panels, which serve both as an energy source and building material. This solution is expected to grow the fastest, thanks to government support and the general trend of developing sustainable buildings.
The Global Fixed Solar PV Mountings Systems Market is growing due to increasing efficiency and growing popularity of solar energy, global warming, government support, net-metering, other installations, and technological advancements. The choice of PV mounting depends on various factors such as land or roof availability, costs of maintenance and installation, aesthetic values and regulations in a given country, and so a diverse market should stay in place.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Fixed Solar Pv Mounting Systems Market Material Insights
The Fixed Solar Pv Mounting Systems Market segmentation by material includes Aluminum, Steel, Concrete, and Polymers. Aluminum is the dominant material used in the manufacturing of fixed solar PV mounting systems due to its lightweight, high strength-to-weight ratio, and corrosion resistance. The Fixed Solar Pv Mounting Systems Market revenue from aluminum is projected to reach USD 5.62 billion by 2026, exhibiting a CAGR of 9.1% during the forecast period. Steel is another commonly used material, particularly in large-scale solar installations, owing to its durability and cost-effectiveness.
Concrete is gaining traction in regions with abundant sunlight and limited land availability, as it provides a stable and cost-efficient foundation for mounting solar panels. Polymers, such as fiberglass and carbon fiber, offer advantages like flexibility and lightweight properties, making them suitable for specific applications.
Fixed Solar Pv Mounting Systems Market Tilt Angle Insights
The Fixed Solar Pv Mounting Systems Market segmentation by tilt angle includes Fixed Tilt, Single-Axis Tracking, and Dual-Axis Tracking. Among these, the Fixed Tilt segment held the largest market share in 2023, accounting for over 60% of the global revenue. This is attributed to its cost-effectiveness and simplicity of installation compared to tracking systems. However, the Single-Axis Tracking segment is expected to witness significant growth in the coming years, owing to its ability to increase energy yield by up to 25%. The Dual-Axis Tracking segment is also gaining traction, particularly in regions with high solar irradiance, as it can further improve energy yield by up to 40%.
Fixed Solar Pv Mounting Systems Market Application Insights
The Fixed Solar Pv Mounting Systems Market is segmented by application into residential, commercial, and utility-scale. The residential segment is expected to hold the largest market share in 2023, accounting for over 40% of the global market revenue. This is due to the increasing adoption of solar PV systems in residential properties, driven by factors such as rising energy costs, government incentives, and growing environmental awareness. The commercial segment is also expected to witness significant growth, owing to the increasing demand for solar PV systems in commercial buildings, such as offices, warehouses, and retail stores.
The utility-scale segment is expected to grow at the fastest rate during the forecast period, driven by the increasing deployment of large-scale solar PV projects by utility companies and independent power producers. The Fixed Solar Pv Mounting Systems Market is expected to grow from a market valuation of USD 11.44 billion in 2023 to USD 24.55 billion by 2032, exhibiting a CAGR of 8.85% during the forecast period.
Fixed Solar Pv Mounting Systems Market Regional Insights
The Fixed Solar Pv Mounting Systems Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, APAC is expected to dominate the market in the coming years. The growing demand for renewable energy sources and government initiatives to promote solar energy adoption are key factors driving the market growth in this region. China and India are the major contributors to the APAC market, accounting for a significant share of the overall market revenue. Europe is another major region for the Fixed Solar Pv Mounting Systems Market, with countries like Germany, Spain, and the UK leading the market.
Government incentives and favorable policies have supported the adoption of solar energy in this region. North America is also a significant market for Fixed Solar Pv Mounting Systems, with the US being the key contributor. The increasing adoption of solar energy in the residential and commercial sectors is driving the market growth in this region. South America and MEA are emerging markets for Fixed Solar Pv Mounting Systems, with increasing investments in renewable energy projects. The growing awareness of the benefits of solar energy and government initiatives to promote clean energy are expected to drive market growth in these regions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Fixed Solar Pv Mounting Systems Market Key Players And Competitive Insights:
Major players operating in the Fixed Solar Pv Mounting Systems Market are actively engaged in formulating strategies designed to facilitate sustainable benefits amidst increasing and strong market competition. Vital Fixed Solar Pv Mounting Systems Market spectacles such as innovations, research and development, capacity expansion and a series of benefits reinforcing leading Fixed Solar Pv Mounting Systems Market growth – drivers remain decisive components of business development and decision-making in leading market actors. Additionally, the Fixed Solar Pv Mounting Systems Market scale and outlook view continue to improve, creating an opportunity for the industry to develop new technologies and methodologies to drive efficiency.
Several leading companies operating in the Fixed Solar Pv Mounting Systems Market have entered into partnerships and cooperation with other competitive market players in order to fully maximize available resources and advanced services. Cooperation and co-production strategies have greatly energized the potential of these players, allowing them to occupy significant market positions. It is in this context that most players compete when it comes to the available alternative Fixed Solar Pv Mounting Systems Market opportunities in an attempt to be the best. Moreover, leading companies are entering into partnerships such as mergers and acquisitions, further marginalizing the market share of the top players.
