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Key Strategic Developments and Emerging Changes Shaping the Solar PV Mounting Systems Market Landscape
Solar PV Mounting Systems
Projected Market Growth and Size of the Solar PV Mounting Systems Market
The solar PV mounting systems market is projected to expand significantly, reaching a value of $36.61 billion by 2029. This growth reflects a compound annual growth rate (CAGR) of 6.3%, highlighting the increasing demand for efficient mounting solutions. Factors contributing to this expansion include the adoption of smart and integrated systems, challenges related to urbanization and limited land availability, supportive government policies and incentives, the rise of decentralized power generation, and intensified efforts toward combating climate change. Key trends expected to influence the market during this timeframe involve the use of artificial intelligence and automation, digital twin technologies, modular and scalable mount designs, lightweight and flexible materials, as well as the development of advanced tracking systems.
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Leading Companies Driving Innovation in the Solar PV Mounting Systems Market
Several prominent companies are playing a significant role in shaping the solar PV mounting systems industry. These include Jinko Solar Solutions Pvt. Ltd., Tata Solar International Ltd., Gonvarri Solar Industries, First Solar Energy Inc., SunPower Solar Corporation, Array Technologies Solutions Inc., NextGen Tracker Inc., Valmont Solar Industries Inc., Schletter Solar Solutions Group, and Unirac Solar Mounting Inc. Other key players include Clenergy Technology Co. Ltd., PV Hardware Solutions SLU, GameChange Solar Services India Pvt. Ltd., Mounting Solutions GmbH, AeroCompact Solar GmbH, RBI Solar Solutions Inc., K2 Solar Systems GmbH, Ideematec Solar AG, Soltec Power Holdings SA, Esdec Solar Technologies BV, Arctech Solar Solutions Pvt. Ltd., SolarWorld Mounting AG, Landpower Solar Technology Co. Ltd., Xiamen Grace Solar Technology Co. Ltd., and Versolsar Solar Hangzhou Ltd.
Strategic Acquisition Enhancing Market Presence
In July 2023, Technology Services Group (TSG), a US-based firm, acquired JCM Solar for an undisclosed sum. This acquisition aims to bolster TSG's position in the solar energy sector, particularly within France, by offering comprehensive integrated solar energy solutions. Additionally, it strengthens TSG's leadership in promoting responsible mobility across Europe and Africa. JCM Solar, headquartered in France, specializes in designing and installing solar panel systems, including solar PV mounting solutions for photovoltaic power plant projects.
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Recent Innovations and Key Trends in the Solar PV Mounting Systems Industry
Industry leaders are focusing on developing technologically advanced products to enhance solar system efficiency. One notable innovation is the fixed-tilt racking system, designed to mount solar panels at a set tilt angle to optimize energy capture. For example, in November 2022, US-based manufacturer GameChange Solar introduced MaxDensity, a fixed-tilt racking system engineered to maximize module density with a high ground coverage ratio of up to 98%. This system supports all commercially available framed solar modules and can be installed in large blocks up to 7 MW. Its design incorporates features such as effective module support, ease of installation, cost-efficiency, and resilience against wind and snow loads, while allowing for scalability.
Overview of the Solar PV Mounting Systems Market Segmentation
The market for solar PV mounting systems is categorized into several key segments:
1) Product Type: Rooftop Mounted and Ground Mounted systems
2) Components: PV Modules, Inverters, Racking, Batteries, and Other Components
3) Technology: Fixed systems and Tracking systems
4) Application Areas: Residential, Commercial, Industrial, and Utility-scale projects
Further segmentation details include:
- For Rooftop Mounted systems: Fixed Rooftop Mounting Systems, Adjustable Rooftop Mounting Systems, and Ballasted Rooftop Mounting Systems
- For Ground Mounted systems: Fixed Tilt Ground Mounting Systems, Single Axis Tracking Ground Mounting Systems, and Dual Axis Tracking Ground Mounting Systems
This detailed categorization helps stakeholders understand the diverse offerings and tailor solutions that meet specific installation needs across various segments of the solar power market.
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