Against the backdrop of global energy transition and continuously rising PV installations, 2023 witnessed explosive growth in market demand and a dual leap in product technology for galvanized steel solar mounts — the “skeleton” of photovoltaic power stations. Fluctuations in steel prices, challenges from international trade barriers, and the emergence of new materials together shaped the industry landscape for the year.

I. Market Size: PV Installation Demand Ignites the Mounts Market

In 2023, the continued rapid growth of global PV新增 installations directly drove the prosperity of the solar mounts market. According to data from multiple research institutions, the global PV mounting system market size reached between US$15 billion and US$22.8 billion in 2023, and is expected to expand at a compound annual growth rate (CAGR) of 6% to 12% through 2032. Looking at specific segments, the solar module mounting market was valued at approximately US$1.5 billion in 2023 and is projected to reach US$3.8 billion by 2032. The Chinese market also showed strong performance, with its expected market size approaching RMB 40 billion.

From a global steel demand perspective, between 2023 and 2027, average annual new PV installations worldwide are expected to reach 406 GW, corresponding to a new steel demand of up to 10.284 million tonnes. This huge demand for steel directly drove the vigorous development of the galvanized steel mounting industrial chain.

II. Technological Innovation: New Coating Materials Become Industry Focus

In 2023, the galvanized steel mounting industry achieved several significant breakthroughs in material technology, with the promotion of zinc-aluminum-magnesium alloy coating technology attracting particular attention.

Zinc-Aluminum-Magnesium Alloy Leads Material Upgrading

Although traditional hot-dip galvanized mounts offer good corrosion resistance, they suffer from issues such as thin coatings, easy peeling, and high maintenance costs. In 2023, multiple steel companies launched zinc-aluminum-magnesium alloy coated products, becoming an important direction for industry upgrading. New Tianjin Cold Rolled Sheet Co., Ltd. successfully launched its new zinc-aluminum-magnesium PV mounting steel products, achieving full coverage of mainstream cold-rolled zinc-aluminum-magnesium PV mounting steel thickness specifications. In the same year, the No. 3 galvanizing line of Panzhihua Steel Vanadium & Titanium Co., Ltd. set a record for high-strength zinc-aluminum-magnesium PV mounting steel with a daily shift output of 612 tonnes.

The advantages of zinc-aluminum-magnesium alloy lie in: the coating forms a dense anti-corrosion barrier on the steel sheet surface, with corrosion resistance 10 to 20 times that of pure galvanized sheet. Even more notably, in October 2023, China’s first continuous hot-dip zinc-aluminum-magnesium-rare earth multi-alloy coated steel product was successfully developed in Baotou and rolled off the production line, with corrosion resistance exceeding that of traditional hot-dip galvanized materials by more than 10 times, reaching world-leading standards.

Breakthroughs in Super Weathering Steel and Flexible Mount Technology

In April 2023, Wuhan Iron and Steel Co., Ltd. (WISCO) successfully developed and globally launched a super weathering steel tie rod for PV mounts. This product solves the pain points of traditional hot-dip galvanized tie rods — long production processes, heavy pollution, and easy coating peeling — achieving a breakthrough in maintenance-free performance throughout the entire life cycle of PV mounts.

In the area of flexible mounts, the pre-stressed galvanized steel strand flexible mount launched by DAS Solar (Yidao Xinneng) attracted significant attention. This mount uses pre-stressed galvanized steel strands as the bearing cable for modules in the east-west direction, enabling an increase in installed capacity of about 25% on the same footprint, making it particularly suitable for complex terrains such as mountains.

III. Industry Chain Dynamics: Upstream Steel Enterprises Deeply Engage in PV Mounting Steel

In 2023, several domestic steel companies increased their布局 in the PV mounting steel sector.

Yieh Hsing (Ye Hui) performed particularly well in this field, with its 2023 sales of steel for solar photovoltaic mounting systems exceeding the full-year 2022 level, reaching 80,000 metric tonnes, with strong results in both domestic and export markets. Bayi Iron & Steel achieved a “zero breakthrough” in the production, marketing, and research of PV steel. Starting in March, it collaborated with Shenzhou Tong to develop cold-rolled zinc-aluminum-magnesium PV steel products, and within the year, delivered 40,000 tonnes in batch production.

From a cost structure perspective, raw material costs account for the highest proportion of total PV mount costs — approximately 72.58% for fixed mounts and 65.29% for tracking mounts. Price fluctuations in steel and galvanizing materials have a significant impact on mount manufacturer profits. In early 2023, the market price of 355-series strip steel in Tangshan remained at around RMB 4,150 per tonne. Regarding galvanizing processes, the industry generally adopts a standard of 65μm thick galvanized coating or 275 g/m² of aluminum-magnesium-zinc coating.

IV. Policy Environment: Domestic Support Alongside International Barriers

Continued Release of Favorable Domestic Policies

In 2023, China continued to increase support for the renewable energy industry. Fixed asset investment in the nonferrous metals industry grew by 17.3% year-on-year, the highest growth rate in nearly a decade, with significant drivers including PV, wind power, and energy storage. Large-scale PV project mounting procurement tenders were intensively launched, with central state-owned enterprises such as China Three Gorges Renewables and Huaneng Group initiating large-scale centralized procurement of PV mounts.

Increasing Challenges from International Trade Barriers

In 2023, Chinese PV mount exporters faced an increasingly complex international trade environment. The U.S. Department of Commerce is considering imposing anti-dumping and countervailing duties on aluminum profiles imported from 15 countries, including China, Mexico, Turkey, India, Italy, and South Korea. Meanwhile, the EU’s proposed Net-Zero Industry Act and Critical Raw Materials Act aim to promote manufacturing reshoring and reduce dependence on Chinese PV products. Traditional risks of anti-dumping and countervailing duty measures persist, posing real challenges that the industry must face.