Commercial Solar Carport Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Commercial Solar Carport Market
The commercial solar carport market size was valued at USD 927.31 million in 2023, and the market is now projected to grow from USD 991.72 million in 2024 to USD 1828.45 million by 2032, exhibiting a CAGR of 9.13% during the forecast period of 2024-2032.
The COVID-19 pandemic disrupted worldwide delivery chains, affecting solar panel production and transport, main to assignment postponements and accelerated expenses. The economic downturn made it tough for organizations to commit to long-time period investments, inclusive of solar carport projects. Lockdowns decreased electricity demand for in industrial houses, reducing financial incentives. Labor shortages in renewable electricity industries further impacted mission delays and prices. Access to financing have become extra tough because of danger-averse banks and investors. Some businesses shifted their cognizance to sustainability, prioritizing instant financial survival. However, the pandemic underscored the importance of power resilience, with some businesses recognizing business solar carports with energy storage systems as a reliable energy supply at some point of disruptions.
Solar carports have become an increasing number of popular as corporations are searching for to reduce operational prices and reduce dependence on pricey grid power. These long-lasting, predictable strength sources provide groups a strong and predictable supply of strength, insulating them from future price fluctuations. With standard lifespans of 25-30 years or extra, solar carports provide significant financial returns, mainly while combined with incentives and tax benefits. As energy cost rates, the ROI from business solar carports turns into greater attractive. Solar carport structures also can help reduce other costs, together with costs and grid infrastructure prices, via generating on-site power.
The solar carport market is gaining momentum due to the increasing use of electricity storage solutions like batteries. These structures enable groups to save extra energy for the duration of peak call for hours, ensuring a reliable electricity delivery. This also helps manage demand for charges based on peak utilization. As technology and cost-effectiveness improve, greater businesses are integrating electricity garage into their solar carport installations. This trend is anticipated to force the increase of the commercial solar carport market growth, making these systems more flexible, resilient, and economically appealing.
Comprehensive Analysis of Commercial Solar Carport Market
The global solar carport market is divided into three segments: one-row vehicle arrangement carport, two-row vehicle arrangement carport, and two-row dual slope vehicle arrangement carport. The two-row dual slope arrangement carport is expected to dominate the market due to its efficient use of space, ample shade, and reduced air conditioning requirements. The market is also divided into capacity segments, with the above 1 MW segment dominating. Solar carports with capacities above 1 MW contribute to the stability of the electrical grid and reduce strain during peak demand periods. The less than 500 kW segment is expected to grow significantly due to the development of sub-500kW solar canopies for electric vehicle charging applications. The T-frame structures segment is dominant, offering cost-effective manufacturing and installation, versatility, and adaptability to different site conditions and parking layouts. Semi-cantilever solar awnings are expected to drive growth in this segment.
The Europe region lead the commercial solar carport market share by benefitting a market size of USD 529.88 million in 2023 due to Europe, with its worldwide marketplace proportion, has applied regulations and incentives to sell renewable energy, consisting of solar power. These rules encompass feed-in price lists, tax credits, and subsidies, making solar carports an appealing investment. European countries' dedication to environmental sustainability and reducing carbon emissions has driven the adoption of renewable power sources, together with solar carports, to combat climate alternate. Solar carports help these international locations reap their renewable power dreams.
Tata Power has been awarded India's largest Solar and Battery Storage Project by means of SECI, which incorporates a 100 MW EPC Solar venture and a 120 MWh Utility Scale Battery Energy Storage System. Project in Loharki, Rajasthan, India, which spans 756 acres and has hooked up around 656,700 modules. Key groups profiled within the task encompass Tata Power, SolarPower Corporation, Kokko Shisetsu Kogyo Co., Ltd., Flexisolar, Quest Renewables, Cenergy Power, Xiamen Mibet New Energy Co., Ltd., Antai Technology-Coatd, Positive Energy Solar, and EvoEnergy.
SolarPower Corp., a leading residential solar technology provider, announced three new clients in its multifamily solar business in January 2023, highlighting its efforts to promote solar adoption and energy savings for developers and tenants, thereby enhancing their understanding of renewable energy's economic benefits.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 9.13% from 2023 to 2030
Value Value (USD Million)
Segmentation By Type
One-Row Vehicle Arrangement Carport
Two-Row Vehicle Arrangement Carport
Two-Row Dual Slope Vehicle Arrangement Carport
By Capacity
Less Than 500 kW
500 kW to 1 MW
Above 1 MW
By Design
T-frame Structures
V-frame Structures
By Country
North America (By Type, Capacity, Design, and Country)
U.S.
Canada
Europe (By Type, Capacity, Design, and Country)
U.K.
