Solar Carport Market Projected to Reach $1.7 Billion by 2032
A report by Allied Market Research forecasts the global solar carport market will grow at a CAGR of 8.1% over the next decade as institutional and residential adoption rises.
The global solar carport market, valued at $813 million in 2022, is on track to reach $1.7 billion by 2032. Analysts at Allied Market Research project a compound annual growth rate of 8.1% as infrastructure projects increasingly integrate renewable energy generation with parking facilities.
Growth is driven by institutional efforts to achieve carbon neutrality, such as large-scale installations at universities and corporate campuses. Private homeowners and government agencies are also contributing to demand, particularly as electric vehicle ownership increases the utility of on-site solar charging solutions. Developments in bifacial panel technology and large-capacity storage systems continue to influence the sector’s evolution.
While the market includes various designs, such as V, T, L, and Y-shapes, commercial and industrial applications remain significant drivers. The report suggests that continued investment in North American and international infrastructure projects will be central to this upward trend through the 2032 forecast period.