Press release
Illuminating The Path In The Solar Tracker For Power Generation Market - Your Ultimate Guide To Uncover Trends, Growth, And Strategies Beyond 2033
Solar Tracker For Power Generation Global Market Report 2024
The Business Research Company offers in-depth market insights through Solar Tracker For Power Generation Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The solar tracker market size has grown rapidly in recent years. It will grow from $9.22 billion in 2023 to $10.71 billion in 2024 at a compound annual growth rate (CAGR) of 16.2%. The growth in the historic period can be attributed to increased solar efficiency, falling solar costs, renewable energy incentives, energy independence, environmental awareness..
The solar tracker market size is expected to see rapid growth in the next few years. It will grow to $19.22 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to advanced tracking technologies, global solar installations, energy storage integration, efficiency improvements, emerging solar markets.. Major trends in the forecast period include single-axis vs. dual-axis tracking, smart and autonomous tracking, floating solar trackers, real-time monitoring and data analytics, climate-adaptive tracking..
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Market Segmentation:
The solar tracker for power generation market covered in this report is segmented -
1) By Product: Single Axis, Dual Axis
2) By Technology: PV, CSP
3) By Application: Residential Solar Tracker, Commercial and Industrial, Utility
Major Driver - Driving Forces In Renewable Energy Accelerating Growth In The Solar Tracker Market For Power Generation
The rising power demand for renewable energy sources is expected to propel the growth of solar trackers for the power generation market going forward. Renewable energy is the energy that comes from sources that are continuously replenished naturally, such as the sun, rain, geothermal heat, and waves. Solar trackers use renewable energy sources for the generation of power. For instance, according to the International Energy Agency (IEA) investment report 2021, a France-based autonomous intergovernmental organization for energy, the global power sector investment was expected to rise by 5% to more than $820 billion in 2021 over 2020. Renewables dominated new power generation investment, accounting for 70% of the $530 billion spent on all new power generation capacity in 2021. Therefore, the rise in power demand from renewable sources is driving the solar tracker for power generation market.
Competitive Landscape:
Major companies operating in the solar tracker for power generation market include NEXTracker Inc., Array Technologies Inc., PV Hardware Solutions S.L.U., Arctech Solar Holding Co. Ltd., Soltec Power Holdings SA, FTC Solar Inc., AllEarth Renewables Inc., Mechatron Solar Inc., Convert Italia SPA, SunPower Corporation, Trina Solar Co.Ltd., DEGERENERGIE GMBH & CO. KG, GameChange Solar Services India Pvt. Ltd., Soluciones Tecnicas Integrales Norland Sl, Ideematec Deutschland GmbH, MECASOLAR LLC, OPTIMUM TRACKER, Powerway Renewable Energy Co. Ltd., The Schletter Group, Xiamen Grace Solar Technology Co. Ltd., Jiangsu Aikang Industrial Group Co. Ltd., Dalian CDS Solar Energy Technology Co.Ltd., Clenergy Technology Co. Ltd., Amberroot Systems Pvt. Ltd., Ephysx Technologies Pvt. Ltd., Greenera Energy Pvt. Ltd., Hyquip Systems Ltd., Nordic Semiconductor, Canadian Solar Inc., Risen Energy Co. Ltd.
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Top Trend - Innovative Product Development Driving Evolution In The Solar Tracker Market For Power Generation
The development of innovative products is the key trend gaining popularity in the solar tracker for the power generation market. Major companies operating in the solar tracker for power generation market are focused on developing innovative products to strengthen their position in the market. For instance, in June 2021, Soltec, a Spain-based single-axis solar tracker manufacturer, launched the SFOne solar tracker. The new SFOne solar tracker is a highly adaptable solar tracker and can be used for any type of project across the globe. The stone now has a double row 1P configuration as well as Dy wind technology.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Solar Tracker For Power Generation Market Characteristics
3. Solar Tracker For Power Generation Market Trends And Strategies
4. Solar Tracker For Power Generation Market - Macro Economic Scenario
5. Solar Tracker For Power Generation Market Size And Growth
…..
27. Solar Tracker For Power Generation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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