Solar Panel Mounting Structures Market Share

European Market Forecast

By 2036, European region is projected to hold more than 46% solar panel mounting structures market share. This sector growth in the region is expected to be driven by the global shift towards renewable energy, as several nations, including Germany, Spain, and Italy, are establishing goals for solar power adoption. The market value for solar panel mounting structures is expected to be influenced as a result of the increasing number of solar power systems being built to satisfy the rising demand for clean and renewable energy.

According to a report, in the solar energy industry, 217.80 billion KWh of electricity is expected to be generated by 2024. The advancements in solar panel technology, along with the efficiency, longevity, and affordability of solar panels, result in simpler and more economical installation and upkeep of solar power systems. The market share for solar panel mounting structures is estimated to increase as a result of consumers' increasing decision to switch to solar electricity.

North American Market Statistics

The North American region will also encounter huge growth for the solar panel mounting structures market size expansion during the forecast period and will hold the second position owing to the need for renewable energy sources. People are looking for greener alternatives to traditional energy sources as they become more aware of how they affect the environment. The promotion of solar energy adoption has also been greatly aided by government regulations and incentives.

In addition, a lot of open space in the region is available for solar panel installations, including enormous rooftops and vacant land. Therefore, all these factors are contributing to the boost in the solar panel mounting structures market in the region.