| REPORT ATTRIBUTE |
DETAILS |
| Historical Period |
2020-2023 |
| Base Year |
2024 |
| Forecast Period |
2025-2032 |
| Solar Panel Mounting Structures Market Size 2024 |
USD 15,050 million |
| Solar Panel Mounting Structures Market, CAGR |
11.4% |
| Solar Panel Mounting Structures Market Size 2032 |
USD 35,695.87 million |
Market Overview
The Solar Panel Mounting Structures Market is projected to grow from USD 15,050 million in 2024 to an estimated USD 35,695.87 million by 2032, with a compound annual growth rate (CAGR) of 11.4% from 2024 to 2032.
Key drivers of the solar panel mounting structures market include the increasing demand for renewable energy sources, particularly solar power, as governments and businesses seek to reduce their carbon footprints and transition to cleaner energy solutions. The rapid adoption of solar energy technologies, driven by cost reductions in solar panels and improved energy efficiency, is significantly boosting the demand for efficient and durable mounting systems. Additionally, the growing number of large-scale solar projects, both residential and commercial, is contributing to the market’s expansion. Technological advancements in solar mounting systems, such as improved materials, ease of installation, and the development of innovative designs that enhance the efficiency of solar panels, are further accelerating market growth. The integration of automated tracking systems that increase the energy output of solar installations and the rise of bifacial solar panels are also fueling demand for advanced mounting structures.
Regionally, North America and Europe are major contributors to the growth of the solar panel mounting structures market, driven by government incentives, subsidies, and stringent renewable energy targets. The United States and European Union countries are increasingly investing in solar infrastructure, with solar energy being a key component of their energy transition plans. In the Asia Pacific region, countries like China, India, and Japan are witnessing rapid adoption of solar power, driven by strong government policies supporting renewable energy development and substantial investments in solar energy infrastructure. Additionally, the growing installation of rooftop solar systems in residential and commercial sectors in emerging markets such as Latin America, the Middle East, and Africa is contributing to the global expansion of the market.
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Market Insights
- The Solar Panel Mounting Structures market is expected to grow from USD 15,050 million in 2024 to USD 35,695.87 million by 2032, with a CAGR of 11.4% from 2024 to 2032.
- Increased demand for renewable energy, government incentives for solar adoption, and decreasing costs of solar panels are driving the need for efficient and durable solar mounting systems.
- Innovations in mounting structure designs, automated tracking systems, and bifacial solar panels are enhancing installation efficiency and energy output, contributing to market growth.
- The rise in both residential rooftop installations and large-scale commercial solar projects is a significant contributor to the growing demand for mounting structures.
- High initial installation costs and potential challenges in logistics and installation for large-scale solar farms can limit market expansion in certain regions.
- North America and Europe lead the market, driven by strong government policies supporting renewable energy and stringent emission reduction targets.
- Asia Pacific, particularly China, India, and Japan, is witnessing rapid adoption of solar power, along with growing investments in solar infrastructure in Latin America, the Middle East, and Africa.
Market Drivers
Government Policies and Incentives
Government policies and incentives are crucial drivers for the growth of the solar panel mounting structures market. Over the last decade, many countries have introduced or enhanced subsidies, tax credits, and financial incentives to encourage the adoption of solar energy. These initiatives are particularly influential in North America, Europe, and parts of Asia, where solar power is increasingly seen as a core component of long-term energy strategies. For instance, the Department of Energy (DOE) has implemented the “Solar Energy Technologies Office,” which has invested over $100 million annually since 2018 to advance solar technologies, including the development of more cost-effective and efficient mounting structures. In Europe, the European Commission has made significant strides with its “European Green Deal,” which aims to make Europe the first climate-neutral continent by 2050.
Technological Advancements in Solar Mounting Systems
Technological innovations in solar mounting structures are enhancing the overall efficiency, durability, and ease of installation of solar systems. These advancements are expected to play a critical role in meeting the growing demand for solar energy globally. Over the past few years, manufacturers have developed advanced materials such as aluminum and stainless steel that are lightweight, corrosion-resistant, and able to withstand extreme weather conditions, ensuring the longevity of solar power systems. For instance, National Renewable Energy Laboratory (NREL) in the United States has been actively researching and developing new mounting technologies. According to NREL, the implementation of solar tracking systems—which adjust the position of solar panels to follow the sun’s movement—has been shown to increase solar energy generation by up to 25% in certain installations.
