Executive Summary

The global solar panel tracking mount market has been experiencing significant growth over the past few years due to the increasing adoption of renewable energy sources and the growing demand for energy-efficient systems. The market is expected to reach USD 3.54 billion by 2025, growing at a CAGR of 17.25% during the forecast period.

Solar panel tracking mounts are systems that are used to track the movement of the sun and ensure that solar panels are always facing the sun at the most optimal angle. There are two main types of solar panel tracking mounts: single-axis and dual-axis. Dual-axis mounts are more expensive than single-axis mounts but can increase the energy output of solar panels by up to 45%.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

The global solar panel tracking mount market is driven by several key factors, including the increasing adoption of solar energy, the growing demand for energy-efficient systems, and the rising awareness about the environmental benefits of renewable energy sources. The market is expected to grow significantly over the next few years, driven by the increasing demand for renewable energy sources and the growing need for energy-efficient systems.

The market is characterized by intense competition among key players, who are focused on developing innovative and cost-effective solutions to meet the evolving needs of customers. The market is also highly fragmented, with a large number of small and medium-sized players operating in the market.

Market Analysis

The global solar panel tracking mount market is expected to grow at a CAGR of 17.25% during the forecast period, driven by the increasing adoption of renewable energy sources and the growing demand for energy-efficient systems. The market is expected to reach USD 3.54 billion by 2025, up from USD 1.11 billion in 2018.

The market is characterized by intense competition among key players, who are focused on developing innovative and cost-effective solutions to meet the evolving needs of customers. The market is also highly fragmented, with a large number of small and medium-sized players operating in the market.

Market Restraints

Despite the many advantages of solar panel tracking mounts, there are several factors that may hinder the growth of the market. One of the main challenges facing the market is the high cost of solar panel tracking mounts, which can be a barrier to entry for many customers. In addition, the complexity of these systems can make them more difficult to install and maintain, which can also be a challenge for some customers.

Another factor that may restrain the growth of the market is the availability of alternative renewable energy sources, such as wind and hydroelectric power. While solar energy is one of the most promising and rapidly growing sources of renewable energy, it is not the only option available to customers.

Market Opportunities

Despite the challenges facing the global solar panel tracking mount market, there are several opportunities for growth and expansion. One of the main opportunities is the increasing demand for energy-efficient systems, which is driving the adoption of renewable energy sources such as solar energy.

Another opportunity for the market is the increasing investment in solar energy by governments and private companies. Many countries around the world are investing heavily in solar energy as a way to reduce their carbon footprint and meet their renewable energy targets.

Market Dynamics

The global solar panel tracking mount market is characterized by intense competition among key players, who are focused on developing innovative and cost-effective solutions to meet the evolving needs of customers. The market is also highly fragmented, with a large number of small and medium-sized players operating in the market.

The market is driven by several key factors, including the increasing adoption of solar energy, the growing demand for energy-efficient systems, and the rising awareness about the environmental benefits of renewable energy sources. The market is also restrained by several factors, including the high cost and complexity of solar panel tracking mounts, as well as the availability of alternative renewable energy sources.

Regional Analysis

The global solar panel tracking mount market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is the largest market for solar panel tracking mounts, driven by the increasing demand for energy-efficient systems in countries such as China and India.

North America and Europe are also significant markets for solar panel tracking mounts, driven by the increasing adoption of renewable energy sources and the growing demand for energy-efficient systems in these regions.

Competitive Landscape

Leading Companies in the Global Solar Panel Tracking Mount Market:

1. NEXTracker, Inc.
2. Array Technologies, Inc.
3. Soltec Renewable Energies
4. First Solar, Inc.
5. SunPower Corporation
6. Arctech Solar Holding Co., Ltd.
7. GameChange Solar
8. Convert Italia SpA
9. Ideematec Deutschland GmbH
10. PV Hardware

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The global solar panel tracking mount market is segmented based on product type, application, and region. By product type, the market is segmented into single-axis and dual-axis solar panel tracking mounts. By application, the market is segmented into utility, commercial, and residential.

Category-wise Insights

The global solar panel tracking mount market is dominated by the utility segment, which accounted for the largest share of the market in 2018. This is due to the increasing adoption of solar energy by utility companies as a way to reduce their carbon footprint and meet their renewable energy targets.

