Global Solar Tracker Market, By Technology (Solar Photovoltaic (PV), Concentrated Photovoltaic (CPV), Concentrated Solar Power (CSP)), Product Type (Single Axis, Dual Axis), Application (Utility, Non-Utility, Others), End User (Residential, Commercial, Utility), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Solar Tracker Market
Solar tracker market size is expected to grow at a compound annual growth rate of 33.10% for the forecast period of 2021 to 2028. Data Bridge Market Research report on solar tracker market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Solar tracker is used to direct the solar panel towards the sunlight constantly by changing the direction of the panel parallel to changing the position of the sun. This helps the solar panels to confine the utmost of the sun’s energy all through the day and increase its power output ratio.
The rising numbers of government incentives to support the value and use of solar panels has highly influenced growth of the solar tracker market. In line with this, the increasing focus on utility scale projects along with stringent clean energy targets and growing off grid electricity demand are also acting as a key determinant favoring the growth of the solar tracker market over the forecast period of 2021 to 2028. Also the, growing demand for energy, increasing environmental concerns and growing awareness associated with the depleting fossil fuel around the world are also positively impacting the growth of the solar tracker market. The major factor accountable for the growth of the market is the decreasing wind and solar component cost. Beside this, the growing concern over energy conservation and transition from nonrenewable energy to renewable energy is also flourishing the growth of the solar tracker market. However, the lack of required infrastructure and lack of awareness may act as key restraint towards solar tracker market growth rate in the forecast period of 2021 to 2028, whereas the high initial and installation cost have the potential to challenge the growth of the solar tracker market in the above mentioned forecast period.
Furthermore, the constant product innovation in solar technology as well as the increasing adoption of IoT and artificial intelligence will further offer a variety of growth opportunities for the solar tracker market in the above mentioned forecast period.
This solar tracker market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on solar tracker market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Solar Tracker Market Scope and Market Size
Solar tracker market is segmented on the basis of technology, product type, application and end users. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of technology, the solar tracker market is segmented into solar photovoltaic (PV), concentrated photovoltaic (CPV) and concentrated solar power (CSP).
- On the basis of product type, the solar tracker market is segmented into single axis and dual axis. Single axis is further segmented into horizontal and vertical.
- Based on application, the solar tracker market is segmented into utility, non-utility and others.
- The end users segment for solar tracker market is segmented into residential, commercial and utility.
Solar Tracker Market Country Level Analysis
Solar tracker market is analyzed and market size, volume information is provided by country, technology, product type, application and end users as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America leads the solar tracker market because of the growing emphasis on renewable energy along with the rising R&D programs and stringent regulations for regulating environmental emissions in this particular region. Middle East and Africa is expected to expand at a significant growth of the over the forecast of 2021 to 2028 due to high potential and rapid increase in investments in the projects within this particular region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Solar Tracker Market Share Analysis
Solar tracker market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to solar tracker market.
The major players covered in the solar tracker market report are Nextracker Inc., Array Technologies, Inc., Abengoa, Powerway Renewable Energy Co., Ltd., Trina Solar, Haosolar Co. Ltd, Soltec, Scorpius Trackers, AllEarth Renewables, DEGERENERGIE GMBH & CO. KG, Arctech, First Solar, Convert Italia, PVHardware, SunPower Corporation, MECASOLAR, STI Norland, GameChange Solar, Gonvarri Industries, ArcelorMittal and Ideematec among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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