Press release
Solar Tracker Market Analysis To 2025 - SunPower, First Solar, and Wuxi Hao Solar, NEXTracker, Array Technologies, Abengoa, Mecasolar, GRUPO CLAVIJO, SOITEC, Scorpius Trackers, Powerway, Smarttrak
Global solar tracker market is poised to observe substantial demand owing to the product's high CUF and energy generation capacity. Large scale adoption of PV systems across North America is supplementing industry size. Stringent environmental policies have encouraged utility and commercial sectors to deploy renewable energy systems.Advancement in technological landscape has also dropped the costs for developing PV panels. Whereas progressive government initiative that offers high electricity tariffs to commercial establishments could further influence solar tracker market outlook in the coming years.
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Taking into consideration the product spectrum, the dual axis solar tracker segment is poised to amass hefty proceeds in the years ahead, given its strong capability for providing two-degree flexibility, leading to a nearly 45% improvement in energy generation as compared to its traditional PV counterpart. As a result, dual axis solar tracker systems are witnessing robust demand across Concentrated Solar Power (CSP) and Concentrator Photovoltaics (CPV) power plants.
Dwindling solar panel costs alongside the enactment of ongoing strict environmental initiatives have resulted in extensive installation of solar trackers in North America. Due to their declining supply chain costs and enhanced module performance, PV tracker systems have seen a substantial rise in demand over the past few years. Manufacturing companies are making heavy investments towards R&D endeavors to further enhance the overall efficiency of the solar power system, thereby complementing industry outlook.
Declining PV production cost in North America
In North America, rapid technological advancements and declining tariff rates have minimized the production costs of solar panels. Execution of strict environmental reforms and the availability of low cost equipment has enabled large scale deployment of solar trackers in the region.
Over the past few years, the PV tracker systems have also witnessed sizable demand owing to the product's high module efficiency. Manufacturers meanwhile have begun investing heavily in R&D activities to improve the overall performance of solar products, which could thereby complement the North America solar tracker market outlook.
Emergence of next-generation solar trackers
Recently, there have been some significant strides in the global solar tracker market. Particularly, dual-axis solar trackers are the ones that have turned out to become an attractive alternative for a conventional photovoltaic system. The technology is expected to see a strong growth due to its ability to provide two-degree flexibility that offers enhanced energy generation by 45% compared to a conventional PV system. These systems are also witnessing strong demand across CSP (Concentrated Solar Power) and CPV (Concentrator Photovoltaics) power plants.
Furthermore, industry players such as SunPower Array Technologies, Meca Solar, Abengoa Solar and Powerway, are trying to develop more energy efficient & low-cost solar trackers.
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Glimpse of Table of Content (ToC): -
Chapter 4 Solar Tracker Market, By Product
4.1 Solar tracker market share by product, 2018 & 2025
4.2 Single Axis
4.2.1 Global market from single axis, 2014 - 2025
4.2.2 Global market from single axis, by region, 2014 - 2025
4.2.3 Horizontal
4.2.3.1 Global market from horizontal, 2014 - 2025
4.2.3.2 Global market from horizontal, by region, 2014 - 2025
4.2.4 Vertical
4.2.4.1 Global market from vertical, 2014 - 2025
4.2.4.2 Global market from vertical, by region, 2014 - 2025
4.3 Dual axis
4.3.1 Global market from dual axis, 2014 - 2025
4.3.2 Global market from dual axis, by region, 2014 - 2025
Chapter 5 Solar Tracker Market, By Application
5.1 Solar tracker market share by application, 2018 & 2025
5.2 Residential
5.2.1 Global market from residential, 2014 - 2025
5.2.2 Global market from residential, by region, 2014 - 2025
5.3 Commercial
5.3.1 Global market from commercial, 2014 - 2025
5.3.2 Global market from commercial, by region, 2014 - 2025
5.4 Utility
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