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NEWARK, UNITED STATES, November 14, 2022 /EINPresswire.com/ -- As per the report published by Fior Markets, the global solar PV mounting systems market is expected to grow from USD 10.2 billion in 2020 and to reach USD 22.6 billion by 2028, growing at a CAGR of 10.5% during the forecast period 2021-2028.

Solar module racking is another term for solar PV installation solutions. Solar panels are installed on desired locations using mounting methods. The majority of solar PV mounting systems are comprised of aluminium, stainless steel, iron, a mix of metals, and polymers. These systems provide basic slant edge and introduction to solar boards, allowing the most amount of solar vitality to be captured. As a result, the vitality is captured and converted into power. Solar PV mounting systems are perhaps the most important area for growth and the most aggressive solar products on the market. Solar PV mounting solutions on the market are versatile, light-weight, durable, easy to instal, and have minimal development and constriction qualities. Photovoltaics, or PV, is a method of generating electricity by converting solar energy into electricity using solar cells. The solar cells are put together into solar panels, which are then mounted on rooftops, the ground, lakes, and dams. Photovoltaic modules are mounted on surfaces such as the ground, facades, buildings, and roofs using PV mounting methods. The majority of the materials utilised in these systems are climate-dependent.

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The growing need for on-framework and off-lattice electricity from remote areas, as well as the need for a consistent and reliable supply, will fuel the growth of the solar PV mounting systems market. Expanding awareness of the negative effects of ozone-depleting chemical emissions on the environment and human health is expected to boost the use of solar-powered energy. Solar PV mounting systems find use in the utility, residential, and commercial sectors. The solar PV mounting systems sector, as a business field, will be driven by mounting consumption on green development subject to zero discharge enactments throughout the forecast time period. There are a number of obstacles that will stymie overall market expansion. The market's growth is being stifled by problems such as a paucity of trained workers, knowledge, and a lack of norms and conventions. In addition, fluctuating raw material prices are expected to stifle growth during the projection period. Solar PV mounting systems are made from raw materials such as aluminium, steel, iron, and other metals.

RBI Solar, UNIRAC, Inc., Schletter GmbH, Mounting Systems GmbH, and K2 Systems GmbH are just a few of the main companies in solar PV mounting systems market.

Ground Mounted segment dominated the market and held the largest market share of 60.7% in the year 2020
On the basis of product, the global solar PV mounting systems market is segmented into ground mounted and rooftop. The ground mounted segment held the largest market share of 60.7% in the year 2020. The authorities have been forced to focus more on the commissioning of different large-scale ground mounted utility solar projects due to rising power demand and severe pollution regulations. These projects provide power at a competitive price, making them more preferable to other alternative energy sources. Furthermore, simplicity of maintenance, increased power output, and panel longevity are some of the primary underlying drivers driving market growth. The rising demand for solar PV mounting systems, which are regarded a critical component of a photovoltaic construction, has been fuelled by the increasing installation of these high-capacity ground-mounted projects.

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Residential segment dominated the market and held the largest market share of 35.7% in the year 2020
On the basis of end-use, the global solar PV mounting systems market is segmented into ground commercial, residential and utility. The residential segment held the largest market share of 35.7% in the year 2020. The residential sector is rapidly becoming one of the most important end-users of solar goods, with significant development potential in the foreseeable future. Feed-in tariffs, incentivization, and net metering regulations that encourage the use of solar goods might dramatically increase product penetration in previously untouched or undiscovered areas. Furthermore, the availability of lower-cost technologies as a result of increased global competition and economies of scale might boost demand for solar PV mounting systems throughout the forecast period. The utility industry favours big income-generating projects that rely on reduced Levelized Cost of Energy (LCOE) to generate revenue, necessitating the deployment of high-efficiency solar projects with lower operating costs.

Regional Segment of Solar PV Mounting Systems Market

North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global solar PV mounting systems market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia Pacific region holds the largest market share of 25.16% in the year 2020. As a consequence of favourable government regulations, the regional market demand is being pushed by the increasing installation of solar technology in the residential and commercial sectors. Feed-in Tariffs, net-metering, self-consumption programmes, investment incentives, and other government initiatives have expedited the use of technology. As a result of this, the APAC market will gain. Australia is aggressively investing in a number of large-scale projects due to its massive land resources and great solar potential. As a consequence of supportive government regulations, the regional market demand is being bolstered by the increasing installation of solar technology in the residential and commercial sectors. Feed-in Tariffs, net-metering, self-consumption programmes, investment incentives, and other similar government initiatives have driven exponential expansion in technology use.

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About the report:
The global solar PV mounting systems market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.

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