Solar Panel Tracking Mounts Market: Introduction
Solar panel tracking mounts are used to orient solar photovoltaic panels or modules or to concentrate solar reflectors or lenses towards the sun. These mounts are a product of highly advanced technology and change the orientation of panels through the day by tracking the sun’s path so as to optimize the energy capture capacity. Concentrators in solar photovoltaic applications require high accuracy to ensure that sunlight is directed precisely to the powered device, as the system does not produce energy unless directed correctly towards the sun. Solar panel tracking mounts can be active or passive. Passive trackers use compressed gas fluid to move to one side or another, while active trackers use a controller to monitor the sun’s position in order to direct the motor to move the panel. Further, on the basis of the number of rotating axes, solar panel tracking mounts are single axis type or dual axis type. Single axis trackers rotate along one axis, they have manual elevation (axis tilt) adjustment for the second axis, allowing them to capture a bit more sunlight as compared to fixed mount systems. On the other hand, dual axis trackers have vertical as well as horizontal motion, giving even higher efficiencies as compared to single axis trackers. Solar panel tracker mounts generate up to 35% more energy as compared to fixed trackers.
Solar panel tracking mounts have been gaining popularity over past few years as they improve the efficiency and increase the yield. These mounts are one of the most effective add-on products for solar power. Increasing penetration is expected to drive the growth of the solar panel tracking mounts market over the forecast period.
Solar Panel Tracking Mounts Market: Dynamics
Increasing environmental concerns, such as greenhouse gas emission, growing energy demand, especially from emerging countries (India, China, etc.) and increasing investment for renewable energy are expected to drive the solar power market and subsequently, are contributing towards the growth of the solar panel tracking mounts market. Moreover, solar trackers boost the return on solar investment as they increase the production capacity of the solar panel. Hence, they are gaining popularity among solar power units, which will drive the demand for solar panel tracking mounts.
However, the solar panel tracking mounts market is expected to be retrained by the slightly high cost of tracking mounts as compared to fixed mounts. Solar panel tracking mounts are much more complex and generally require more maintenance as compared to traditional fixed mounts as they involve a larger number of moving parts. As the solar industry progresses, key players are increasingly emphasizing on improving the performance of solar panels, especially with regard to cost saving and generating higher output. With the evaluation of solar industries, players are focusing on developing products to reduce the installation cost and optimize production. As the installation cost reduces, the demand for solar panel tracking mounts is expected to boost.
Solar Panel Tracking Mounts Market: Segmentation
On the basis of tracking systems, the solar panel tracking mounts market can be segmented as:
On the basis of axis rotation, the solar panel tracking mounts market can be segmented as:
On the basis of end use, the solar panel tracking mounts market can be segmented as:
Solar Panel Tracking Mounts Market: Regional Outlook
North America and Europe are expected to dominate the solar panel tracking mount market. The shifting trend towards the use of renewable energy is expected to boost the growth of the solar panel tracking mounts market with a significant rate. Further, implementation of schemes such as Renewable Energy Investment Tax Credit (REITC) in the U.S. and implantation of stringent environmental regulations by the European Union are expected to be the key driving factors for the growth of the market in these regions. Asia Pacific is expected to be the fastest growing region and is anticipated to outpace other regions over the coming years. Rapid increase in the demand for power due to industrialization and urbanization in economically developing nations, such as India and China, is expected to be the key factor fuelling the growth of the solar panel tracker mounts market in the region. Latin America and MEA are expected to grow at a slower pace as compared to other regions.
Solar Panel Tracking Mounts Market: Market Participants
Examples of some of the key players identified in the global solar panel tracking mounts market are as follows:
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
Regional analysis includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Future Market Insights.