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Goodluck India Tops 2024 Solar Mounting Structure Market with 25.3% Share

Goodluck India led India’s solar module mounting structure market in 2024 with a commanding 25.3% market share, according to Mercom’s India Solar Market Leaderboard 2025. It was followed by Strolar Mounting Systems (17%) and Raydean Industries (13.8%). Metalkraft and MTE Structures completed the top five with 13.7% and 12.1%, respectively. The robust demand was driven by the surge in rooftop solar installations and government-led programs such as PM-KUSUM and PM Surya Ghar Yojana, along with utility-scale solar parks and urban solar initiatives.

Mounting structures play a vital role in ensuring optimal solar energy generation by maintaining proper panel alignment and tilt. In India’s diverse climatic conditions, these structures must endure seasonal stressors like strong winds, heavy rains, and even snow in some regions. The demand for solar carports and aesthetically designed systems has also grown, especially in residential and commercial spaces.

Notably, Goodluck India retained its leadership after raising nearly Rs200 crore through a qualified institutional placement in January 2024. Strolar rose two positions to second place, while Raydean maintained its third-place standing. Mercom’s report highlights the competitive dynamics and supply chain trends in India's growing solar infrastructure ecosystem.