A tracker is used to direct the solar panel towards the sunlight continuously by changing the orientation of the panel corresponding to changing the position of the sun. This help the solar panels to capture the maximum of the sun’s energy throughout the day and increase its power output ratio. The global solar tracker market was estimated to be at 16.53 GW of capacity in 2018. The market is primarily driven by the increasing demand for energy, rising environmental concerns, and awareness coupled with the depleting fossil fuel around the globe.
Global Solar Tracker Market study analyzes various aspects of the market using value chain analysis, PESTEL analysis, and Porter’s five forces analysis. The report also covers various qualitative aspects of the market such the market drivers, restraint and trends that are likely to drive the growth of the market during the forecast period. Furthermore, the report provides an in-depth analysis of the key players in the market by mapping their product offerings and key initiatives that are projected to impact the market.
Get more insights at: Global Solar Tracker Market 2019-2025
Growth of Solar Tracker Industry
The trackers in the solar panels are used to direct the panels towards the sunlight. These trackers are designed to change the panel’s orientation through the day following the sun’s path to capture maximum energy. Thus, solar panels are successfully increasing the power output ratio of the solar panels. Owing to this increased power output, the utility sector has widely adopted the solar tracker which is boosting the growth of the global solar tracker market. Further, favorable government initiatives such as the National Community Solar Partnership in the United States and International Solar Alliance in India are presenting a good growth opportunity for solar energy thus driving the global solar tracker market
Global solar tracker market is segmented in a single axis and dual axis solar tracker. Single axis solar trackers are cost-effective, thus have surged in demand. Owing to this, single-axis solar trackers are expected to account for more than half of the market share in terms of volume capacity in the global solar tracker market by 2025. Dual axis solar trackers are anticipated to show the fastest growth rate as they achieve maximum power output on account of their two degrees of freedom that acts on axes of rotation allowing it to move through two axes capturing more sunlight.
SunPower Corporation, Convert Italia SpA, Soltec Renewable SL, Game Change Solar and First Solar Inc., Nextracker Inc., Array Technologies Inc. and, Soltec Energías Renovables, SL.
Get more details about Global Solar Tracker Market:
Global solar tracker market is segmented in utility and non-utility sector. The utility sector is estimated to account 33.94 GW capacity in the global solar tracker market by 2025. The ever increasing demand for energy and shortfall in supply has created a gap, which is increasing the cost per unit. Owing to this utility segment is currently shifting to renewable and sustainable sources of energy such as solar which is boosting the demand for tracker in the market.
Segment overview of global solar tracker market
- Product Overview
- Single axis
- Dual axis
- Technology Overview
- Photovoltaic (PV)
- Concentrated photovoltaic (CPV)
- Concentrated solar power (CSP)
- Application Overview
- Regional Overview
- North America
- Asia Pacific
- South America
- Middle East & Africa
For Any Query on the Solar Tracker Market
Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
Account Manager Global
3131 McKinney Ave Ste 600, Dallas,
TX 75204, U.S.A
Phone No.: USA: +1 972-362 -8199 / +91 9665341414
This post was originally published on Crypto Coin Guardian