Press release
Solar Tracker Market: Growing Demand and Emerging Trends in the Market with Key Players - Convert Italia SpA, Mahindra Susten, SunPower Corporation, GameChange Solar and more others
Solar Tracker
This report studies the global Solar Tracker Speaker market, analyzes and researches the Solar Tracker Speaker development status and forecast in North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. This report focuses on the top players in global market, like Convert Italia SpA, Mahindra Susten, SunPower Corporation, GameChange Solar
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The global solar tracker market size was 14.5 Gw units in 2017. The accelerating demand for energy, the growing awareness regarding environmental pollution and the unremitting reduction in nonrenewable resources of fossil fuels have pushed mankind to shift to renewable sources such as solar energy. This shift is projected to drive the global solar tracker market. Further, owing to the favorable government’s initiatives in major countries, utility sector has widely adopted to solar trackers driving the growth of global solar tracker market during the estimated period.
Single axis solar trackers were valued at USD 2.4 billion and the production capacity was 9.4Gw units in 2017 in the global solar tracker market. A single-axis tracker moves along north to south direction along a single axis while dual axis moves both north-south & east-west along two axes. Dual axis solar trackers are costlier than single axis and hence utility sector have widely adopted to single axis making it highest selling solar tracker. Dual axis solar trackers are projected to surge in demand in the global solar tracker market as they offer more power output and are more efficient compared to the single axis.
On the basis of technology, photovoltaic solar trackers had a market share of 70% in 2017 in global solar tracker market. Photovoltaic panels produce electric energy from both direct and diffuse compared to others. Photovoltaic panels are also promoted through government subsidy and funding, thus increasing the demand for photovoltaic technology in global solar tracker market. For instance, in October 2018 Canada government announced a policy for business or corporates who all are adopting PV solar panels in solar trackers would be eligible for a full tax exemption.
Utility segment in 2017 accounted to more than 86% share in the global solar tracker market. Growing cost of electricity because of increasing demand and supply gap, the utility sector is now shifting to renewable sources such as solar are projected to increase the demand for solar trackers. Further government rules and regulation to reduce carbon emission coupled government initiatives to adopt to solar energy, utility sector are projected to widely adopt to solar trackers driving the growth of global solar tracker market.
Product Overview, 2012-2025 (USD million) (Mw units)
Single axis
Dual axis
Technology Overview, 2012-2025 (Mw units)
Photovoltaic (PV)
Concentrated photovoltaic (CPV)
Concentrated solar power (CSP)
Application Overview, 2012-2025 (Mw units)
Utility
Non-Utility
Regional Overview, 2012-2025 (Mw units)
North America
U.S.
Canada
Mexico
Europe
France
Germany
Spain
Rest of Europe
Asia Pacific
India
Japan
China
Rest of Asia Pacific
South America
Brazil
Argentina
Chile
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
Jordan
Rest of MEA
Rest of Middle East and Africa
What does the report offer?
Important parameters such as drivers, restraints, and opportunities have been discussed in detail that are likely to impact the market.
Company profiles of the key players in the market which helped to us understand their strategies, key initiatives, and financial performance and market offerings.
Analysis of strategic framework and market dynamics
Government initiatives
PORTER’s analysis
Value chain analysis
PESTLE analysis
Who should buy this report?
This study is suitable for industry members and stakeholders related to energy sector, who want an in-depth analysis and insight of the market. The report will benefit:
Players in solar energy market
Companies in solar tracker market
Solar energy associations
Regulatory bodies and government who wish to understand the latest technological developments in the market
New entrants in the market wanting to understand the market dynamics
Regional and local governments wanting to install solar tracker projects
Analysts, educationalists, strategy managers, researchers, and academic institutions looking for insights into the market to determine future strategies and to forecast the market.
Consulting firms
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About Adroit Market Research:
Adroit Market Research provide quantified B2B research on numerous opportunistic markets, and offer customized research reports, consulting services, and syndicate research reports. We assist our clients to strategize business decisions and attain sustainable growth in their respective domain. Additionally, we support them with their revenue planning, marketing strategies, and assist them to make decisions before the competition so that they remain ahead of the curve.
Ryan Johnson
Adroit Market Research
3131 McKinney Ave #600
Dallas, TX 75204
Tel: +1-214-884-6068
Email: sales@adroitmarketresearch.com
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