The global solar carport market size is slated to expand at a substantial pace owing to the vast economic and environmental advantages of these structures, shares Fortune Business Insights™ in its report, titled “Solar Carport Market Size, Share & Industry Analysis, By Type (One-Row Vehicle Arrangement Carport, Two-Row Single Slope Vehicle Arrangement, Two-Row Dual Slope Vehicle Arrangement), By Application (Commercial, Non-profit, Others), By Design (Cantilever Design, W Frame Design ) and Regional Forecast 2021-2027”. Solar carports are essentially solar panels that are mounted on the ground, covering parking lots like a canopy. They offer a host of benefits and are, thus, being eagerly adopted worldwide, especially in urban areas. For example, carport solar panels can lower utility by reducing energy consumption from conventional sources as well as decreasing carbon footprint. A recent development in this context is EnergyLink’s solar carport project for Faber and Brand that is expected to save the law firm approximately USD 700,000 over the lifespan of the project. Another critical advantage of these panels is that they can be oriented at the optimal angle to capture maximum sunlight, further raising energy savings for consumers. The enormous energy and cost saving potential of solar carports is the primary reason for their increasing demand and uptake around the globe.
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List of Key Players Covered in the Solar Carport Market Report:
- Schletter Inc.
- Upsolar Global
- Green Choice
- SunPower Corporation
- Envision Solar
- SunWize Technologies, Inc.
- Orion Solar Racking
- Phoenix Solar US
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Highlights of the Report:
- Thorough analysis of the factors driving and restraining the market;
- Exhaustive research into the key market segments;
- Detailed diagnosis of the leading players and their strategies; and
- Comprehensive study of the regional developments & dynamics impacting the market.
Initiation of Carport Projects by Leading Economies to Boost the Market
Formulation and implementation of large-scale solar carport projects in major world economies are rapidly widening the scope of this market. In India, for example, Tata Power signed a power purchase agreement with Tata Motors to launch India’s largest solar carport project in Pune, Maharashtra in September 2021. Featuring a capacity of 6.2MWp, the installation is foreseen to bring down carbon emission by 1.6 lakh tons over the project’s lifetime. Similarly, in France, Neoen, a renewable energy company, built a 16.3 MW solar array in a car parking lot in the city of Corbas in April 2019. The project covers 4,600 industrial parking spaces, spans 12.5 hectares, and cost €19.1 million. In the same year, Australia unveiled one of its biggest solar carports in Brisbane. The 100kW structure has been designed to generate energy enough to power car parks, businesses, and shops, cutting utility costs between 30% and 40% and reducing carbon emissions. The successful completion and smooth functioning of these projects are likely to prove favorable for the growth of this market in the forthcoming years.
Supportive Framework for Novel Clean Energy Projects to Bolster the North America Market Growth
North America is expected to dominate the solar carport market share in the near future on account of the active policy support to novel renewable energy projects in the US and Canada. This support is based on the region’s gradual transition towards clean energy sources. In addition, both the US and Canada are home to a large number of solar power companies, which will further contribute to the region’s leading position in this market.
In Europe, the market will be primarily driven by the increasing adoption of electric vehicles and massive investments in renewables. On the other hand, the market in Asia Pacific will derive growth from the rising number of solar carport projects in India, China, and Singapore and focus of these countries to meet their green energy targets.
Top Players to Capitalize on Business Expansion Opportunities
Key players in this market are augmenting the solar carport market growth by exploiting the speedily growing business expansion opportunities. These opportunities are also enabling companies to enhance their innovation capacities and entrench their position in the market.
- June 2021: Paradise Energy Solutions successfully installed a 1 MW solar carport structure for Turn 14, a Pennsylvania-based automotive parts distributor. Turn 14’s Horsham headquarters are now home to one of Pennsylvania’s largest solar-powered carports.
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Major Table of Content For Solar Carport Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Solar Carport Market Analysis, Insights and Forecast, 2027
- North America Solar Carport Market Analysis, Insights and Forecast, 2027
- Europe Solar Carport Market Analysis, Insights and Forecast, 2027
- Asia Pacific Solar Carport Market Analysis, Insights and Forecast, 2027
- The Middle East and Africa Solar Carport Market Analysis, Insights and Forecast, 2027
- Latin America Solar Carport Market Analysis, Insights and Forecast, 2027
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
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