Global Solar PV Tracker Market Insights 2019 Report: Industry Analysis Report

1. Market Research Future published research report Global Solar PV tracker market. The Solar PV tracker Industry market is expected to grow at 18% CAGR during the period 2018 to 2023. Market Highlights Solar PV trackers are implemented in solar power generation plants to increase the operational efficiency and plant operational profitability. Single axis type trackers are used in small-scale systems, where power output does not have a huge influence on the overall operation of the system. Besides, the power generated is usually sufficient for limited power requirements of a residential operation; therefore, installing highly capable dual axis tracking systems for small power applications, such as residential applications, has high costs involved. Power companies who operate utility level solar power plants focus on this dual axis technology as this will have a higher impact on their operational revenues. For instance, a utility provider can install a solar tracker for exceeding the plant output by at least 15% and thereby, sell the excess power to the grid or store and use it for later. As there is an increased amount of solar power installations globally, especially in the Asia Pacific, Latin American, and African regions, solar PV trackers are expected to witness huge implementation potential. As solar CSP, a type of solar power generation plant, operates completely on the method of tracking the sun for its operations, it will be crucial for plants of similar nature around the world to have the solar tracker technology. The number of solar trackers installed around the world has been significantly increasing as power system operators are continuously looking to generate more power. The solar PV tracking systems have a huge disadvantage when it comes to their upfront and maintenance costs. Any small operational defect of the tracking systems can adversely impact the power generation capacity of a plant and therefore, the project itself. MRFR predicts that with the recent developments in solar PV tracking drive systems, such as the active and passive implementation of systems, can help overcome the operational inefficiencies of solar tracking systems. The global solar PV tracker industry market is projected to grow at 18% CAGR during the forecast period. About Market Research Future:

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