In 2014, the global solar trackers market was evaluated around USD 5.24 billion and is expected to reach approximately USD 24.19 billion by 2023 while registering itself at a compound annual growth rate (CAGR) of 18.53% over the forecast period. Solar trackers are equipment that assists in escalating the installed payloads efficiency like panels, fresnels, mirrors and parabolic mangers. Solar trackers have the capability to augment the competence of these payloads by over 30%. The market demand is propelled by growing awareness regarding renewable energy and undesirable effects ensuing owing to weather change. The encouraging regulations in emerging countries, as well as actions taken by governments across the globe to trim down dependency on energy generation that ensues in emission, is anticipated to fuel the solar tracker's demand. Growing government emphasis on alternative energy sources has ensued as the progress of solar PV cells since a sustainable and continuous energy production source. The speedy rise in a number of PV installations in Spain has condensed the levelized price of electricity, ensuing in solar PV being competitory with other traditional energy forms.
Solar tracker market by technology, product and application global industry analysis and forecast to 2023
1. Solar Tracker Market
Research Report
• Industry Analysis
• Trends
• Growth Assessment
• Competitive Landscape
• Forecast to 2023
2. Growth Assessment
to reach approximately $24.19 billion by 2023
with growth rate of 18.53%
• Growing awareness regarding renewable energy
• Undesirable effects ensuing owing to weather change
• Encouraging regulations in emerging countries
• Governments initiatives
3. Segments
By Technology:
• Solar Photovoltaic (PV)
• Concentrated Solar Power (CSP)
• Concentrated Photovoltaic (CPV)
By Product:
• Single axis
• Dual axis
By Application:
• Utility
• Non-utility
4. Key Players
• AllEarth Renewables
• Array Technologies
• Energia Ercam
• Grupo Clavijo
• DEGERenergie
• First Solar
• Hao
• Mecasolar
• Soitec
• SmartTrak
• Mechatron
• Powerway Renewable Energy Co.
Ltd
• Sun Power Corporation
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