Global Solar PV Tracker Market Scenario
A study conducted by Market Research Future (MRFR), on the worldwide solar PV system market, reveals reliable insight in the market that can assist investors make concrete decisions. As per MRFR analysis, the “Solar PV Tracker Market” report reveals that the market is expected to thrive at about 18% CAGR across the evaluation period (2017 to 2023).
The growing desirability of solar PV trackers to meet the rise in energy requirement can promote the adoption of the solar PV tracker market across the globe. Advantages offered by solar PV tracker, such as improved feed-in-tariff rates and cost cutting can promote the expansion of the market. The rapid replacement of conventional power generation sources by solar PV tracker system can impel the expansion of the market. Solar PV tracker offers extra efficiency of about 15% to 30% in operations. This can improve the impetus of the world solar PV tracker market.
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On the downside, the high installation price and maintenance expense can limit the expansion of the market. In recent times, the growing preference for effective solutions over considering the expense criteria while making purchase decision can counter the market slow-down in the years to come.
MRFR profiles major players functioning in the global solar PV tracker market. They are; Convert Italia (Italy), Arctech Solar (India), First Solar (U.S.), Exosun (U.S.), Ideematec (Germany), SunLink (U.S.), Grupo Clavijo (Spain), NClave (Spain), Mahindra Susten (India), PV Hardware (U.S.), NEXTracker (U.S.), Solar Steel(Spain), Scorpius Trackers (India), Sun Action Trackers (U.S.), STi Norland (Spain), Soltec(U.S.), and SunPower (U.S.).
The Solar PV Tracker Industry is assessed by tracking system type, power generation type, end-use industries, and tracking control systems type.
By dive system, the market is split into active and passive.
By power generation type, the market is segmented into solar PV, CSP, and concentrated solar thermal. The CSP segment is the most discussed one. Hence, its further study is segmented into linear Fresnel, power towers, and dish or engine type. Concentrated solar thermal systems are gaining popularity as they are effectively settling domestic water heating and steam generation requirements.
By tracking systems type, the market is sectioned into single axis, fixed tilt, and dual axis tracking systems. The dual axis tracking systems segment is expected to gain high traction for the global solar PV tracker market due to their high utility. Active tracking systems are being used widely installed that is likely to propel the market.
The flourishing energy industry in the Asia Pacific is expected to generate numerous growth opportunities for the solar PV tracker market. The decline in natural energy resources, such as oil and coal, and other fossil fuel is generating tremendous growth scope, as the need for alternative source of energy increases. The increase in solar PV systems demand in the APAC region can support the expansion of the market here. In the North America region, the solar PV market is likely to experience a fast-pace expansion in the years to come. Technological advances in this region are likely to back the rise of the solar PV tracker market in North America. The high installations of solar PV systems can promote the expansion of the market in the region. In Europe, the expansion of the solar PV tracker can be attribute to the presence of robust energy supporting infrastructure in the region.
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Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 Research Process
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global Solar PV Tracker Market, By Solar Power Type
5.2 Solar PV
5.4 Solar Thermal
6 Global Solar PV Tracker Market, By Tracking Type
6.3 Single Axis
7 Global Solar PV Tracker Market, By Drive System Type
7.2 Active Systems
7.3 Passive Systems
8 Global Solar PV Tracker Market, By End-Use Industries
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