Rising Demand for Renewable Energy
The global transition to renewable energy is one of the most significant drivers for the solar panel mounting structures market. As climate change concerns grow and environmental regulations tighten, countries around the world are accelerating their adoption of clean energy sources, with solar power being at the forefront. Specifically, solar power investments alone reached an all-time high of $160 billion globally in 2020, according to the International Energy Agency (IEA). This surge in investment highlights the increasing shift away from fossil fuels toward renewable energy solutions, where solar energy plays a pivotal role. Countries such as India, China, and Brazil have made ambitious renewable energy targets, further driving the installation of solar energy systems. For instance, the Indian government has set a target of 100 GW of solar capacity by 2022 and has recently extended that target to 500 GW by 2030 as part of its broader renewable energy goals.
Cost Reductions and Economic Viability of Solar Energy
The continued decline in the cost of solar panels and mounting structures is another critical factor driving the market. The cost of photovoltaic (PV) solar systems has decreased significantly in recent years, making solar energy a viable option for both large-scale and residential projects. According to the International Monetary Fund (IMF), the cost of solar electricity has dropped by over 80% in the past decade due to improved manufacturing processes and economies of scale. This drop in cost has made solar energy more economically competitive with traditional energy sources. For instance, China’s National Energy Administration (NEA) reports that the cost of solar energy generation in China has decreased by 70% between 2010 and 2020. As solar becomes more affordable, more individuals and businesses are investing in solar panel installations, which in turn is increasing demand for mounting structures.
Market Trends
Increase in Large-Scale Solar Projects
The trend towards large-scale solar installations is driving the demand for solar panel mounting structures. Countries with aggressive renewable energy targets, like India and China, are investing heavily in large solar parks. According to the Ministry of New and Renewable Energy (MNRE) in India, the country aims to achieve 500 GW of non-fossil fuel energy capacity by 2030, a large portion of which will be solar. As these mega projects grow, the need for durable, scalable, and cost-effective mounting solutions becomes more critical. For Instance, the Chinese National Energy Administration (NEA) announced a plan to construct over 100 GW of solar power capacity by 2030, with a large part of this expected to come from ground-mounted solar farms. These projects require innovative mounting solutions that can handle large-scale installations while maintaining cost-efficiency and structural integrity.
Adoption of Solar Tracking Systems
An emerging trend in the solar panel mounting structures market is the adoption of solar tracking systems, which enable solar panels to follow the sun’s trajectory throughout the day, maximizing energy production. The DOE allocated over $50 million in 2020 to support solar innovations, including tracking systems and other advancements aimed at improving solar efficiency. Solar tracking systems are gaining popularity in regions with abundant sunlight and high solar irradiation, such as the Middle East and North Africa (MENA). According to a 2020 report by the Arab Renewable Energy Commission (AREC), more than 2 GW of solar power in the MENA region is now generated through solar tracking technologies. As solar panels become more efficient, the demand for tracking systems and the associated mounting structures is likely to grow.
Rise of Bifacial Solar Panels
The rise of bifacial solar panels, which can capture sunlight from both the front and rear sides, is another notable trend influencing the solar panel mounting structures market. According to the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL), bifacial panels are projected to account for up to 40% of global solar installations by 2025. Bifacial panels require specialized mounting systems that optimize panel angles and allow for increased energy capture from reflected light on the backside. Countries like Brazil and Mexico have been quick to adopt bifacial solar technology, particularly in regions with high albedo (reflectivity) from snow or sand. For example, Brazil’s Ministry of Mines and Energy (MME) has reported that nearly 1 GW of solar capacity in the country is now generated using bifacial panels, creating a direct demand for specialized mounting solutions that accommodate these technologies.
Government Commitments to Solar Energy
Government initiatives supporting solar energy are accelerating the adoption of solar mounting structures. A significant portion of this strategy focuses on expanding renewable energy infrastructure, including solar projects. For Instance, the European Commission, solar energy investments in the EU reached €50 billion in 2020, a major portion of which is directed toward large-scale solar installations and associated infrastructure such as mounting systems. In the United States, the Biden Administration has committed to investing $100 billion over the next 10 years to accelerate solar power development as part of its broader climate change agenda. This includes funding for solar panel and mounting structure innovations. These government-backed initiatives are expected to significantly drive the growth of the solar panel mounting structures market in the coming years.
