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The European solar PV mounting system market has witnessed significant growth in recent years, driven by various market trends and factors. One prominent trend is the increasing adoption of renewable energy sources, particularly solar power, to reduce carbon emissions and combat climate change. Governments across Europe have been implementing supportive policies and incentives to promote the use of solar energy, leading to a surge in installations of solar PV systems.
Moreover, technological advancements in solar PV mounting systems have contributed to the market's growth. Innovations such as lightweight and durable materials, adjustable tilt angles, and easy installation processes have made solar PV systems more efficient and cost-effective. These advancements have attracted both residential and commercial customers, further boosting market demand.
Additionally, the declining costs of solar PV components, including modules, inverters, and mounting systems, have made solar energy more affordable and accessible to a wider range of consumers. This cost reduction has been driven by economies of scale, improved manufacturing processes, and increased competition among suppliers. As a result, the upfront investment required for installing solar PV systems has decreased, making them a more attractive option for consumers seeking renewable energy solutions.
Another key trend in the European solar PV mounting system market is the growing popularity of rooftop solar installations. With limited available land and increasing urbanization, rooftop solar PV systems offer a practical solution for generating renewable energy in densely populated areas. Homeowners, businesses, and public institutions are increasingly turning to rooftop solar installations to harness solar energy and reduce their dependence on traditional grid electricity.
Furthermore, the rise of energy storage solutions, such as batteries, is influencing the European solar PV mounting system market. Battery storage allows consumers to store excess solar energy generated during the day for use during periods of low sunlight or high electricity demand. This technology enhances the reliability and self-consumption of solar PV systems, making them more attractive to consumers looking to achieve energy independence.
The European solar PV mounting system market is also witnessing a shift towards more sustainable and environmentally friendly products. Manufacturers are focusing on developing mounting systems made from recycled materials or those with minimal environmental impact. This trend aligns with the growing emphasis on sustainability and corporate responsibility among consumers and businesses.
Moreover, market players are increasingly offering integrated solutions that combine solar PV modules, mounting systems, inverters, and energy management systems. These comprehensive solutions simplify the installation process and optimize the performance of solar PV systems, driving demand for integrated packages.
The European solar PV mounting system market is experiencing significant growth fueled by various market trends, including the increasing adoption of solar energy, technological advancements, declining costs, the popularity of rooftop installations, the rise of energy storage solutions, and a focus on sustainability. These trends are expected to continue shaping the market landscape and driving further growth in the coming years.
Europe Solar PV Mounting System Market Highlights:
Europe Solar PV Mounting System Market Overview
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
Solar PV Mounting System Market Trends
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Rising demand from end user sectors is driving market growth
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.
Solar PV Mounting System Market Segment Insights
Solar PV Mounting Product Insights
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.
Solar PV Mounting Technology Insights
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.
Solar PV Mounting System Application Insights
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
Solar PV Mounting System Regional Insights
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
Solar PV Mounting System Key Market Players & Competitive Insights
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.
Key Companies in the solar PV mounting system market include
- 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
- Antaisolar-Fujian Antai New Energy Tech. Co., Ltd.
Solar PV Mounting System Market Segmentation
Solar PV Mounting System Product Outlook
- Rooftop Mounted
- Ground Mounted
Solar PV Mounting System Technology Outlook
- Fixed
- Tracking
Solar PV Mounting System Application Outlook
- Residential
- Commercial
- Industrial
- Utility
Solar PV Mounting System Regional Outlook
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Sweden
- Denmark
- Luxembourg
- Norway
- Austria
- Rest of Europe
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