Rise in number of government incentives is a major factor that
drives the growth of the solar carport market.
PORTLAND, Ore., May 23, 2024 /PRNewswire/ -- Allied Market
Research published a report, titled, "Solar Carport Market by
Design Type (T-shape, V-shape, L-shape, and Y-shape), Vehicle
Arrangement (One-row and Double-row), and Application (Commercial,
Residential, and Industrial): Global Opportunity Analysis and
Industry Forecast, 2023-2032". According to the report, the
solar carport market was valued at $0.8 billion in 2022, and is estimated to reach
$1.7 billion by 2032, growing at a
CAGR of 8.1% from 2023 to 2032.
Prime determinants of growth
The global solar carport market is driven by factors such as
rise in government incentives. Shift in solar energy to cut carbon
emissions creates lucrative growth opportunities. On the other
hand, competing energy sources hinder market growth.
Request Sample of the Report on Solar Carport
Market Forecast 2032
https://www.alliedmarketresearch.com/request-sample/A09031
Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2023–2032
|
Base Year
|
2022
|
Market Size in
2022
|
$0.8 billion
|
Market Size in
2032
|
$1.7 billion
|
CAGR
|
8.1 %
|
No. of Pages in
Report
|
324
|
Segments
covered
|
Design Type, Vehicle
Arrangement, Application, and Region.
|
Driver
|
Rise in government
incentives
|
Opportunity
|
Shift in solar energy
to cut carbon emissions
|
Restraint
|
Competing energy
sources are restricting the market growth
|
Procure Complete Report (323 Pages PDF with Insights, Charts,
Tables, and Figures)
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The T-shape segment to maintain its leadership status
throughout the forecast period.
By design type, the T-shape segment held the highest market
share in 2022, accounting for more than two-fifths of the global
solar carport market revenue and is estimated to maintain its
leadership status throughout the forecast period.
The T-shape building provides plenty of shade and protection in
addition to holding more cars. The T-shaped structure makes it
simple for cars to enter and exit, which makes parking more
convenient for drivers. As a result, the solar carport industry is
experiencing a rise in the demand for such structures.
The double-row segment to maintain its leadership status
throughout the forecast period
By vehicle arrangement, the one-row segment held the highest
market share in 2022, accounting for around two-thirds of the
global solar carport market and is estimated to maintain its
leadership status throughout the forecast period. However, the
double-row segment is projected to manifest the highest CAGR of
8.42% from 2023 to 2032. Moreover, the simplicity and efficiency of
the carport with a one-row vehicle arrangement set it apart. This
versatile structure is the best solution for small parking lots as
it may be joined to existing buildings or stand alone. The
expansion of this market is driven by an increase in number of
residential applications, such as residential properties and
apartment buildings, adopting one-row vehicle arrangements.
The industrial segment to maintain its leadership status
throughout the forecast period
By application, the commercial segment held the highest market
share in 2022, accounting for more than two-fifths of the global
carport market and is estimated to maintain its leadership status
throughout the forecast period.
Solar carports are expected to be installed globally in shopping
centres, educational institutions, supermarkets, corporate
buildings, and EV charging stations during the forecast period. In
addition, commercial solar carports improve the company's green
credentials and offer free advertising space in addition to
improved parking for clients and staff.
Asia-Pacific to maintain its
dominance by 2032
By region, Asia-Pacific held
the highest market share in terms of revenue in 2022, accounting
for more than half of the global solar carport market revenue and
is likely to dominate the market during the forecast period. The
Asia-Pacific region's rapid
urbanization and infrastructural development are also anticipated
to fuel demand for solar carports in the upcoming years. In
addition, a lot of companies or organisations in the area are
embracing CSR (corporate social responsibility) activities that
include renewable energy solutions and sustainability aims, which
eventually support the market's expansion.
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@ https://www.alliedmarketresearch.com/connect-to-analyst/A09031
Leading Market Players: -
- Antai Solar
- Enerparc
- Ganges International
- Mahindra Solarize
- Positive Energy Solar
- Reenergy
- Schletter
- Himzen
- Quest Renewables, INC.
- Mahindra Solarize
The report provides a detailed analysis of these key players in
the global solar carport market. These players have adopted
different strategies such as new product launches, collaborations,
expansion, joint ventures, agreements, and others to increase their
market share and maintain dominant shares in different regions. The
report is valuable in highlighting business performance, operating
segments, product portfolio, and strategic moves of market players
to showcase the competitive scenario.
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