Solar Carport Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Solar Carport Market
The solar carport market size was valued at USD 443.96 million in 2023, and the market is now projected to grow from USD 484.62 million in 2024 to USD 1,079.55 million by 2032, exhibiting a CAGR of 10.5% during the forecast period of 2024-2032.
Due to the COVID-19 pandemic, a lot of supply chains were disturbed; this happened in both the manufacturing of solar components and equipment as well as their distribution to the concerned locations on time. The delays in the manufacturing and installation of these types of carport systems arose from restrictions on international trade and in factory closures. Later a number of solar PV carport projects are either postponed or canceled by investors because of lockdowns, travel limitations, and social distancing policies. In addition, some governments needed to focus on pandemic control and the resulting policies and incentives for the delayed or changed renewable energy policies. Thus, leading to the decline of solar carport market growth.
Most of the government and the local authorities also have subsidy and other supports for the renewable energy projects especially the solar carports. These incentives can be in form of tax credits, grants or rebates and/or favorable net metering policies that make PV carport installations attractive for the consumers. For example, the French Senate passed a bill in 2020 requiring solar panels in car parks with 80 or more spaces. For car parks with 80 to 400 spaces this requirement must be met from 5 years from July 2023. This must be achieved within three years for properties that have more than 400 parking spaces effective July 2023. It is required that solar panel systems cover at least half of the area of a parking lot. The government claimed this plan would produce 11 GW of electricity. This drives the solar carport market share.
Systems for solar carport installations were now becoming more expandable and flexible in that they could be made larger or smaller depending on the client’s energy requirements. The following attributes made them useful for different applications and site requirements. Today PV carports can be built with the battery storage and allow for the storing the excess energy produced during the daytime. This stored energy can be utilized during high consumption or blackouts as an additional source of electricity for emergency or peak/load following demand.
Comprehensive Analysis of Solar Carport Market
The solar carport market and power & energy industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the power & energy industry. These segmentations are methodically segregated By Type Analysis, By Capacity Analysis, By Design Analysis and By Application Analysis. According to the type the market can be divided into one-row vehicle arrangement carports, two-row vehicle arrangement carports, and two-row dual slope vehicle arrangement carports. The market is divided depending on capacity into less than 500 KW to 1 MW, 500 KW, and above 1 MW. On the basis of the design the market share is classified into V-frame and T-frame. T-frame segment holds major market share due to its extensive use in commercial premises such as multi storey car parks and chargeable parking for clients due to low floor space requirement with robust construction and structural design that enables free opening of car doors accounts for its popularity. By product type, the market is classified into commercial and others. The commercial segment dominates the market because of the increase in demand for PV carports from various commercial places like institutions, hotels, and restaurants, educational institutions, hospitals and healthcare facilities, stadiums, and others.
Europe is the dominating continent for the international market. Commercial solar developers provide consumers with a high number of offerings such as large project sizes and large amounts of electricity savings. Also, the market is expanding because of an increased knowledge and the benefits of solar energy. Third is the rise in production of electronic vehicles which form an essential factor in the market development in Europe.
The top players in the market play a crucial role in the power & energy industry assuring industrial prospectus growth and setting market standards. These players include, Tata Power (India), Antai Technology Co. Ltd (China), Kokko Shisetsu Kogyo Co., Ltd (Japan), Cenergy Power (U.S.), Positive Energy Solar (U.S.), CHIKOUSA (U.S.), RenEnergy Ltd. (U.K.), SunPower Corporation (U.S.), Flexisolar (U.K.), Schletter (Germany), Quest Renewables, Inc. (U.S.), Xiamen Mibet New Energy Co., Ltd (China), EvoEnergy (U.K.), KDC Solar LLC (U.S.), and Enova (UAE).
