Research and Markets Report Forecasts Rapid Growth in Solar Carport Market’s Two-Row Segment

Research And Markets offers the “Solar Carport Market Size, Share & Trends Analysis Report,” projecting the global market to reach USD 961.6 million by 2030, growing at a 9.9% CAGR from 2023 to 2030. The surge in renewable energy focus and sustainability drives solar carport adoption, especially those integrating electric vehicle charging stations. Supportive government policies and incentives further fuel market growth.

Market expansion stems from the introduction of innovative solar-powered carport solutions worldwide. For example, Canyon Solar introduced a rapid-installation modular PV shade structure, claiming threefold installation speed compared to traditional systems and improved cost-effectiveness.

Government initiatives also drive market growth, like France’s mandate for solar panels in car parks with over 80 spaces, aiming to contribute 11 GW to the grid, equal to the output of 10 nuclear reactors.

The COVID-19 pandemic impacted the industry, causing delays in solar projects due to supply chain disruptions and fluctuating raw material costs. However, it amplified sustainability awareness, potentially prompting increased interest in renewable energy solutions like solar panel carports.

Report Highlights:

• T-shape solar carport structures dominate due to convenience, providing unobstructed parking and retrieval.
• Two-row arrangements in commercial spaces like offices, schools, and universities drive segment growth.
• Solar carports above 1 MW exhibit a high 10.5% CAGR, offering ample space for energy generation.
• Residential adoption of solar carports integrated with EV charging fosters a 10.6% CAGR.
• Asia Pacific leads growth, fueled by solar energy generation in India, China, Australia, Japan, and South Korea.