Solar PV Mounting Systems Market revenue to cross USD 21 Bn by 2028

Solar PV Mounting Systems Market revenue to cross USD 21 Bn by 2028

Sep 15, 2023

According to Global Market Insights Inc., the revenue of the solar PV mounting systems market is projected to exceed USD 21 billion by 2028. This growth is driven by several factors, including ongoing technological advancements in the field and increasing consumer interest in adopting solar PV systems for their cost-saving benefits.


The residential segment of the solar PV mounting systems market is expected to exhibit a Compound Annual Growth Rate (CAGR) of 2% by 2028. This growth can be attributed to the rising consumer inclination towards solar PV systems as a means to reduce electricity costs and contribute to a cleaner environment.


Technological advancements play a crucial role in the development of solar PV mounting systems. These advancements enable the industry to improve the efficiency, reliability, and affordability of the systems, making them more attractive to consumers. Additionally, innovations in mounting system designs and materials enhance the aesthetics and durability of the installations, further boosting their adoption.


Overall, the solar PV mounting systems market is experiencing significant growth, driven by the increasing demand for renewable energy and the favorable regulatory environment supporting solar power generation. As technology continues to advance and consumer awareness and acceptance of solar PV systems grow, the market is expected to witness substantial expansion in the coming years.


The solar PV mounting systems market has been witnessing a number of development trends that are shaping its growth and potential. Some of these trends include:


1. Technological advancements: The industry is witnessing continuous technological advancements in solar PV mounting systems. Innovations in design, materials, and installation techniques are leading to more efficient, cost-effective, and mounting solutions. This enables easier and faster installation of solar panels, reducing the overall system costs.


2. Integration with building structures: Solar mounting systems are increasingly being designed to integrate seamlessly with various types of building structures, such as roofs, facades, and carports. This trend is driven by the desire to maximize the use of available space and to create aesthetically pleasing solar installations that blend with the architectural design of the buildings.


3. Roof-mounting systems: Roof-mounted solar PV systems continue to dominate the market, especially in residential and commercial applications. The development trend in tile roof mounting systems, for example, focuses on creating specialized mounting solutions that are compatible with different types of tile roofs, ensuring proper load distribution and secure installation.


4. Adjustable and tracking systems: Adjustable and tracking mounting systems are gaining popularity due to their ability to optimize solar panel orientation and maximize energy generation. These systems automatically adjust the angle and position of solar panels to track the sun's movement throughout the day, resulting in increased energy output.


5. Enhanced durability and sustainability: There is an increasing focus on developing mounting systems that are highly durable, weather-resistant, and sustainable. This includes the use of corrosion-resistant materials, such as aluminum and stainless steel, to ensure long-term performance and withstand environmental conditions.


6. Standardization and certification: With the growing market and the need for reliable and high-quality mounting solutions, there is a push for standardization and certification of solar PV mounting systems. This helps ensure product quality, safety, and compatibility, thereby facilitating easier installation and system integration.


7. Market consolidation and strategic partnerships: The solar PV mounting systems market is experiencing consolidation, with major players acquiring smaller companies or forming strategic partnerships to expand their product portfolios and market reach. These alliances enable the development of comprehensive solutions and the provision of integrated services.


Overall, the development trends in solar PV mounting systems focus on improving efficiency, durability, aesthetics, and system integration. As the demand for solar power continues to rise, we can expect further advancements in the industry to meet the evolving needs of consumers and the market.

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