According to new analysis from IHS Technology, revenues for the solar photovoltaic balance of system (BOS) market is forecast to grow at an average rate of 5% per year, reaching $21 billion in 2019.
China, India and other large markets in Asia will account for 44% of global BOS revenues in 2019, the report says, with many of these markets dominated by niche suppliers.
The Europe, Middle East and Africa (EMEA) region will reach 34% of revenues. The commercial market, which IHS forecasts will reach 11.5 GW in 2019, will lead growth in the EMEA region.
The BOS market for the Americas will comprise 21% in 2019, the report says.
The structural BOS market, which IHS defines as including ground-mount trackers and fixed-tilt and rooftop mounting systems, will account for 45% of the total global PV BOS market, reaching $9.3 billion in 2019. Within this category, rooftop mounting systems are forecast to grow 5% per year, due to strong global growth in both the residential and commercial rooftop sectors.
The electrical BOS market, composed of DC cabling, connectors, monitoring hardware and combiner boxes, will grow faster than the structural market, IHS says. Revenues are expected to reach just under $3 billion in 2019.
‘The Asian market is also highly attractive for BOS suppliers, especially in the ground-mount market, where local steel manufacturers are very active presently,’ says Cormac Gilligan, senior solar analyst for IHS Technology. ‘This creates a huge opportunity for experienced PV mounting suppliers from EMEA and the Americas to expand abroad.’
More information on the IHS report, ‘PV Balance of System Equipment – 2015,’ can be found here.