The global solar carport market was valued at $0.8 Billion in 2022, and is projected to reach $1.7 Billion by 2032, registering a CAGR of 8.1% from 2023 to 2032.
A solar carport is a type of parking facility that uses solar panels to generate electricity and shelter cars. The solar panels are fixed to the top of the carport's roof, where they collect sunlight and convert it into energy. The solar carport market is expanding due to the growing need for environmentally friendly transportation and sustainable and renewable energy sources.
Solar carports are advantageous as they protect and shelter automobiles while also saving energy costs and promoting sustainability by producing clean energy. They provide defense against a range of weather conditions, including snow, hail, rain, and strong sunshine, all of which have the potential to harm cars over time. By offering shade, they also help keep cars' interior temperatures lower during hot weather. Solar carports are flexible and adjustable to suit a range of locations and tastes as they are available in an assortment of sizes and designs. Owing to these advantages, solar carports have become more popular in both residential and commercial settings, which drives market expansion.
Solar carports have emerged as an innovative solution in response to the growing emphasis on renewable energy sources. These structures, featuring solar panels on their roofs, serve a dual purpose: generating electricity and providing shade and shelter for parked vehicles. This dual functionality aligns with the contemporary focus on sustainability and efficiency.
Urban areas, characterized by increasing population density, have seen a surge in the adoption of solar carports. Their versatility allows them to be integrated into various urban development projects, addressing the challenge of limited space availability. Whether installed in parking lots, on rooftops, or as standalone structures, solar carports contribute to optimizing space utilization while promoting renewable energy generation.
Furthermore, the rise of electric vehicles (EVs) has augmented the appeal of solar carports. These structures incorporate EV charging stations, offering a convenient and eco-friendly solution for vehicle owners. This integration underscores the evolving landscape of transportation infrastructure toward sustainability and clean energy adoption.
Governments across the globe build solar power facilities. For instance, the Abu Dhabi National Energy Company (Taqa)-led consortium and Masdar, a government organization, announced in July 2020 that the Emirates Water and Electricity Company (EWEC) would construct a 2-GW solar photovoltaic (PV) facility at Al Dhafra, Abu Dhabi. The goal of this project was to help the UAE meet its goal of obtaining about 44% of its electricity from renewable sources by the year 2050.
The global solar carport market was severely affected by the COVID-19 pandemic, which led to disturbances in the supply chain and production procedures. The dynamics of the market were impacted by fluctuating demand and economic uncertainty. Despite these obstacles, the market quickly rebounded due to the defense industry's increased investment in the purchase of solar PV for its solar carport.
The market is propelled by the numerous advances in technology that are being incorporated into solar products and components, offering substantial prospects for the industry's growth. For example, Princeton University researchers produced the first commercially feasible perovskite solar cells in June 2022. The creation of these cells requires less energy and is done at room temperature, which lowers production costs and helps solar PV manufacturing companies grow.
Solar carports are anticipated to be installed in shopping malls, schools, supermarkets, office buildings, and EV charging stations during the forecast period. Commercial solar carports also help businesses become more environmentally conscious by improving customer and employee parking and offering free advertising space. These advantages of solar carports for business use are anticipated to boost the market expansion.
The demand for renewable energy solutions is expanding as a result of greater awareness of the negative environmental effects of traditional energy sources. There is a growing trend of combining commercial solar carports with EV charging infrastructure as the use of electric vehicles (EVs) increases. This facilitates the shift to sustainable transportation by allowing businesses to offer convenient charging facilities for electric vehicle owners in addition to renewable energy for their operations. Commercial solar carports have higher initial installation costs than standard carports or parking structures. A sizable space is needed for solar carports in order to fit the parking spots and the solar panel array.
The solar carport market is segmented into design type, vehicle arrangement, application, and region. By design type, the market is categorized into V-Shape, T-Shape, L-Shape and Y-Shape, V-Frame, T-Frame, and Others. By vehicle arrangement, it is bifurcated into one row and double row. On the basis of application, the market is classified into commercial, residential, and industrial.
Region wise, the solar carport market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), Latin America (Brazil, Argentina and Rest of Latin America) and Middle East and Africa(Saudi Arabia, UAE, Israel, Africa and Rest of Middle East and Africa)..
Competitive analysis and profiles of the major global solar carport market players that have been provided in the report include Antai Solar, Enerparc, Ganges International, Mahindra Solarize, Positive Energy Solar, Reenergy, Schletter, Himzen, Quest Renewables, INC., and Mahindra Solarize. The key strategies adopted by the major players of the global market are product launch, mergers, and acquisitions.
A solar carport is a type of parking facility that uses solar panels to generate electricity and shelter cars. The solar panels are fixed to the top of the carport's roof, where they collect sunlight and convert it into energy. The solar carport market is expanding due to the growing need for environmentally friendly transportation and sustainable and renewable energy sources.
