The United Kingdom photovoltaic mounting system market has exhibited significant growth, achieving a valuation of USD 678.0 million in 2022. Forecasts indicate a robust compound annual growth rate (CAGR) of 8.4% from 2023 to 2033, propelling the market to reach USD 1,643.8 million by 2033. This trajectory underscores the nation’s steadfast commitment to sustainable energy solutions.
Within this thriving market, ground-mounted PV systems take center stage, projected to contribute over 40% of the market’s value share in 2023. This trend underscores the widespread adoption of ground-mounted systems, highlighting their effectiveness and efficiency in harnessing solar power across the United Kingdom.
Key Insights from the Study on the United Kingdom Photovoltaic Mounting System Market:
- The photovoltaic mounting system sector in the United Kingdom is poised to experience robust growth, projected at an impressive 8.4% CAGR until 2033.
- Anticipated to surpass USD 1,643.8 million by 2033, the market’s value in the United Kingdom is on a significant upward trajectory.
- Segmented by product type, the ground mounted photovoltaic system is expected to dominate, capturing approximately 59% of the market share throughout the projected period.
- In terms of sales channels, the B2C segment is predicted to hold a substantial share, accounting for over 37% of the United Kingdom’s market.
- Across end-use categories, the residential segment is set to thrive with a noteworthy 9.3% CAGR over the coming decade.
Expanding Opportunities in the United Kingdom Photovoltaic Mounting System Market:
In recent times, the United Kingdom has emerged as a highly promising market for manufacturers of photovoltaic mounting systems. This growing trend can be attributed to the increasing embrace of renewable energy sources and the presence of favorable government initiatives.
Government-driven programs, such as the Feed-In Tariff (FIT) scheme, have significantly contributed to this positive momentum. The FIT scheme offers attractive financial incentives to both homeowners and businesses for adopting renewable energy systems, including photovoltaic mounting solutions.
Playing a pivotal role in advancing renewable energy utilization, the Renewable Energy Association (REA) is actively promoting the adoption of such technologies across the United Kingdom.
The synergy between government incentives and the proactive efforts of industry bodies like the REA is set to fuel the continued adoption of photovoltaic systems throughout the United Kingdom. This collective drive will further facilitate the expansion of the United Kingdom’s photovoltaic mounting system market.
Moreover, the ongoing innovation in photovoltaic mounting systems is expected to inject fresh momentum into the market’s growth trajectory, projecting positive outcomes well into 2033.
Competitive Landscape:
Leading manufacturers and providers of photovoltaic mounting systems include Unirac Inc., Schletter Inc., SunPower Corporation, Mounting Systems GmbH, and Renusol GmbH.
These companies offer a wide range of PV mounting systems, including rooftop, ground-mounted, and floating systems, and are continuously innovating their products to stay ahead in the market.
Read More! https://finance.yahoo.com/news/united-kingdom-photovoltaic-mounting-systems-053000315.html
United Kingdom 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
By End Use:
- Residential
- Commercial
- Offices
- Recreational Areas
- Educational Institution
- Hospitality
- Healthcare Facilities
- Others
- Industrial
- Municipal and Government Facilities
- Others
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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