Solar Tracker market revenue is estimated to be $XX Billion in 2019 and shall grow with a CAGR of XX.X% during the forecast period of 2019 to 2026.
A Solar Tracker is an optional device integrated with a Solar PV Farm that moves the panels along an axis so that they face the sun directly. This helps extract the most amount of energy from a solar cell.
Analysis by Product
According to the Product, the two main segments are Single Axis and Dual Axis. Single Axis is further classified into Horizontal and Vertical movement enables trackers. A Solar Tracker market report states the higher energy production from Dual-Axis trackers. This is because of its ability to move the panels in the North-South as well as East-West directions. Additionally, the dual-axis trackers can also be consolidated with Global Positioning System (GPS) to ascertain the coordinates and Data & Time of the operations. Another Solar Tracker market research indicates the growing trend of installation of Dual-Axis trackers across various industries. This is true for both, Concentrated Solar Power (CSP) and CPV (Concentrated Photovoltaics).
Analysis by Application
According to the application, the three major segments are Residential, Commercial, and Utility. The Solar Tracker market share is dominated by the Utility segment. The companies in this segment work on the Levelized Cost of Energy for generating profits. The Solar Tracker market size will gain further accolades owing to the better Capacity Utilization Factor than their counterparts. A Solar Tracker market estimation suggests that the plummeting solar PV costs and favorable Government policies will drive this industry towards rapid growth. The commercial segment includes Malls, Theatres, and Hospitals. These institutions have also been offered fiscal incentives to utilize Solar PV to produce electricity for their core business. Programs such as Net metering allow them to sell the excess power to the grid at competitive prices.
Analysis by Region
The Solar Tracker market forecast has excellent prospects for the North American region. Environmental concerns and affordability of Solar PV panels will create a demand-pull for Solar PV installations as well. The improved capacity utilization is gaining traction among the utility and commercial business entities in the fray. One of the largest contributors to affordable capital costs in today’s time is the R&D efforts of a select few companies. This has led to a Solar Tracker price trend that is both competitive for the users as well as remunerative for the manufacturers. Moreover, the ancillary equipment is also witnessing a reduction in prices, thereby making the entire eco-system affordable. Lastly, strong government support by way of facilitating credit and favorable payment terms will also give the required impetus to the industry.
Analysis by Leading Companies
Some of the eminent companies in this space are NEXTracker, Array Technologies, Abengoa Solar, SunPower, Meca Solar, Powerway, Trina Solar, Haosolar, SOLTEC, SmartTrak Solar Systems, Scorpius Trackers, AllEarth Renewables, DEGERenergie, Titan Tracker, First Solar, Convert Italia, PV Hardware, STI Norland, GameChange Solar, and Gonvarri Steel. Research & Development will be key to success in this industry. Most efforts are placed on improving the panel power production efficiency as a ratio of the sunlight drawn on it. Integration with companies offering Balance of Systems will also be vital in offering a finished product to the users. Other industries in this domain that are growing at a high CAGR include Solar Trash Compactors Market and Solar MicroInverter Market.
COVERAGE HIGHLIGHTS
● Market Revenue Estimation and Forecast (2019 – 2026)
● Market Production Estimation and Forecast (2019 – 2026)
● Market Sales/Consumption Volume Estimation and Forecast (2019 – 2026)
● Breakdown of Revenue by Segments (2019 – 2026)
● Breakdown of Production by Segments (2019 – 2026)
● Breakdown of Sales Volume by Segments (2019 – 2026)
● Gross Margin and Profitability Analysis of Companies
● Business Trend and Expansion Analysis
● Import and Export Analysis
● Regional Analysis and Market Data Breakdown
MARKET SEGMENTATION
By Product Outlook ($Revenue and Unit Sales, 2019-2026)
• Single axis
o Horizontal
o Vertical
• Dual axis
By Application Outlook ($Revenue and Unit Sales, 2019-2026)
• Residential
• Commercial
• Utility
By Regional Outlook ($Revenue and Unit Sales, 2019-2026)
• North America
o U.S.
o Canada
o Mexico
• Europe
o UK
o France
o Netherlands
o Germany
o Sweden
o Russia
o Spain
o Austria
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia Pacific
• Africa
o South Africa
o Egypt
o Algeria
o Nigeria
o Morocco
o Rest of Africa
• Middle East
o Saudi Arabia
o UAE
o Jordan
o Israel
o Rest of Middle East
• Latin America
o Brazil
o Chile
o Rest of Latin America
Leading Companies
• Array Technologies
• Abengoa Solar
• SunPower
• Meca Solar
• Powerway
• Trina Solar
• Haosolar
• SOLTEC
• SmartTrak Solar Systems
• Scorpius Trackers
• AllEarth Renewables
• DEGERenergie
• Titan Tracker
• Arctech Solar
• First Solar
• Convert Italia
• PV Hardware
• STI Norland
• GameChange Solar
• Gonvarri Steel
