The photovoltaic panel is a device which converts light into electric potential. PV tracker is a device that increases the energy production by orienting photovoltaic panels toward the sun to harness more sunlight. PV tracker has the more advanced technology for mounting photovoltaic panels which hold these panels in a fixed position when the sun passes to a less-than-optimal angle for maximizing the output. The photovoltaic systems are easy to install, safe and reliable. It helps to deliver safe, affordable and decentralized electrical energy to the residential and commercial organizations.
The major drivers of PV tracker market are increasing demand for commercial and residential applications coupled with the increasing cost of electricity. However, more land or space requirement than the fixed panels as movements of trackers affect neighboring panel by creating shadow curtail the market growth. Hence without the proper technical infrastructure, a large amount of PVs may give negative impact on output. Maintenance of PV tracker is another challenge for the residential and commercial organization. Nonetheless, government incentive scheme and Feed-in-tariffs (FIT) is anticipated to fuel the PV tracker the market in future.
The study provides a decisive view on the PV tracker market by segmenting the market on the basis of product, technology, application and regional segment. On the basis of product, the PV market is fragmented into dual axis and single axis. Single axis is less expensive than the double axis. Therefore, the single axis is widely used for residential and commercial applications. On the basis of the technology market is bifurcated into photovoltaic (PV), concentrated photovoltaic (CPV) and concentrated solar thermal (CSP). PV tracker is used to minimizing the angle of incidence between a photovoltaic panel and the incoming sunlight. Key application segment of PV tracker market is utility and non-utility. Utility segment acquired a majority share of the overall market share in 2015. The major reason for high demand for PV trackers in utility segment is its cost effectiveness as compared to nonutility applications. Regional segmentation of PV tracker can be done into North America, Europe, Asia-Pacific and Middle and East Africa. The PV market is anticipated to grow at the fastest pace in Asia Pacific basically in China and India.
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Major companies profiled in this study include Sun Power Corporation, Wuxi Hao Solar Technology Co. Ltd., Trina Solar, S.A., AllEarth Renewables, Inc., Array Technologies, Inc., SmartTrak Solar Systems Pvt. Ltd., Suntech power, Sharp Corporation, Grupo Clavijo Elt SL, Soitec, Optimum Tracker Titan Tracker SL, Powerway Renewable Energy Co., Ltd., Energia Ercam SL, Mecasola, Yingli Solar, Mechatron S.A., and CM Tracker among others.