North America Ground Mounted Solar PV Mounting Systems Market Size - By Technology (Fixed, Tracking), By Application (Residential, Commercial & Industrial, Utility), Country Outlook & Forecast, 2024 – 2032

North America Ground Mounted Solar PV Mounting Systems Market Size

North America Ground Mounted Solar PV Mounting Systems Market was valued at USD 3.5 billion in 2023 and is anticipated to grow at a CAGR of 5.6% from 2024 to 2032. Ground-mounted solar PV mounting systems are structures used to securely install solar panels on the ground, typically in open areas including fields, vacant land, or commercial properties. These mounting systems provide a stable foundation for solar panels, allowing them to be angled optimally to capture sunlight for electricity generation. It can vary in design and configuration but generally consist of support structures, such as metal or concrete foundations, racks, and frames, which hold the solar panels in place.

Growing demand for clean and renewable energy sources coupled with declining costs of solar technology will sway the business statistics. Upsurge in advancement of solar technology, manufacturing processes aligned with increasing government incentives, subsidies, and favorable regulatory frameworks will foster the industry dynamics.

North America Ground Mounted Solar PV Mounting Systems Market Trends

Rising installation of solar PV for electricity generation coupled with escalating investments in clean energy infrastructure to build a resilient and sustainable economy will drive the business scenario. Moreover, gaining momentum of decentralized and resilient energy solution in line with expansion of utility scale solar projects will enhance the product demand.

Based on technology, the tracking segment is projected to surpass USD 3 billion by 2032 owing to their ability to offer improved energy yield, cost effectiveness, and reliability will stimulate the industry landscape. Additionally, modular, and scalable designs along with technological advancements to enhance the efficiency and accuracy of the system will proliferate the product penetration.

Based on end-use, the utility ground mounted solar PV mounting systems market is set to grow at CAGR of more than 5% through 2032. Capability to provide a stable foundation for solar panels and maximizing energy production in conjunction with growing awareness of the environmental and economic benefits of renewable energy sources including solar power will complement the industry scenario. Furthermore, rising investments in grid modernization and resilience initiatives to improve the reliability and stability of the electric grid will drive the business growth.

U. S. ground mounted solar PV mounting systems market is estimated to reach USD 5 billion by 2032. Increasing interest in community solar initiatives, driven by environmental awareness, energy cost savings, and equitable access to renewable energy along with growing research and development initiatives to improve performance will stimulate the product adoption. Projects contributing to the transition to a clean energy future by reducing greenhouse gas emissions, diversifying the energy mix, and promoting energy independence will augment the business landscape.