Tag: Solar Tracker Market

Solar Tracker Market – Global Industry Analysis, Size, Share, Growth 2026 | Research Report

Demand for sustainable green energy produced by renewable resources such as solar power has increased significantly due to the global warming. Solar power is generated through the sun’s radiations that fall upon solar panels. Solar tracker is a device used to position a solar panel towards the sun. The tracking of the sun is done precisely by the systems of single axis and dual axis.

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Based on type, the solar tracker market has been segmented into single axis and dual axis. Single axis solar tracker rotates on its own axis, moving back and forth in a single direction. Vertical, horizontal, tilted, and polar aligned are the different types of single axis trackers. Dual axis trackers continuously face the sun, as they move in two different directions. Types of dual axis trackers include azimuth-altitude and tip-tilt.

In terms of technological outlook, the solar tracker market has been divided into three major solar power technologies: solar photovoltaic (PV), concentrated photovoltaic (CPV), and concentrated solar power (CSP). Photovoltaic system employs solar panels, which include a number of cells that often contain silicon. This photovoltaic material (silicon) then converts solar radiations into electric current. Concentrated photovoltaic power generation also uses silicon as PV. On CPV panels the radiations from the sun are concentrated upon a photovoltaic material using lenses. For successful installation of the CPV panel, it must be facing the sun. In CSP the solar radiations are concentrated on a small surface which gets heated. The heat from this surface then gets converted into energy with the help of either a sterling engine or a fluid. In terms of application, the solar tracker market has been segmented into utility and non-utility applications

In terms of region, the global solar tracker market has been divided into Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. Europe dominated the solar tracker market in 2015. European, due to its strategic geographic location, receives ample sunlight throughout the year. This has been a primary driver for market growth in the region. Germany has been leading the market for solar trackers since the last few years, being the country with most installed PV systems. The global solar market has been expanding significantly of late due to the high government subsidies in countries around the world. The market in Asia Pacific is anticipated to expand, led by major developments in renewable energy in the region. It is projected to be a rapidly growing region for the solar tracker market during the forecast period. The market in Latin America is also likely to expand significantly during the forecast period, led by large installations of PV in the region.

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Many countries are cutting back on subsidies due to the economic crisis; however, the prices of most solar energy technologies have decreased significantly. The solar tracker market across the globe is expected to expand substantially owing to the low prices and governmental focus on renewable energy.

The global solar tracker market is highly competitive, with the presence of well-established market players. Key players operating in the solar tracker market are Haosolar Co. Ltd., Abengoa Solar S.A., AllEarth Renewables, Array Technologies, Inc., DEGERenergie GmbH & Co. KG, Energia Ercam, Powerway Renewable Energy Co. Ltd., Mechatron, SunPower Corporation, Titan Tracker SL, SmartTrak Solar Systems Pvt. Ltd, Mecasolar España SL, First Solar, Soitec, CM Tracker, and Optimum Tracker.

Solar Tracker Market – MEA Industry Analysis, Size, Share, Forecast 2019

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The growing use of renewable sources of energy as a means of generating power is one of the primary reasons behind the growth of the solar tracker market in the Middle East and Africa (MEA), states Transparency Market Research in its report, titled “Solar Tracker – Middle East and Africa (MEA) Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2019”.According to the report, the MEA solar tracker market is forecast to grow from US$58.7 million in 2012 to a whopping US$308.7 million by 2019, registering an impressive CAGR of 31.9% from 2013 to 2019.The MEA solar tracker market is driven by a surge in demand for energy, fluctuating prices of fuel oil, demand for high-efficiency solar cells, and favorable government feed-in-tariffs, energy programs, and incentive schemes. On the flip side, harsh weather conditions in some regions and capital-intensity of the technology have worked against the solar tracker market in MEA.The research report segments the overall solar tracker market in MEA on the basis of four parameters: Product, application, technology, and geography. Insights into each of these segments, along with market size and forecasts, have been provided in the report.

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On the basis of product, the solar tracker market in MEA is bifurcated into single axis solar trackers and dual axis solar trackers. Lower cost and simplicity have not only allowed single axis solar trackers to sustain themselves as the dominating product segment all these years, but market analysts predict that this segment will continue its leading streak through 2019. High maintenance cost of dual axis solar trackers has restricted its demand. Solar trackers have two main applications: utility and non-utility, of which the utility segment holds the largest share. By technology, the MEA solar tracker market is divided into solar photovoltaics (PV), concentrated photovoltaics (CVP), and concentrating solar power (CSP). While solar PV dominated the overall solar tracker market in 2012, CSP is likely to overtake this segment by the end of 2019.

The MEA solar tracker market covers three chief countries – the UAE, Saudi Arabia, and South Africa. Accounting for a share of over 80% of the MEA solar tracker market, the UAE was the largest revenue generator in 2012. South Africa has been identified as a lucrative market for solar trackers, given the unrealized potential the country possesses in terms of renewable energy sources. However, the growth in this region might be restricted due to lack of research and development activities and adequate investments.Saudi Arabia, though still an emerging market, is expected to pick up pace over the next few years thanks to several renewable programs from the government. Increasing competition across the value chain has resulted in the declining cost of solar PV. This, backed by growing popularity of solar trackers across the MEA, is anticipated to fuel demand by 2019.Soitec SA, Amonix Inc., Mecasolar, BrightSource Energy Inc., SunEdison, SunPower Corporation, First Solar, and Yingli Solar are some of the prominent players competing for the top spot in the MEA solar tracker market.

Browse the full Solar Tracker (Single Axis and Dual Axis) Market for Solar PV, CPV, CSP Technology in Utility and Non Utility Applications – Middle East and Africa (MEA) Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2019 report at http://www.transparencymarketresearch.com/mea-solar-tracker-market.html

MEA Solar Tracker Market: Application Analysis

-Utility

-Non-utility

MEA Solar Tracker Market: Product Segment Analysis

-Single Axis

-Dual Axis

MEA Solar Tracker Market: Technology Analysis

-Solar PV

-CPV

-CSP

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