Ocean View, DE -- (SBWire) -- 05/19/2020 --Intensifying focus of governments on reduction of carbon emissions and effective utilization of sustainable energy systems will propel solar tracker market growth. Regulators have been introducing various legislations to encourage the adoption of clean energy sources and achieve decarbonization goals.
Also, solar tracker market demand has augmented due to the deployment of PV generation systems and introduction of renewable energy targets. Solar trackers enhance energy outputs by angling the payloads toward the sun. Technical advancements by companies operating in solar tracker market have also promoted product adoption.
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Key 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
Demand for electricity has increased due to an increase in number of commercial projects globally. Construction of commercial facilities, such as schools, hospitals, and shopping malls has resulted in subsequent adoption of solar panels since commercial and utility sectors have increased the deployment of renewable energy systems. Moreover, renewable energy deployment is being encouraged by various mandates that are being introduced by governments to reduce emissions generated by the commercial sector. In addition, high electricity tariff for commercial organizations coupled with reduction in the price of PV technology has prompted the sector to resort to renewable energy sources, which is likely to further fuel market trends.
North America has witnessed high adoption of PV systems, which has contributed to the growth of solar tracker market share. The utility sector in North America has observed commencement of solar PV projects on a large-scale. In addition, declining cost of solar panels has further added an impetus to the adoption of solar trackers. Also, manufacturers are outlaying huge amounts on research and development activities for advancement of solar energy systems. Advanced PV tracker systems are being highly installed due to low supply chain costs and rising module efficiency, which will further promote solar tracker industry growth.
Two-degree flexibility of dual axis solar tracker improves energy generation by 45% as compared to conventional photovoltaic system. CSP (Concentrated Solar Power) and CPV (Concentrator Photovoltaics) power plants have generated substantial demand for solar trackers. Dual axis solar trackers are highly efficient in comparison with other alternative sources. Such advantages offered by dual axis solar trackers have escalated solar tracker market share.
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Demand for solar trackers has accelerated owing to the benefits offered by them, such as reduction in energy costs and high CUF., Besides, companies have been investing massively on the development of low-cost and efficient products to secure competitive advantage over the market. Some of the significant industry participants are SunPower Array Technologies, Meca Solar, Abengoa Solar, and Powerway among others.
Some Points From Table Of Content: -
Chapter 4 Solar Tracker Market, By Product
4.1 Solar tracker market share by product, 2018 & 2025
4.2 Single Axis
4.2.1 Global market from single axis, 2014 - 2025
4.2.2 Global market from single axis, by region, 2014 - 2025
4.2.3 Horizontal
4.2.3.1 Global market from horizontal, 2014 - 2025
4.2.3.2 Global market from horizontal, by region, 2014 - 2025
4.2.4 Vertical
4.2.4.1 Global market from vertical, 2014 - 2025
4.2.4.2 Global market from vertical, by region, 2014 - 2025
4.3 Dual axis
4.3.1 Global market from dual axis, 2014 - 2025
4.3.2 Global market from dual axis, by region, 2014 - 2025
Chapter 5 Solar Tracker Market, By Application
5.1 Solar tracker market share by application, 2018 & 2025
5.2 Residential
5.2.1 Global market from residential, 2014 - 2025
5.2.2 Global market from residential, by region, 2014 - 2025
5.3 Commercial
5.3.1 Global market from commercial, 2014 - 2025
5.3.2 Global market from commercial, by region, 2014 - 2025
5.4 Utility
5.4.1 Global market from utility, 2014 - 2025
5.4.2 Global market from utility, by region, 2014 - 2025
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Solar Tracker Market Growth Dynamics to 2025: Powerway, Trina Solar, AllEarth Renewables, DEGERenergie, Arctech Solar, First Solar, GameChange Solar, Gonvarri Steel
Intensifying focus of governments on reduction of carbon emissions and effective utilization of sustainable energy systems will propel solar tracker market growth