Solar Tracker Market Size, Industry Research, Trends and Demand
Energy generated by trackers in a particular time frame and space is more than their stationary counterparts, as exposure to solar rays is more. Advancements in technology in mechanics & electronics have drastically transformed these systems over the few years.
Solar tracker tracks sunlight and changes orientation of payloads such as solar panels, Fresnel reflectors, parabolic troughs, mirrors, or lenses. They are used to minimize angle of incidence between a photovoltaic panel and sunlight to increase the amount of energy produced from such devices.
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Growth in demand for PV cells, requirement of high-efficiency solar cells, and favorable regulatory scenario are factors that fuel the growth in the global solar tracker market. However, high initial cost and high maintenance restrain the market growth.
Government initiatives to increase awareness about solar tracker and growth in demand for renewable energy sources create new opportunities in the industry.
The global solar tracker market is segmented on the basis of product, technology, application, and geography.
Based on product type,
single axis
dual axis.
Applications
utility
nonutility.
Technology segment is
CPV,
CSP, and
solar PV.
Geographically,
North America,
Latin America,
Asia-Pacific,
Europe, and
Middle East & Africa.
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Compony Profile Include key manufacturers that operate in the industry are
Wuxi Hao Solar Technology Co. Ltd.,
Abengoa Solar,
S.A.,
AllEarth Renewables, Inc.,
Array Technologies, Inc.,
DEGERenergie GmbH,
SunPower Corporation,
Grupo Clavijo Elt SL,
Titan Tracker SL,
and others.
These manufacturers have formulated strategies such as new product launches, collaborations, merger & acquisition, expansion, partnerships, joint ventures, and others to gain strong foothold and competitive edge in the global industry.
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