Ground-Mounted PV Utility Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Technology (Fixed, Tracking), By End-User (Residential, Commercial, Industrial, Utility), And By Geography - Forecasts From 2021 To 2026

Published:  Jul 2021 Report Code: KSI061614142 Pages: 120

The global ground-mounted PV utility market is expected to grow at a compound annual growth rate of 9.85% over the forecast period to reach a market size of US$9.534 billion in 2026 from US$4.939 billion in 2019. The market of ground-mounted photovoltaic utility market is estimated to grow in the coming years. The growing concerns for the environment and the depletion of natural resources have boosted the demand for renewable sources of energy. The demand for solar energy has therefore been increasing. A grid-connected photovoltaic power system is a solar photovoltaic plant that generates electricity and is connected to the utility grid.

Impact of COVID-19 on the Ground-Mounted PV Utility Market

The ground-mounted solar photovoltaic utility market was severely affected by the outbreak of COVID-19. The lockdown restrictions across various countries caused various solar projects to come to a halt. The market witnessed a significant decline in 2020. It is estimated that post-COVID, with the revival of the economy around the world the demand for ground-mounted solar photovoltaic utility will increase and the market will witness significant growth.

Market Dynamics

In the year 2019, the Cabinet Committee on Economic Affairs (CCEA) in India approved financial support of more than Rs. 46,000 crores by 2022, in order to promote the use of solar energy among farmers and to support the rooftop solar program of the country. With the help of this program, the government proposes to add 25.75 GW of solar capacity by 2022. It is promoting the installation of 17.5 lakh standalone solar-powered agricultural pumps, 10 GW worth of decentralized ground-mounted and grid-connected renewable power plants.

Countries around the world are fighting against rising global warming and the use of renewable energy plays an important role in the reduction of carbon dioxide emissions. Several countries are revising their energy policies to encourage the installation of solar PV. The growing trend of the shift towards renewable energy will boost the demand for ground-mounted PV utilities. Shell, a major oil and gas company has announced on 11th Feb 2021 about its plan to spend annually US$ 2 billion to US$ 3 billion on renewable energy and energy solutions in order to help attain a net-zero status by the year 2050. The U.S. has recorded a new achievement in the case of renewables in the year 2020 by adding a combined 33.6 GW of solar and wind capacity.

Policies like the Feed-in Tariff program and the Power Purchase Agreement will foster growth in the market of ground-mounted photovoltaic utility. The fall in the prices of PV components combined with strict renewable energy goals has greatly driven development in the solar photovoltaic mounting systems market. Moreover, a number of initiatives would boost the demand for ground-mounted PV utility installations, such as tax rebates, assets, and financial leverage, combined with increased spending from public and private funding institutions. The installation cost of solar PV panels is quite expensive therefore acting as a barrier to the growth of the market.

North America is one of the largest markets.

The North American region is one of the largest markets of ground-mounted photovoltaic utility. The United States has one of the largest utility-scale solar photovoltaic installations which could provide electricity to about 12 million American homes. It is estimated that in the coming years the solar PV installations will increase owing to environmental concerns. There will be an increase in the use of solar PV installations for commercial and residential purposes as well. Integration of advanced technology in the new products that are launched will further boost growth in the market. Asia Pacific region will also witness significant growth in the market. The increase in government initiatives will foster growth in the market. Countries like China, India, and Japan will play a major role in driving the growth in the market. Furthermore, an increase in the demand for electricity and limited non-renewable resources will increase the demand for ground-mounted PV utility in the Asia Pacific region.

Key Players

The major players in the market of ground-mounted PV utility are Unirac Inc., Mounting System GmbH, Schletter Group, Clenergy, Xiamen Universe Solar Tech. Co. Ltd., PV Racking, SolarWorld AG, K2 Systems GmbH, Land Power Solar Technology Co. Ltd., Tata International Ltd., Van der Valk Solar Systems BV, Quick Mount PV, Xiamen Grace Solar Technology Co. Ltd., Xiamen Corigy New Energy Technology Co. Ltd, RBI Solar Inc. These companies compete with each other by using various strategies like entering into a joint venture, merger, and acquisition. Product customization and the practice of bulk manufacturing are also some of the strategies used by major players to expand their reach and gain a larger market share.  

Ground-Mounted PV Utility Market Scope:

Report Metric Details
 Market size value in 2019  US$4.939 billion
 Market size value in 2026  US$9.534 billion
 Growth Rate  CAGR of 9.85% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Billion
 Segments covered  Technology, End-User, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Mounting Systems GmbH, Schletter Group, Clenergy, Xiamen Universe Solar Tech. Co. Ltd., PV Racking, SolarWorld AG, K2 Systems GmbH, Land Power Solar Technology Co. Ltd., Van der Valk Solar Systems BV, Quick Mount PV, Xiamen Grace Solar Technology Co. Ltd., Xiamen Corigy New Energy Technology Co. Ltd, RBI Solar Inc.
 Customization scope  Free report customization with purchase

 

Segmentation

  • By Technology
    • Fixed
    • Tracking
  • By End-User
    • Residential
    • Commercial
    • Industrial
    • Utility
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • United Kingdom
      • France
      • Russia
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the ground-mounted PV utility market size by 2026?
A1. The global ground-mounted PV utility market is expected to reach a market size of US$9.534 billion in 2026.


