As per a new research study by Transparency Market Research (TMR), the global market for solar PV mounting systems is registering a tremendous growth. The research report, titled “Solar PV Mounting Systems Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” assesses the key forces boosting the growth, obstacles faced by vendors, opportunities, challenges, prominent trends, and the market potentials to determine the performance and the future prospects of this market.
According to the research report, the surge in the number of government initiatives to encourage the uptake of solar energy, owing to the increasing depletion of non-renewable resources of energy, is the main factor behind the growth of the global market for solar PV mounting systems. Over the coming years, the market will gain significantly from the rising interest for on-framework as well as off-lattice power from remote locations for constant supply of energy, notes the report.
On the basis of the geography, the worldwide solar PV mounting systems market can be classified into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Among these, Asia Pacific has occupied the leading position and is anticipated to remain on the leading position over the next few years. The rapid urbanization and enhancement in infrastructure is boosting the market for solar PV mounting systems in this region. Economies, such as, China, India, and Japan, are focusing considerably on shifting the preference of their citizens towards solar power, which is likely to support this market, substantially, in the near future.
With countless establishments, the market for solar PV mounting systems in North America is also registering a dramatic rise and is expected to continue doing so in the years to come. Europe, however, is anticipated to surface as a rather lucrative market for solar PV mounting systems over the next few years, thanks to the rising consumer preference for sustainable energy solutions. The markets in Latin America and the Middle East and Africa are relatively new and are expected to grow steadily over the forthcoming years, states the research study.
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The competitive landscape of the global market for solar PV mounting systems has also been analyzed in this research report. Quick Mount PV, Nuevosol Energy Pvt. Ltd., UNIRAC Inc., K2 Systems, Schletter Canada Inc., Pennar Industries Ltd., Wind & Sun Ltd., RBI Solar Inc., Mounting Systems GmbH, and Belmont Solar are some of the leading vendors of solar PV mounting across the world. The presence of a large number of players in this market makes it fragmented and highly competitive, states the research report.