Photovoltaic Mounting Systems Market Size & Share, by Type (Rooftop, and Ground Mounted); Technology (Fixed, and Tracking); Components (PV Modules {Panels}, Inverters, Racking, Batteries); End-User (Residential, Commercial, Industrial, Utility) - Glo Market Analysis

End-User (Residential, Commercial, Industrial, Utility)

The utility segment is expected to hold 59% share of global photovoltaic mounting systems market by 2037. This growth will be noticed because of the low cost of PV panels across the world, in line with the International Energy Agency’s World Energy Outlook 2020. The 464-page prospect, released by the IEA, also describes the “extraordinarily wild” influence of coronavirus and the “highly doubtful” future of international energy utilization over the next two decades. Showcasing this doubtfulness, this year’s interpretation of the highly impactful yearly outlook presents four “pathways” to 2040, all of which notice a major increase in sustainable resources. The IEA’s primary case has 43% more solar output by 2040 than it projected in 2018, moderately because of a thorough new assessment demonstrating that solar power is 20-50% cheaper than expected. Although a quicker increase for sustainable sources and a “structural” drop for coal, the IEA expresses it is too soon to release a peak in international oil utilization, unless there is more powerful climate action. Likewise, it expresses the requirements for gas could increase by 30% by 2040 except for the policy response to global warming steps up.

Components (PV Modules {Panels}, Inverters, Racking, Batteries)

The PV modules {panels} segment in the photovoltaic mounting systems market is projected to account for 71% of revenue share owing to its increasing use to generate solar energy across the world. The power rating of solar panels is in “Watts” or “Wattage,” which is the unit utilized to calculate power generation. Nowadays, the latest and best solar panels for residential properties generate between 250 and 400 Watts of electricity. While solar panel systems begin at 1 KW and generate between 750 and 850 Kilowatt hours (KwH) yearly, bigger homes and larger households usually need to be on the higher end. A four-to-five-person household possibly requires a four-to-five KW systems.

Our in-depth analysis of the global photovoltaic mounting systems market includes the following segments: