The global solar tracker market reached a value of US$ 7.7 Billion in 2020. Looking forward, the analyst expects the market to grow at a CAGR of 16.2% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
A solar tracker refers to the device used for orienting a solar panel or solar reflector toward the sun to harness additional sunlight. The trackers are attached to the solar panels to alter their position in sync with the sun irrespective of the weather conditions. This ensures that the solar modules are correctly positioned to gather maximum solar energy and to improve the overall efficiency of the solar panels. Based on the design and tracking mechanism, some of the commonly used variants include active, passive, single-axis and dual-axis trackers. They offer various advantages, such as the generation of additional energy, availability in binary formats and minimal space requirements.
Global Solar Tracker Market Trends and Drivers: A significant increase in the number of solar panel installations across the globe is one of the key factors driving the growth of the market. Furthermore, the implementation of favorable government policies promoting various solar energy projects driving the market growth. Due to the increasing preference for renewable energy sources among the masses and the growing emphasis on utility-scale projects, solar trackers are being deployed across the residential, commercial and industrial sectors. Additionally, various product innovations, such as the development of more efficient and cost-effective solar photovoltaics and concentrated photovoltaics, are acting as other major growth-inducing factors. These systems are innovatively designed to facilitate low-cost power generation. Other factors, including increasing off-grid energy demand, along with the integration of cloud computing and the Internet of Things (IoT)-based solutions, are expected to drive the market further.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global solar tracker market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type, tracking type, technology and application.
Breakup by Type: Active Solar Tracker Passive Solar Tracker
Breakup by Tracking Type: Single Axis Tracking HSAT (Horizontal Single Axis Trackers) VSAT (Vertical Single Axis Trackers) TSAT (Titled Single Axis Trackers) PSAT (Polar Aligned Single Axis Trackers) Dual Axis Tracking TTDAT (Tip-Tilt Dual Axis Trackers) AADAT (Azimuth-Altitude Dual Axis Trackers)
Breakup by Technology: Solar Photovoltaic (PV) Concentrated Solar Power (CSP) Concentrated Photovoltaic (CPV)
Breakup by Application: Utility Sector Residential Sector Commercial Sector
Breakup by Region: North America United States Canada Asia Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The report has also analysed the competitive landscape of the market with some of the key players being Arctech Solar Holding Co. Ltd., Array Technologies Inc., Convert Italia SpA (Valmont Industries Inc.), DEGER energie GmbH & Co KG, First Solar Inc., Nextracker Inc. (Flex Ltd.), Powerway Renewable Energy Co. (SinoTech Power Group), Soltec Energias Renovables S.L. and Sunpower Corporation (Total S.A.). Key Questions Answered in This Report: How has the global solar tracker market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global solar tracker market? What are the key regional markets? What is the breakup of the market based on the type? What is the breakup of the market based on the tracking type? What is the breakup of the market based on the technology? What is the breakup of the market based on the application? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global solar tracker market and who are the key players? What is the degree of competition in the industry?
Our reports have been used by over 10K customers, including:
The global silicon wafer market grew at a CAGR of around 3% during 2015-2020. Looking forward, the analyst expects the market to continue its moderate growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the...
The global agro textiles market exhibited moderate growth during 2015-2020. Looking forward, the analyst expects the market to grow at a CAGR of 5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic...
The global reflective material market exhibited moderate growth during 2015-2020. Looking forward, the analyst expects the market to grow at a CAGR of around 7% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of...
This study is an analysis of the global industrial valves and actuators market.It also details the growth potential of this market in the short, medium, and long terms. There is also an in-depth coverage of the growth of valves in the green technology sector.As the valves market is mature, The analyst has highlighted valve applications...
The role of catalysts in renewable energy generation, such as solar-to-energy, green hydrogen, power-to-X, and waste-to-fuel, is focused primarily towards increasing the efficiency rates while reducing heat loss.In solar energy generated through solar panels, catalysts help enhance the energy being absorbed and transported across the solar...
120 pages •
By Infiniti Research Limited
• Sep 2021
Global Glass Market 2021-2025 The analyst has been monitoring the glass market and it is poised to grow by $ 76.80 bn during 2021-2025, progressing at a CAGR of 4.89% during the forecast period. Our report on the glass market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges,...
The colorless polyimide films market is projected to grow from USD 70 million in 2021 to USD 1,162 million by 2026, at a CAGR of 75.3% from 2021 to 2026. The increasing demand for colorless polyimide films from applications such as flexible displays, flexible solar cells, and flexible printed circuit boards, among others, is expected to drive...
131 pages •
By Asia Market Information & Development Company
• Aug 2021
This study focuses on China’s Solar Lights market trends. In the two past decades, the market has been growing at a fast pace. The dramatic expansions of the manufacturing capabilities and rising consumer consumptions in China have transformed China’s society and economy. China is one of the world’s major producers...
The Trinidad and Tobago solar energy installed capacity registered to be 3 megawatts (MW) in 2020 and is estimated to be around 184 MW in 2026, registering an expected growth at a CAGR of 109.24% from 2021 to 2026. However, the crash of global energy markets amid the COVID-19 pandemic and the growing threat of climate change provide an impetus...
India Power Market Outlook to 2030, Update 2021 - Market Trends, Regulations, and Competitive Landscape Summary This report discusses the power market structure of India and provides historical and forecast numbers for capacity, generation, and consumption up to 2030.Detailed analysis of the country’s...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.