Global Single Axis Solar PV Tracker Market 2019-2023

Global Single Axis Solar PV Tracker Market 2019-2023

  • November 2018 •
  • 113 pages •
  • Report ID: 5666312 •
  • Format: PDF
About this market

Of all the renewable sources of energy, solar power generation has emerged as one of the cheapest sources of clean energy. The intermittent nature of solar energy can be overcome through energy storage, which not only bridges the gap between solar power generation and supply during the non- productivity hours but also increases the adoption of renewable energy in hybrid systems. Therefore, the declining costs of solar energy generation due to government initiatives and subsidies as well as competitive bidding processes, there has been a significant increase in the number of solar PV panel installations globally. The global single axis solar PV tracker market is expected to register a CAGR of almost 28% during the forecast period.

Market Overview
Supportive government policies and regulations
Governments around the world are supporting the adoption of renewable technologies, including solar energy by providing subsidies, incentives and tax benefits to both producers and consumers. The continuation of the policy will encourage solar equipment manufacturing companies to invest in R&D activities to develop cheaper and more reliable technology to bring down the cost of solar PV systems further.
Competition from alternatives 0pf single axis trackers
The increasing popularity of dual axis solar PV trackers have a higher degree of flexibility and accuracy in directional pointing as they can move both horizontally and vertically to achieve the optimum angle. Additionally, dual axis solar PV trackers work better in all-weather conditions. Therefo0rew, such factor will pose a challenge to single axis solar PV market during our forecast period.
For the detailed list of factors that will drive and challenge the growth of the single axis solar PV tracker market during the 2019-2023, view our report.

Competitive Landscape
The global single axis solar PV tracker market is fairly concentrated. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.