Solar Car Park Market set to quadruplein size within 5 years
“Solar Carport Market Size 2025“ ResearchReport Revealing a Comprehensive Analysis of Industry Trends, Growth, andOpportunities. Solar Carport Market growth drivers, restraints, opportunities,Porter’s five forces analysis, PEST analysis, value chain analysis, regulatorylandscape, technology landscape, patent analysis, market attractivenessanalysis by segments and North America, company market share analysis, andCOVID-19 impact analysis.
Solar Carport Market Size, Share &Industry Analysis, By Type (One-Row Vehicle Arrangement Carport, Two-RowVehicle Arrangement Carport, and Two-row Dual Slope Vehicle ArrangementCarport), By Capacity (Less than 500 kW, 500 kW to 1 MW, and Above 1 MW), ByDesign (T-frame Structures and V-frame Structures), By Application (Commercialand Others) and Regional Forecast, 2024-2032
The global solar carport market size wasvalued at USD 343.96 million in 2023. The market is projected to be worth USD 584.62million in 2024 and reach USD 1,479.55 million by 2030, exhibiting a CAGR of10.5% during the forecast period. The Solar Carport market in the U.S. isprojected to grow significantly, reaching an estimated value of USD 387.06million by 2030, driven by the growing adoption of electric vehicles andgovernment incentives to encourage adoption of solar power.
The Europe solar carport market size wasvalued at USD 107.05 million in 2023. The market is projected to grow from USD221.67 million in 2024 to USD 683.64 million by 2030.
Solar carport refers to a structure wherethe canopy of car parking spaces is covered using solar panels or modules toobtain solar energy. The need for renewable energy sources is growing, and thisinnovative technique could be beneficial in producing solar power. Solarcarport installations in parking lots can also result in additional revenuesources for parking lot owners.
Commercial solar carport owners can alsodevelop electrical vehicle (EV) charging stations, which can allow electricvehicle owners to charge their EVs at a nominal charge. Solar carportinstallations can support the rising demand for renewable energy.
The UK market is difficult to gauge butindustry observers anticipate a market size of at least £100m by 2029 and thiscould be much higher if the government supports this product area in itsClimate Action Plan, due to be published this year; which is a probabilitybased in its recent ‘call for information’.
Source: https://www.fortunebusinessinsights.com/europe-solar-carport-market-110432