Press release
Top Market Shifts Transforming the Solar Tracker For Power Generation Market Landscape: Key Insights
Solar Tracker For Power Generation
What Is the Expected CAGR for the Solar Tracker For Power Generation Market Through 2025?
In the past few years, the market size for solar trackers for power generation has significantly expanded. The projected growth from $7.29 billion in 2024 to $7.81 billion in 2025, equivalent to a compound annual growth rate (CAGR) of 7.2%, indicates its vibrant evolution. Factors contributing to this growth in the historic period include improved solar efficiency, declining solar costs, incentives for renewable energy, energy self-sufficiency, and heightened environmental consciousness.
What's the Projected Size of the Global Solar Tracker For Power Generation Market by 2029?
The market for solar trackers used in power generation is projected to witness robust growth in the coming years, expanding to a size of $11.06 billion in 2029, with a compound annual growth rate (CAGR) of 9.1%. This anticipated growth during the forecast period is driven by factors such as the advent of advanced tracking technologies, the worldwide installation of solar modules, the integration of energy storage systems, improvements in efficiency, and the advent of new solar markets. The upcoming trends during the forecast period encompass single-axis against dual-axis tracking, intelligent and autonomous tracking systems, floating solar trackers, real-time surveillance and data analysis, plus climate-responsive tracking.
View the full report here:
https://www.thebusinessresearchcompany.com/report/solar-tracker-for-power-generation-global-market-report
Top Growth Drivers in the Solar Tracker For Power Generation Industry: What's Accelerating the Market?
The expected surge in solar panel installations worldwide is anticipated to drive the solar tracker market's expansion. This surge is being fuelled by government commitments towards renewable energy initiatives as well as the rising trend among households to invest in eco-friendly power sources, thereby greatly increasing the rate of global solar panel installations. As solar trackers are extensively utilized in new installations to improve energy yield and efficiency, their market is expected to directly benefit from the rise in solar panel installations. For example, SolarPower Europe, a Belgium-based organization representing the European solar PV industry, reported that in 2023, solar panels with a capacity of 447 gigawatts (GW) were set up across Europe, almost twice the 239 GW installed the previous year. Consequently, the predicted rise in solar panel installations during the forecasted period is expected to enhance the demand for solar trackers.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6947&type=smp
Which Fast-Growing Trends Are Poised to Disrupt the Solar Tracker For Power Generation Market?
Innovation in product development is becoming a crucial trend in the solar tracker industry. Top businesses in this industry are keen on creating new products tailored to meet technical requirements of the sector, thereby bolstering their global market standing. Take the case of Soltec, an electrical service firm from Spain, which in July 2024, introduced its 4×4 system for the SFOne solar tracker. The system is crafted to adapt to a variety of terrains and sites. It permits solar trackers to function on persistent slopes of up to 15% in both North-South and East-West directions, and accommodates non-stable slopes of up to 20%. The 4×4 feature reduces the need for extensive land preparation, making it ideal for challenging landscapes. It also comes with adaptable software to streamline both the layout and installation phases, ultimately improving project efficiency.
What Are the Main Segments in the Solar Tracker For Power Generation Market?
The solar tracker for power generation market covered in this report is segmented -
1) By Product: Single Axis, Dual Axis
2) By Technology: Solar Photovoltaic (PV), Concentrated Solar Power (CSP)
3) By Application: Residential Solar Tracker, Commercial and Industrial, Utility
Subsegments:
1) By Single Axis: Horizontal Single Axis Trackers, Vertical Single Axis Trackers, Tilted Single Axis Trackers
2) By Dual Axis: Horizontal Dual Axis Trackers, Vertical Dual Axis Trackers, Polar Dual Axis Trackers
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=6947&type=smp
Which Top Companies are Driving Growth in the Solar Tracker For Power Generation Market?
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.
Which Regions Will Dominate the Solar Tracker For Power Generation Market Through 2029?
