Solar Trackers Market Development Strategy -CAGR 18.53% forecasted period 2023 | AllEarth Renewables, Array Technologies, Energia Ercam, Grupo Clavijo, DEGERenergie, First Solar, Hao, Mecasolar, Soitec, SmartTrak, Mechatron…

In 2014, the Global Solar Trackers Market was evaluated around USD 5.24 billion and is expected to reach approximately USD 24.19 billion by 2023 while registering itself at a compound annual growth rate (CAGR) of 18.53% over the forecast period.

Solar Trackers Market - Competitive Outlook and Trend Analysis:

The global market is fairly fused as major five competitors are accountable for around 40% of the global market share. Key companies have initiated the expansion in Asia Pacific region to furnish to the rising demand for alternative energy in this region. The major market participants are AllEarth Renewables, Array Technologies, Energia Ercam, Grupo Clavijo, DEGERenergie, First Solar, Hao, Mecasolar, Soitec, SmartTrak, Mechatron, Powerway Renewable Energy Co. Ltd, Sun Power Corporation and Titan Tracker.

Sample copy of the report: https://www.crystalmarketresearch.com/report-sample/EM02594 .

Solar Trackers Market - Industry Trend Analysis:

Solar trackers are equipment that assists in escalating the installed payloads efficiency like panels, fresnels, mirrors and parabolic mangers. Solar trackers have the capability to augment the competence of these payloads by over 30%. The market demand is propelled by growing awareness regarding renewable energy and undesirable effects ensuing owing to weather change. The encouraging regulations in emerging countries, as well as actions taken by governments across the globe to trim down dependency on energy generation that ensues in emission, is anticipated to fuel the solar tracker's demand. Growing government emphasis on alternative energy sources has ensued as the progress of solar PV cells since a sustainable and continuous energy production source. The speedy rise in a number of PV installations in Spain has condensed the levelized price of electricity, ensuing in solar PV being competitory with other traditional energy forms.

Solar Trackers Market - Technology Outlook and Trend Analysis:

In 2015, the photovoltaic technology (PV) was the major segment reporting for around 75% of the overall capacity. The ease of application linked with regular module PV cell technologies due to simple design is expected to drive the demand. Growing electricity cost due to the supply-demand gap is anticipated to boost usage in utility and non-utility applications. Other technologies are concentrated solar power (CSP) and concentrated photovoltaic (CPV). CSP technology is projected to experience a gradual turn down in market share during the forecast years owing to decrease in many installations because of elevated costs involved. Though, since 2004, installed CSP capacity worldwide has amplified tenfold and has been rising at a standard of 30% during the last few years.

Solar Trackers Market - Product Outlook and Trend Analysis:

In 2015, single axis trackers were the key product section reporting for around 60% of the overall market. The rising usage of single trackers for residential and commercial applications is expected to fuel the market growth. This section is expected to progressively lose share in the coming years since key companies have initiated installing dual axis trackers due to their efficiency and accuracy. The elevated land requirement, advanced technology, and the need to preserve motors & control systems are expected to raise O&M spending.

Access complete report: https://www.crystalmarketresearch.com/report/solar-tracker-market .

The global solar trackers market is segmented as follows –

Solar Trackers Market - By Technology:

Solar Photovoltaic (PV)
Concentrated Solar Power (CSP)
Concentrated Photovoltaic (CPV)

Solar Trackers Market - By Product:

Single axis
Dual axis

Solar Trackers Market - By Application:

Utility
Non-utility

Solar Trackers Market - Application Outlook and Trend Analysis:

In 2015, utility section was the major reporting for almost 85% of the global market share. Increasing cost of electricity along with elevated demand for energy production from alternative sources is anticipated to impact the market growth positively. Trackers have restricted application in the non-utility application owing to the space constraints and high installation cost. Residential applicants favor installing an additional PV panel rather than a tracker as it is cost proficient and aids in generating higher energy.

