Ground Mounted Solar PV Module Market Size - By Product, By Technology, By Connectivity (On Grid, Off Grid), By End Use (Residential, Commercial & Industrial, Utility), Regional Outlook & Forecast, 2024 – 2032

Ground Mounted Solar PV Module Market Size - By Product, By Technology, By Connectivity (On Grid, Off Grid), By End Use (Residential, Commercial & Industrial, Utility), Regional Outlook & Forecast, 2024 – 2032

Ground mounted solar PV module market size is anticipated to grow at 5% CAGR between 2024 and 2032 driven by the increasing demand for large-scale renewable energy projects and the strong need for sustainable energy solutions.

Ground-mounted solar PV systems are ideal for utility-scale solar farms, which can generate significant amounts of electricity to meet the growing energy needs of various regions. These systems offer several advantages, including higher energy yields due to optimal panel orientation and tilt, along with the ability to deploy in areas with large, unobstructed spaces. For instance, in March 2022, Gautam Solar unveiled the G-2X Monocrystalline series of solar panels with capacities of up to 566 Wp.

Technological improvements have led to more efficient and durable solar modules, making ground-mounted systems more cost-effective and attractive to investors. Falling installation and maintenance costs, coupled with supportive government policies and incentives for renewable energy projects will further enhance the feasibility and attractiveness of ground-mounted solar PV installations.

The overall industry is segmented into product, technology, connectivity, end use, and region.

Based on connectivity, the ground mounted solar PV module market from the off-grid segment is poised to grow between 2024 and 2032 due to the increasing need for reliable and independent energy sources in remote or underserved areas. Ground-mounted solar PV systems are particularly suited for off-grid applications as they can be installed in large, open spaces away from existing power infrastructure for providing a cost-effective solution for generating electricity in isolated regions.

In terms of end use, the ground mounted solar PV module industry from the residential segment is set to witness significant CAGR from 2024 to 2032 owing to the increasing interest of homeowners on maximizing solar energy production and achieving greater energy independence. Ground-mounted systems offer higher efficiency and more flexibility in terms of panel orientation and tilt compared to roof-mounted installations, allowing residential users to capture more sunlight and generate more electricity.

North America ground mounted solar PV module market is expected to witness notable growth from 2024 to 2032 attributed to the expanding commitment to renewable energy targets and the increasing adoption of solar energy in rural and suburban areas. North American countries, particularly the U.S. and Canada, have set ambitious goals for reducing greenhouse gas emissions and transitioning to sustainable energy sources. This is fueling heavy investments in large-scale solar projects across the region.