Global Solar Trackers Market Opportunities, Industry Trends and Business Overview -2023 | growing at a significantly higher CAGR 18.53% with top most key players - Array Technologies, Energia Ercam, Grupo Clavijo, DEGERenergie, First Solar, Hao, Mecasolar

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.

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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.

Industry Trend Analysis
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 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.

By Region-
Middle East And Africa (Saudi Arabia, UAE, Egypt, Nigeria And South Africa)
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, Turkey, United Arab Emirates, Others)

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Market Segmentation-
By Technology
Solar Photovoltaic (PV)
Concentrated Solar Power (CSP)
Concentrated Photovoltaic (CPV)

By Product
Single axis
Dual axis

By Application
Utility
Non-utility

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Major Table of Contents:
Chapter 1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research

Chapter 2. Executive Summary
2.1. Key Highlights

Chapter 3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
4. Solar Tracker Market, By Technology
4.1. Introduction
4.2. Global Solar Tracker Sales, Revenue and Market Share by Technology (2014-2017)
4.2.1. Global Solar Tracker Sales and Sales Share by Technology (2014-2017)
4.2.2. Global Solar Tracker Revenue and Revenue Share by Technology (2014-2017)
4.3. Solar Tracker Market Assessment and Forecast, By Technology, 2014-2023
4.4. Concentrated Solar Power (CSP)
4.4.1. Market Assessment and Forecast, By Region, 2014-2023 ($Million)
4.5. Solar Photovoltaic (PV)
4.5.1. Market Assessment and Forecast, By Region, 2014-2023 ($Million)
4.6. Concentrated Photovoltaic (CPV)
4.6.1. Market Assessment and Forecast, By Region, 2014-2023 ($Million)
5. Solar Tracker Market, By Product
6. Solar Tracker Market, By Application
7. Solar Tracker Market, By Region

…….CONTINUED FOR TOC

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.

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