Market Overview: Southeast Asia Emerges as a Global Hotspot

Southeast Asia is rapidly transforming into a critical battleground for the global solar energy industry. Driven by ambitious renewable energy targets, supportive government policies, and falling technology costs, the demand for solar panel mounting systems across the region has surged dramatically in 2024. From utility-scale ground-mounted projects to distributed rooftop installations, the need for reliable, cost-effective, and locally adaptable mounting solutions has never been greater.

According to industry data, the Asia-Pacific solar PV mounting systems market has shown robust growth, with the region's market value rising from approximately $1,464 million in 2019 to an estimated $1,741 million in 2024. This upward trajectory is expected to continue, with projections indicating the market could reach $2,563 million by 2030. Within this broader regional growth, Southeast Asian countries are emerging as key drivers, with nations like Laos, Malaysia, Thailand, Vietnam, and Indonesia accelerating their solar deployment efforts.

Country Spotlight: Laos – A Rising Star

Laos has emerged as an unexpected but significant player in the solar mounting systems market. According to a recent market report, the country demonstrated remarkable growth with a compound annual growth rate (CAGR) of 14.35%, and an even more impressive growth rate of 158.48%, indicating a rapidly rising demand for renewable energy solutions.

Key drivers in the Lao market include:

Government policies and incentives promoting solar energy adoption

Growing investments in renewable energy projects

Increasing awareness about the benefits of solar energy and environmental concerns

The Lao market is segmented by type (fixed mounting, adjustable mounting, tracking mounting), by material (aluminum, steel, galvanized iron), by application (rooftop, ground-mounted, floating solar), and by end-use (residential, commercial, industrial, utility scale). In 2023, Laos continued to rely on China, Thailand, Vietnam, and Australia as top exporters of solar panel mounting structures.

However, the market also faces challenges, including:

High initial investment costs for solar panel mounting structures

Lack of skilled labor for installation and maintenance

Limited availability of suitable land or roof space for solar panel installations

Major Manufacturing Investment: Gstar's 7GW Project in Laos

In a significant development for the region, Chinese renewable energy solutions provider Alumsun Technology Sole Co. Ltd. (Gstar) recently launched a solar frame and mounting system manufacturing project in Vientiane, the capital of Laos.

Project Highlights:

The project is part of Gstar's integrated solar manufacturing strategy in Southeast Asia. In 2024, the company expects to reach a production capacity of 3GW of ingots, 3GW of wafers, 3GW of solar cells, 12GW of frames, and 3GW of modules. Additionally, a silicon ingot slicing plant is under construction in Indonesia, further expanding the company's regional footprint.

Strategic Collaboration: ATPC and Photons Solar Join Forces

September 2024 marked a pivotal moment for the ASEAN solar mounting market as NASDAQ-listed AGAPE ATP Corporation ("ATPC"), through its subsidiary ATPC Green Energy Sdn. Bhd., entered into a strategic collaboration with Xiamen Photons Solar Technology Co., Ltd ("Photons Solar").

About the Partners:

Photons Solar: A value chain partner of Shenzhen Stock Exchange-listed Fujian Minfa Aluminium Co., Ltd, renowned for its extensive experience in solar PV mounting systems with over 5 gigawatts (GW) in cumulative shipments and a 960,000 square meter manufacturing facility

ATPC Green Energy: Focused on developing solar PV farms in Sabah, Malaysia, with a service-oriented approach to project management

The collaboration focuses on developing solar PV mounting systems for Malaysia and other ASEAN countries, combining Photons Solar's state-of-the-art solar mounting systems with ATPC Green Energy's project management expertise.

Prof Dato' Sri Dr How Kok Choong, Founder and Global Group CEO of ATPC, stated: "This partnership with Photons Solar is a strategic step forward for us as we continue to develop solar PV farms in Sabah. Our collaboration aims to address critical issues such as grid stability and power supply challenges, ultimately supporting Sabah's shift to a clean, affordable, and reliable energy source."

Mr. Paul Cao, Chief Executive Officer at Photons Solar, added: "We are pleased to partner with ATPC Green Energy, given their solid presence and experience in the ASEAN region. Collaborating with a company that understands the local market dynamics allows us to work more effectively towards our shared goals in promoting renewable energy."

This partnership comes at a pivotal time as ASEAN countries intensify their efforts toward a zero-carbon energy future, with governments implementing various policies to encourage renewable energy development and achieve carbon neutrality.