Germany
France
Italy
Spain
Netherland
Rest of Europe
Asia Pacific (By Type, Capacity, Design, and Country)
China
India
Japan
Australia
Southeast Asia
Rest of Asia Pacific
Latin America (By Type, Capacity, Design, and Country)
Brazil
Mexico
Rest of Latin America
Middle East and Africa (By Type, Capacity, Design, and Country)
GCC
South Africa
Rest of the Middle East and Africa
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions & Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Insight on Regulatory Landscape
- 4.3.1. Porters Five Forces Analysis
- 4.4. Impact of COVID-19 on the Commercial Solar Carport Market
- 5. Global Commercial Solar Carport Market (USD Million) Analysis, Insights, and Forecast, 2019-2030
- 5.1. Key Findings
- 5.2. Market Analysis, Insights, and Forecast – By Type
- 5.2.1. One-Row Vehicle Arrangement Carport
- 5.2.2. Two-Row Vehicle Arrangement Carport
- 5.2.3. Two-Row Dual Slope Vehicle Arrangement Carport
- 5.3. Market Analysis, Insights, and Forecast – By Capacity
- 5.3.1. Less than 500 kW
- 5.3.2. 500 kW to 1 MW
- 5.3.3. Above 1 MW
- 5.4. Market Analysis, Insights, and Forecast – By Design
- 5.4.1. T-frame Structures
- 5.4.2. V-frame Structures
- 5.5. Market Analysis, Insights, and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America
- 5.5.5. Middle East and Africa
- 6. North America Commercial Solar Carport Market (USD Million) Analysis, Insights, and Forecast, 2019-2030
- 6.1. Key Findings
- 6.2. Market Analysis, Insights, and Forecast – By Type
- 6.2.1. One-Row Vehicle Arrangement Carport
- 6.2.2. Two-Row Vehicle Arrangement Carport
- 6.2.3. Two-Row Dual Slope Vehicle Arrangement Carport
- 6.3. Market Analysis, Insights, and Forecast – By Capacity
- 6.3.1. Less than 500 kW
- 6.3.2. 500 kW to 1 MW
- 6.3.3. Above 1 MW
- 6.4. Market Analysis, Insights, and Forecast – By Design
- 6.4.1. T-frame Structures
- 6.4.2. V-frame Structures
- 7.
- 7.1. Market Analysis, Insights, and Forecast – By Country
- 7.1.1. U.S.
- 7.1.2. Canada
- 8. Europe Commercial Solar Carport Market (USD Million) Analysis, Insights, and Forecast, 2019-2030
- 8.1. Key Findings
- 8.2. Market Analysis, Insights, and Forecast – By Type
- 8.2.1. One-Row Vehicle Arrangement Carport
- 8.2.2. Two-Row Vehicle Arrangement Carport
- 8.2.3. Two-Row Dual Slope Vehicle Arrangement Carport
- 8.3. Market Analysis, Insights, and Forecast – By Capacity
- 8.3.1. Less than 500 kW
- 8.3.2. 500 kW to 1 MW
- 8.3.3. Above 1 MW
- 8.4. Market Analysis, Insights, and Forecast – By Design
- 8.4.1. T-frame Structures
- 8.4.2. V-frame Structures
- 8.5. Market Analysis, Insights, and Forecast – By Country
- 8.5.1. UK
- 8.5.2. Germany
- 8.5.3. France
- 8.5.4. Italy
- 8.5.5. Spain
- 8.5.6. Netherlands
- 8.5.7. Rest of Europe
- 9. Asia Pacific Commercial Solar Carport Market (USD Million) Analysis, Insights, and Forecast, 2019-2030
- 9.1. Key Findings
- 9.2. Market Analysis, Insights, and Forecast – By Type
- 9.2.1. One-Row Vehicle Arrangement Carport
- 9.2.2. Two-Row Vehicle Arrangement Carport
- 9.2.3. Two-Row Dual Slope Vehicle Arrangement Carport
- 9.3. Market Analysis, Insights, and Forecast – By Capacity
- 9.3.1. Less than 500 kW
- 9.3.2. 500 kW to 1 MW
- 9.3.3. Above 1 MW
- 9.4. Market Analysis, Insights, and Forecast – By Design
- 9.4.1. T-frame Structures
- 9.4.2. V-frame Structures
- 9.5. Market Analysis, Insights, and Forecast – By Country
- 9.5.1. China
- 9.5.2. India
- 9.5.3. Japan
- 9.5.4. Australia
- 9.5.5. Southeast Asia
- 9.5.6. Rest of Asia Pacific
- 10. Latin America Commercial Solar Carport Market (USD Million) Analysis, Insights, and Forecast, 2019-2030
- 10.1. Key Findings
- 10.2. Market Analysis, Insights, and Forecast – By Type
- 10.2.1. One-Row Vehicle Arrangement Carport
- 10.2.2. Two-Row Vehicle Arrangement Carport
- 10.2.3. Two-Row Dual Slope Vehicle Arrangement Carport
- 10.3. Market Analysis, Insights, and Forecast – By Capacity
