Ground Mounted Solar Market

The ground-mounted solar market is driven by the demand for renewable energy and the falling cost of solar panels worldwide. According to predictions, this market is poised for remarkable growth in the future due to heightened concerns about global warming and increased adoption of green energy policies across nations.

Another trend observed in recent years has been that of utility-scale solar projects, which are large installations typically located near towns or regions. Often, these projects are developed by independent power producers (IPPs) who have support from long-term power purchase agreements (PPAs).

The Global Ground Mounted Solar Market Industry is experiencing a surge in demand for renewable energy sources, driven by global initiatives to reduce carbon emissions and combat climate change. Governments worldwide are implementing policies that promote solar energy adoption, leading to an increased deployment of ground-mounted solar systems. For instance, in 2024, the market is valued at approximately 32.1 USD Billion, reflecting a growing recognition of solar energy's potential. This trend is expected to continue, as countries aim to meet their renewable energy targets, thereby enhancing the market's growth trajectory.

The regional segmentation of the Ground Mounted Solar Market offers insights into the market's geographical distribution and growth patterns. North America is expected to hold a significant market share, driven by increasing demand for renewable energy and favorable government policies. 

Europe is another key region, with a growing focus on reducing carbon emissions and transitioning to sustainable energy sources. The APAC region is anticipated to witness substantial growth owing to rising energy consumption and government initiatives promoting solar energy adoption. South America and MEA are expected to contribute to the overall market growth, benefiting from increasing awareness about the advantages of ground-mounted solar systems and supportive government regulations.

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

Major players in the Ground Mounted Solar Market are constantly striving to stay ahead of the competition by investing in research and development, expanding their product offerings, and forming strategic partnerships. Leading ground-mounted solar market players are focusing on developing innovative technologies to improve the efficiency and performance of their products. They are also expanding their global presence by establishing new manufacturing facilities and distribution channels. 

The Ground Mounted Solar Market is highly competitive, with a number of major players vying for market share. Some of the key players in the market include First Solar, JinkoSolar, LONGi Solar, Trina Solar, and Canadian Solar. These companies are investing heavily in research and development to improve the efficiency of their solar panels and reduce costs. They are also expanding their global reach by establishing new manufacturing facilities and distribution channels. 

The competitive landscape of the Ground Mounted Solar Market is expected to remain intense in the coming years, with new entrants and established players continuing to compete for market share.NextEra Energy, one of the largest utilities in the United States, has announced plans to build a portfolio of ground-mounted solar projects totaling 4 gigawatts (GW) by 2024. This portfolio will include projects in California, Florida, Georgia, Illinois, Ohio, Pennsylvania, Texas, and Virginia. NextEra Energy is also developing a 2 GW solar project in Australia. 

SunPower, a leading solar technology company, has announced plans to build a 1.6 GW solar project in Texas. This project will be one of the largest solar projects in the United States. SunPower is also developing a 1 GW solar project in Chile. These are just a few examples of the major investments that are being made in the ground-mounted solar market. As the cost of solar continues to decline, we can expect to see even more investment in this market in the coming years.

Canadian Solar, a leading solar module manufacturer, has announced plans to invest $200 million in a new manufacturing facility in China. This facility will produce solar modules for the ground-mounted solar market. Canadian Solar is also expanding its presence in the United States, with plans to build a new manufacturing facility in Texas. These investments will help Canadian Solar to increase its market share in the ground-mounted solar market.