Solar PV Tracker Market Analysis

Solar PV Tracker Market is projected to register a CAGR of 18.51% during the forecast period.

Our Market Overview and Regional Analysis provide an understanding of the industries, companies and products within the market. Our Trends section provides an analysis of how the market is currently performing and looks set to perform in the future. Our Growth Forecast section gives you an idea about how our Market Analysis works, by giving us further details on how we can build our Market Forecast model for a particular domain within this report. Lastly, in our Metrics section we outline important data points relating to each of these sections as well as our current forecasted price range.

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Using a solar tracker with PV systems is one method of boosting the efficiency of solar power generation. When compared to fixed solar panels, a solar tracker's primary goal is to keep the solar panel under the best possible insolation from the sun. This is a game-changer in the solar business since experiments have shown that solar trackers can enhance operational efficiency by up to 15% to 30% over a standard fixed panel setup, depending on the location of operation. There are various types of solar tracking systems in the market.

Factors Studied For Market Forecast

Drivers:

Increased solar power installations around the world

Restraints:

High maintenance cost can restrict the growth of the solar PV tracker market in the near future.

Market Segmentation

The global solar PV tracker market has been segmented based on power generation type and tracking system type. 

  • Based on power generation type, the global solar PV tracker market has been segmented into parabolic through, power towers, linear Fresnel, and dish/engine type. 
  • Based on tracking systems type, the global solar PV tracker market has been segmented into fixed tilt, single axis, and dual axis tracking systems. 

Regional Analysis

APAC to Lead the Global Market

The Asia Pacific energy industry is predicted to create several potential prospects for the solar PV tracker market. The depletion of natural energy supplies such as oil and coal, as well as other fossil fuels, is producing enormous development potential as the demand for alternative energy sources grows. The increased demand for solar PV systems in the APAC region may aid in the market's rise here.

North America to Follow APAC

The solar PV market in North America is expected to expand at a rapid pace in the next years. Technological advancements in this region are expected to support the growth of the solar PV tracker market in North America. The increasing number of solar PV system installations can help to expand the market in the region.

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Key Companies Profiled

  • Arctech Solar (India)
  • Convert Italia (Italy)
  • Exosun (U.S.)
  • First Solar (U.S.)
  • Grupo Clavijo (Spain)
  • Ideematec (Germany)
  • Mahindra Susten (India)
  • NClave (Spain)
  • NEXTracker (U.S.)
  • PV Hardware (U.S.)
  • Scorpius Trackers (India)
  • Solar Steel(Spain)
  • Soltec(U.S.)
  • STi Norland (Spain)
  • Sun Action Trackers (U.S.)
  • SunLink (U.S.)
  • SunPower (U.S.).