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The fixed
tilt solar PV marketis growing at a rapid pace.
The market growth majorly attributes to the price decrease driven by falling
costs of the overall solar generation systems. Especially, costs of crystalline
silicon axis-based tracking panels saw a heady decline over the past couple of
years, witnessing multiplying installations.
Fixed tilt solar PV is an advanced solar panel
technology that can easily help to generate more electrical energy.
The market is poised to garner exponential
traction over the next couple of years. In this regard, Market Research Future
(MRFR) asserts that the global fixed tilt solar PV market is set to witness
significant growth by 2030, registering an impressive CAGR during the forecast
period (2023 -2030).
Fixed Tilt Solar PV Market - Segmentation
The report is segmented into technologies,
applications, and regions. The technology segment is sub-segmented into
crystalline silicon, thin-film, and others. Of these, the crystalline silicone
segment holds the largest market share due to the increasing installation of
solar systems in residential sectors across the globe. The application segment
is sub-segmented into on-grid and off-grid.
Among these, the on-grid segment holds the largest
market share, while the off-grid segment grows at the highest CAGR due to
increasing installations in remote areas. At the same time, the thin film
segment demonstrates the fastest growth rate due to the decreasing cost and
increasing efficiency of the equipment. The region segment is sub-segmented
into Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Global Fixed Tilt Solar PV Market -
Geographical Analysis
The Asia Pacific region dominates the fixed tilt
solar PV market, mainly due to the increasing adoption of solar systems in
residential setups. Additionally, numerous government initiatives introduced to
increase the adoption of solar energy boost the region’s fixed tilt solar PV
market size. The strong presence of notable market players in the region,
alongside government initiatives to promote renewable energy, also contributes
to the fixed tilt solar PV market shares.
The skyrocketing demand for energy, rapid
depletion of non-renewable energy sources such as fossil fuels, and scarcity of
land are other major fixed tilt solar PV market growth drivers. Furthermore,
rapid growth in the utility sector and flourishing solar panel manufacturing
facilities in this region influence the fixed tilt solar PV market industry.
Fixed Tilt Solar PV Market - Competitive
Landscape
Highly competitive, the fixed tilt solar PV market
looks fragmented with the presence of several well-established market players.
These players incorporate strategic initiatives to gain a larger competitive
advantage, such as acquisition, collaboration, expansion, and technology
launch. Market players continually strive for new ways to utilize their
expertise and explore opportunities in the new energy industry.
Major Players:
Players leading the global Photovoltaic
technology market Sizeinclude Engie, Canadian
Solar, First Solar, Solar FlexRack, Unirac, Trina Solar, JinkoSolar, Yingli
Solar, SolarCity Corporation, and Wuxi Suntech Power Co., Ltd, among others.
Industry/ Innovation/ Related News
Aug. 12, 2021 – GameChange Solar (the US), a global leader in fixed-tilt
structures and trackers, announced the completion of its Genius Tracker project
in India. This 394 MW PV tracker is the largest solar project utilizing
single-axis trackers in India. The solar racking solutions provider supplied
its single-axis Genius Tracker equipment to this 394 MW PV project by Tata
Power in Gujarat. The solar plant is likely to generate
an amount of enough electricity to power around 376,000 households.
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