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

North America Commercial Solar Carport Market Overview:

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 major countries in North America i.e., the US, Canada, and Mexico. For each segment, the market sizing and forecasts have been done based on value (in USD Million).

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North America Commercial Solar Carport Market Dynamics:

Growing adoption of clean energy sources to increase growth in North America:

The Smart Renewables and Electrification Pathways Program (SERPs) supports building Canada's low-emissions energy future and a renewable, electrified economy through projects that focus on non-emitting, cleaner energy technologies, such as storage, and modernizing electricity system operations. Renewable energy sources currently provide about 18.9 percent of Canada's total primary energy supply. The US and Canada are set to expand their clean energy cooperation to accelerate the transition to net-zero emissions by 2050, government agencies said. The initiative will also seek to strengthen the countries' intertwined electricity grids at a time when American power imports from its northern neighbor continue to increase—the majority of the electricity sourced from renewable generation.

Also, there is a significant growth in the adoption of solar carports. According to the Solar Energy Industries Association (2019), the U.S. has touched 71.3 Gigawatts (GW) of total installed capacity, which provides enough power to meet the needs of 14.5 million American homes. Solar power is more affordable, accessible, and predominant in the United States than ever before. From just 0.35 GW in 2008, U.S. solar power capacity has grown to an estimated 97.2 gigawatts (GW) today. This is enough to power the equivalent of 18 million average American homes. Today, over 3% of U.S. electricity comes from solar energy in the form of solar photovoltaic (PV) and concentrating solar-thermal power (CSP).

Since 2015, the average cost of solar PV panels has dropped nearly 70%. Markets for solar energy are maturing rapidly around the country since solar electricity is now economically competitive with conventional energy sources in most states. From January through December 2021, utility-scale solar power generated 115.7 terawatt-hours (TWh), or 2.79% of all generated electrical energy in the United States. During the same period total solar generation, including estimated small-scale photovoltaic generation, was 163.7 (TWh). In 2021, more than 230,000 Americans were employed in the solar industry. These factors are rising the demand for the growth of the Commercial Solar Carports Market through the forecast period.

The rise in the adoption of the Electric vehicles in the North American region is fuelling the growth:

The increasing production of electric cars is also anticipated to be a significant factor boosting the market growth of solar carports in North America. Market Volume of Electric Vehicles (EV) Production in North America reached 681,251 in 2021. This represents an increase of 7.9% as compared to 631,560 in 2021. The indicator recorded a historical growth (CAGR) of 22.8% between 2018 and 2021. As Electric vehicles have very low maintenance costs because they don't have as many moving parts as an internal combustion vehicle. The servicing requirements for electric vehicles are lesser than the conventional petrol or diesel vehicles. Therefore, the yearly cost of running an electric vehicle is significantly low. These are also creating an upcoming significant opportunity for the growth of the demand for electricity which further lead to growth in the demand for the growth of the demand for the Commercial solar Carport Market through the forecast period.

North America Commercial Solar Carport Market Segment Analysis:

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 held largest market share accounting for xx% market share in 2023, and is expected to grow at a CAGR of XX% during the forecast period. Some countries across the globe are providing grant programs for the commercial building & construction sector to produce renewable electricity and increase its energy mix in the overall energy generation.

The objective of the report is to present a comprehensive analysis of the North America Commercial Solar Carport Market to the stakeholders in the industry. The report provides trends that are most dominant in the North America 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 North America 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 North America 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 North America 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 North America 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 are existing, who they are, and how their product quality is in the North American Commercial Solar Carport Market. The report also analyses if the North America 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 North America Commercial Solar Carport Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the North America Commercial Solar Carport Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the North America Commercial Solar Carport Market is aided by legal factors.

North America Commercial Solar Carport Market Key Players:  

• Orion Carport
• Solar Carports Direct
• Baja Carports
• Powers Solar Frames, LLC
• Quest Renewables
• M Bar C Construction
• Carport Structures Corporation
• Polar Racking Inc.
• Advanced Green Technologies
• Sun Action Trackers LLC