Report Overview:
A solar tracker is a system that positions an object at an angle relative to the sun. The most common solar tracking system is placing photovoltaic (PV) panels to remain perpendicular to the sun’s rays and setting space telescopes to determine the sun’s direction. PV solar tracking system adjusts the path that a solar panel faces according to the sun’s position in the sky. By keeping the panel perpendicular to the sun, the more sunlight strikes the less light is reflected, and more solar energy is absorbed. That energy can be converted into power.
The global Solar Tracker Market size was worth around USD 3.53 billion in 2022 and is predicted to grow around USD 18.63 billion by 2032 with a compound annual growth rate of roughly 20.3% between 2023 and 2032.
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Increasing global concerns about energy conservation are assisting industries to transition from the usage of non-renewable to renewable sources of energy, which may increase the growth of solar energy and solar trackers. A solar tracker utilizes a number of electrical components, including motors, actuators, and sensors, to align the solar cell to maximize solar energy production.
Key players profiled in the Global Solar Tracker Market include:
Abengoa
All Earth Renewables
Array
Technologies
DEGERENERGIE GMBH & CO. KG
Nclave
POWERWAY RENEWABLE ENERGY CO., LTD
SunPower Corporation
Titan Company Limited
Soltec Tracker
Trina Solar
The global solar tracker market is segmented as follows:
By Type:
Single Axis
Dual Axis
By Technology:
Solar Photovoltaic
Concentrated Photovoltaic
Concentrated solar power
The solar photovoltaic segment generated the highest market revenue in 2022. PV cells’ interoperability with common photovoltaic module technologies is the primary basis for PV’s dominant market position. The increasing cost of power due to supply-demand mismatch will increase the use of solar PV in both utility and non-utility applications.
By Application:
Utility
Residential
Commercial
Industrial
The utility segment was the largest application segment in terms of revenue in 2022. Solar trackers are anticipated to become more widespread in utility applications as a result of rising electricity prices and a greater need to use renewable energy sources.
Recent Development:
In December 2022: Gonvarri Solar Steel and Elawan Energy signed a contract for the delivery of over one thousand solar trackers to permit the installation of 800,000 modules (solar panels) in Escuderos, Belinchon, and Torrijos.
In June 2021: Artech Solar, a major producer of solar tracking and mounting systems, introduced SkySmart-2, the company’s first single-axis tracking system with multiple fans capable of driving up to 12 solar modules. It is capable of resolving the instability problem of conventional two modules in a portrait tracking system and enhancing the stability of PV plants in adverse weather situations.
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By Region:
North America is a significant market for solar trackers due to the region’s increasing focus on renewable energy sources and the growing demand for sustainable power solutions. The United States and Canada are major players in the solar tracker market in North America.
In the United States, California is the largest market for solar trackers, followed by Texas, Arizona, and Nevada. These states have favorable solar irradiance levels and high demand for solar power due to their large populations and high energy consumption.
Why Purchase the Report?
• The report includes information such as market dynamics scenario, opportunities and challenges during the forecast period
• Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
• Regional, sub-regional, and country-level data include the demand and supply forces along with their influence on the market.
• The competitive landscape comprises a share of key players, offering products, relevant financial information, recent developments, SWOT analysis, and strategies.
• Understand the current market scenario and viability of the global market over the forecast period.
Some of the key questions answered in this report:
• What can we estimate about the anticipated growth rates and also the global Solar Tracker Market industry size by 2032?
• What will happen in the coming existing and emerging markets?
• What will the market development pace of market?
• Which are the five top players in the Solar Tracker market?
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TABLE OF CONTENTS:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact on Solar Tracker Market
Chapter 5. Global Solar Tracker Market Overview, By Application, 2018 – 2032 (USD Million)
Chapter 6. Global Solar Tracker Market Overview, By Technology, 2018 – 2032 (USD Million)
Chapter 7. Global Solar Tracker Market Overview, By Type, 2018 – 2032 (USD Million)
…TOC Continued
Browse Complete TOC: https://www.extrapolate.com/toc/energy-and-power/solar-tracker-market/87361
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