Overview of the North America Commercial Solar Carport Market
The North America Commercial Solar Carport Market was valued at USD 64.64 million in 2023 and is projected to grow at a CAGR of 3.8% during the forecast period. Solar carports are innovative structures that integrate solar panel systems into shaded canopies, providing protection for vehicles while generating renewable energy. These carports are typically constructed from stainless steel and rest on concrete foundations, featuring solar panels mounted on top to capture sunlight efficiently.
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Market Dynamics
Growing Adoption of Clean Energy
The shift towards renewable energy sources is a significant driver for the commercial solar carport market in North America. Initiatives like the Smart Renewables and Electrification Pathways Program (SERPs) in Canada are pivotal in supporting a low-emissions energy future. As renewable sources contribute approximately 18.9% of Canada’s total primary energy supply, both the U.S. and Canada are ramping up efforts to enhance their electricity grids and increase reliance on renewable energy.
The Solar Energy Industries Association reported that the U.S. solar capacity reached 71.3 GW in 2019, enough to power 14.5 million homes. This growth is indicative of a broader trend where solar power is becoming more accessible and economically viable, with costs for solar PV panels dropping by nearly 70% since 2015.
Rise of Electric Vehicles (EVs)
The surge in electric vehicle production is another factor propelling the demand for solar carports. In 2021, the North American EV production volume reached 681,251 units, marking a 7.9% increase from the previous year. As electric vehicles have lower maintenance costs and demand for charging infrastructure grows, solar carports provide an ideal solution by offering shade and power generation at EV charging stations.
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Market Segmentation
The North America Commercial Solar Carport Market is segmented by:
- Type:
- One-row vehicle arrangement carport
- Two-row vehicle arrangement carport
- Two-row dual-slope vehicle arrangement carport
- Capacity:
- Less than 500 kW
- 500 kW to 1 MW
- Above 1 MW
- Design:
- V-frame structures
- T-frame structures
- Geography:
- United States
- Canada
- Mexico
Among these segments, the Above 1 MW capacity segment held the largest market share in 2023 and is expected to continue its growth trajectory.
Competitive Landscape
Key players in the North America Commercial Solar Carport Market include:
- Orion Carport
- Solar Carports Direct
- Baja Carports
- Powers Solar Frames, LLC
- Quest Renewables
- M Bar C Construction
- Carport Structures Corporation
- Polar Racking Inc.
- Advanced Green Technologies
- Sun Action Trackers LLC
These companies are focused on developing innovative solar carport solutions, enhancing their market presence through strategic partnerships and technological advancements.
Conclusion
The North America Commercial Solar Carport Market is poised for growth driven by the increasing adoption of renewable energy and electric vehicles. As stakeholders seek sustainable solutions to energy generation and vehicle protection, solar carports present a compelling opportunity for market expansion. Understanding the dynamics of this market will be crucial for stakeholders aiming to invest or innovate in the solar infrastructure sector.
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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