Global Commercial Solar Carport Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Commercial Solar Carport Market was worth US$ 431.2 Mn and is expected to grow at a CAGR of 13.5% over the forecast period. While the historical CAGR is 10.8%, the market is expected to hit US$ 1,529.8 Mn by 2032 end.
One of the most popular solar technologies uses commercial solar carports, which cover parking spaces with solar modules or panels. These carport systems are one of the unique options for commercial solar projects since they already have a built-in roof, unlike ground-mount solar or roof-type solar panels, which require a surface for the solar panels to adhere to. This kind of carport creates electricity that is immediately usable on-site. Modern solar carports also offer electric vehicle charging, significantly increasing their contribution to clean energy business.
COMMENCEMENT OF SOLAR CARPORT PROJECTS BY FOREMOST ECONOMIES TO LIFT THE MARKET GROWTH
The market is growing quickly as large-scale solar carport projects are designed and implemented in major international economies. India, for instance, To start the largest solar carport project in India, Tata Power, the country’s largest integrated power provider, inked a Power Purchase Agreement with Tata Motors in August 2021.
The 6.2 MW project is anticipated throughout its lifetime to save Tata Motors 1.6 lakh tonnes of CO2 emissions throughout. High-caliber engineering and specialized design are needed to assemble the enormous carport structures at the grid-connected carport complex.
HIGH COST OF SOLAR CARPORT TO HINDER MARKET GROWTH
A solar carport’s price increases directly as the cantilever, structural weight, higher vehicles, and guttering systems increase. It becomes more expensive due to the need for additional steel for the cantilever, high installation costs caused by the weight of the structure, the requirement that parking bays be oriented between south-east and south-west, the need for additional steel to accommodate taller vehicles, and the complexity of the design and installation of the guttering system.
Additionally, the intricacy of the buildings is a major factor in determining the cost of the solar carport and related services. As a result, the high price serves as a deterrent to market expansion.
Market Segments Covered in Report
By Region and Country:
Which capacity range accounts for dominant share in Solar Carport Market?
1 MW sector retained commanding market dominance. Several nations worldwide have announced plans to enhance their energy mix and produce renewable electricity in the building and construction industry. 1MW is expected to be the fastest-growing sector of the commercial energy market over the projected period. This is brought on by expanding commercial buildings with internal electricity needs and corporate tax savings in mind.
Which design is expected to have the largest demand during the forecast period?
The T-frame constructions benefit from having the smallest ground footprint possible. Three-bay stands are divided by vertical pillars. The T-Frame design works well in paid parking situations when the consumer will not accept any lstreams. The T-Frame can be placed directly into the building for a minimal ground footprint, making it appropriate for multi-story car park top decks.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.
Due to the market’s extreme fragmentation, numerous tiny companies offer solar carports to multiple nations to meet the rising demand for these carports from the commercial building & construction sector, numerous the globe.
The key developments in the Global Commercial Solar Carport Market are:
A list of some of the key suppliers present in the market are:
Global Zinc Air Batteries Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Capacity, Design, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 13.5%.
Commencement of solar carport projects by major economies to lift the market growth.
The higher cost of the solar carport hinders the market growth.
Key Global Commercial Solar Carport Market players are SunPower Corporation, Tata Power, FlexiSolar, Antai Technology Co. Ltd, Schletter, Kokko Shisetsu Kogyo Co., Ltd, Quest Renewables, Inc., Cenergy Power, Xiamen Mibet New Energy Co., Ltd, Positive Energy Solar, EvoEnergy, CHIKOUSA, KDC Solar LLC, RenEnergy Ltd., Enova
North America is expected to account for the largest market revenue share in the Global Commercial Solar Carport Market.
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