Solar carports are advantageous as they protect and shelter automobiles while also saving energy costs and promoting sustainability by producing clean energy. They provide defense against a range of weather conditions, including snow, hail, rain, and strong sunshine, all of which have the potential to harm cars over time. By offering shade, they also help keep cars' interior temperatures lower during hot weather. Solar carports are flexible and adjustable to suit a range of locations and tastes as they are available in an assortment of sizes and designs. Owing to these advantages, solar carports have become more popular in both residential and commercial settings, which drives market expansion.
Solar carports have emerged as an innovative solution in response to the growing emphasis on renewable energy sources. These structures, featuring solar panels on their roofs, serve a dual purpose: generating electricity and providing shade and shelter for parked vehicles. This dual functionality aligns with the contemporary focus on sustainability and efficiency.
Urban areas, characterized by increasing population density, have seen a surge in the adoption of solar carports. Their versatility allows them to be integrated into various urban development projects, addressing the challenge of limited space availability. Whether installed in parking lots, on rooftops, or as standalone structures, solar carports contribute to optimizing space utilization while promoting renewable energy generation.
Furthermore, the rise of electric vehicles (EVs) has augmented the appeal of solar carports. These structures incorporate EV charging stations, offering a convenient and eco-friendly solution for vehicle owners. This integration underscores the evolving landscape of transportation infrastructure toward sustainability and clean energy adoption.
Governments across the globe build solar power facilities. For instance, the Abu Dhabi National Energy Company (Taqa)-led consortium and Masdar, a government organization, announced in July 2020 that the Emirates Water and Electricity Company (EWEC) would construct a 2-GW solar photovoltaic (PV) facility at Al Dhafra, Abu Dhabi. The goal of this project was to help the UAE meet its goal of obtaining about 44% of its electricity from renewable sources by the year 2050.
The global solar carport market was severely affected by the COVID-19 pandemic, which led to disturbances in the supply chain and production procedures. The dynamics of the market were impacted by fluctuating demand and economic uncertainty. Despite these obstacles, the market quickly rebounded due to the defense industry's increased investment in the purchase of solar PV for its solar carport.
The market is propelled by the numerous advances in technology that are being incorporated into solar products and components, offering substantial prospects for the industry's growth. For example, Princeton University researchers produced the first commercially feasible perovskite solar cells in June 2022. The creation of these cells requires less energy and is done at room temperature, which lowers production costs and helps solar PV manufacturing companies grow.
Solar carports are anticipated to be installed in shopping malls, schools, supermarkets, office buildings, and EV charging stations during the forecast period. Commercial solar carports also help businesses become more environmentally conscious by improving customer and employee parking and offering free advertising space. These advantages of solar carports for business use are anticipated to boost the market expansion.
The demand for renewable energy solutions is expanding as a result of greater awareness of the negative environmental effects of traditional energy sources. There is a growing trend of combining commercial solar carports with EV charging infrastructure as the use of electric vehicles (EVs) increases. This facilitates the shift to sustainable transportation by allowing businesses to offer convenient charging facilities for electric vehicle owners in addition to renewable energy for their operations. Commercial solar carports have higher initial installation costs than standard carports or parking structures. A sizable space is needed for solar carports in order to fit the parking spots and the solar panel array.
The solar carport market is segmented into design type, vehicle arrangement, application, and region. By design type, the market is categorized into V-Shape, T-Shape, L-Shape and Y-Shape, V-Frame, T-Frame, and Others. By vehicle arrangement, it is bifurcated into one row and double row. On the basis of application, the market is classified into commercial, residential, and industrial.
Region wise, the solar carport market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), Latin America (Brazil, Argentina and Rest of Latin America) and Middle East and Africa(Saudi Arabia, UAE, Israel, Africa and Rest of Middle East and Africa)..
Competitive analysis and profiles of the major global solar carport market players that have been provided in the report include Antai Solar, Enerparc, Ganges International, Mahindra Solarize, Positive Energy Solar, Reenergy, Schletter, Himzen, Quest Renewables, INC., and Mahindra Solarize. The key strategies adopted by the major players of the global market are product launch, mergers, and acquisitions.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the solar carport market analysis from 2022 to 2032 to identify the prevailing solar carport market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the solar carport market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global solar carport market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Design Type
- T-Shape
- V-Shape
- L-Shape
- Y-Shape
By Vehicle Arrangement
- One-Row
- Double-Row
By Application
- Commercial
- Residential
- Industrial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Africa
- Rest of Middle East And Africa
- Enerparc
- Ganges International
- Mahindra Solarize
- Positive Energy Solar
- Reenergy
- Schletter
- Himzen
- Quest Renewables, INC.
- Antai Solar
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SOLAR CARPORT MARKET, BY DESIGN TYPE
CHAPTER 5: SOLAR CARPORT MARKET, BY VEHICLE ARRANGEMENT
CHAPTER 6: SOLAR CARPORT MARKET, BY APPLICATION
CHAPTER 7: SOLAR CARPORT MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
Key Market Players in the Solar Carport Market include:- Enerparc
- Ganges International
- Mahindra Solarize
- Positive Energy Solar
- Reenergy
- Schletter
- Himzen
- Quest Renewables Inc.
- Antai Solar
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 323 |
| Published | April 2024 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 0.8 Billion |
| Forecasted Market Value ( USD | $ 1.7 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