The commercial and residential segments are also significant markets for solar panel tracking mounts, driven by the increasing demand for energy-efficient systems in these sectors.

Key Benefits for Industry Participants and Stakeholders

The global solar panel tracking mount market offers several key benefits for industry participants and stakeholders, including:

1. The opportunity to capitalize on the growing demand for renewable energy sources and energy-efficient systems.
2. The potential for significant revenue growth and expansion.
3. The opportunity to develop innovative and cost-effective solutions to meet the evolving needs of customers.
4. The ability to reduce carbon emissions and contribute to a more sustainable future.
5. The potential to access new markets and customers through expansion into different regions and applications.

SWOT Analysis

Strengths:

• Increasing adoption of renewable energy sources and energy-efficient systems
• Growing awareness about the environmental benefits of solar energy
• Intense competition among key players, driving innovation and cost-effectiveness

Weaknesses:

• High cost and complexity of solar panel tracking mounts, which can be a barrier to entry for some customers
• Availability of alternative renewable energy sources, such as wind and hydroelectric power
• Fragmented market with a large number of small and medium-sized players

Opportunities:

• Increasing investment in solar energy by governments and private companies
• Growing demand for energy-efficient systems
• Expansion into new regions and applications

Threats:

• Fluctuations in government incentives and policies related to solar energy
• Economic downturns and fluctuations in the global economy
• Technological advancements in alternative renewable energy sources

Market Key Trends

The global solar panel tracking mount market is experiencing several key trends, including:

1. Increasing adoption of dual-axis solar panel tracking mounts, which can increase the energy output of solar panels by up to 45%.
2. Growing interest in the use of artificial intelligence (AI) and machine learning (ML) in solar panel tracking mounts, which can improve their efficiency and accuracy.
3. Integration of solar panel tracking mounts with energy storage systems, allowing for the storage and use of solar energy even when the sun is not shining.
4. Increasing use of lightweight materials in solar panel tracking mounts, reducing their weight and cost while improving their durability and efficiency.

Covid-19 Impact

The Covid-19 pandemic has had a significant impact on the global solar panel tracking mount market, causing disruptions in the supply chain and reducing demand in some regions. However, the pandemic has also highlighted the importance of renewable energy sources and the need for energy-efficient systems, driving interest in solar energy and solar panel tracking mounts.

Key Industry Developments

The global solar panel tracking mount market has been experiencing several key developments in recent years, including:

1. Development of new and innovative solar panel tracking mount designs that are more efficient and cost-effective.
2. Growing investment in research and development to improve the efficiency and accuracy of solar panel tracking mounts.
3. Increasing use of digital and IoT technologies in solar panel tracking mounts, allowing for real-time monitoring and control.
4. Expansion into new regions and applications, driven by the increasing demand for renewable energy sources and energy-efficient systems.

Analyst Suggestions

To capitalize on the growing demand for renewable energy sources and energy-efficient systems, industry participants and stakeholders should focus on:

1. Developing innovative and cost-effective solutions to meet the evolving needs of customers.
2. Investing in research and development to improve the efficiency and accuracy of solar panel tracking mounts.
3. Expanding into new regions and applications to access new markets and customers.
4. Partnering with other companies and organizations to drive innovation and cost-effectiveness.

Future Outlook

The global solar panel tracking mount market is expected to continue growing in the coming years, driven by the increasing adoption of renewable energy sources and the growing demand for energy-efficient systems. The market is expected to reach USD 3.54 billion by 2025, growing at a CAGR of 17.25% during the forecast period.

Conclusion

The global solar panel tracking mount market offers significant opportunities for growth and expansion, driven by the increasing adoption of renewable energy sources and energy-efficient systems. Despite the challenges facing the market, including the high cost and complexity of solar panel tracking mounts, industry participants and stakeholders can capitalize on the growing demand for solar energy by developing innovative and cost-effective solutions to meet the evolving needs of customers. As the market continues to grow, there are several key trends and developments to watch for, including the increasing use of dual-axis solar panel tracking mounts, the integration of solar panel tracking mounts with energy storage systems, and the use of AI and ML technologies.