Europe Residential Solar Carport Market Size Set to Grow at Steady CAGR of 4.5% During the Forecast Period

Published | 17 February 2023

Europe residential solar carport market is gaining traction because of the growing environmental concerns, rising acceptance of renewable energy, and governments’ supportive incentives and policies.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Europe residential solar carport market size to grow at a steady CAGR of 4.54% during the forecast period between 2023 and 2029. The growing impact of Europe's energy crisis and the quick transition to green and sustainable energy sources are key growth drivers for the residential solar carport industry in Europe. The governments of many European nations are providing financial help and other forms of support to encourage the use of solar energy across the continent. In Europe, the use of solar energy is generally being hampered by the lack of space in residential areas. As a result, the household solar carport is becoming a practical choice for a more environmentally friendly future.

Europe Residential Solar Carport Market – Overview

Solar carports are canopies that are attached to the ground and extend over parking spaces. The canopy roof area's modest incline provides the ideal mounting surface for solar panels, which improves the structure's appearance. The energy cost of an average residential structure might be reduced or perhaps eliminated with the help of solar carports. Solar panels may be installed on carports in sufficient square footage to provide a sizable quantity of electricity for a house. Additionally, they are also efficient in reducing the CO2 output as well as enhancing CSR and green residentials.

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Europe Residential Solar Carport Market – By Design

Based on the design, Europe residential solar carport market is segmented into cantilever design and w-framed design. The cantilever design segment holds a higher market share. A solar carport in the cantilever form is particularly cost effective and can accommodate standard solar PV panels. It may also be accessorized to include everything needed for vehicle charging stations, battery storage, and solar-powered charging outlets. The demand for single cantilevers is prominent in Europe, as it combines economical construction with effective energy generation.

Impact of COVID-19 on Europe Residential Solar Carport Market

The unprecedented COVID-19 pandemic substantially slowed the growth of Europe residential solar carport market. Commercial operations were temporarily suspended to stop the virus from spreading as the European countries were burdened by the growing number of infected patients. Due to the disturbance in the solar carport's supply chain, the market's expansion was hampered. Additionally, governmental and private investment in the energy sector decreased and switched to the growth of the healthcare industry, which also hindered the development of residential solar carports in Europe. However, as the emphasis on sustainable development grows, the market is anticipated to thrive in the post-pandemic period.

Competitive Landscape

Major players operating in the Europe residential solar carport market include Solarcentury, Fronius, SolarEdge, Enphase Energy, SMA Solar Technology, JinkoSolar, Canadian Solar, Trina Solar, Yingli Solar, Hanwha Q CELLS, LG Electronics, SolarWorld, SunPower, First Solar, Aleo Solar, Conergy, Motech Industries, Suntech Power, REC Solar, and Solaria Energía y Medio Ambiente. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the Europe Residential Solar Carport Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Europe Residential Solar Carport Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Europe Residential Solar Carport Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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