The Global Solar Canopy Carport Market study with 132+ market data Tables, Pie charts & Figures is now released by HTF MI. The research assessment of the Market is designed to analyse futuristic trends, growth factors, industry opinions, and industry-validated market facts to forecast till 2030. The market Study is segmented by key a region that is accelerating the marketization. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. Some of the players studied are SunPower, Distributed Solar Development, LLC, RBI Solar, Ameresco, Inovateus Solar, LightWave Solar, Independent Power System, PowerFlex, RenEnergy Ltd, Staten Solar, CARPORT STRUCTURES CORP, Orion carport, Lumos Solar, Big Dog Solar Energy.
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According to HTF Market Intelligence, the global Solar Canopy Carport market is valued at USD 374.16 Million in 2023 and estimated to reach a revenue of USD 1063.06 Million by 2030, with a CAGR of 19.1% from 2023 to 2030.
Definition:
Solar carports are ground-mounted canopy structures that extend over parking spots. The canopy roof section is slightly inclined – providing an ideal platform for solar panels to be seamlessly attached, which also contributes to the structure’s beauty. The slanted roof not only optimises the angle of the solar panels for energy generation, but it also provides natural drainage for precipitation, which is gathered by guttering and routed away. The electricity generated by the solar panels on the carports is instantly ready for use on-site.
Market Trends:
Introduction of Solar Carports to Convert Parking Lots into Sources of Clean Energy with Self-Consumption Photovoltaic Systems
Market Drivers:
Rise in Demand for Electric Vehicle
Growing Demand due to High Fuel Prices
Increase in Demand for Residential Use
Market Opportunities:
Rising Utility Costs Creates an Opportunity for Clean Energy Sources
Growing Adaption of Renewable Energy due to Extension of Investment Tax Credit (ITC)
Increasing Government Sustainability Programs
Market Leaders & Development Strategies
Installing a solar carport can reduce utility bills by up to 75%, help the environment, and increase home value. The average electricity bill in the United States is $117.46, according to the U.S. Energy Information Administration (eia.gov). In addition, they used an average of 893kWh per month. That works out to 29kWh per day. This means that a solar carport could meet 75% of the average American’s electrical needs. This will save you $88 per month on your electricity bill (on average). As a result, solar panels are quickly becoming the preferred alternative energy source.
Global Solar Canopy Carport Market Competitive Analysis
Know your current market situation! Not just new products but ongoing products are also essential to analyse due to ever-changing market dynamics. The study allows marketers to understand consumer trends and segment analysis where they can face a rapid market share drop. Figure out who really the competition is in the marketplace, get to know market share analysis, market position, % Market Share, and segmented revenue.
Players Included in Research Coverage: SunPower, Distributed Solar Development, LLC, RBI Solar, Ameresco, Inovateus Solar, LightWave Solar, Independent Power System, PowerFlex, RenEnergy Ltd, Staten Solar, CARPORT STRUCTURES CORP, Orion carport, Lumos Solar, Big Dog Solar Energy
Additionally, Past Global Solar Canopy Carport Market data breakdown, Market Entropy to understand development activity and Patent Analysis*, Competitors Swot Analysis, Product Specifications, and Peer Group Analysis including financial metrics are covered.
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Segmentation and Targeting
Essential demographic, geographic, psychographic, and behavioural information about business segments in the Solar Canopy Carport market is targeted to aid in determining the features the company should encompass in order to fit into the business’s requirements. For the Consumer-based market – the study is also classified with Market Maker information in order to understand better who the clients are, their buying behaviour, and patterns.
Solar Canopy Carport Product Types In-Depth: Mono-pitch, Duo-Pitch, Portal-Frame Canopy
Solar Canopy Carport Major Applications/End users: Commercial, Residential
Solar Canopy Carport Major Geographical First Level Segmentation:
• APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)
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Research Objectives:
– Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
– To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks).
– To analyse the with respect to individual future prospects, growth trends and their involvement to the total market.
– To analyse reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
– To deliberately profile the key players and systematically examine their growth strategies.
FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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