Solar Tracker Market Size, Share 2020 In-depth Analysis by Top Manufacturers and Forecast 2028

Global Solar Tracker Market Projected to Grow due to Growing Demand for Installation of Solar Systems in Residential and commercial Sector

One of the wide applications for automation in the area of solar energy is solar-tracking system. Due to the nature of apparent motion of the sun relative to the earth during the day, solar-tracking system can allow the solar collector to harness maximum solar irradiance. The critical issue of installing solar-tracker to any solar collector is more towards investment and return. Energy consumption across the globe has witnessed prominent growth on account of rapid industrialization & urbanization. Introduction of favorable policy & schemes and concerns regarding carbon emissions has fueled the growth of the solar technologies market.

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Key Takeaways of the Solar Tracker Market Study

1. The global solar tracker market has been segmented on the basis of product, technology, and application. Based on the product, the market has been segmented into single axis and dual axis. Single-axis solar trackers segment is anticipated to grow due to cost-effectiveness. Moreover, the dual-axis segment is anticipated to witness the fastest growth due to their two degrees of freedom that act on axes of rotation allowing it to move through two axes capturing more sunlight.

2. Based on technology, the solar photovoltaic segment is expected to witness rapid growth due to government funding and subsidies.

3. Based on application, the global solar tracker market has been segmented into utility, commercial, and residential. The utility sector is shifting to renewable and sustainable sources of energy.

4. The global solar tracker market is anticipated to grow rapidly in the Asia Pacific due to large scale developments in China and India. In India, the government is implementing key initiates, such as the Jawaharlal Nehru National Solar Mission, the Rooftop scheme, and Ujjwal Discom Assurance Yojna to boost solar energy.

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Notable Development Trends to Open up New Horizons of Growth for Solar Tracker Market
The leading companies in the market focus on product development as well as the acquisition in the market to enhance the market share in the global market during the forecast period.

1. May 26, 2020 - Point Load Power announced the launch of its flagship technology, PV Booster Gen 2, a rooftop tracking system designed to maximize solar production from monofacial and bifacial solar panels, producing up to 70% more energy per panel compared to fixed-tilt rooftop mounting solutions.

2. Sep 24, 2019 - NEXTracker, a Flex company, introduced today a new member of its smart single-axis solar tracker family—NX GeminiTM. The product is optimized for customer sites for challenging terrain, hard soils, high-wind, and irregular parcel shapes.

Major points covered in the report:
1. Macroeconomic factors affecting the Solar Tracker market and its potential
2. Solar Tracker Market dynamics, such as drivers, challenges, and trends
3. Detailed value chain analysis of the Solar Tracker market
4. The cost structure of the products and segments covered in the study
5. key product segments, regions and by major market participants are analyzed
6. Analysis of demand and supply, such as top manufacturing and consuming regions, overall trade scenario with imports/exports details
7. Analysis of the market structure, including a tier-wise categorization of key market participants
8. Competitive landscape of the Solar Tracker market, including detailed profiles of the top players in this market

Some of the major players in the Solar Tracker market are AllEarth Renewables, NEXTracker Inc., Soitec, Abengoa Solar, First Solar (Ray Tracker), Array Technologies, DEGERenergie, Grupo Clavijo, SunPower, Titan Tracker, PV Powerway, SmartTrak, Energia Ercam, Mecasolar, and Mechatron.

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Market Segmentation:

By Product:
• Single Axis
• Dual Axis

By Technology:
• Solar Photovoltaic
• Concentrator Photovoltaic
• Concentrated Solar Power

By Application:
• Utility
• Commercial
• Residential

By Region:

North America
o By Country (US, Canada, Mexico)
o By Product
o By Technology
o By Application

Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Product
o By Technology
o By Application

Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Product
o By Technology
o By Application

Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Product
o By Technology
o By Application

Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Product
o By Technology
o By Application

Rest of the World
o By Region (South America, Africa)
o By Product
o By Technology
o By Application

Reasons to Buy This Report:
• Market size estimation of the global solar tracker market on a regional and global basis
• The unique research design for market size estimation and forecast
• Profiling of major companies operating in the market with key developments
• Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:
We provide customization of the study to meet specific requirements:
• By Segment
• By Sub-segment
• By Region/Country

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This release was published on openPR.