On April 2023, Port Authority of New York and New Jersey (PANYNJ) and TotalEnergies start largest Solar Carport Construction Deal at John F Kennedy Airport.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 10.5% from 2024 to 2032
Unit Value (USD Million)
Segmentation By Type
One-Row Vehicle Arrangement Carport
Two-Row Vehicle Arrangement Carport
Two-row dual slope vehicle arrangement Carport
By Design
T-frame structures
V-frame structures
By Capacity
Less than 500 kW
500 kW to 1 MW
Above 1 MW
By Application
Commercial
Others
By Region
North America (By Type, By Design, By Capacity, By Application, and Country)
- U.S. (By Type)
- Canada (By Type)
Europe (By Type, By Design, By Capacity, By Application, and Country)
- U.K. (By Type)
- Germany (By Type)
- France (By Type)
- Italy (By Type)
- Spain (By Type)
- Netherland (By Type)
- Rest of Europe (By Type)
Asia Pacific (By Type, By Design, By Capacity, By Application, Country)
- China (By Type)
- India (By Type)
- Japan (By Type)
- Australia (By Type)
- Southeast Asia (By Type)
- Rest of Asia Pacific (By Type)
Latin America (By Type, By Design, By Capacity, By Application, and Country)
- Brazil (By Type)
- Mexico (By Type)
- Rest of Latin America (By Type)
Middle East and Africa (By Type, By Design, By Capacity, By Application, and Country)
- GCC (By Type)
- South Africa (By Type)
- Rest of the Middle East and Africa (By Type)
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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
- 4.4. Porters Five Forces Analysis
- 4.5. Impact of COVID-19 on the Hydrogen Fueling Station Market
- 5. List of Major Hydrogen Fueling Station OEMs & Compression OEMs
- 5.1. List of Major Hydrogen Fueling Station OEMs
- 5.1.1. Company Name
- 5.1.2. Location
- 5.1.3. Product & Service Offering
- 5.2. List of Major Hydrogen Fueling Compression OEMs
- 5.2.1. Company Name
- 5.2.2. Location
- 5.2.3. Product & Service Offering
- 6. General Station Configuration, By Type
- 6.1. Small Station
- 6.2. Medium Station
- 6.3. Large Station
- 7. Hydrogen Fueling Station Cost (Avg. CAPEX by Type)
- 7.1. Station Cost
- 7.2. Compression Cost
- 8. Global Hydrogen Fueling Station Market (Units) (USD Million) Analysis, Insights, and Forecast, 2019-2030
- 8.1. Key Findings
- 8.2. Market Analysis, Insights, and Forecast – By Type
- 8.2.1. Small Station (Less than 1 t/d of H2)
- 8.2.1.1. Low Pressure (350 bar)
- 8.2.1.2. High Pressure (700 bar)
- 8.2.2. Medium Station (1-4 t/d of H2)
- 8.2.2.1. Low Pressure (350 bar)
- 8.2.2.2. High Pressure (700 bar)
- 8.2.3. Large Station (More than 4 t/d of H2)
- 8.2.3.1. Low Pressure (350 bar)
- 8.2.3.2. High Pressure (700 bar)
- 8.3. Market Analysis, Insights, and Forecast – By Region
- 8.3.1. North America
- 8.3.2. Europe
- 8.3.3. Asia Pacific
- 8.3.4. Rest of the World
- 9. North America Hydrogen Fueling Station Market (Units) (USD Million) Analysis, Insights, and Forecast, 2019-2030
- 9.1. Key Findings
- 9.2. Market Analysis, Insights, and Forecast – By Type
- 9.2.1. Small Station (Less than 1 t/d of H2)
- 9.2.1.1. Low Pressure (350 bar)
- 9.2.1.2. High Pressure (700 bar)
- 9.2.2. Medium Station (1-4 t/d of H2)
- 9.2.2.1. Low Pressure (350 bar)
- 9.2.2.2. High Pressure (700 bar)
- 9.2.3. Large Station (More than 4 t/d of H2)
- 9.2.3.1. Low Pressure (350 bar)
- 9.2.3.2. High Pressure (700 bar)
- 9.3. Market Analysis, Insights, and Forecast – By Country
- 9.3.1. U.S.
