Commercial Solar Carport Market: Global Industry Analysis and Forecast (2024-2030)

Commercial Solar Carport Market Definition:

A Solar carport is a shaded structure with built-in solar panels that house and protects your vehicle from the elements. The structure is usually built of stainless steel and rests on a concrete foundation. The solar panels are attached to the structure’s top, forming a solar panel system. Solar carports are a type of solar canopy that is a subclass of solar canopies. Solar canopies, also known as solar pergolas, are a type of solar system that provides shade. They provide shade specifically for parked autos and other motor vehicles.

 

Further, the Commercial Solar Carport market is segmented by Type, capacity, design, and geography. Based on Type, the Commercial Solar Carport market is segmented into a One-row vehicle arrangement carport, Two-row vehicle arrangement carport, and Two-row dual-slope vehicle arrangement carport. Based on the capacity, the Commercial Solar Carport market is segmented into less than 500 kW, 500 kW to 1 MW, and Above 1 MW. Based on the design, the Commercial Solar Carport market is segmented into V-frame structures and T-Frame structures. By geography, the market covers the following regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done based on value (in USD Billion).

 

 

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Commercial Solar Carport Market Dynamics:

Efficient Space Usage:

No more area is required to create a carport; instead, an existing space can be utilized to boost productivity and comfort for employees, customers, and visitors. A carport can shield vehicles from the sun, preventing overheating, it also is useful during rains and storms. Solar carports can also have a positive impact on the fuel economy of the car by providing shade to prevent cars from scorching in the sun. Moreover, there is inherent value in the carport as an architectural fixture that enhances the business’s-built environment, which offers benefits not only for patrons but also for employees. Their other factors are Cost-saving. Solar carports, like rooftop and ground-mount solar systems, decrease energy costs, consequential in significant savings for companies and residential structures. These Solar carports help businesses and residents save money by lowering their energy expenses and stabilizing their revenue.

 

Easy to Maintain Comfort:

Some other factors that are associated with the Commercial Solar Carport that are increasing the demand in the market are such as Ease in maintenance, Protection, and Better Power Generation.  In terms of service and weather difficulties, solar carports are much easier to maintain. Installation of the commercial solar carports makes it easier to maintain a parking lot since they can channel rain and snow away from the vehicles. It can also decrease the quantity of ice on the lot, this makes navigation safer for the drivers. If the solar panels ever require maintenance, they are very easy to reach and do not take much effort to maintain. Solar carports provide not just solar energy to the house or business, but also a secure parking spot for their automobiles. The cool shades protect the car from the heat in extreme weather climates, possibly lowering petrol costs. In addition to providing shade for your vehicle, they can also assist in the collection of rainwater.

 

Another advantage of a solar carport over a standard solar panel system is the angle of installation. The angle at which solar panels are installed has a significant impact on the amount of sunshine exposure, which influences energy output. There is a limit to how far you can tilt the panels or even the direction in which they are fastened for roof installations. Solar carports, on the other hand, are adaptable and may be built in a way that maximizes exposure and energy output.

 

Some of the factors that can limit the growth of the Commercial Solar Carport Market:

The initial cost associated with the Commercial Solar Carport is fairly higher. This includes paying for solar panels, inverter, batteries, wiring, and installation. Nevertheless, solar technologies are constantly developing, so it is safe to assume that prices will go down in the future. Although solar energy can still be collected during cloudy and rainy days, the efficiency of the solar system drops. Solar panels are dependent on sunlight to effectively gather solar energy. Therefore, these are some of the factors that are limiting the growth of the Commercial Solar Carport Market through the forecast period.

 

Commercial Solar Carport Market Segment Analysis:

By Type, the Commercial Solar Carport Market is segmented into a One-row vehicle arrangement carport, Two-row vehicle arrangement carport, and Two-row dual-slope vehicle arrangement carport. Among these, the Two-row dual-slope vehicle arrangement carport segment has dominated the largest market share accounting for XX% in 2023, and is expected to grow at a CAGR of 3.8% during the forecast period. As this structure is simple and highly effective, especially for commercial purposes. It also requires lesser space and lesser materials for parking more vehicles.

 

 

By capacity, the Commercial Solar Carport Market is segregated into less than 500 kW, 500 kW to 1 MW, and Above 1 MW. Among these, the Above 1 MW segment has dominated the largest market share accounting for XX% in 2023, and is expected to grow at a CAGR of 3.8% during the forecast period. Several countries across the globe are providing subsidy programs for the commercial building & construction sector to generate renewable electricity and increase its energy mix in the overall energy generation. Also, above 1 MW is the fastest-growing segment in the commercial market during the forecast period. This is because of the growing installation of solar carports across many commercial buildings for their internal electricity needs and to save corporate taxes.

 

Commercial Solar Carport Market Regional Insights:

The North American region held the largest market share accounting for XX% in 2023. This is because the gradually rising adoption of clean energy sources is predicted to favor the region’s Commercial Solar Carport growth. Canada and the U.S. embrace the presence of several key market players, which are expected to further complement the region’s market expansion.

 

The Asia Pacific region is expected to witness significant growth at a CAGR of XX% in 2023 through the forecast period. This is because of the soaring electric vehicle projects and swelling numbers of solar carport projects across nations such as Singapore, India, and China. These factors are leading to the growth of the Commercial Solar Carport Market through the forecast period.

 

Commercial Solar Carport Market Key Players Insights:

The market is characterized by the existence of several well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the global market, key players in the market, particularly in North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Global Commercial Solar Carport market to the stakeholders in the industry. The report provides trends that are most dominant in the Global Commercial Solar Carport market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Global Commercial Solar Carport Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Global Commercial Solar Carport market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Global Commercial Solar Carport market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Global Commercial Solar Carport market.

 

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Global Commercial Solar Carport market. The report also analyses if the Global Commercial Solar Carport market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Global Commercial Solar Carport market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Commercial Solar Carport market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Global Commercial Solar Carport market is aided by legal factors.

 

Commercial Solar Carport Market Scope:

Commercial Solar Carport Market
Market Size in 2023	USD 2.41 Bn.
Market Size in 2030	USD 4.50 Bn.
CAGR (2024-2030)	9.3%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Type Two-row dual-slope vehicle arrangement carport Two-row vehicle arrangement carport One-row vehicle arrangement carport
	By capacity above 1 MW 500 kW to 1 MW less than 500 Kw
	By Design V-frame structures T-frame structures
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Commercial Solar Carport Market Key Players: 

•  SunPower Corporation (U.S.)
• Tata Power (India)
• FlexiSolar (U.K.)
•  Schletter (Germany)
•  Antai Technology Co. Ltd. (China)
•  Kokko Shisetsu Kogyo Co., Ltd (Japan
• Quest Renewables Inc. (U.S.)
• Cenergy Power (U.S.)
• Xiamen Mibet New Energy Co., Ltd (China)
• Positive Energy Solar (New Mexico)
• EvoEnergy (U.K)
• CHIKOUSA (U.S.)