Solar Tracker Market: Global Industry Analysis and Opportunity Assessment, 2019 – 2023

Global Solar Tracker Industry

New Study On “2019-2023 Solar Tracker Market Global Key Player, Demand, Growth, Opportunities and Analysis Forecast” Added to Wise Guy Reports Database

Solar trackers are one of the most efficient types of solar mounting equipment. It is used to increase electricity production of the solar panel by moving the panels towards the sun for the whole day. It optimizes the angle through which the panels receive solar radiation and generate electricity. The trackers are normally used for ground-mounted solar panels and free-standing, large solar installations such as solar trees. There are two kinds of solar tracking system, including single-axis tracker and dual-axis tracker. Growing trend from non-renewable to renewable energy sources has been observed, which is creating significant demand for solar trackers across countries. For instance, according to the World Economic Forum in 2018, the amount of solar power capacity is expected to be increased further in the next few years. Approximately 70,000 solar panels globally are anticipated to be added at every hour over the next five years. In addition, according to the International Energy Association (IEA), PV solar power increased rapidly as compared to any fuel in 2016. Solar PV installations are showing remarkable growth than any other type of renewable energy sources such as hydropower and wind energy. This, in turn, is providing considerable opportunity for further addition of solar capacity in the upcoming period and enables the global solar tracker market to grow.

Try Sample Report @ https://www.wiseguyreports.com/sample-request/3672057-global-solar-tracker-market-research-and-forecast-2018-2023

Other factors that are contributing to the market growth include growth in solar energy projects, high efficiency of solar energy and funding for the solar tracking system. Moreover, technological innovations and increasing awareness of solar energy are expected to accelerate the market growth during the forecast period. However, there are certain factors restricting the market growth comprising reducing feed-in-tariff on solar energy, lack of skilled personnel and high installation cost.
Furthermore, the global solar trackers market is segmented on the basis of type, end-user, and technology. Based on the type, the market is classified into a single axis and dual axis tracker. Based on end-user, the market is classified into commercial, residential, industrial and others (such as government and educational institutions). Increasing demand for solar PV on commercials is creating significant demand for solar trackers among commercial segment. However, the high demand for energy in agricultural activities enables the demand for solar trackers in the agriculture segment. Based on technology, the market is classified into a PV system, concentrated solar power and concentrator photovoltaics. PV system is further segmented into monocrystalline, polycrystalline and thin-film silicon PV panels.
On the basis of geography, the market is segmented into four major regions, including North America, Europe, Asia-Pacific & Rest of the World. Asia-Pacific is gaining popularity in the global solar tracker market as the demand for solar power in Asia-Pacific countries such as China and India are growing significantly due to lowering the cost of buying. Additionally, favorable government initiatives towards renewable sources in the region are further propelling the demand for solar trackers in the region. However, North America & Europe is expected to witness remarkable growth during the forecast period due to increasing electricity generation from renewable sources in the region.
Some major players in the global solar tracker market comprise Abengoa Solar, S.A., Array Technologies, Inc., Flextronics International Ltd, Convert Italia S.P.A., Vikram Solar Ltd. and First Solar, Inc., among others. Mergers & acquisition, product launches, and partnership & collaboration are some of the strategies adopted by these players to be competitive in the market. For instance, in September 2016, Vikram Solar Ltd. introduced HELITRAC, a solar tracking system. It is an extremely advanced solar tracker along with strong weatherproof mechanism. This enables to further improve PV efficiency with its orientation changing capabilities all over the day in order to follow the sun’s path that helps in increasing energy capture.
Research methodology
The market study of the global solar tracker market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, a country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
Secondary sources include
• Financial reports of companies involved in the market
• Authentic Public Databases such as International Energy Association, Department of Energy and so on.
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
The report is intended for government and private companies for overall market analysis and competitive analysis. The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Market segmentation
Global Solar Tracker Market is segmented on the basis of regional outlook and following segments:
1. Global Solar Tracker Market Research and Analysis, By Type
2. Global Solar Tracker Market Research and Analysis, By End-User
3. Global Solar Tracker Market Research and Analysis, By Technology
4. Global Solar Tracker Market Research and Analysis, By Region
THE REPORT COVERS
• Comprehensive research methodology of global solar tracker market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global solar tracker market.
• Insights about market determinants which are stimulating the global solar tracker market
Companies Mentioned
1. Abengoa Solar, S.A.
2. Allearth Renewables, Inc.
3. ArcelorMittal S.A.
4. Arctech Solar Holding Co., Ltd.
5. Array Technologies, Inc.
6. Big Sun Energy Technology, Inc.
7. Convert Italia S.P.A.
8. First Solar, Inc.
9. Flextronics International Ltd.
10. Gamechange Solar, LLC
11. Ganges Internationale Pvt. Ltd.
12. Grupo Clavijo Elt, S.L.
13. Mahindra Susten Pvt. Ltd.
14. Panasonic Electric Works Europe AG
15. Scorpius Trackers Pvt. Ltd.
16. SmartTrak Solar Systems Pvt Ltd.
17. Soltec America LLC
18. Soltigua
19. Sun Action Trackers, LLC
20. SunPower Corp.
21. Trina Solar Ltd.
22. Vikram Solar Ltd.
23. Xiamen Grace Solar Technology Co., Ltd.

For Detailed Reading Please visit WiseGuy Reports @ https://www.wiseguyreports.com/reports/3672057-global-solar-tracker-market-research-and-forecast-2018-2023

Some Major Points from Table of content:

CHAPTER 1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
1.2.3. By Stakeholders
CHAPTER 2. Market Overview and Insights
2.1. Market Definition
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendation
2.2.3. Conclusion
2.3. Regulations
CHAPTER 3. Market Determinants
3.1. Motivators
3.1.1. Rising Solar PV Installations
3.1.2. Growth in Solar Energy Projects
3.1.3. High Efficiency of Solar Energy than Other Renewable Energy Sources
3.1.4. Funding for Solar Tracking System
3.2. Restraints
3.2.1. Reducing Feed-In-Tariff on Solar Energy
3.2.2. Lack of Skilled Personnel
3.2.3. High Installation Cost
3.3. Opportunities
3.3.1. Technological Innovations in Solar Tracking System
3.3.2. Rising Electricity Prices
3.3.3. Emerging Markets such as India and China
CHAPTER 4. Market Segmentation
4.1. Global Solar Tracker Market by Type
4.1.1. Single Axis Tracker
4.1.2. Dual Axis Tracker
4.2. Global Solar Tracker Market by End-User
4.2.1. Commercial
4.2.2. Residential
4.2.3. Industrial
4.2.4. Others
4.3. Global Solar Tracker Market by Technology
4.3.1. Photovoltaic System (PV)
4.3.1.1. Monocrystalline Silicon PV Panels
4.3.1.2. Polycrystalline Silicon PV Panels
4.3.1.3. Thin-Film Silicon PV Panels
4.3.2. Concentrated Solar Power (CSP)
4.3.3. Concentrator Photovoltaics (CPV)

Continued….

For more information or any query mail at sales@wiseguyreports.com

About Us
Wise Guy Reports is part of the Wise Guy Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Wise Guy Reports understand how essential statistical surveying information is for your organization or association. Therefore, we have associated with the top publishers and research firms all specialized in specific domains, ensuring you will receive the most reliable and up to date research data available.

Contact Us:
Norah Trent
+91 841 198 5042
Office No. 528, Amanora Chambers
Pune - 411028
Maharashtra, India

This release was published on openPR.