Global Solar Tracker Market to expand over 30 GW through 2025

December 20, 2019


According to the research report titled ‘Solar Tracker Market Size By Product (Single Axis {Horizontal, Vertical}, Dual Axis), By Application (Residential, Commercial, Utility), Regional Outlook (U.S., Canada, Mexico, UK, France, Netherlands, Germany, Sweden, Russia, Spain, Austria, China, Australia, India, Japan, South Korea, South Africa, Egypt, Algeria, Nigeria, Morocco, Saudi Arabia, UAE, Jordan, Israel, Brazil, Chile), Industry Analysis Report, Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global solar tracker market is projected to register installation of over 30 GW through the year 2025.
 

Growing inclination towards renewable energy as well as favorable government policies has accelerated the deployment of solar energy solutions. Surging investments toward the development of commercial facilities such as shopping malls, hospitals, and schools have fueled the deployment of solar panels to cater continuous electricity demand. Burgeoning electricity demand on account of rapid urbanization and commercialization across the globe would fuel the global solar tracker market over forecast period.
 

Government authorities across the world are introducing several polices and reforms to curb carbon emissions through renewable energy solutions. Governments’ focus towards deploying PV generation systems would augment the solar tracker market in the forthcoming years. Surging installation of large-scale solar PV projects by utilities would foster demand for solar trackers, cites the report.
 

Over the past few years, end users are deploying solar trackers to increase the capacity utilization factor and avail benefits from government in the form of subsidies, incentives, and tax credits. Moreover, falling PV technology costs and high electricity tariffs for commercial establishment would fuel the industry outlook.
 

Based on the product, dual-axis solar tracker segment is expected to witness tremendous demand owing to its capability to offer two-degree flexibility. It increases energy generation by approximately 45% when compared to a conventional photovoltaic system. These systems are observing strong demand across Concentrated Solar Power (CSP)and Concentrator Photovoltaics (CPV) power plants.  Moreover, these energy products have observed a wide-scale installation on account of their high efficiency, which in turn would stimulate the solar tracker market growth.
 

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Rapidly falling solar panel prices and ongoing implementation of stern environmental reforms have led to large scale deployment of solar trackers across North America.
 

Key market players operating in solar tracker industry include SunPower Array Technologies, Meca Solar, Powerway, Abengoa Solar, etc. Companies operating in this segment are developing cutting edge and cost-effective products to be at the forefront of the industry.


Frequently Asked Questions (FAQ) :

Government authorities accords the world are introducing several polices and reforms to curb carbon emissions through renewable energy solutions. Governments’ focus towards deploying PV generation systems would augment the solar tracker market in the forthcoming time. Surging installation of large-scale solar PV projects by utilities would foster demand for solar trackers. Over the past few years, end users are deploying solar tracker to enhance the capacity utilization factor and avail benefits from government in the form of subsidies, incentives and tax credits. Moreover, falling PV technology costs coupled with high electricity tariff for commercial establishment would fuel the industry outlook.
Growing inclination towards renewable energy as well as favorable government policies has accelerated the accelerated the deployment of solar energy solutions. Surging investments toward the development of commercial facilities such as shopping malls, hospitals, and schools have fueled the deployment of solar panels to cater continuous electricity demand. Burgeoning electricity demand on account of rapid urbanization and commercialization across the globe would fuel the adoption of solar energy systems.
Based on the product, dual axis solar tracker is expected to witness tremendous demand owing to its capability to offer two-degree flexibility. It increases energy generation by approximately 45% when compared to a conventional photovoltaic system. These systems are observing strong demand across Concentrated Solar Power (CSP)and Concentrator Photovoltaics (CPV) power plants. Moreover, these energy products have observed wide scale installation on account of their high efficiency, which in turn would stimulate the solar tracker market growth.
Key market players operating in the solar tracker segment include SunPower Array Technologies, Meca Solar, Powerway, Abengoa Solar etc. Companies operating in this segment are developing cutting edge and cost-effective product to be at the forefront of the industry.