Solar Carport Market

Solar Carport Market Size (2023-2028):

The Global Solar Carport Market was worth US$ 524 million in 2022 and is anticipated to reach a valuation of US$ 685 million by 2028 and is predicted to register a CAGR of 4.80% during 2023-2028.

Solar carports are overhead canopies that are created to cover parking areas, as opposed to panels that are installed on top of an existing carport structure. They are different types of solar systems. Unlike traditional PV systems, solar carports provide users with shade for parking their vehicles by raising the solar panel installation height. Ground-mount solar panels, which are angled panel modules mounted on the ground rather than on a rooftop, have a lot in common with solar carports. Solar carports and solar patio umbrellas have the advantage of not requiring more property than ground mount requires. Solar panel carports, as a result, make better use of space than ground-mounted panels. If you're concerned about space efficiency, a solar carport is a better option than a ground-mounted system. Overall, solar panel carports have fewer limitations or conflicts than ground-mounted solar and can be considered superior in any situation

These devices are higher ground-mounted solar panels that are elevated to fit a car beneath them and employ the same equipment and procedures as ground-mounted solar panels. Furthermore, solar carports can be customized to integrate solar panels in their structure, allowing them to serve as both a vehicle cover and a source of clean energy. Solar carports are a great way to add solar PV to your home without making any renovations, as well as offering a safe sanctuary for your vehicles. In addition, an electric vehicle charging station may be installed. Furthermore, because certain places are rural and off the grid, the market will be driven by the use of solar carports in these areas.

Market Growth:

The increase in knowledge of the usefulness of solar energy is primarily responsible for the expansion of the global market for solar carports.

Market Drivers:

The growing awareness of the usefulness of solar energy is the primary driver of this market. Solar energy is free because it is a natural source of energy and, more importantly, a renewable supply of energy with many uses. The fact that solar carports may be used in a number of climates is another element driving the industry. In icy places, they protect cars from ice and snow, decreasing the need for plowing. In warm climates, a carport provides shade, keeping cars far cooler than if they were exposed to direct sunlight. Solar carports turn unused and unproductive space into a long-term profitable investment.

Solar carports are a great way to add solar PV to your home without making any renovations, as well as offering a safe sanctuary for your vehicles. Furthermore, a charging station for electric vehicles might be included. Furthermore, because certain places are rural and off the grid, the market will be driven by the use of solar carports in these areas.

Market Restraints:

Solar carport installation and maintenance costs are inhibiting market expansion. PV installation necessitates a significant upfront investment. Solar carports, which are weather dependent, are another market restraint. They will not function properly on gloomy or rainy days. Furthermore, storing solar energy in batteries is expensive. It also necessitates a location in a store where the battery will not be damaged if it gets wet.

The covid-19 epidemic resulted in a drop in economic growth in practically all of the world's major economies, altering consumer behavior. The COVID-19 epidemic has had a significant impact on the solar carport business. National and international transportation have been hampered as a result of the lockdown applied in several nations, which has had a substantial impact on the supply chain of numerous industries throughout the world. As a result, the supply-demand mismatch widens. As a result, insufficient raw material supply is projected to slow down solar carport production, negatively impacting market growth. However, this situation is expected to improve as governments around the world begin to relax regulations to allow businesses to resume operations.

SOLAR CARPORT MARKET REPORT COVERAGE:

Market Segmentation: 

Solar Carport Market- By Type:

• One-Row Vehicle Arrangement
• Two-Row Single Slope Vehicle Arrangement
• Two-Row Dual Slope Vehicle Arrangement

Because they do not require additional room and make use of parking space, row vehicle arrangement carports lead the market. They are lucrative with little investment. It's also easy to install and maintain, as well as long-lasting and corrosion-free.

Solar Carport Market- By Application:

• Commercial
• Non-Profit
• Others

Non-profit organizations lead the market because they can swiftly build solar carport systems with low or no out-of-pocket costs.

Solar Carport Market- By Design:

• Cantilever Design
• W-Frame Design

The cantilever design dominates the market because it provides for easy parking and easier car door opening due to the lack of supporting legs on the bay's sides. It also has a big surface area, making it perfect for optimizing solar exposure.

Market Regional Analysis: 

The Global Solar Carport Market Report includes the segmentation of regions:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Six entertainment flags in North America built California's largest solar carport and became the entertainment industry's renewable energy market leader. The industry is expanding as people become more aware of the benefits of solar energy in countries like the United States.

Schindler Clean Energy Systems of Germany in solar carports and electric vehicle power delivery in Europe. To offer enough power for e-cars, they coupled a lengthy carport with robust commercial energy storage in one package.

Various solar projects are under construction in Asia Pacific nations such as India and Singapore, which would boost the solar carport market.

The market in the Middle East and Africa will be driven by the shift toward sustainable energy trends in countries like the UAE and Saudi Arabia. The UAE's Green Electricity Targets, which include generating 50% of energy from renewable sources by 2050, will help boost the solar carport sector.

Latin America

Market Key Players:

1. SunEdison
2. Envision Solar
3. Phoenix Solar US
4. SolarCity
5. Orion Solar Racking
6. SunPower Corporation
7. SunWize Technologies, Inc.
8. Green Choice
9. Cenergy
10. Upsolar Global

Market Recent Developments:

• The Netherlands launched a 35 MW solar power carport with 90,000 solar panels in the first week of May. The solar carport is located near Biddinghuizen, which is also the site of the annual Lowlands music festival. The solar power system was installed and made operational by Solarfields, a firm based in the Netherlands. This is the world's largest solar power carport project, according to reports.
• A freshly installed 13.5 MW solar carport system at Ford South Africa's assembly factory is now providing 35 percent of the plant's electrical demand. Ford will offset a considerable proportion of CO2 from the electricity it consumes from South Africa's predominantly coal-powered grid through a long-term Power Purchase Agreement with SolarAfrica. According to Ford South Africa, the enormous arrays covering carports for 3,610 vehicles at the Silverton assembly plant in Pretoria consist of 30,226 solar panels. The 13.5MW plant contributes to Ford's global goals of using carbon-free electricity in all of its industrial facilities by 2035 and achieving carbon neutrality by 2050.