Market Challenges Analysis
High Initial Installation Costs
One of the primary challenges facing the solar panel mounting structures market is the high initial cost of installation. While the cost of solar panels has decreased significantly in recent years, the cost of mounting systems, particularly for large-scale projects, remains relatively high. For instance, in large utility-scale solar installations, the cost of mounting structures can account for a significant portion of the total project expenditure. For instance, the U.S. Department of Energy (DOE), mounting systems can represent up to 10-15% of the total cost of a solar installation in utility-scale projects. This can be a barrier to entry, especially in developing economies where budget constraints are more pronounced. Although the cost of mounting systems is expected to decline over time with advancements in materials and manufacturing processes, the high upfront costs can slow down the adoption of solar energy, particularly in emerging markets. Additionally, the variability in costs associated with mounting systems, depending on the complexity of the installation and the choice of materials, poses a challenge. The need for customized solutions to suit different geographical conditions, roof types, and panel configurations can further increase costs. Regions with harsh weather conditions, such as high winds or snow, require more robust and expensive mounting structures to ensure long-term durability. As a result, despite the growing demand for solar energy, the cost of mounting systems can limit widespread adoption, particularly in price-sensitive regions or small-scale residential projects.
Supply Chain and Logistical Challenges
The global supply chain for solar panel mounting structures faces significant challenges that can hinder market growth. The sourcing of raw materials, such as steel, aluminum, and specialized fasteners, can be disrupted by geopolitical tensions, trade barriers, or shortages, leading to delays and price volatility. the International Trade Administration (ITA) reported supply chain disruptions for aluminum and steel, key materials for solar mounting systems, due to the COVID-19 pandemic and trade policy shifts. These disruptions have led to increased prices for mounting structures and delays in installation timelines, affecting both manufacturers and end-users. Furthermore, logistical challenges in the transportation of large and heavy mounting components to remote or difficult-to-reach locations can add to installation costs and timeframes. In regions like Africa or remote areas of Asia, where solar infrastructure is being rapidly deployed, these logistical hurdles can significantly impact project timelines. According to the World Bank, transportation costs for solar equipment in developing regions can be up to 20% higher than in well-connected areas, which exacerbates the financial burden on developers. These supply chain and logistical challenges need to be addressed through better infrastructure and improved global sourcing strategies to ensure smoother and more cost-effective installations.
Market Opportunities
One of the key opportunities for growth in the solar panel mounting structures market lies in the expanding adoption of solar energy in both residential and commercial sectors. As energy costs rise and the global push toward sustainability intensifies, an increasing number of homeowners and businesses are turning to solar power to reduce their energy bills and carbon footprints. In particular, the residential sector, supported by government incentives such as tax credits and rebates, is witnessing a significant surge in rooftop solar installations. These growing installations require more advanced and reliable mounting systems, creating substantial demand for mounting structures that can support various roof types and panel configurations. Furthermore, the commercial and industrial segments, particularly in regions like North America and Europe, are investing heavily in large-scale rooftop and ground-mounted solar systems, boosting the need for durable, cost-effective mounting solutions designed for optimal energy output.
Another major opportunity exists in emerging markets, especially in Asia Pacific, Latin America, and parts of the Middle East and Africa, where solar energy adoption is rapidly gaining momentum. Government initiatives, such as renewable energy targets and solar subsidies, are encouraging the installation of solar systems at scale, thereby driving demand for mounting structures. In regions like India, China, and Brazil, where solar energy is seen as a key component of national energy strategies, the need for innovative mounting systems capable of supporting large-scale solar farms is particularly pronounced. As these markets continue to expand their renewable energy infrastructure, there is a growing need for cost-effective, adaptable, and efficient solar mounting solutions that cater to diverse environmental conditions. This presents a significant opportunity for manufacturers to offer specialized solutions that meet the evolving demands of these high-growth regions.
Market Segmentation Analysis
By Product Type
The Solar Panel Mounting Structures market is segmented into fixed, adjustable, and tracking systems. Fixed mounting structures dominate the market due to their simplicity, cost-effectiveness, and suitability for residential and commercial applications. Adjustable systems offer flexibility in tilt angles to optimize energy capture, making them popular in regions with variable sunlight. Tracking systems, which follow the sun’s movement, provide the highest efficiency but at a higher cost, making them more suitable for large-scale commercial and utility projects.