Malaysia's Solar Ambitions on Display

In October 2024, the 3rd Malaysia International Solar & Energy Storage Conference was successfully held in Kuala Lumpur, bringing together key industry players to discuss the region's energy transition. The timing was particularly significant as Malaysia plans to deploy approximately 269 GW of solar PV capacity by 2040.

Key participants and announcements at the conference included:

Kesheng New Energy Technology Co., Ltd. showcased its full-scenario solar mounting solutions, highlighting its color-coated steel roof mounting systems and galvalume ground mounting systems. The company has achieved nearly 15GW of cumulative global solar mounting shipments as of June 2024, ranking first in the aluminum alloy solar mounting market in Japan and Korea, and leading in growth rate in Europe and China.

Huasun New Energy discussed its heterojunction technology leadership, with 20GW of heterojunction production capacity and over 7GW of heterojunction products supplied to more than 40 countries worldwide.

Seraphim Energy Group announced its global production capacity has reached 13GW in 2024, with the company having been named a Tier 1 module supplier by Bloomberg New Energy Finance for 10 consecutive years.

Risen Energy discussed its HJT modules and energy storage solutions, highlighting its position as one of the top 10 module manufacturers with CNAS-certified PV laboratories.

Technology Trends Shaping the Market

Several key technology trends are influencing the solar mounting systems market in Southeast Asia in 2024:

1. Fixed Mounting Dominance with Tracking Growth
Fixed mounting systems currently dominate the market due to their simplicity and lower cost, particularly suitable for the region's abundant solar resources. However, tracking mounting systems are gaining traction for utility-scale projects where the additional 15-25% generation gain justifies the higher upfront investment.

2. Material Preferences
Steel and galvanized iron remain popular for ground-mounted utility-scale projects due to their strength and cost-effectiveness. Aluminum mounting systems are increasingly preferred for rooftop applications, especially in the commercial and industrial segment, due to their lightweight and corrosion-resistant properties.

3. Corrosion-Resistant Solutions
Given Southeast Asia's tropical climate with high humidity and coastal salt spray exposure, galvalume-coated steel mounting systems have gained significant traction. These systems offer self-healing surface properties, strong corrosion resistance, long service life, and low maintenance costs, making them the preferred choice for many projects in the region.

4. Floating Solar Mounting Systems
With land constraints in many Southeast Asian countries, floating solar mounting systems are emerging as a promising solution. The Lao market report specifically identifies floating solar as a key application segment, reflecting growing interest in utilizing reservoirs, lakes, and other water bodies for solar deployment.

Market Outlook and Opportunities

The Southeast Asian solar mounting systems market is poised for continued growth, driven by several factors:

1. Policy Support
Governments across the region are implementing favorable policies, including feed-in tariffs, net metering schemes, and tax incentives, to accelerate solar adoption.

2. Falling Costs
Continued declines in solar component costs, including mounting systems, are improving project economics and driving adoption across residential, commercial, and utility-scale segments.

3. Supply Chain Localization
Major manufacturers like Gstar are establishing local production facilities in the region, reducing logistics costs and improving supply chain resilience.

4. Rising Corporate Demand
Multinational corporations operating in Southeast Asia are increasingly committing to renewable energy procurement through Power Purchase Agreements (PPAs) and on-site generation, driving demand for commercial and industrial mounting solutions.

5. Grid Modernization
Investments in grid infrastructure and energy storage are enabling higher penetration of solar energy, supporting larger-scale mounting system deployments.

Challenges to Address

Despite the positive outlook, several challenges need to be addressed to unlock the full potential of the Southeast Asian solar mounting market:

Initial Investment Barriers: High upfront costs for mounting systems remain a barrier, particularly for residential and small commercial projects

Skilled Labor Shortage: Limited availability of trained professionals for installation and maintenance affects project quality and timelines

Land Availability: Finding suitable land for ground-mounted projects remains challenging in densely populated areas

Regulatory Complexity: Varying regulations across different ASEAN countries create complexity for regional project developers

In a Nutshell

2024 marks a transformative year for the solar panel mounting systems market in Southeast Asia. From Gstar's 7GW manufacturing facility in Laos to the strategic ATPC-Photons Solar partnership in Malaysia, the region is witnessing unprecedented investment and collaboration. With supportive policies, falling costs, and innovative technology solutions tailored to local conditions, Southeast Asia is well-positioned to become a global leader in solar energy deployment, with mounting systems playing a crucial role as the structural backbone of this green energy revolution.

As the region marches toward ambitious carbon neutrality goals, the demand for reliable, cost-effective, and locally adapted solar mounting solutions will only continue to rise, creating significant opportunities for manufacturers, developers, and investors alike.