- 10.3.1. Less than 500 kW
- 10.3.2. 500 kW to 1 MW
- 10.3.3. Above 1 MW
- 10.4. Market Analysis, Insights, and Forecast – By Design
- 10.4.1. T-frame Structures
- 10.4.2. V-frame Structures
- 10.5. Market Analysis, Insights, and Forecast – By Country
- 10.5.1. Brazil
- 10.5.2. Mexico
- 10.5.3. Rest of Latin America
- 11. Middle East and Africa Commercial Solar Carport Market (USD Million) Analysis, Insights, and Forecast, 2019-2030
- 11.1. Key Findings
- 11.2. Market Analysis, Insights, and Forecast – By Type
- 11.2.1. One-Row Vehicle Arrangement Carport
- 11.2.2. Two-Row Vehicle Arrangement Carport
- 11.2.3. Two-Row Dual Slope Vehicle Arrangement Carport
- 11.3. Market Analysis, Insights, and Forecast – By Capacity
- 11.3.1. Less than 500 kW
- 11.3.2. 500 kW to 1 MW
- 11.3.3. Above 1 MW
- 11.4. Market Analysis, Insights, and Forecast – By Design
- 11.4.1. T-frame Structures
- 11.4.2. V-frame Structures
- 11.5. Market Analysis, Insights, and Forecast – By Country
- 11.5.1. GCC
- 11.5.2. South Africa
- 11.5.3. Rest of Middle East & Africa
- 12. Competitive Analysis
- 12.1. Company Market Share Analysis, 2022
- 12.2. Company Profile
- 12.2.1. Tata Power
- 12.2.1.1. Business Overview
- 12.2.1.2. Product and Service Offerings
- 12.2.1.3. Recent Developments
- 12.2.1.4. Financials (Based on Availability)
- 12.2.2. SunPower Corporation
- 12.2.2.1. Business Overview
- 12.2.2.2. Product and Service Offerings
- 12.2.2.3. Recent Developments
- 12.2.2.4. Financials (Based on Availability)
- 12.2.3. Kokko Shisetsu Kogyo Co., Ltd.
- 12.2.3.1. Business Overview
- 12.2.3.2. Product and Service Offerings
- 12.2.3.3. Recent Developments
- 12.2.3.4. Financials (Based on Availability)
- 12.2.4. FlexiSolar
- 12.2.4.1. Business Overview
- 12.2.4.2. Product and Service Offerings
- 12.2.4.3. Recent Developments
- 12.2.4.4. Financials (Based on Availability)
- 12.2.5. Quest Renewables, Inc.
- 12.2.5.1. Business Overview
- 12.2.5.2. Product and Service Offerings
- 12.2.5.3. Recent Developments
- 12.2.5.4. Financials (Based on Availability)
- 12.2.6. Cenergy Power
- 12.2.6.1. Business Overview
- 12.2.6.2. Product and Service Offerings
- 12.2.6.3. Recent Developments
- 12.2.6.4. Financials (Based on Availability)
- 12.2.7. Xiamen Mibet New Energy Co., Ltd.
- 12.2.7.1. Business Overview
- 12.2.7.2. Product and Service Offerings
- 12.2.7.3. Recent Developments
- 12.2.7.4. Financials (Based on Availability)
- 12.2.8. Antai Technology Co. Ltd
- 12.2.8.1. Business Overview
- 12.2.8.2. Product and Service Offerings
- 12.2.8.3. Recent Developments
- 12.2.8.4. Financials (Based on Availability)
- 12.2.9. Positive Energy Solar
- 12.2.9.1. Business Overview
- 12.2.9.2. Product and Service Offerings
- 12.2.9.3. Recent Developments
- 12.2.9.4. Financials (Based on Availability)
- 12.2.10. EvoEnergy
- 12.2.10.1. Business Overview
- 12.2.10.2. Product and Service Offerings
- 12.2.10.3. Recent Developments
- 12.2.10.4. Financials (Based on Availability)
- 12.2.11. CHIKOUSA
- 12.2.11.1. Business Overview
- 12.2.11.2. Product and Service Offerings
- 12.2.11.3. Recent Developments
- 12.2.11.4. Financials (Based on Availability)
- 12.2.12. Schletter
- 12.2.12.1. Business Overview
- 12.2.12.2. Product and Service Offerings
- 12.2.12.3. Recent Developments
- 12.2.12.4. Financials (Based on Availability)
- 12.2.13. KDC Solar LLC
- 12.2.13.1. Business Overview
- 12.2.13.2. Product and Service Offerings
- 12.2.13.3. Recent Developments
- 12.2.13.4. Financials (Based on Availability)
- 12.2.14. RenEnergy Ltd.
- 12.2.14.1. Business Overview
- 12.2.14.2. Product and Service Offerings
- 12.2.14.3. Recent Developments
- 12.2.14.4. Financials (Based on Availability)
- 12.2.15. Enova
- 12.2.15.1. Business Overview
- 12.2.15.2. Product and Service Offerings
- 12.2.15.3. Recent Developments
- 12.2.15.4. Financials (Based on Availability)
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