The Solar PV Tracker Technology is going to change the way energy is being generated from solar systems around the world. Solar trackers are fast becoming an essential component in a solar power system, be it utility, commercial, or residential level, as they have tremendous influence in increasing the efficiency of the solar power generation systems. As the solar tracker can increase the efficiency by at least 15-30 %, it is highly sought for enhanced performance of solar power generation systems. By enhanced operation it generally refers to the increased operational efficiency of solar panels through constant exposure to maximum radiation.
The Solar PV Tracker Technology is expected to have an immediate impact on the utility and commercial scale large solar power plants as operational efficiency is critical to the project success. Global solar panel power producers are looking into maximizing operational flexibility and efficiency, and solar trackers offer them both. By generating more energy when the sun is available, operators can store and use the excess energy at night, or they can export more power to the grid and expect more tariff rates. However, high upfront and maintenance costs associated with solar trackers, coupled with the inability of tracker systems to withstand external disturbances are potentially hindering the growth of the Solar PV Tracker Systems Market.
The solar power industry is witnessing a lot of developments in the recent years. Panel efficiency has been the prime interest of the manufacturers as that will determine their market position. However, laboratory efficiency achieved by them and the real-world operational efficiency gained had a significant gap that could not be matched earlier. Solar tracker systems are expected to match that drop in power generation as they have significant external influence in how the panel operates by following the radiation patterns of the sun, which helps the solar power system operators.
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In terms of end-use, the Solar PV Tracking Systems find huge potential in the utility sector as they are always operated to produce higher electricity from panels. Dual-axis type tracking systems have been the major choice by power systems operators for utility scale application. For small-scale residential and commercial projects, having a single axis controller is sufficient as they always operate to supplement the existing energy consumption pattern.
The Global Solar PV Tracker Market is estimated to grow at ~ 18% CAGR during the forecast period.
Asia-Pacific region in Solar PV Tracker market holds the highest market share in 2017.
The Asia-Pacific region is expected to dominate the market as the region is experiencing higher solar power installation than any other region. Favorable policy support structure and the need to reduce carbon emissions is driving the solar power generation. Power systems operators in the region are looking to include solar trackers as they can enable them to operate plants at higher efficiencies. For instance, one of the major players, Scorpius Trackers, has installed around 50 MW of solar tracker projects last year in India.
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The key players of Global Solar PV Tracker Market are Arctech Solar (India), Convert Italia (Italy), Exosun (U.S.), First Solar (U.S.), Grupo Clavijo (Spain), Ideematec (Germany), Mahindra Susten (India), NClave (Spain), NEXTracker (U.S.), PV Hardware (U.S.), Scorpius Trackers (India), Solar Steel(Spain), Soltec(U.S.), STI Norland (Spain), Sun Action Trackers (U.S.), SunLink (U.S.), and SunPower (U.S.) among others.
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the Global Solar PV Tracker Market, including high-growth regions and/or countries, and political and economic environments. The project report, further provides both – historical market values and pricing & cost analysis.
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