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 Size

Photovoltaic Mounting Systems Market size was over USD 28.95 million in 2024 and is set to cross USD 232.99 million by the end of 2037, growing at more than 17.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of photovoltaic mounting systems is estimated at USD 32.98 million. The primary reason behind the industry growth by the end of 2036 is the increasing demand for energy across the world. For instance, the International Energy Agency (IEA) develops yearly projections about possible energy requirements utilizing several varied cases. In its 2021 document, the IEA Stated Policies Scenario anticipates the total energy requirement to rise by 21% by 2040. International need for natural gas is projected to rise by 28% and international oil demand will rise by 17% by 2050.

Another reason that will directly increase the expansion of the photovoltaic mounting systems market in the forecast period is the increasing population across the world and their adoption of energy worldwide. Moreover, the international population is projected to increase from just under 8 billion in 2022 to more than 8.5 billion in 2030 and 9.7 billion in 2050. Accelerated energy requirements come from appearing markets and growing economies. The world would require twice as much energy as it generates recently if it weren’t for constant modifications in energy effectiveness. Further, several nations are approaching natural gas and PV panels for pocket-friendly and trustworthy electrical power production that generates lower secretions than coal. Various countries utilize various kinds of energy, so it’s tough to express who utilizes the most. Canada itself utilizes a varied energy mix comprising oil, natural gas, hydroelectricity, nuclear, and more.