Solar Tracker Market Outlook and Forecast Analysis by Types to 2025
10th October 2018 - Global Solar Tracker Market is segmented on the basis of technology, product, type, application and geography. Solar trackers are devices that increase the energy production and lowers levelized cost of electricity. They are designed to harness maximum amount of solar energy by aligning payloads orientation towards sun.
Trackers help to generate more energy as mirrors or solar panels are fully exposed to sunlight. At present, novel designs are developed to track the movement of the sun in a more efficient manner instead of using existing active and passive trackers available. Rising demand for sustainable green energy generated by renewable resources such as solar power has significantly grown due to rise in global warming. Position of Solar tracker device is the solar panel towards the sun. There is a growing demand for PV systems, which in turn is driving the demand for solar trackers. The rising demand of solar PV in commercial and residential organization is the key driver of the global solar tracker market.
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Increased cost of electricity on account of depleting non-renewable sources is expected to boost the market for PV installation systems in households plus commercial applications. Solar tracker is widely used in the various application areas like utility and non-utility. Government incentive schemes and Feed-in-tariffs (FIT) is anticipated to fuel the market growth in the coming years. On the basis of technology, the global solar tracker industry is segmented into solar photovoltaic (PV), concentrated photovoltaic (CPV), concentrated solar power (CSP) and so on. On the basis of product, the global solar tracker market is segmented into single axis and dual axis.
On the basis of type, the global solar tracker market is segmented into utility, non-utility and so on. On the basis of application, the global solar tracker industry is segmented into low power capacitors, medium power capacitors and high power capacitors.
The major manufacturers covered in this report
• BrightSource Energy Inc
• Soitec SA
• Titan Tracker Inc
• TechnoSunSolar Gmbh
• Van der Valk Solar Systems
• Array Technologies
• AllEarth Renewables
• Ecosun
• DEGERenergie
• Poweway Renewable Energy
• SmartTrak Solar
• Solar FlexRack
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
• Single Axis
• Dual Axis
On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including
• Utility
• Non Utility
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On the basis of geography, the global solar tracker market is segmented into Europe, Latin America, Asia Pacific, North America and Middle East & Africa. U.S. solar tracker industry share was over 4 GW and is predicted to witness substantiate growth due to various financial supports and incentives introduced by government to encourage deployment of renewable technologies. For Europe, Germany solar tracker industry share was accounted for 9 % of regional volume and will witness considerable growth owing to involvement of various energy policies including certification programs for RES-H installation and rising awareness regarding benefits of solar systems. In Germany, market premium scheme support the electricity generated from renewable resource.
Increasing electricity demand coupled with growing infrastructure development will drive the China solar tracker market share during the forecast period. Growing investment to generate clean fuel electricity will further complement the regional business growth.