Solar Trackers Market, Global Industry outlook, Growth, Trends and Forecast, 2017 - 2025

Solar trackers are the devices used to orient photovoltaic panels toward the sun to harness more sunlight. Solar trackers are devices which enable solar modules to remain in the best position to accumulate maximum energy from the sun. These trackers are installed in residential, commercial and utility scale solar projects. Solar tracker comprises of numerous components and parts including sun tracking algorithms, control unit, positioning system, drive mechanism system, sensing devices, wind guard, tubes, and rods. Based on the forecast for the coming years, Europe is expected to show a decline in demand for solar trackers. China, the U.S., India and Japan are expected to be the major driving forces for generating the demand for solar trackers.

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Going beyond the local market is the current trend in the industry and hence, the market is becoming truly global. Key players such as Mecasolar, DEGERenergie, and Titan Tracker are following this trend. Flat-panel photovoltaic (PV), Concentrated Photovoltaic (CPV) and Concentrated Solar Thermal (CSP) are key technologies where solar trackers are applied. Solar trackers have unique functionalities in each application such as minimizing the angle of incidence between the photovoltaic panel and the incoming sunlight in PV applications and orienting the optics in CPV and CSP systems. At present CPV is an emerging technology in the solar energy industry. The CPV system produces low cost solar power due to low manufacturing cost and fewer raw material requirements. Around 85% to 90% solar panels can be recycled due to usage of glass and aluminum as raw materials.

This research study analyzes the market size of solar tracker, both in terms of volume (annual installation capacity, MW) and revenue (USD Million). The solar tracker market has been segmented on the basis of technology, product, application, and geography, in order to provide a holistic picture of the market. The study analyzes the factors governing the market growth followed by the regulations and restraining factors confining the market growth. Market data for all segments has been provided on a regional level for the period 2010 to 2020. A comprehensive competitive landscape of key companies has also been provided in this report.

Key technologies analyzed in the report include solar photovoltaic, concentrated photovoltaic (CPV) and concentrated solar power (CSP). Solar tracker product segments estimated in this study include single axis and dual axis solar trackers. Major applications analyzed in this report include utility and non-utility. Regional data have been provided for North America (U.S. and Canada), Europe (Spain, Italy, Germany and Greece), Asia Pacific (China, India and Japan), and Latin America (Brazil and Chile). The study estimates and forecast market size in terms of revenue (USD Million) and volume (MW) for each segment by country pertaining to demand and supply with respect to the rising electricity prices and inflation. The country wise estimation aids in evaluating the solar tracker market with a better holistic approach. 

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This report also includes Porter’s five forces model analysis, value chain analysis, and market attractiveness analysis by technology. The value chain analysis of the market determines the key participants and their role in adding the value to the end product. The study determines the checkpoints wherein manufacturing costs can be minimized through manipulation. Some of the key market participants that deal in solar tracker include Abengoa Solar, All Earth Renewables, Array technologies, DEGERenergie, Ecosun Ltd, Energia Ercam, Mecasolar, Titan Tracker, Mechatron, SmartTrak, and Soitec. The report provides an overview of these companies followed by their financial revenue, business strategies, and recent developments.

The research provides detailed analysis of companies dealing in solar tracker, trend analysis and demand forecast by geography. Various levels of market segmentation for which estimate and forecast has been provided are as follows:

Solar Tracker Market: Technology Analysis

Solar PV
Concentrated Photovoltaic (CPV)
Concentrated Solar Power (CSP)
Solar Tracker Market: Product Analysis
Single Axis
Dual Axis
Solar Tracker Market: Application Analysis
Utility
Non Utility
Solar Tracker Market: Regional Analysis
Solar Tracker Market: Regional Analysis
Europe (Spain, Italy, Germany and Greece
Asia Pacific (China, India and Japan)
Latin America (Brazil and Chile)

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