Solar Tracker Market Trends Analysis By Major Companies: SunPower, First Solar, and Wuxi Hao Solar, NEXTracker, Array Technologies, Abengoa, Mecasolar, GRUPO CLAVIJO, SOITEC, Scorpius Trackers, Powerway, Smarttrak

Market Overview: -

Solar power has emerged from a niche segment to mainstream electricity source, the prime factor that has upscaled solar tracker market demand immensely. Solar trackers help in improving the energy output by orienting the payloads toward the sun. In fact, estimates claim that these trackers are capable of increasing the power output by almost 10-25% than their conventional counterparts, depending upon the geographic location of the tracking systems. Undoubtedly, technological innovations have played a pivotal role proliferating the overall market trends.

Solar Tracker Market is expected to surpass USD 27 billion by 2024. Paradigm shift towards sustainable electricity generation technologies from depleting conventional resources will embellish the global solar tracker market. Rising concerns pertaining to greenhouse gas emissions along with favorable regulatory measures for energy conservation have instituted a promising business scenario. In January 2016, British Columbia passed the Greenhouse Gas Industrial Reporting and Control Act which lays abiding standards and norms concerning emission control from industries across the region.

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Top Key Players: -

Some of the other biggies involved in solar tracker market include SunPower, First Solar, and Wuxi Hao Solar, NEXTracker, Array Technologies, Abengoa, Mecasolar, GRUPO CLAVIJO, SOITEC, Scorpius Trackers, Powerway, Smarttrak, AllEarth Renewables, DEGERenergie, Titan Tracker, and Grupo Clavijo.

Market share calculation in this report is not done based on companies covered in it. The calculation of solar tracker market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

Regional Segmentations: -

Speaking along the similar lines, a diversified range of strategies implemented by international organizations pertaining to the reduction of greenhouse gas emissions has catered solar tracker market commercialization. For instance, the Energy Star Program initiated by the United States EPA demonstrates the profitability potential by the reduction of GHG emission and energy consumption. The program deals with providing the consumers and the organizations enough technical information regarding the benefits of choosing energy efficient solutions. Driven by a favorable government participation in the deployment of energy efficient solutions, U.S. solar tracker industry is forecast to exceed an installation of 12GW by 2024.

Indonesia has also profoundly enlisted its name in the global industry landscape, taking into consideration the country’s National Action Plan of greenhouse gas reduction. Under the presidential reduction plan, the country has set a target to reduce GHG emission by 26% by 2020. Solar tracker market is indirectly characterized by such exemplary initiations across the globe, in extension to which the market investors are betting big on the commercialization landscape.

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Partial Chapter of the Table of Content

Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Market definition & forecast parameters
1.2. Data sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Solar tracker industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Technology trends
2.1.3. Product trends
2.1.4. Application trends
2.1.5. Regional trends
Chapter 3. Solar Tracker Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.4. Innovation & sustainability
3.5. Technology landscape
3.5.1. Solar Photovoltaic (PV)
3.5.2. Concentrated Photovoltaic (CPV)
3.5.3. Concentrated Solar Power (CSP)
3.6. Regulatory landscape
3.6.1. U.S.
3.6.2. UK
3.6.3. France
3.6.4. Germany
3.6.5. China
3.6.6. India
3.6.7. Australia
3.6.8. Chile
3.6.9. South Africa
3.7. Feed in tariff landscape
3.8. Price trend analysis
3.8.1. North America
3.8.2. Europe
3.8.3. Asia Pacific
3.8.4. Middle East
3.8.5. Africa
3.8.6. Latin America
3.9. Leading investment scenario across the solar industry
3.10. Industry impact forces
3.10.1. Growth drivers
3.10.1.1. Favorable government initiatives
3.10.1.2. Growing deployment of solar PV systems
3.10.1.3. Growing demand for sustainable energy
3.10.2. Industry pitfalls & challenges
3.10.2.1. High initial cost
3.11. Growth potential analysis
3.12. Porter’s analysis
3.13. Competitive landscape, 2016
3.13.1. Strategy dashboard
3.14. PESTEL analysis

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For instance, NEXTracker, one of the pioneers of solar tracker industry, has recently launched a solar plus energy storage solution named NX Fusion Plus, reportedly in November 2016. This groundbreaking innovation integrates a self-powered single-axis tracker, battery, software, and inverter into a single platform to provide a better ROI to the solar plant owner. This is arguably one of the biggest breakthroughs of recent times in the solar tracker market landscape, given the fact it is claimed to be the first of its kind. Some of the other biggies involved in solar tracker industry include Grupo Calvijo, Abengoa, SunPower, First Solar, and Wuxi Hao Solar, and, Array Technologies.

Favorable incentives such as soft loans, feed-in-tariffs, tax rebates implemented by governments of developing & developed nations have complemented solar tracker market penetration. Clean energy demand has witnessed a comprehensive upsurge with the growing urbanization, solar power demand being at the pinnacle. In this regard, it is important to note that the economics of solar power market has been improving rapidly. A large number of leading companies are inking solar deals not only to experience green credentials but also to diversify their supply sources at comparatively lower costs. Alongside, increasing global concern regarding the detrimental consequences of greenhouse gas emission has brought a renewed attention to the solar power sector, with a subsequent demand for solar tracker industry as well.

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