About Solar Carports and Canopies
Solar Carports and Canopies are a type of carport with a solar panel mounted on top. Solar carports and canopies can be thought of as extremely tall ground-mounts. They are very common in commercial settings, particularly on college and university campuses. Large steel beams that support solar panels above are supported by reinforced concrete foundations. Carports can be designed to cover one row of parking spaces, two rows, or be as large as the project requires. Many carports can be outfitted with electric vehicle charging stations as an added bonus for vehicles sheltered beneath. Solar canopies are used well after sunset. This solar energy is used to power HVAC systems, lights, computers, and other electrical devices to reduce electricity consumption, as well as carports can generate enough stored energy to help mitigate energy bills.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 17.1% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Solar Carports and Canopies market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Able Canopies Ltd. (United Kingdom), MC Power Companies, Inc. (United States), SolarReviews (United States), RBI Solar Inc. (United States), Sunterra Solar, Inc. (United States), Core Development Group LLC (United States), EvoEnergy (United Kingdom), Kappion Carports & Canopies (United Kingdom), BLIKIR (United States), BISOL Group (Slovenia) and Sun Action Trackers (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are The Greener Group (United Kingdom), Alternative Energy, LLC (United States), Solar Energy Builders (United States) and AED Technologies. (Nigeria).
Segmentation Overview
AMA Research has segmented the market of Global Solar Carports and Canopies market by Type (Commercial Solar Carports, Residential Solar Carports, Solar Pergolas, Solar Gazebos and Solar Patio Covers), Application (Commercial and Residential) and Region.
On the basis of application, Commercial segment is dominating the market and held 67.0% of market share in the year 2023On the basis of geography, the market of Solar Carports and Canopies has been segmented into
. If we see Market by Carport & Canopy Designs, the sub-segment i.e. Full Cantilever will boost the Solar Carports and Canopies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Adoption of the Solar Carports which can Minimize the Global Carbon Footprint
Market Growth Drivers:
Increasing Demand for Solar Carports Due to Minimized Energy Expenses and Growing Adoption of the Solar Carports which can Minimize the Global Carbon Footprint
Challenges:
Manufacturing Complexities with Solar Carports Market and Increasing Distribution Overheads and Raw Material Prices Across the Globe
Restraints:
Higher Initial Investments Associated with the Solar Carports might Stagnate the Demand and Easy Availability of Non-Renewable Energy Substitute Sources
Opportunities:
Increasing Government Reimbursements In Establishment Of Solar Energy-Based Systems and Increasing Awareness Across The Developing Economies
Market Leaders and their expansionary development strategies
In December 2023, Bravo, an affiliate of energy investment firm Bravo Infrastructure Group, has acquired Quest Renewables, a solar carport and canopy manufacturer.
In 2022, Slovenia-based solar panel manufacturer Bisol has launched a new series of transparent solar modules for applications in agrivoltaic projects or solar carports.
Key Target Audience
Solar Carports and Canopies Manufacturers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.