Solar PV Tracker Market To Grow At 18% CAGR By 2023, according to latest report on Global Solar PV Tracker Market 2019 Industry Size, Trends, Share Analysis With Regional Forecast To 2023, published by “Market Research Future”.
Pune, India – April 16, 2019 /MarketersMedia/ —
Global Solar PV Tracker Market is segmented by Solar Power Type, by Tracking type, Drive system, By End-User, and Region (North America, Europe, APAC, RoW).
Solar PV Tracker Industry Leading Players Analyzed are:
Several players have engaged themselves in taking up the solar PV tracker market to a substantial height Soltec(U.S.), Convert Italia (Italy), Exosun (U.S.), Arctech Solar (India), Grupo Clavijo (Spain), Ideematec (Germany), STi Norland (Spain), First Solar (U.S.), NClave (Spain), NEXTracker (U.S.), PV Hardware (U.S.), Solar Steel (Spain), Sun Action Trackers (U.S.), Scorpius Trackers (India), Mahindra Susten (India), SunLink (U.S.), and SunPower (U.S.).
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Global Solar PV Tracker Market Highlights:
Global Solar PV Tracker Market growth is attributed to factors such as market is expected to receive traction from power companies who are installing trackers to optimize their output and reduce the total cost. With several countries looking for sustainable sources to counter damages done by fossil fuels, the market is getting substantial thrust as a better alternative.
On the flipside, the market could get hit by the high maintenance cost of the product as any kind of disturbance could impact the tracker very easily.
The global solar photovoltaic (PV) tracker market, reveals Market Research Future (MRFR), that an 18% CAGR is on the cards during the forecast period (2018-2023). The solar PV trackers are devices that find use in solar power generation plants as they increase operational efficiency and plant operational profitability. The tracker tracks the sunlight and places the PV accordingly helping it receive maximum sunlight. It can be of different kinds. Single-axis technology often finds use in the residential sector, whereas, the dual axis ones are more common with commercial projects.
Market Segments Analysis:
MRFR in their research report on the global solar PV tracker market segmented the market by solar technology type, tracking type, drive system type, and end-user industries.
Based on the technology type, the global solar PV tracker market can be segmented into solar PV, solar CSP, parabolic trough, power tower, linear Fresnel & dish/engine system, and solar thermal.
Based on the tracking type, the global solar PV tracker market includes fixed-tilt, single-axis, and dual-axis. The dual-axis segment is expected to generate much revenue owing to its contribution in power companies as a medium to generate more power.
Based on the drive system type, the global solar PV tracker market comprises active systems and passive systems. The active systems segment is ensuring much growth owing to its direct impact on the market.
Based on the end-industry, the global solar PV tracker market can be segmented into residential, commercial, and utilities. The commercial sector is witnessing substantial growth.
The global solar PV tracker market is witnessing a region-specific segmentation conducted by MRFR. This includes North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The market is not expected to go sluggish for long. At present, the market is witnessing a surge in the demand for same owing to its reduced maintenance cost and low-tariff rates. The demand is quite high for the product in North America and Europe. These two regions have long started adopting green initiatives to curb carbon emission and with depleting fossil fuel level the demand is all the more growing. At the same time, solar PV trackers can maximize the use of energy by 15-30% due to which a lot of people are now installing the device. Especially, this is true for people living in the APAC region. The population level is quite massive in the region and a lot of people do not get access to energy. Hence, the installation of solar PV trackers to increase production becomes all the more necessary.
Recently, a new discovery in the solar PV tracker sector is promising substantial rise in the consumption of solar panels. The device is known as data-driven dual axis solar tracker that would track sunlight using publicly available data from the National Oceanic and Atmospheric Administration. This invention would help in maximizing solar panel work.
Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
List Of Tables:
Table 1 Global Solar PV Tracker Market: By Region, 2017-2023
Table 2 North America Solar PV Tracker Market: By Country, 2017-2023
Table 3 Europe Solar PV Tracker Market: By Country, 2017-2023
Table 4 Asia-Pacific Solar PV Tracker Market: By Country, 2017-2023
Table 5 RoW Solar PV Tracker Market: By Country, 2017-2023
Table 6 Global Solar PV Tracker Market, By Packaging Type, By Regions, 2017-2023
Table 7 North America Solar PV Tracker Market, By Packaging Type, By Country, 2017-2023
Table 8 Europe Solar PV Tracker Market, By Resin Type, By Country, 2017-2023
Table 9 Asia-Pacific Solar PV Tracker Market By Packaging Type, By Country, 2017-2023
List Of Figures
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS
FIGURE 7 VALUE CHAIN ANALYSIS
FIGURE 8 GLOBAL SOLAR PV TRACKER MARKETSHARE, BY PACKAGING TYPE, 2016 (%)
FIGURE 9 GLOBAL SOLAR PV TRACKER MARKET, BY PACKAGING TYPE, 2015-2023 (USD MILLION)
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