Solar PV Mounting Systems Market Share

APAC Market Statistics

The Asia Pacific solar PV mounting systems market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037, backed by rising installation of solar panels in commercial and residential sectors, and favorable government initiatives regarding solar projects. For instance, solar photovoltaic energy capacity in India increased from almost 35,000 megawatts in 2019 to 39,000 megawatts in 2020. Furthermore, Australia alone is expected to account for a large market share in the entire APAC region owing to the huge availability of land creating an immense solar potential in the country. 

Europe Market Forecast

Further, the market in Europe region is estimated to have a significant growth, by the end of 2037. This growth can be attributed to the high usage of sustainable energy resources in the region. Additionally, the focus on updating the area's deteriorating electrical infrastructure as well as the encouragement of power generation from renewable energy sources by the local governments are credited with driving the market growth.