- 9.3.2. Canada
- 10. Europe Hydrogen Fueling Station Market (Units) (USD Million) Analysis, Insights, and Forecast, 2019-2030
- 10.1. Key Findings
- 10.2. Market Analysis, Insights, and Forecast – By Type
- 10.2.1. Small Station (Less than 1 t/d of H2)
- 10.2.1.1. Low Pressure (350 bar)
- 10.2.1.2. High Pressure (700 bar)
- 10.2.2. Medium Station (1-4 t/d of H2)
- 10.2.2.1. Low Pressure (350 bar)
- 10.2.2.2. High Pressure (700 bar)
- 10.2.3. Large Station (More than 4 t/d of H2)
- 10.2.3.1. Low Pressure (350 bar)
- 10.2.3.2. High Pressure (700 bar)
- 10.3. Market Analysis, Insights, and Forecast – By Country
- 10.3.1. UK
- 10.3.2. Germany
- 10.3.3. France
- 10.3.4. Italy
- 10.3.5. Denmark
- 10.3.6. Netherlands
- 10.3.7. Rest of Europe
- 11. Asia Pacific Hydrogen Fueling Station Market (Units) (USD Million) Analysis, Insights, and Forecast, 2019-2030
- 11.1. Key Findings
- 11.2. Market Analysis, Insights, and Forecast – By Type
- 11.2.1. Small Station (Less than 1 t/d of H2)
- 11.2.1.1. Low Pressure (350 bar)
- 11.2.1.2. High Pressure (700 bar)
- 11.2.2. Medium Station (1-4 t/d of H2)
- 11.2.2.1. Low Pressure (350 bar)
- 11.2.2.2. High Pressure (700 bar)
- 11.2.3. Large Station (More than 4 t/d of H2)
- 11.2.3.1. Low Pressure (350 bar)
- 11.2.3.2. High Pressure (700 bar)
- 11.3. Market Analysis, Insights, and Forecast – By Country
- 11.3.1. China
- 11.3.2. South Korea
- 11.3.3. Japan
- 11.3.4. Australia
- 11.3.5. Rest of Asia Pacific
- 12. Rest of the World Hydrogen Fueling Station Market (Units) (USD Million) Analysis, Insights, and Forecast, 2019-2030
- 12.1. Key Findings
- 12.2. Market Analysis, Insights, and Forecast – By Type
- 12.2.1. Small Station (Less than 1 t/d of H2)
- 12.2.1.1. Low Pressure (350 bar)
- 12.2.1.2. High Pressure (700 bar)
- 12.2.2. Medium Station (1-4 t/d of H2)
- 12.2.2.1. Low Pressure (350 bar)
- 12.2.2.2. High Pressure (700 bar)
- 12.2.3. Large Station (More than 4 t/d of H2)
- 12.2.3.1. Low Pressure (350 bar)
- 12.2.3.2. High Pressure (700 bar)
- 13. Competitive Analysis
- 13.1. Company Market Share Analysis, 2022
- 13.2. Company Profile
- 13.2.1. Air Liquide
- 13.2.1.1. Business Overview
- 13.2.1.2. Product and Service Offerings
- 13.2.1.3. Recent Developments
- 13.2.1.4. Financials (Based on Availability)
- 13.2.2. Air Products and Chemicals, Inc.
- 13.2.2.1. Business Overview
- 13.2.2.2. Product and Service Offerings
- 13.2.2.3. Recent Developments
- 13.2.2.4. Financials (Based on Availability)
- 13.2.3. China Petrochemical Corporation
- 13.2.3.1. Business Overview
- 13.2.3.2. Product and Service Offerings
- 13.2.3.3. Recent Developments
- 13.2.3.4. Financials (Based on Availability)
- 13.2.4. FirstElement Fuel Inc.
- 13.2.4.1. Business Overview
- 13.2.4.2. Product and Service Offerings
- 13.2.4.3. Recent Developments
- 13.2.4.4. Financials (Based on Availability)
- 13.2.5. FuelCell Energy, Inc.
- 13.2.5.1. Business Overview
- 13.2.5.2. Product and Service Offerings
- 13.2.5.3. Recent Developments
- 13.2.5.4. Financials (Based on Availability)
- 13.2.6. Cummins Inc.
- 13.2.6.1. Business Overview
- 13.2.6.2. Product and Service Offerings
- 13.2.6.3. Recent Developments
- 13.2.6.4. Financials (Based on Availability)
- 13.2.7. Linde Group
- 13.2.7.1. Business Overview
- 13.2.7.2. Product and Service Offerings
- 13.2.7.3. Recent Developments
- 13.2.7.4. Financials (Based on Availability)
- 13.2.8. Nel Hydrogen
- 13.2.8.1. Business Overview
- 13.2.8.2. Product and Service Offerings
- 13.2.8.3. Recent Developments
- 13.2.8.4. Financials (Based on Availability)
- 13.2.9. Nuvera Fuel Cells
- 13.2.9.1. Business Overview
- 13.2.9.2. Product and Service Offerings
- 13.2.9.3. Recent Developments
- 13.2.9.4. Financials (Based on Availability)
- 13.2.10. Praxair
- 13.2.10.1. Business Overview
- 13.2.10.2. Product and Service Offerings
- 13.2.10.3. Recent Developments
- 13.2.10.4. Financials (Based on Availability)
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