Solar Mounting System Market

The global Solar Mounting System market was valued at USD 10.32 Billion in 2020 and is projected to reach USD 21.50 Billion by 2028, growing at a CAGR of 9.81% from 2021 to 2028.

Photovoltaic mounting systems (also called solar module racking) are used to fix solar panels on surfaces like roofs, building facades, or the ground.

The global Solar Mounting System market is segmented based on by Product, Application, regions, and countries. The regional segmentation provides current and forecast demand across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed on the basis of present and future trends. Rising demand for Solar Mounting System  in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market. Numerous companies are focusing on investing heavily in this application to cater the end user requirements effectively. The report provides comprehensive analysis of the market based on drivers, restraints, opportunities, trends, competition, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028. 

The COVID-19 pandemic is affecting industries worldwide and the global economy took hit in 2020 and likely in 2021 as well. The outbreak created disruptions in industries such as semiconductor, consumer electronics, travel, and automotive, among others. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The rising energy demand along with growing investment towards deployment of various renewable technologies is anticipated to augment the growth of the market over the forecast period.

The market will witness substantial demand on account of stringent regulations to curb the carbon emissions across various developed nations.

The high initial cost is expected to hamper the growth of the market in the years to come.

Product  Analysis: Preview

On the basis of Product, the market is segmented into Roof-Top,Ground Mounted. Roof-Top  held the leading share in 2020 and is anticipated to grow at a noteworthy CAGR over the forecast timespan. This is due to the increasing adoption of Roof-Top in emerging economies in Asia Pacific region.

Application Analysis: Preview

Based on Application, the market is segmented into Residential, Commercial, Utility,. Commercial accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

On the basis of region, the global Solar Mounting System market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe region held the largest share of the global Solar Mounting System market in 2020. Some of the major countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. US is one of the most profitable countries for companies operating in the market. 

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The market comprises of various small, medium, and large sized players spread across all the regions. Some of the key companies operating in the global Solar Mounting System market are Jiangsu Akcome Science & Technology, Versolsolar, Solar First, RBI Solar, Clenergy, Mounting Systems Inc., Suzhou Radiant Photovoltaic Technology, Schletter GmbH, Wind & Sun Ltd, Chiko Solar, K2 SYSTEMS, SnapNrack, Renusol GmbH, Changzhou Zixu Solar Power, SolarWorld, Xiamen Sunforson Power Co., Landpower Solar Technology, Quick Mount PV, Xiamen Grace Solar Technology, UNIRAC.. The report provides company market share analysis which gives a comprehensive overview of the key competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.