In 2022, the United Kingdom's photovoltaic mounting system market achieved a valuation of US$ 678.0 million. The trajectory for photovoltaic mounting system sales in the country is set for impressive growth, with an anticipated Compound Annual Growth Rate (CAGR) of 8.4% from 2023 to 2033. This growth trend is expected to drive the total market size from US$ 730.9 million in 2023 to a substantial US$ 1,643.8 million by 2033.
Among the various segments of the photovoltaic mounting system market, ground-mounted PV systems currently dominate in the United Kingdom. This sector is projected to have a significant impact, contributing to over 40% of the market's value share in 2023. Meanwhile, the sales of rooftop-mounted PV systems are predicted to outpace other system types, maintaining this upward trend throughout the period leading up to 2033.
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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 US$ 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.
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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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