Solar PV Mounting Systems Market Growth Analysis With Investment Opportunities

The Business Research Company's Solar PV Mounting Systems Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

It will grow to $35.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.”— The Business Research Company

LANDON, GREATER LANDON, UK, July 10, 2024 -- The global solar PV mounting systems market is projected to grow from $24.83 billion in 2023 to $26.92 billion in 2024, at a CAGR of 8.4%. The market is anticipated to reach $35.58 billion by 2028, driven by increasing solar PV installations, grid integration, and environmental awareness.

The increasing demand for renewable energy is a key factor propelling the growth of the solar PV mounting systems market. With the rise in solar installations across residential, commercial, industrial, and utility sectors, robust mounting systems are essential for securely positioning solar panels to maximize sunlight capture and electricity generation efficiency. According to the Energy Information Administration (EIA), renewable generation surpassed coal and nuclear generation in 2022, highlighting the accelerating shift towards renewable sources.

Asia-Pacific emerged as the largest region in the solar PV mounting systems market in 2023 and is expected to maintain significant growth momentum. The region benefits from increasing solar adoption driven by government policies, urbanization, and energy demand.