Solar Tracker Market 2021 Global Key Players, Challenges, Industry Size, Growth Opportunities And Forecast TO 2027

The emergence of reliable renewable energy sources is extricating the energy sector from production deficits and gas-emission challenges. Development of robust facilities for solar and wind energy production has caused an inrush of renewable energy sources across the world. Solar trackers are an important component of the solar energy infrastructure which is undergoing rapid advancements in recent years. Rapid installation of solar panels across commercial, industrial, and residential sectors is expected to drive demand within the global solar tracker market. The overarching role played by solar trackers in maximizing energy output from solar panels has given an impetus to their popularity. As photovoltaic technologies get the better of the solar energy industry, use of solar trackers shall serve as a key differentiator between intermediate and high-energy installations.

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The use of solar trackers is found to increase the total electricity output of an installation. In some regions, these trackers can improve the electricity output by as much as 40%, depending on the angle of adjustment. Therefore, solar tracker technology is projected to attract humongous demand in the years to follow.

Double-Axis Solar Trackers to Attract Tremendous Attention from the Solar Energy Sector

Single-axis solar trackers, available in varying configurations such as vertical, horizontal, and tilted, offer resilience to solar panels and parabolic troughs. Polar-aligned models of these trackers ensure better orientation of lenses and Fresnel reflectors. Therefore, the demand for single-axis solar trackers is expected to remain afloat in the times to follow. Despite the popularity of single-axis trackers, there is little contention about the undisputed leadership of dual-axis solar trackers in terms of demand and utility. These trackers offer greater resilience in optimizing solar energy production, and are more streamlined to perform the designated function.

Apprehensions Related to Early Depreciation of Solar Trackers Could Restrain Market Growth

Solar trackers are prone to a number of threats including weather fluctuations, irregular maintenance, and cumbersome replacement processes. These factors could erode the trust of commercial and residential sectors in the efficiency of solar trackers. Furthermore, heavy storms have the potential to damage the entire solar tracker ecosystem across a solar farm. This could translate into heavy losses in the form of negative ROIs and prolonged loss of energy capacity. However, solar energy facilities can mitigate these challenges by making the right selection of trackers based on weather, latitude, and system size.

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Investments in Solar Power to Unlock Several Growth Opportunities across North America

The solar energy sector in the US has attracted formidable investments in recent years. In 2019, US held 50% share of solar tracker shipments, pointing to the lucrative growth opportunities across the regional solar industry. Furthermore, government incentives towards improving solar energy output in the region has also driven demand for solar trackers across the US market. In light of these factors, it is safe to predict that the solar tracker market in North America shall tread along a lucrative pathway.

Some of the prominent names in the global solar tracker market are Powerway Renewable Energy Co. Ltd., Abengoa Solar S.A., Artech Solar, NClave, PV Hardware, and Array Technologies, Inc.

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