By Material
The market is segmented by materials used, including aluminum, steel, and others (such as galvanized iron or composites). Aluminum structures are lightweight, corrosion-resistant, and ideal for residential and commercial installations. Steel structures are heavier and stronger, making them suitable for larger, more durable installations, particularly in large-scale solar farms. Other materials, including composites and galvanized iron, are less common but are utilized in specific regions or applications where cost or environmental factors drive material choices.
By Thickness
The market is further segmented by the thickness of the mounting structures. Thin-profile mounting structures are often used in residential and smaller commercial projects where aesthetics and ease of installation are important. Thicker profiles are used for larger, utility-scale projects requiring greater strength and stability to support larger panels in harsh environments. The choice of thickness depends on the structural load requirements and the specific installation environment.
Segmentations
By Product Type:
- Roof Mounted Structure
- Railed mounting
- Rail-less mounting
- Others
- Ground Mounted Structure
- Foundation mount
- Ballasted footing mount
- Others
- Top-of-pole Mounted Structure
- Side-of-pole Mounted Structure
- Tracking System Mounted Structure
By Material:
- High Speed Steel
- Cold Formed Steel
- Aluminum
- Galvanized Iron
- Others
By Thickness:
- 0.5 to 2 mm
- 2 to 3 mm
- 3 to 6 mm
Based on Region:
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
Regional Analysis
North America
North America is one of the leading regions in the solar panel mounting structures market, with the United States dominating the market share in the region. The U.S. is projected to account for over 40% of the market share in North America, driven by strong government policies supporting renewable energy adoption and substantial investments in solar infrastructure. Initiatives such as the Investment Tax Credit (ITC) and various state-level incentives are driving the installation of solar panels, thus increasing demand for mounting structures. For instance, the U.S. Department of Energy (DOE) has allocated over $100 million annually for the past several years to support solar research and the development of cost-effective mounting solutions. Furthermore, the increasing number of residential and commercial rooftop installations, along with large-scale solar farms, is accelerating the demand for mounting structures.
Europe
Europe holds a significant share of the global solar panel mounting structures market, with countries such as Germany, Spain, France, and Italy being the primary drivers of demand. The region collectively accounts for 30% of the global market share. The European Union’s Renewable Energy Directive, which mandates that 32% of Europe’s energy comes from renewable sources by 2030, has significantly boosted solar energy investments. As part of the European Green Deal, the EU has committed to becoming the first climate-neutral continent by 2050, further accelerating the growth of solar energy and mounting structures. Germany remains the largest market in Europe, driven by its ambitious renewable energy goals and a favorable regulatory environment. The German Solar Industry Association (BSW-Solar) reports that the country is aiming to expand its solar capacity to 100 GW by 2030, further boosting the demand for reliable and durable mounting systems. Additionally, countries like Spain and Italy, with abundant solar resources, are also contributing to the regional growth. The increasing adoption of bifacial solar panels, which require specialized mounting structures, and the rise of solar tracking technologies are also key trends in the European market.
Asia Pacific
Asia Pacific is the fastest-growing region in the solar panel mounting structures market, with countries like China, India, Japan, and Australia being key contributors to its expansion. The region holds a market share of 25%, and its share is expected to grow further due to the massive investments in solar energy infrastructure in these countries. China, the global leader in solar energy production and installation, is driving the demand for solar mounting structures. The National Energy Administration of China reported that the country added 48 GW of solar capacity in 2020, contributing significantly to the global solar market’s growth. India is also a major market in the Asia Pacific region, with the government aiming to install 500 GW of non-fossil fuel capacity by 2030, a substantial portion of which will come from solar energy. The Ministry of New and Renewable Energy (MNRE) in India has set ambitious goals for solar capacity expansion, which directly impacts the demand for mounting structures. With over 35 GW of solar power capacity installed by 2022, India is poised to continue increasing its solar capacity, driving the need for scalable, cost-effective mounting solutions. Japan, with its focus on renewable energy post-Fukushima, has also become a strong player in the Asia Pacific solar market. The country is focusing on solar farms and rooftop installations, with mounting structure demand growing as a result. Australia, with its abundant solar resources, continues to see strong growth in residential solar installations, further fueling the market for mounting structures.
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Key Player Analysis
- Xiamen Fasten Solar Technology Co.,Ltd
- Professional Solar Products
- Ratan engineering Company
- Hollaender Mfg. Co.
