Fixed Tilt Solar PV Market-Global Industry Analysis and Forecast (2024-2030)

Fixed Tilt Solar PV Market size was valued at US$ 0.81 Bn. in 2023 and the total revenue is expected to grow at 11.92% through 2024 to 2030, reaching nearly US$ 1.79 Bn.
Fixed Tilt Solar PV Market Overview:
The Fixed Tilt Solar PV Market was valued at USD 0.81 billion in 2023, and is predicted to grow at a CAGR of 11.92 percent to USD 1.79 billion by 2030. The market is studied by segments like Technology (crystalline silicone, thin film, and others), Application (on-grid and off-grid) and Region (North America, Europe, Asia-Pacific, and Rest of the World). The report consists of the Trend, Forecast, Competitive Analysis, and Growth Opportunities of the market.To know about the Research Methodology :- Request Free Sample Report

Fixed tilt solar PV systems tilt the system at a specific angle to allow for best solar power capture. This type of solar PV system has seen widespread use in utility-scale PV in both developed and developing countries in recent years. The majority of those erected in the United States were at an angle of 20 to 30 degrees. The growing use of solar PV systems in the generation of renewable energy in various nations across the world has accelerated the growth of the worldwide market. The global fixed tilt type solar PV market will benefit from relentless attempts to increase the performance and efficiency of solar PV systems. During the period 2024–2030, the market will be defined by large-scale solar power plant deployment in various regions of the globe.

For the forecast period of 2024 to 2030, the report provides a complete analysis that reflects today's market realities and future market prospects. To provide a comprehensive perspective of the market, the research segments and analyses it in great detail. The key data and observations offered in the study can help market participants and investors identify low-hanging fruit in the market and build growth strategies.
COVID-19 Impact on Fixed Tilt Solar PV Market:
Several governments throughout the world have ordered strict lockdowns to prevent the spread of coronavirus disease. Individual movement and economic operations involving products and services have been halted due to lockdowns. As per the International Energy Agency (IEA), each month of lockdown lowered electricity demand by 20% on average, or more than 1.5 percent on an annual basis. As a result, the fixed tilt solar PV business is being hampered by falling electricity demand. However, things are slowly opening up and the restrictions are lenient which will help recoup the anticipated market size of the Fixed tilt solar PV in the coming years.
Fixed Tilt Solar PV Market Dynamics:
The growing market for solar energy production with PV panels has given the worldwide market a lot of traction. The pressing need to increase renewable energy in the global energy balance has been a potential driver of the market's expansion.

New solar PV projects and strengthening output in large projects in industrialized countries are attracting significant investment from renewable energy investors. Several of these changes have occurred in Massachusetts. Ground-mounted fixed-tilt solar PV is used in many of these installations.

The global market has recently seen great potential in a number of growing regions. Utility firms have begun to update solar PV projects, bringing them to the 'Ready-to-Build' level. Etrion Corporation, a utility firm based in Switzerland, recently provided an update on the Niigata solar project in Japan. Subject to three years of development, the fixed-tilt solar PV power facility is projected to begin operations in 2022.

The solar independent power producer has reported (April 2021) that it is nearing completion of civil engineering work as well as all engineering, procurement, and construction contracts. The news points to new opportunities in the worldwide fixed tilt solar PV sector. Construction on the 45 Megawatt project is expected to begin in July 2021. The Niigata project is expected to almost double its capacity by 2022 after the relevant permissions are obtained. This will generate new revenue in Japan and open up lucrative opportunities in the market as a whole.

Stringent environmental rules on the deployment of renewable energy have given the fixed tilt solar PV business a huge boost. Prices of solar PV cells have dropped in several places in recent years, boosting solar power production and, as a result, the global market. The return on investment for PV project owners has been hampered, however, due to the continual reduction in PV panel prices. As a result, single-axis trackers are gaining popularity. Nonetheless, improvements in electrical and mechanical design will improve solar PV performance, increasing demand for the fixed tilt solar PV.
Fixed Tilt Solar PV Market Segment Analysis:
Based on technology, the market is classified into crystalline silicone, thin film, and others. Due to rising installations of the residential solar equipment, the crystalline silicone category is likely to hold the greatest share of the market over the forecast period. However, due to the reducing cost & high efficiency of the equipment, the thin film segment is predicted to increase at the quickest rate throughout the projection period.