Trina Solar is a leading multi-crystalline silicon Fixed Solar Pv Mounting Systems Market specialist, widely known for providing top-quality, high-performance solar mounting systems all around the world. The company is committed to innovating and providing leading market products according to customer requirements. Its Fixed Solar Pv Mounting Systems Market includes modules, mounting systems for fixed installations, as well as installation solutions for residential, commercial and utility installations. The company’s global presence and commitment to ensure clean, clear power underscores this leading market position.
Key Companies in the Fixed Solar Pv Mounting Systems Market Include:
- K2 Systems
- Esdec Solar Group
- RBI Solar
- Array Technologies
- Schletter Group
- Canadian Solar
- IronRidge Technologies
- Aurora Solar
- Baywa r.e.
- GreenLancer
- Nextracker
- Hilti
- SunPower
- Renusol
- Trina Solar
Fixed Solar Pv Mounting Systems Market Industry Developments
The Fixed Solar Pv Mounting Systems Market is projected to grow from USD 11.44 billion in 2023 to USD 24.55 billion by 2032, at a CAGR of 8.85% over the forecast period. Increasing demand for renewable energy sources, coupled with government incentives and supportive policies, is driving the growth of the market. Additionally, technological advancements and cost reductions in solar PV systems are further contributing to the market expansion. Key players in the market include Schletter Group, SunPower Corporation, and Array Technologies.
Recent news developments in the market include the launch of innovative mounting systems with improved durability and efficiency. For instance, in 2023, Tesla introduced its Solar Roof V4, a fully integrated solar roofing system with an improved aesthetic design and enhanced energy generation capabilities. Furthermore, strategic partnerships and acquisitions among market players are shaping the competitive landscape. In 2022, NEXTracker, a leading solar tracker manufacturer, acquired SunLink, a provider of fixed-tilt mounting systems, to strengthen its product portfolio and expand its market reach.
Fixed Solar Pv Mounting Systems Market Segmentation Insights
- Fixed Solar Pv Mounting Systems Market Mounting Type Outlook
- Ground-Mounted Systems
- Rooftop-Mounted Systems
- Building-Integrated Photovoltaic Systems
- Fixed Solar Pv Mounting Systems Market Material Outlook
- Aluminum
- Steel
- Concrete
- Polymers
- Fixed Solar Pv Mounting Systems Market Tilt Angle Outlook
- Fixed Tilt
- Single-Axis Tracking
- Dual-Axis Tracking
- Fixed Solar Pv Mounting Systems Market Application Outlook
- Residential
- Commercial
- Utility-Scale
- Fixed Solar Pv Mounting Systems Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
10.51 (USD Billion) |
| Market Size 2023 |
11.44 (USD Billion) |
| Market Size 2032 |
24.55 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
8.85% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
K2 Systems, Esdec Solar Group, RBI Solar, Array Technologies, Schletter Group, Canadian Solar, IronRidge Technologies, Aurora Solar, Baywa r.e., GreenLancer, Nextracker, Hilti, SunPower, Renusol, Trina Solar |
| Segments Covered |
Mounting Type, Material, Tilt Angle, Application, Regional |
| Key Market Opportunities |
Emerging markets, technological advancements, utility-scale projects, cost-effective solutions and increasing environmental awareness |
| Key Market Dynamics |
Growing demand for renewable energy technological advancements government incentives increasing rooftop solar installations declining solar module costs |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Fixed Solar Pv Mounting Systems Market size was valued at USD 11.44 billion in 2023 and is projected to reach USD 24.55 billion by 2032, exhibiting a CAGR of 8.85% during the forecast period.
The Asia Pacific region is expected to dominate the Fixed Solar Pv Mounting Systems Market throughout the forecast period. This dominance can be attributed to the increasing demand for renewable energy sources and government initiatives to promote solar energy adoption in countries such as China, India, and Japan.
The key factors driving the growth of the Fixed Solar Pv Mounting Systems Market include the rising demand for solar energy, increasing government incentives and supportive policies for solar installations, technological advancements leading to improved efficiency and cost-effectiveness of solar PV systems, and growing environmental concerns.
Key competitors in the Fixed Solar Pv Mounting Systems Market include Schletter Group, SunPower Corporation, Array Technologies, Inc., Everest Solar Systems Pvt. Ltd., and KP Solar.
Fixed solar PV mounting systems are primarily used in ground-mounted solar power plants, commercial rooftops, and residential solar installations.
The Fixed Solar Pv Mounting Systems Market is expected to register a CAGR of 8.85% during the forecast period from 2024 to 2032.
Challenges faced by the Fixed Solar Pv Mounting Systems Market include fluctuations in raw material prices, intense competition, and stringent regulatory requirements.
Opportunities for growth in the Fixed Solar Pv Mounting Systems Market include technological advancements, increasing demand for solar energy in emerging economies, and government initiatives to promote clean energy.
Key trends in the Fixed Solar Pv Mounting Systems Market include the integration of advanced technologies such as IoT and AI, the growing popularity of bifacial solar panels, and the increasing demand for customized mounting solutions.
The COVID-19 pandemic had a moderate impact on the global fixed solar PV mounting systems market. The initial lockdowns and supply chain disruptions caused a temporary slowdown, but the market recovered as governments implemented stimulus packages and renewable energy projects resumed.
