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The global market for the solar tracker is projected to have a considerable CAGR of around 11.6% during the forecast period. Solar trackers are used to increasing the energy output from the solar panel by following the movement of the sun as it rotates from the east to the west every day.
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Solar Tracker Market Size & Growth Analysis Report, 2021-2027 The global solar tracker market is anticipated to grow at a modest CAGR during the forecast period (2021-2027). Solar Tracker which is also known as sun mounting equipment used to increase the electricity production of the solar panel by moving the panels towards the sun for the whole day. These devices change their orientation throughout the day to follow the sun’s path to maximize energy capture. The trackers are normally used for ground-mounted solar panels and free-standing, large solar installations such as solar trees. The growing trend from shifting non-renewable to renewable energy is the major factor driving the demand for solar trackers. According to the International Renewable Energy Agency (IRENA), among all renewable technologies, solar PV power installations have been dominating the renewables industry for many years. Additionally, IRENA Remap analysis shows that solar PV power installations could grow almost six-fold over the next ten years, reaching a cumulative capacity of 2 840 GW globally by 2030 and rising to 8 519 GW by 2050. This implies total installed capacity in 2050 almost eighteen times higher than in 2018 (480 GW). Thus, the more the number of solar PV installations, the more demand for solar trackers will be more, which will further drive the market for solar trackers. To Request a Sample of our Report on Solar Tracker Market: https://www.omrglobal.com/request- sample/solar-tracker-market Growth in solar energy projects, funding from solar tracking systems, and the contribution of many countries towards reducing carbon emission are also the factors contributing to the growth of the market. For instance, Brazil claims that by 2030, it will increase the use of non-fossil fuel energy sources domestically, and increasing the use of renewable energy sources by 28%-30%. Besides, the market players are also contributing towards the market growth by producing cost-effective solar trackers to increase the energy production from solar panels. For instance, in May 2019, Arctech Solar had launched its research achievement SkySmart-2, the first independent single-axis tracking system for providing better stability for PV plants in extreme weather conditions. Thus, the above factors are expected to increase the market growth during the forecast period. Market Coverage • The market number available for – 2020-2027 • Base year- 2020 • Forecast period- 2021-2027 Segment Covered- • By Type • By Technology • By End-User Regions Covered- • North America • Europe
• • Asia-Pacific Rest of the World Competitive Landscape- Abengoa S.A., Arctech Solar Holding Co., Ltd, Array Technologies, Inc., Nextracker Inc, Scorpius Trackers Pvt. Ltd., SOLTEC ENERGÍAS RENOVABLES, S.L., Sun Action Trackers, SunPower Corp., Trina Solar Ltd., among others. Key questions addressed by the report •What is the market growth rate? •Which segment and region dominate the market in the base year? •Which segment and region will project the fastest growth in the market? •How COVID-19 impacted the market? o Deviation from the pre-COVID-19 forecast o Most affected region and segment •Who is the leader in the market? •How players are addressing challenges to sustain growth? •Where is the investment opportunity? (Get 15% Discount on Buying this Report) A full Report of Solar Tracker Market is Available at: https://www.omrglobal.com/industry- reports/solar-tracker-market Global Solar Tracker Market Report by Segment By Type • Single Axis Tracker • Dual Axis Tracker By Technology Photovoltaic System (PV) • Monocrystalline Silicon PV Panels • Polycrystalline Silicon PV Panels • Thin-Film Silicon PV Panels • Concentrated Solar Power (CSP) • Concentrator Photovoltaics (CPV) By End-User • Commercial • Residential • Industrial • Others Global Solar Tracker Market Report by Region North America •United States •Canada Europe •UK •Germany •Spain
•France •Italy •Rest of Europe Asia-Pacific • • • • • Rest of The World India China Japan South Korea Rest of APAC • • Latin America Middle East & Africa Company Profiles • • • • • • • • • • • • • • • • • • Reasons for Buying from us – 1. We cover more than 15 major industries, further segmented into more than 90 sectors. Abengoa S.A. Allearth Renewables ArcelorMittal Group Arctech Solar Holding Co., Ltd Array Technologies, Inc. BIG SUN Energy Technology Inc GameChange Solar Ganges Internationale Pvt. Ltd Mahindra SustenPvt. Ltd. Nextracker Inc. Scorpius Trackers Pvt. Ltd. SOLTEC ENERGÍAS RENOVABLES, S.L. SoltiguaSRL Sun Action Trackers LLC SunPower Corp. Trina Solar Ltd. Vikram Solar Ltd. Xiamen Grace Solar Technology Co., Ltd. 2. More than 120 countries are for analysis. 3. Over 100+ paid data sources mined for investigation. 4. Our expert research analysts answer all your questions before and after purchasing your report. For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report- customization/solar-tracker-market About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research- based services. For More Information, Visit Orion Market Research Media Contact: Company Name: Orion Market Research Contact Person: Mr. Anurag Tiwari Email: info@omrglobal.com Contact no: +91 7803040404
