Solar Panel Mounting Structures Market size was USD 13.1 billion in 2024 and is anticipated to reach a valuation of USD 43.7 billion by the end of 2037, rising at a CAGR of 9.8% during the forecast period, i.e., 2025-2037. In 2025, the industry size of solar panel mounting structures is estimated at USD 14.1 billion.
The rising population and industrialization across the globe have significantly increased the demand for electricity and according to the reports, it is expected to double by 2050. To meet the rising energy demands and combat current climate issues, public and private sectors are steadily shifting towards renewable energy, including solar power, boosting the demand for mounting structures. According to a report published by the International Energy Agency (IEA), the renewable power capacity is expected to increase over the decade and China is set to account for more than 60% of all renewable capacity installed between 2024 and 2030. Several governments and organizations worldwide are setting goals and targets for carbon neutrality and renewable targets. This has resulted in growing need for efficiency mounting solutions.
Rapid urbanization, industrialization and government initiatives in developing economies of Asia Pacific, Africa, and Latin America have led to the growing adoption of solar energy and the rising investments in developing solar panel mounting structures and systems in both utility-scale and decentralized projects. For instance, according to the International Solar Alliance (ISA), in 2022, Asia Pacific accounted for 55% of total investments in solar energy development.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
9.8 % |
|
Base Year Market Size (2024) |
USD 13.1 billion |
|
Forecast Year Market Size (2037) |
USD 43.7 billion |
|
Regional Scope |
|
Product Type (Roof Mounted Structure, Ground Mounted Structure, Top-of-pole Mounted Structure, Side-of-Pole Mounted Structure, Tracking System Mounted Structure)
Based on product type, the roof mounted structure segment is anticipated to capture over 55.1% solar panel mounting structures market share by 2037. This growth can be attributed to the increasing adoption of solar energy across the globe, the growing deployment of rooftop solutions in residential and commercial buildings due to limited ground space availability in urban areas, and high preference for rooftop structures to offset overall energy costs. Several public and private organizations are promoting the use of rooftop solar solutions. For instance, in June 2024, Tata Power Solar Limited launched the Pan India Campaign- GharGharSolar, Tata Power ke Sangh in order to support the adoption of residential rooftop solar solutions. Through this campaign, the company aimed to foster a sustainable future with the widespread adoption of solar energy.
End use Residential, Commercial, Industrial, Utility)
Based on end use, the utility segment in solar panel mounting structures market is likely to register a robust CAGR between 2025 and 2037 due to the rapidly expanding utility sector, which caters to rising consumption of electricity, power, and water, and the increasing adoption of solar panel mounting solutions to cover vast utility-scale solar farms. Large-scale utility farms reduce the per unit of energy produced due to bulk purchase of materials and streamlined operations. Other factors such as government subsidies and tax redemptions for large scale projects and increasing partnerships between large corporations and utility solar providers to reach decarbonization goals are expected to support segment growth during the forecast period.
For instance, in September 2024, Silfab announced the launch of 640 W utility-scale solar panels with a temperature coefficient of -0.29% per C and a 30-year power outage assurance for 89.3% of the initial yield.
Our in-depth analysis of the global solar panel mounting structures market includes the following segments:
|
Product Type |
|
|
Material |
|
|
Thickness |
|
|
End use |
|
Asia Pacific Market Statistics
The Asia Pacific solar panel mounting structures market is expected to account for the largest revenue share during the forecast period owing to rapid urbanization and industrialization in the region, rising demand for renewable energy, and presence of leading manufacturers. Key countries such as China, Japan, South Korea, India, and Australia are introducing a range of incentives such as subsidies and tax incentives to stimulate solar energy investments, boosting demand for mounting structures.
In India, the government is supporting the adoption of solar panel mounting solutions by providing several subsidies and initiatives such as Solar Investment Tax Credits (ITC), Feed-in Tariffs (FiTs), grants, and rebates. For instance, India’s National Solar Mission aims for 280 GW of installed solar capacity by 2030 with a focus on rooftops and utility-scale solar projects.
China is one of the world’s largest producers of solar panels and solar infrastructure, including mounting systems. In addition, the presence of a vast industrial base, rising number of large-scale ground-mounted solar farms across the country, and increasing investments in developing advanced solar mounting infrastructure solutions are expected to boost the market growth in China going ahead.
North America Market
The North America solar panel mounting structures market is projected to register rapid revenue growth between 2025 and 2037 owing to the rapid adoption of advanced technologies, rising solar installations across the region, and corporate initiatives to meet sustainability and carbon neutrality goals. In addition, the rising number of utility-scale solar farms in the U.S. and Canada, technological improvements in grid interconnectivity, and favorable government support are expected to boost the market in North America.
The U.S. is one of the leading solar panel mounting structures markets in North America driven by technological advancements in mounting systems, government initiatives, and policies to support clean energy adoption and rising adoption of solar solutions in large corporations, institutions, and residential sectors. For instance, according to a report by the International Energy Agency published in 2022, the number of households that may rely on solar PV is expected to reach 100 million by 2030.
The Canada solar panel mounting structures market is expected to register rapid revenue growth during the forecast period owing to presence of favorable policies such as federal and provincial incentives supporting solar energy adoption, and rising demand for solar panel mounting structures across residential, industrial, and commercial settings.
The global solar panel mounting structures market is highly competitive, comprising key players operating at regional and global levels. Schetter Group, Mahindra Susten, Mounting Systems GmbH, and SolarEdge Technologies are some leading players focused on innovation, cost optimization, and market expansion. Several mounting system manufacturers are partnering with solar panel producers to develop advanced, comprehensive solutions for consumers. The key players in the market are also adopting several strategic alliances such as mergers and acquisitions, partnerships, collaborations, joint ventures, and license agreements. Here are some key players operating in the global solar panel mounting structures market:
Author Credits: Dhruv Bhatia
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?