Solar Trackers Market - By Region:

North America - U.S, Canada, Mexico

Europe - Germany, France, UK, Italy, Spain, Rest of Europe

Asia-Pacific - Japan, China, Australia, India, South Korea, Rest of Asia Pacific

Rest of the World - Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others

Solar Trackers Market - Regional Outlook and Trend Analysis:

European region held the leading share of around 36% in the global industry. The global industry in this area is propelled by countries like Germany and Spain owing to the existence of a large number of market players. The growth of the European regional market can be assigned to tactical geographic location ensuing in highest quantity of sunlight in the entire Europe, over the year. Asia Pacific region is expected to be the highest-growing region during the forecast years. This region is anticipated to grow with the courtesy of growing investment in alternative energy by countries like India Chin, and Japan. The emerging countries of this region have been promoting their energy base to fulfill growing demand for power as well as taking actions to limit prospective energy utilization. South & Central America is anticipated to experience considerable growth during the next few years owing to elevated potential in this region, especially in Chile, Brazil, Colombia, and Argentina. A prominent number of PV installations in this region are anticipated to fuel the demand during the forecast years.

Solar Trackers Market - Table of Contents:

1.Introduction
2.Executive Summary
3.Market Overview
4.Solar Tracker Market, By Technology
5.Solar Tracker Market, By Product
6.Solar Tracker Market, By Application
7.Solar Tracker Market, By Region
8.Company Profiles
8.1.Wuxi Hao Solar Technology Co. Ltd.
8.1.1. Business Overview
8.1.2. Product Portfolio
8.1.3. Strategic Developments
8.1.4. Solar Tracker Sales, Revenue and Market Share
8.2.All Earth Renewables, Inc
8.2.1. Business Overview
8.2.2. Product Portfolio
8.2.3. Strategic Developments
8.2.4. Solar Tracker Sales, Revenue and Market Share
8.3. Abengoa Solar, S.A.
8.3.1. Business Overview
8.3.2. Product Portfolio
8.3.3. Strategic Developments
8.3.4. Solar Tracker Sales, Revenue and Market Share
8.4.Array Technologies, Inc.
8.4.1. Business Overview
8.4.2. Product Portfolio
8.4.3. Strategic Developments
8.4.4. Solar Tracker Sales, Revenue and Market Share
8.5.First Solar, Inc.
8.5.1. Business Overview
8.5.2. Product Portfolio
8.5.3. Strategic Developments
8.5.4. Solar Tracker Sales, Revenue and Market Share
8.6.SunPower Corporation
8.6.1. Business Overview
8.6.2. Product Portfolio
8.6.3. Strategic Developments
8.6.4. Solar Tracker Sales, Revenue and Market Share
8.7.DEGERenergie GmbH
8.7.1. Business Overview
8.7.2. Product Portfolio
8.7.3. Strategic Developments
8.7.4. Solar Tracker Sales, Revenue and Market Share
8.8.Grupo Clavijo Elt SL
8.8.1. Business Overview
8.8.2. Product Portfolio
8.8.3. Strategic Developments
8.8.4. Solar Tracker Sales, Revenue and Market Share
8.9.Powerway Renewable Energy Co., Ltd.
8.9.1. Business Overview
8.9.2. Product Portfolio
8.9.3. Strategic Developments
8.9.4. Solar Tracker Sales, Revenue and Market Share
8.10. Titan Tracker SL
8.10.1. Business Overview
8.10.2. Product Portfolio
8.10.3. Strategic Developments
8.10.4. Solar Tracker Sales, Revenue and Market Share
9.Global Solar Tracker Market Competition, by Manufacturer
….

Get more information of this report: https://www.crystalmarketresearch.com/send-an-enquiry/EM02594 .

Some of the key questions answered by the report are:

What was the market size in 2014 and forecast from 2015 to 2023?

What will be the industry market growth from 2015 to 2023?

What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?

What are the major segments leading the market growth and why?

Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?

Continued…

About Crystal Market Research:

Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customised research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.

Contact Us:
Judy
304 South Jones Blvd, Suite 1896,
Las Vegas NV 89107,
United States
Toll Free: +1-888-213-4282
Email: sales@crystalmarketresearch.com

This release was published on openPR.