Solar Tracker Market Outlook by Single/Dual Axis Module, Latest technologies, Top-Ranking Manufacturer & Field Applications, Forecast Spell 2018-2025

Jan 3, 2019

The global market for solar trackers has positively exploded in 2018. Research report on solar tracker industry 2018 focus on evolution analysis & in-depth research on developments, trends, key vendors & growth factors during 2018 to 2025.

Dallas, United States - January 3, 2019 /MarketersMedia/ —

Adroit Market Research studied “Global Solar Tracker Market, by product (Single Axis and Dual Axis), by technology [Photovoltaic (PV), Concentrated Photovoltaic (CPV) and Concentrated solar power (CSP)] by application (Utility and Non-Utility) and by region (North America, Europe, South America, Asia Pacific and Middle East & Africa) size and forecast 2015-2025”. The Study includes global solar tracker market size till 2025 along with company summaries which include company overview, product offering, and recent developments and financial overview.

The global solar tracker market size is expected to reach to 39GW capacity by the end of 2025. Increasing awareness about sustainable & renewable sources of energy coupled with numerous government initiatives and demand & supply gap, a worldwide power shift to solar energy is underway driving the growth of the global solar tracker market during the forecast period.

Download PDF Brochure of Solar Tracker Market Research Report @ https://www.adroitmarketresearch.com/contacts/request-sample/544

A single axis solar tracker system is a method wherein the solar panel tracks the sunlight from east to west along a single pivot point to rotate. Horizontal, vertical and tilted single axis are the different types of single axis solar tracker. Single axis is more cost-efficient and hence have surged in demand accounting to more than 60% share in the global solar tracker market by the end of 2025. To gain maximum efficiency, orientation of the system with respect to tracker axis is most important and dual axis have showed increased power output ratios as it shows two degree of freedom that acts on axes of rotation. Thus, the dual axis is predicted to surge in demand with a strong growth rate of 14.6% by the end of 2025 in global solar tracker market.

Based on technology, photovoltaic solar trackers will dominate at 70% share by 2025 in global solar tracker market. Photovoltaic panels take both direct and diffuse sunlight to produce electric energy increasing its power output. In the photovoltaic solar tracker system, the tracker will be serving in minimizing the angle of incidence between the sunlight and the panel which increases the amount of energy the installation generates. Improved power output and efficiency coupled with increased electricity cost due to the supply-demand gap, photovoltaic solar trackers have surged in demand and are likely to dominate as no direct substitute is expected in the global solar tracker market during the forecast period.

Utility accounted to more than 80% share in the global solar tracker market. Rising demand coupled with increasing cost of electricity, utility are now shifting to renewable sources such as solar energy are projected to surge the demand for solar trackers. Similarly; smart city projects, reducing cost of solar trackers and government schemes across the globe are expected to boost the demand of solar trackers in non-utility sector of the global solar tracker market.

Browse the complete report @ https://www.adroitmarketresearch.com/industry-reports/solar-tracker-market

Jawaharlal Nehru National Solar Mission, Rooftop scheme executed by SECI (Solar Energy Corporation of India) and Ujjwal Discom Assurance Yojna are few of the key initiatives by the government of India. Owing to these initiatives a shift towards solar energy is seen increasing the adoption to solar trackers. Players such as Nextracker, Mahindra Susten, and Arctech Solar are investing heavily in the country to cater the potential market, thus India is projected for a strong growth during the forecast period in global solar tracker market. For instance, in 2016, NEXTracker a players in global solar tracker market announced that it had delivered India’s largest solar tracker power plant with collaboration with Adani Power Ltd. in the state of Punjab with a capacity of 105 MW. Similarly, in China, more than 500 smart city project are underway and are expected to increase the demand for sustainable solar energy, hence solar trackers are projected to surge driving the market growth in the country. Asia Pacific, is thus projected to witness a strong growth at a CAGR of 17.19% in the global solar tracker market.

The global solar tracker market is dominated by players such as Array Technologies Inc., Arctech Solar, Soltec Renewable SL and NEXTracker Inc. To support the growing demand major players are setting up manufacturing facilities across geography and are also focused on partnerships with local players. For instance in 2016, NEXTracker Inc. partnered APL Apollo Tubes Ltd a player in the steel market in India. The aim to the partnership was to cut down time required for shipment of steel tubes and piers which form the backbone of the solar tracker system by sourcing them locally. Other players associated with the global solar tracker market are Convert Italia SpA, Soltec, Mahindra Susten, SunPower Corporation, GameChange Solar and First Solar.

Segment overview of global solar tracker market

Product Overview, 2012-2025 (Mw units)
Single axis
Dual axis
Technology Overview, 2012-2025 (Mw units)
Photovoltaic (PV)
Concentrated photovoltaic (CPV)
Concentrated solar power (CSP)
Application Overview , 2012-2025 (Mw units)
Utility
Non-Utility
Regional Overview, 2012-2025 (Mw units)
North America
U.S.
Canada
Mexico
Europe
France
Germany
Spain
Rest of Europe
Asia Pacific
India
Japan
China
Rest of Asia Pacific
South America
Brazil
Argentina
Chile
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
Jordan
Rest of MEA
Rest of Middle East and Africa

Else place an Inquire before Purchase “Solar Tracker Market Size, Status and Forecast 2025: https://www.adroitmarketresearch.com/contacts/enquiry-before-buying/544

About Adroit Market Research:

Adroit Market Research provide quantified B2B research on numerous opportunistic markets, and offer customized research reports, consulting services, and syndicate research reports. We assist our clients to strategize business decisions and attain sustainable growth in their respective domain. Additionally, we support them with their revenue planning, marketing strategies, and assist them to make decisions before the competition so that they remain ahead of the curve.

Contact Info:
Name: Ryan Johnson
Email: Send Email
Organization: Adroit Market Research
Address: 3131 McKinney Ave Ste 600
Phone: +1-214-884-6068
Website: https://www.adroitmarketresearch.com/industry-reports/solar-tracker-market

Source URL: https://marketersmedia.com/solar-tracker-market-outlook-by-singledual-axis-module-latest-technologies-top-ranking-manufacturer-field-applications-forecast-spell-2018-2025/465268

Source: MarketersMedia

Release ID: 465268

More News

YOUR NEWS, OUR NETWORK.

Do you have Great News you want to tell the world?

Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.