Press release
Single Axis Solar Tracker Market 2021 Precise Outlook- NexTracker Inc, Array Technologies Inc, PV Hardware Solutions S.L.U., Arctech Solar Holding Co. Ltd
The Global Single Axis Solar Tracker Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope, and application of this report.The global single-axis solar tracker market is expected to grow at a CAGR of more than 25% over the period of 2020-2025
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Key Market Players:
NexTracker Inc, Array Technologies Inc, PV Hardware Solutions S.L.U., Arctech Solar Holding Co. Ltd., Soltec Energias Renovables SL, Nclave Renewable SL, Valmont Industries Inc., and Soluciones Tecnicas Integrales Norland SL. and Other
Key Market Trends
Single Axis Solar Trackers Driving the Solar Power Industry
- Single-axis trackers have a single degree of flexibility that serves as an axis of rotation. This is usually aligned along a North-South path, but it is possible to align them in any cardinal direction. But they are less effective when they move farther towards the Northern regions because the variance of the solar angle is higher between the summer and winter seasons in locations far from the equator.
- Nextracker Inc. contributing one-third of the tracker market is solely working on the single-axis solar trackers and emerged as the leading player in 2019.
- In April 2019, PV hardware Solutions S.L.U., a significant player in the solar tracker market, has been selected as the supplier for their single-axis solar tracker for more than 30 PV plants generating more than 3 GW of power.
- The single-axis tracker is 50% costly than a fixed PV panel setup but provides an extra 25%-35% surge in capacity. Its simple design offers the highest density of PV panel placement per square and has a shorter payback time. Whereas, Dual-Axis Trackers provide extra 10% capacity enhancement but cost extra 100% of fixed PV panel setup.
- Therefore, the aforementioned factors such as efforts to improve existing solar PV capacity along with supportive government policies and upcoming projects are expected to drive the market during the forecast period.
North America to Dominate the Market
- North America is dominating the solar tracker market and expected to grow the market because of its current than 70 GW solar market in 2019.
- In December 2019, EDF Renewables, one of the largest renewable developers in North America, partnered with Array Technologies to supply 2 GW single-axis solar tracking equipment to deploy on projects that will be developed in the coming years.
- Rising concerns and protests for dependency on fossil fuels along with favourable government policies to adopt renewable will stimulate the Mexican solar tracker market. In March 2018, Enel group inaugurated PV plant that will be generating 1700 GWh electricity annually at a fully operational stage.
- In 2018, Magna International Inc. was awarded one of the most significant solar tracker installation projects in Canada, which is also working on the modification of 2.5 GW of fixed-tilt solar panels with single-axis solar trackers.
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What are the market factors that are explained in the report?
Executive Summary: It includes key trends of the global Single Axis Solar Tracker market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global Single Axis Solar Tracker market based on production and revenue.
Production and Consumption by Region: It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Single Axis Solar Tracker market.
Market Segments: This part of the report discusses product type and application segments of the global Single Axis Solar Tracker market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses the research methodology and approaches Single Axis Solar Tracker used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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How we have factored the effect of Covid-19 in our report:
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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IrfanTamboli (Head of Sales) – Market Insights Reports
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About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc.MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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