North America was the largest region in the solar tracker market in 2024. The regions covered in the solar tracker market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=6947
Reach out to us:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Europe - +44 7882 955267,
Asia: +91 88972 63534,
Americas - +1 310-496-7795 or
Email:info@tbrc.info
Follow Us On:
• LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
With over 17500+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead. Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Top Market Shifts Transforming the Solar Tracker For Power Generation Market Landscape: Key Insights here
News-ID: 4258624 • Views: …
More Releases from The Business Research Company
Electronic Flight Bag Market Landscape to 2034: Key Forces Shaping the Next Deca …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Electronic Flight Bag Market Size By 2025?
The market size for electronic flight bags has seen steady growth in the past years. The market is expected to expand from a value of $3.64 billion in 2024 to about $3.97 billion in 2025, with a compound…
Soaring Demand Set to Propel Electric Fuse Market to $5.91 Billion by 2029
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Electric Fuse Market Through 2025?
In recent times, there has been a consistent growth in the electric fuse market size. The market is projected to expand from a worth of $4.45 billion in 2024 to $4.64 billion in 2025, marking a compound…
Emerging Trends to Drive Data Center UPS Market Growth at 7% CAGR Through 2029
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Data Center UPS Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been a steady increase in the size of the data center UPS market. The market value, which is projected to be at $5.33 billion in 2024, is expected to register a growth…
Chemical Mechanical Planarization Market: Major Trends Reshaping the Future of t …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Chemical Mechanical Planarization Industry Market Size Be by 2025?
The market size for chemical mechanical planarization has seen robust growth in the past few years. It is projected to expand from a value of $4.65 billion in 2024 to $4.89 billion in 2025, with a compound…
More Releases for Solar
Biohybrid Solar Cell Market Professional Survey Report 2022 - Jinko Solar, JA SO …
The Biohybrid Solar Cell Market Report 2022 provides a comprehensive analysis of observable trends and projections. This research shows how to attract a large number of customers. Our certified crew of economists, researchers, and advisers has made further attempts in projecting the global industry by utilising accredited global Biohybrid Solar Cell market information tools as well as various instruments and ways to successfully review and get information. The research argues…
Home Solar Power System Market Size, Share, Trends, Growth - Tesla, Panasonic So …
The Global Home Solar Power System Market study includes new innovations, market dynamics, strategic profiling in terms of the future market strategies and shares for the subsectors of the industry. This research consists of details related to the size of the industries, the major players, markets, sales volume and value. This study offers a detail data on the historical data pointers as well as forecasts by region/country for the sectors…
Solar PV Module Market Outlook To 2024 - Trina Solar, Canadian Solar Inc., JA So …
Solar PV module market from utility sector has witnessed a substantial growth globally in recent years. In the first quarter of the year, Vietnam's Ministry of Industry and Trade have talked about their FiT scheme related to utility-based solar power projects. Ongoing electrification programs and incentives benefit pertaining to grid connected power generation is surging the demand for on-grid solar PV modules. On-grid connection represented 55% of the overall solar…
Solar Simulator Market Distribution Channel 2019: Spire Solar, Solar Energy Inte …
Solar Simulator Market report aims to examine the developments of market including its market improvements, developments, positions and others.
This report on the Solar Simulator market offers explanatory knowledge on the market parts like dominating players, drivers and restraints, production, revenue, consumption, import and export, and the most effective development within the organization size, deployment type, inside, segmentation comprised throughout this analysis, also major the players have used various strategies such…
Solar PV Module Market By Key Vendors: Trina Solar, Canadian Solar Inc., JA Sola …
UK solar PV module market is set to expand owing to government initiatives towards sustainable energy integration. The export tariff introduced by the UK government facilitates USD 0.06 per unit for the surplus electricity injected back to the grid by the generator. Favorable government reforms with ambitious plan towards carbon footprint reduction will further boost the business outlook.
Request for a sample of this research report @
https://www.gminsights.com/request-sample/detail/1563
Solar PV Module Market size…
Global Solar Thermal Market 2016 Abengoa Solar, SUPCON Solar, Solar Euromed
Global Solar Thermal Market Research Report
The MRS Research Group Solar Thermal report by QY Research represents an inclusive evaluation of the Solar Thermal Market and comprises considerable insights, historical data, facts,and statistical and industry-validated data of the global market.Additionally,it consists of estimated data that is evaluated with the help of suitable set of methodologies and assumptions.The MRS Research Group report research highlights informative data and in-depth analysis of Solar Thermal…
