Solar Tracker Market Share, Trends, Future Outlook, Analysis and Forecast 2023-2030
The global solar tracker market is anticipated to grow at a modest CAGR during the forecast period. Solar Tracker which is also known as sun mounting equipment used to increase the electricity production of the solar panel by moving the panels towards the sun for the whole day. These devices change their orientation throughout the day to follow the sun's path to maximize energy capture. The trackers are normally used for ground-mounted solar panels and free-standing, large solar installations such as solar trees. The growing trend from shifting non-renewable to renewable energy is the major factor driving the demand for solar trackers. According to the International Renewable Energy Agency (IRENA), among all renewable technologies, solar PV power installations have been dominating the renewables industry for many years. Additionally, IRENA Remap analysis shows that solar PV power installations could grow almost six-fold over the next ten years, reaching a cumulative capacity of 2 840 GW globally by 2030 and rising to 8 519 GW by 2050. This implies total installed capacity in 2050 almost eighteen times higher than in 2018 (480 GW). Thus, the more the number of solar PV installations, the more demand for solar trackers will be more, which will further drive the market for solar trackers.To learn more about this report request a sample copy @ https://www.omrglobal.com/request-sample/solar-tracker-market
Growth in solar energy projects, funding from solar tracking systems and the contribution of many countries towards reducing carbon emission are also the factors contributing to the growth of the market. For instance, Brazil claims that by 2030, it will increase the use of non-fossil fuel energy sources domestically, and increasing the use of renewable energy sources by 28%-30%. Besides, the market players are also contributing towards the market growth by producing cost-effective solar trackers to increase the energy production from solar panels. For instance, in May 2019, Arctech Solar had launched its research achievement SkySmart-2, the first independent single-axis tracking system for providing better stability for PV plants in extreme weather conditions. Thus, the above factors are expected to increase the market growth during the forecast period.
Market Coverage
The market number available for - 2020-2027
Base year- 2020
Forecast period- 2021-2027
Segment Covered-
o By Type
o By Technology
o By End-User
Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Competitive Landscape- Abengoa S.A., Arctech Solar Holding Co., Ltd, Array Technologies, Inc., Nextracker Inc, Scorpius Trackers Pvt. Ltd., SOLTEC ENERGÍAS RENOVABLES, S.L., Sun Action Trackers, SunPower Corp., Trina Solar Ltd., among others.
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
Global Solar Tracker Market Report by Segment
By Type
Single Axis Tracker
Dual Axis Tracker
By Technology
Photovoltaic System (PV)
o Monocrystalline Silicon PV Panels
o Polycrystalline Silicon PV Panels
o Thin-Film Silicon PV Panels
Concentrated Solar Power (CSP)
Concentrator Photovoltaics (CPV)
By End-User
Commercial
Residential
Industrial
Others
A full report of Solar Tracker Market is available at: https://www.omrglobal.com/industry-reports/solar-tracker-market
Solar Tracker Market- Segment by Region
North America
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
Latin America
Company Profiles
Abengoa S.A.
Allearth Renewables
ArcelorMittal Group
Arctech Solar Holding Co., Ltd
Array Technologies, Inc.
BIG SUN Energy Technology Inc
GameChange Solar
Ganges Internationale Pvt. Ltd
Mahindra SustenPvt. Ltd.
Nextracker Inc.
Scorpius Trackers Pvt. Ltd.
SOLTEC ENERGÍAS RENOVABLES, S.L.
SoltiguaSRL
Sun Action Trackers LLC
SunPower Corp.
Reasons to Buying From us -
We cover more than 15 major industries, further segmented into more than 90 sectors.
More than 120 countries are for analysis.
Over 100+ paid data sources mined for investigation.
Our expert research analysts answer all your questions before and after purchasing your report.
Media Contact:
Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
Contact no: +91 780-304-0404
Company Name: Orion Market Research
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
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