Based on application, the  market is classified into on-grid and off-grid. The on-grid sector had the biggest market share in 2023, but due to increased installations in remote locations, the off-grid segment is predicted to grow at the fastest CAGR over the forecast period.
Regional Insights:
Due to massive investments in solar power production in the region, Asia-Pacific has the largest share of the market. Rising environmental issues have caused Asia-Pacific countries to rapidly adopt solar energy. Furthermore, some governments intend to phase out electricity generation from the conventional sources like coal and nuclear power. The rising degree of public knowledge about the benefits of renewable energy is a significant boost for the fixed tilt solar PV sector. India, one of Asia-largest Pacific's solar markets, plans to install 100 Giga Watts of solar power system infrastructure by the end of 2023.

In Europe, solar power accounts for a significant portion of the energy mix. Solar power provided 3.6 percent of the total electricity generated in Europe in 2023. According to Bloomberg NEF, by 2040, this contribution will have increased to 20%. As a result, the market in Europe is expected to grow throughout the forecast period due to an increase in electricity generation using solar power. In the year 2023, there was a 1.3 percent decrease in energy emissions across Europe. Furthermore, several European countries have made the transition to adopting lower-carbon energy sources. During the last few years, the European region's energy import dependency has been between 53 and 55 percent.

To understand the Fixed Tilt Solar PV industry and study the market trends. Focusing on the regional market and other segmentations, knowing the drivers and challenges of the same. Understanding the market segment geographically to gauge the growth potential.

The report includes analytical models like the Porter’s Five Forces, which helps in understanding the operating environment of the competition in the market and thereby study the stakeholders to derive an efficient strategy; and PESTLE Analysis to gain a macro perspective of the Fixed Tilt Solar PV Industry in terms of political aspects like Government stability, policies, trade regulation and economic aspects like market trends, taxes and inflation. It also provides the effect of environmental factors and influence of social and legal aspects on the market.
Fixed Tilt Solar PV Market Scope: Inquiry Before Buying



Global Fixed Tilt Solar PV Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $  0.81 Bn.


Forecast Period 2024 to 2030 CAGR:
11.92%
Market Size in 2030:
US $ 1.79 Bn.


 Segments Covered:
by Technology
Crystalline Silicone
Thin Film
Others


by Application
On-Grid
Off-Grid



By Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Fixed Tilt Solar PV Market Key Players
1. Wuxi Suntech Power Co. Ltd. (Japan)
2. First Solar Inc. (USA)
3. Juwi Solar Inc. (Germany)
4. SolarCity Corporation (USA)
5. Activ Solar GmbH (Austria)
6. Yingli Solar (China)
7. Trina Solar Limited (China)
8. Sharp Solar Energy Solutions Group (Germany)
9. Canadian Solar Inc. (Canada)
10. JinkoSolar Holding Co. Ltd. (China)
11. Engie Solar (France)
12. Unirac (USA)
13. Solar FlexRack (USA)
14. Suntech (China)
15. Solar Frontier (Japan)

Frequently Asked Questions:

1] What segments are covered in the Fixed Tilt Solar PV Market report?
Ans. The segments of Application, Technology and Region are covered in the Fixed Tilt Solar PV Market report.

2] Which Region is expected to hold the highest share in the Fixed Tilt Solar PV Market?
Ans. The APAC region is expected to hold the highest share in the Fixed Tilt Solar PV Market.

3] What is the market size of the Fixed Tilt Solar PV Market by 2030?
Ans. The market size of the Fixed Tilt Solar PV Market is expected to reach USD 1.79 Bn by 2030.

4] What is the forecast period for the Fixed Tilt Solar PV Market?
Ans. The forecast period for the Fixed Tilt Solar PV Market is 2024-2030.

5] What was the market size of the Fixed Tilt Solar PV Market in 2023?
Ans. The market size of the Fixed Tilt Solar PV Market in 2023 was USD 0.81 Bn.