The new report by Expert Market Research titled, ‘Global Solar Carport Market Trends, Share, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global solar carport market, assessing the market based on its segments like type, application, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Solar Carport Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 509.3 million
• Forecast CAGR (2023-2028): 4.70%
• Forecast Market Size (2028): USD 670.9 million
North America is probably going to be one of the most significant solar carport markets in the following years. As the average system price of solar carports continues to drop, commercial solar developers are increasingly providing consumers with greater value in the form of larger project sizes and more significant electricity savings.
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Additionally, trends surrounding vertical integration to lower structural costs are anticipated to define market growth. The industry is expanding as more people become aware of solar energy’s benefits in nations like the United States. It is also projected that the growing production of electric vehicles would significantly contribute to the market expansion of solar carport in North America.
Solar Carport Industry Definition and Major Segments
Solar carports are a particular kind of carport that offers shade and protection for the vehicle. These units employ identical tools and techniques to ground-mounted solar panels. These are taller ground-mounted solar panels that are raised to fit a car below. Additionally, solar carports are made specifically to incorporate solar panels into its framework, serving the dual purpose of protecting the vehicle and generating clean energy.
Based on type, the market can be divided into:
• One Unit Carport
• Two Unit Carport
• Multi Carport
On the basis of application, the market can be classified into:
The major regions of the solar carport market are:
• North America
• Asia Pacific
• Latin America
• Middle East and
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Solar Carport Market Trends
The increased understanding of the value of solar energy is the main factor contributing to the expansion of the global market for solar carports. Additionally, the advantages offered by solar carports, such as increased flexibility, can be linked to market expansion. Solar carport electricity can be used for domestic uses, stored in batteries, and even converted into grid credits. Its production is comparable to that of other solar energy sources and the market is expanding as a result of this. Another element influencing the market’s expansion is the ability of a solar carport to be designed to optimise the positioning of solar panels.
Key Market Players
The major players in the global solar carport market report are:
- Nichiei Intec
- GC Story
- AG Japan
- Ecolohas Japan
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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