San Francisco 3 May 2019 The
Report Solar Tracker Market Trend Analysis By Technology (Solar Photovoltaic (PV),
Concentrated Solar Power (CSP), Concentrated Photovoltaic (CPV)), By Product
(Single Axis, Dual Axis), By Application (Utility, Non-utility), And Segment
Forecasts, 2018 - 2025
The global solar tracker market is expected to reach 26.77 GW installed capacity by 2025,
according to a new report by Grand View Research, Inc. Rising demand for
renewable energy in developing countries is expected to drive demand for the
solar tracker. The product exhibits the ability to generate electricity in the
same amount of space needed for fixed-tilt systems which make them an ideal
product for optimum land usage. Solar trackers have the ability to increase the
direct exposure by around 20% - 30% as they improve the precision in sunlight
tracking. The major restraining factor is the high costs involved in the
installation of solar trackers.
Prevalence of supporting regulations in
North America is expected to be a key factor responsible for the high growth.
Reduction in feed-in tariff rate has hampered market growth, however, the
incentive schemes under the Italian legislative regime, highest global
subsidies for RES (Renewable Energy Sources) is expected to drive market
demand.
Access Research Report of Solar Tracker Market@ http://www.grandviewresearch.com/industry-analysis/solar-tracker-industry
Further key findings from the report suggest
· Solar PV is the largest segment in the
market growing at CAGR of over 18% in terms of capacity from 2016 to 2024 on
account of simplicity in design and cost-effectiveness of the technology
· The demand for dual axis trackers is
expected to grow rapidly at a CAGR of 18.7% from 2016 to 2024. The demand is
driven by their ability follow the sun both horizontally and vertically.
· The demand from utility application is
expected to grow at a significant CAGR reaching over 23.84 GW in 2025. These
trackers are majorly used in wide areas, and therefore, it is more favorable to
install them for large scale projects.
· The European capacity was 1.85 GW in 2015
and is anticipated to witness significant rise on account of numerous
installations in France, Spain, Italy, Greece, and Germany.
· In April 2015, SunPower Corporation
announced its plans to partner with Apple to construct two solar power projects
totaling 40 MW in Qiang Autonomous Prefectures and ABA Tibetan, Sichuan
Province in China.
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/renewable-energy
Grand View Research has
segmented the global solar tracker market on the basis of technology, product,
application and region:
Technology Outlook (Capacity,
Megawatts,2014 - 2025)
·
Solar Photovoltaic (PV)
·
Concentrated Solar Power (CSP)
·
Concentrated Photovoltaic (CPV)
Product Outlook (Capacity, Megawatts;
Revenue, USD Million, 2014 - 2025)
·
Single axis
·
Dual axis
Application Outlook (Capacity, Megawatts,
2014 - 2025)
·
Utility
·
Non-utility
Regional Outlook (Capacity, Megawatts, 2014
- 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
MEA
Access Press Release of
Solar Tracker Market@ https://www.grandviewresearch.com/press-release/global-solar-tracker-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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