The recent research, Solar Tracker market enables stakeholders, field marketing executives and business owners get one step ahead by giving them a better understanding of their immediate competitors for the forecast period, 2019 to 2026. Most importantly, the study empowers product owners to recognize the primary market they are expected to serve. To help companies and individuals operating in the Solar Tracker market ensure they have access to commensurate resources in a particular location the research, assess the size that they can realistically target and tap.
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The Solar Tracker Market is expected to reach USD 49.21 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with increasing awareness about renewable sources of energy globally. Based on statistics, increased concern about adverse effects of climate change is expected to become the most common growth interest globally in the coming years. Stringent government rule coupled with technological advancements has led to high growth rates.
Key participants include
Abengoa Solar, S.A., Titan Tracker SL, Wuxi Hao Solar Technology Co. Ltd., Array Technologies, Inc., AllEarth Renewables, Inc., Mechatron S.A., SunPower Corporation, DEGERenergie , GmbH Grupo Clavijo Elt SL, SmartTrak Solar Systems Pvt. Ltd., Energia Ercam SL, Mecasolar España SL, First Solar, Inc., Powerway Renewable Energy Co., Ltd., Soitec, Optimum Tracker and CM Tracker.
Product Outlook (Volume, MW; and Revenue, USD Million; 2016-2026)
- Single axis
- Dual axis
Technology Outlook (Volume, MW; and Revenue, USD Million; 2016-2026)
- Solar Photovoltaic (PV)
- Concentrated Solar Power (CSP)
- Concentrated Photovoltaic (CPV)
Application Outlook (Volume, MW; and Revenue, USD Million; 2016-2026)
- Utility
- Non-Utility
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Further key findings from the report suggest
- The global Solar Tracker Market is growing at a rapid speed owing to the enhanced concern about renewable sources of energy and severe climate changes across the globe.
- Need for sustainable green energy generated by renewable resources such as solar power has grown significantly due to global warming. Solar power is produced through the sun’s radiation that falls upon solar panels. A solar tracker is a device employed to place a solar panel towards the sun. The tracking of the sun is done accurately by the systems of single axis and dual axis.
- Single axis trackers account for the largest market share of 54.81% in 2018 and are the dominant product segment of the global market. The increasing usage of single axis trackers for commercial and residential applications is expected to boost market demand.
- Many organizations have started installing dual axis trackers over their buildings to obtain higher efficiency for the secure solar energy facilities. These products rotate through both: x and y-axis, hence they help in generating 8% to 10% more energy than single-axis trackers. The soaring land requirement, modern technology, and the necessity to maintain motors & control systems are expected to raise O&M expenditure.
- The dual-axis tracker of the product segment is anticipated to grow with the highest rate of 15.2% during the forecast period, as major companies have started installing dual axis trackers due to their efficiency and accuracy…Continued
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