Q2. What is the size of global ground-mounted PV utility market?
A2. Ground-Mounted PV Utility Market was valued at US$4.939 billion in 2019.


Q3. What are the growth prospects for the ground-mounted PV utility market?
A3. The ground-mounted PV utility market is expected to grow at a CAGR of 9.85% over the forecast period.


Q4. Who are the major players in the ground-mounted PV utility market?
A4. The major players in the ground-mounted PV utility market are Unirac Inc., Mounting System GmbH, Schletter Group, Clenergy, Xiamen Universe Solar Tech. Co. Ltd., PV Racking, SolarWorld AG, among others.


Q5. Which region holds the maximum share of the ground-mounted PV utility market?
A5. The North American region is expected to hold the largest share of the ground-mounted photovoltaic utility market.

1. Introduction
1.1. Market Definition
1.2. Market Segmentation


2. Research Methodology
2.1. Research Data
2.2. Assumptions


3. Executive Summary
3.1. Research Highlights


4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis


5. Ground Mounted PV Utility Market Analysis, By Technology
5.1. Introduction
5.2. Fixed
5.3. Tracking


6. Ground Mounted PV Utility Market Analysis, by End-User
6.1. Introduction
6.2. Residential
6.3. Commercial 
6.4. Industrial
6.5. Utility


7. Ground Mounted PV Utility Market Analysis, by Geography  
7.1.  Introduction
7.2.  North America  
7.2.1. North America Ground Mounted PV Utility Market Analysis, By Technology, 2020 to 2026
7.2.2. North America Ground Mounted PV Utility Market Analysis, By End-User, 2020 to 2026
7.2.3. By Country
7.2.3.1. United States
7.2.3.2. Canada
7.2.3.3. Mexico
7.3. South America
7.3.1. South America Ground Mounted PV Utility Market Analysis, By Technology, 2020 to 2026
7.3.2. South America Ground Mounted PV Utility Market Analysis, By End-User, 2020 to 2026
7.3.3. By Country
7.3.3.1. Brazil
7.3.3.2. Argentina
7.3.3.3. Others
7.4. Europe
7.4.1. Europe Ground Mounted PV Utility Market Analysis, By Technology, 2020 to 2026
7.4.2. Europe Ground Mounted PV Utility Market Analysis, By End-User, 2020 to 2026
7.4.3. By Country
7.4.3.1. Germany
7.4.3.2. United Kingdom
7.4.3.3. France
7.4.3.4. Russia
7.4.3.5. Others
7.5. Middle East and Africa
7.5.1. Middle East and Africa Ground Mounted PV Utility Market Analysis, By Technology, 2020 to 2026
7.5.2. Middle East and Africa Ground Mounted PV Utility Market Analysis, By End-User, 2020 to 2026
7.5.3. By Country
7.5.3.1. Saudi Arabia 
7.5.3.2. UAE
7.5.3.3. Others
7.6. Asia Pacific
7.6.1. Asia Pacific Ground Mounted PV Utility Market Analysis, By Technology, 2020 to 2026
7.6.2. Asia Pacific Ground Mounted PV Utility Market Analysis, By End-User, 2020 to 2026
7.6.3. By Country
7.6.3.1. China
7.6.3.2. India
7.6.3.3. Japan
7.6.3.4. South Korea
7.6.3.5. Others


8. Competitive Environment and Analysis
8.1.  Major Players and Strategy Analysis
8.2.  Emerging Players and Market Lucrativeness
8.3.  Mergers, Acquisitions, Agreements, and Collaborations
8.4.  Vendor Competitiveness Matrix


9.  Company Profiles
9.1. Mounting Systems GmbH
9.2. Schletter Group
9.3. Clenergy
9.4. Xiamen Universe Solar Tech. Co. Ltd.
9.5. PV Racking
9.6. SolarWorld AG
9.7. K2 Systems GmbH
9.8. Land Power Solar Technology Co. Ltd.
9.9. Van der Valk Solar Systems BV
9.10. Quick Mount PV
9.11. Xiamen Grace Solar Technology Co. Ltd.
9.12. Xiamen Corigy New Energy Technology Co. Ltd
9.13. RBI Solar Inc.

Mounting Systems GmbH

Schletter Group

Clenergy

Xiamen Universe Solar Tech. Co. Ltd.

PV Racking

SolarWorld AG

K2 Systems GmbH

Land Power Solar Technology Co. Ltd.

Van der Valk Solar Systems BV

Quick Mount PV

Xiamen Grace Solar Technology Co. Ltd.

Xiamen Corigy New Energy Technology Co. Ltd

RBI Solar Inc.

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