- Mahindra Susten
- Kern Solar Structures
- Schletter Inc.
- Esso Fab Tech Pvt Ltd
- Mounting Solar-Kit Private Limited
- Satec Envir Engineering Pvt. Ltd.
- PROINSO
- Nespro Renewable Energy Solutions
Competitive Analysis
The competitive landscape of the solar panel mounting structures market is characterized by a mix of established players and emerging companies, all vying for market share through technological innovation, cost leadership, and strategic partnerships. Key market leaders such as Schletter Group, Trina Solar, SolarFlexion, and Nextracker dominate the industry, offering a wide range of mounting solutions for both residential and commercial applications. These companies are investing heavily in research and development to produce more efficient, durable, and cost-effective mounting structures. For instance, Nextracker, a leading provider of solar tracking systems, has introduced advanced solar mounting structures that increase energy output by dynamically adjusting panel angles throughout the day. Additionally, companies are incorporating innovations such as bifacial mounting solutions that improve energy capture and tracking systems that optimize the efficiency of solar power generation. In addition to technological innovation, strategic alliances and collaborations play a key role in the market dynamics.
Recent Developments
- In September 2024, Solar Mounting Ltd launched a new solar carport at the prestigious Solar and Storage Live Show at NEC Birmingham, held from 24th to 26th September 2024. The product offers an efficient and eco-friendly solution for generating solar power while providing a modern shelter for vehicles.
- In July 2023, APL Apollo partnered with Ornate Solar to design, build, and manufacture innovative solar mounting solutions for the Indian market.
- In May 2023, Mibet Energy introduced a new solar mounting structure specifically designed for solar projects installed on balconies. This product is pre-bolted and fixed, eliminating the need for welding or drilling during installation.
Market Concentration & Characteristics
The solar panel mounting structures market exhibits moderate to high concentration, with a few dominant players controlling a significant share of the global market. Leading companies like Schletter Group, Nextracker, Trina Solar, and First Solar hold substantial market positions due to their extensive product portfolios, technological innovations, and established distribution networks. These companies have the resources to invest heavily in research and development, enabling them to stay ahead in terms of offering advanced mounting solutions, such as solar tracking systems, bifacial panel mounts, and customizable mounting structures for different geographical and environmental conditions. Despite the dominance of these major players, the market remains competitive due to the presence of regional players, particularly in emerging markets like China and India, where cost-efficient solutions are critical. The characteristics of the market reflect a blend of innovation and price sensitivity. On the one hand, large-scale solar energy projects, especially in North America, Europe, and Asia, are driving demand for more advanced and efficient mounting solutions, such as tracking systems and bifacial panels. On the other hand, price competition in developing markets, where cost-effectiveness is paramount, forces companies to balance technological advancements with competitive pricing strategies. As a result, the market is characterized by continuous innovation, strategic partnerships, and a strong focus on reducing manufacturing costs. Furthermore, the trend toward consolidation is apparent as larger firms acquire regional players or form joint ventures to expand their market reach, ensuring access to new geographic markets and customer segments.
Report Coverage
The research report offers an in-depth analysis based on product type, material, thickness, region. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.
Future Outlook
- The demand for solar panel mounting structures will continue to grow as governments globally focus on renewable energy targets and sustainability goals.
- Large-scale solar installations will dominate the market, with countries like India and China leading the way in developing solar parks and large projects.
- Solar tracking systems will become more prevalent as they significantly enhance energy efficiency by allowing solar panels to follow the sun’s path throughout the day.
- The adoption of bifacial solar panels will rise, driving the need for advanced mounting structures that can optimize the performance of these panels.
- Technological advancements in mounting systems, including materials that improve durability and reduce installation time, will further drive market growth.
- Increased investments in solar infrastructure from both public and private sectors will fuel innovation in mounting technologies.
- The growing demand for residential and commercial rooftop solar systems will drive demand for adaptable and cost-effective mounting solutions.
- Government policies and incentives will remain crucial in encouraging solar energy adoption and expanding solar infrastructure globally.
- Emerging markets, particularly in the Middle East, Africa, and Latin America, will see significant growth in solar energy adoption and related mounting infrastructure.
- As solar power becomes a key component of energy transition plans, the integration of solar technologies with smart grids and energy storage solutions will further elevate the need for advanced mounting systems.
