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 Share

APAC Market Analysis

The photovoltaic mounting systems market in the APAC region will dominate the most and will have the highest revenue share of around 45% by the end of 2037. This growth will be noticed due to increasing solar electricity generation in this region. For instance, China's installed solar potential will double to 1,000 gigawatts (GW) by the end of 2026 as the globe's second-biggest economy grows to build up investment in sustainable sources, energy research company Rystad Energy composed in a note. Beijing had set an objective of raising the country's installed potential of wind and solar power to over 1,200 GW by 2030.

European Market Statistics

The photovoltaic mounting systems market in the Europe region will increase the most by the end of 2037. This growth will be noticed because of the increasing initiation of the European government. In early December 2023, the EU declared they had developed the European Solar PV Industry Alliance. The alliance will help EU nations create a strong connection between European producers and consumers of solar panels. Germany is the European nation that added the most volume of solar power in 2022 and is also home to Wacker Chemicals, one of the world’s biggest polysilicon manufacturers and one of the critical components of solar panels. Other European Nations, including Spain, Poland, and the Netherlands, have also had substantial amounts of solar installed. Comprehensive the EU projects the solar industry could raise the European GDP by €60 billion yearly and develop 400,000 new jobs.