The Europe photovoltaic mounting system Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Europe photovoltaic mounting system market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Europe photovoltaic mounting system. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
The European photovoltaic mounting system market has demonstrated robust year-on-year expansion, experiencing a notable 9% increase in 2022, elevating its market worth to a significant US$ 35.7 billion by the close of the same year. According to Future Market Insights (FMI), a reputable market research and consulting firm certified by ESCOMAR, the industry is anticipated to embark on a promising trajectory. FMI’s projections indicate a substantial growth from US$ 40.6 billion in 2023 to an estimated US$ 178.7 billion by 2033, underpinned by a noteworthy Compound Annual Growth Rate (CAGR) of 16% throughout the forecast period spanning from 2023 to 2033.
Key Trends Driving Market Progress in the European Photovoltaic Mounting System Industry:
- Accelerated Adoption of Renewable Energy: There is a noticeable surge in the uptake of renewable energy sources, particularly solar energy, across Europe. This trend is significantly bolstering the expansion of the photovoltaic mounting system market in the region. With an increasing number of European countries embracing photovoltaic systems, the demand for mounting solutions is experiencing rapid growth.
- Cost Efficiency Advancements: Continuous advancements in technology and manufacturing processes have led to a substantial decrease in the costs associated with photovoltaic installations and energy storage systems. This enhanced cost-effectiveness is playing a pivotal role in driving the demand for photovoltaic mounting systems in Europe. As the cost of renewable energy solutions continues to decline, more consumers and businesses are opting for photovoltaic systems, thereby boosting the market for mounting solutions.
- Heightened Environmental Awareness: There is a growing awareness regarding environmental sustainability and the need to transition towards cleaner energy sources. This awareness, coupled with concerns over energy prices and the finite nature of fossil fuels, has created a conducive environment for the growth of the photovoltaic mounting system market in Europe. Government initiatives and schemes aimed at promoting renewable energy adoption further bolster this trend, driving increased demand for photovoltaic mounting solutions.
Overall, these key trends underscore the significant growth potential of the photovoltaic mounting system market in Europe, driven by the widespread adoption of renewable energy, cost efficiency improvements, and heightened environmental consciousness.
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Drivers Fueling Photovoltaic Mounting System Demand in Europe:
Supportive Regulatory Environment: Europe’s pro-renewable energy policies, including feed-in tariffs, net metering, and renewable energy targets, have incentivized the adoption of photovoltaic systems. This regulatory framework is fostering a favorable market environment, driving demand for photovoltaic mounting systems.
Renewable Energy Targets: European countries have set ambitious renewable energy targets as part of their climate commitments. The European Union’s Renewable Energy Directive, with a binding target of 32% renewable energy by 2030, has spurred investments in solar energy projects, thus boosting demand for photovoltaic mounting systems.
Distinguishing Characteristics of the Adjacent Photovoltaic Mounting System Market:
The Europe photovoltaic mounting system market, while connected to the solar inverter market, exhibits distinct features:
Solar inverters are essential for converting solar panel electricity, while photovoltaic mounting systems focus on securely installing panels.
The growth of the European solar inverter market is driven by rising solar PV adoption and supportive policies.
Although related, the photovoltaic mounting system market’s focus on physical structures may result in a smaller market size compared to solar inverters.
Germany Leading the Renewable Energy Transition:
Germany, with its strong inclination towards renewable energy resources and substantial government support, is anticipated to remain a pivotal market for photovoltaic mounting systems in Europe. FMI predicts a staggering 17.8% CAGR for Germany’s photovoltaic mounting system market during the assessment period. By 2033, the country’s market valuation is projected to reach an impressive US$ 42.2 billion.
Competitive Landscape:
The Europe photovoltaic mounting system industry boasts a blend of established and emerging players. Leading manufacturers, including-
- Schletter GmbH,
- Renusol GmbH,
- Schletter Group,
are in a competitive race to offer innovative, reliable, and cost-effective mounting solutions.
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Europe Photovoltaic Mounting System Market Segmentation
By Product Type:
- Rooftop
- Ground Mounted
- Carport Mounting Structure
By Sales Channel:
- Business to business (B2B)
- Business to Customer (B2C)
By Material Type:
- Aluminum
- Steel
- Others
By Technology:
- Fixed
- Tracking
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