About Solar Trackers
A solar tracker is a system which positions an object at an angle relative to the sun. The main applications of solar trackers are positioning solar panels so that they remain perpendicular to the sun’s rays and positioning space telescopes so that they can determine the sun’s direction. The perpendicular position of the solar panels helps to absorb more sunlight and reduces light reflection. Solar panels make electric energy from the sunlight. Thus solar tracker helps to increase the production of electric energy. Solar tracker market revenue was xx.xx Million USD in 2014, grew to xx.xx Million USD in 2019, and will reach xx.xx Million USD in 2024, with a CAGR of x.x% during 2019-2024.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Solar Trackers market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Array Technologies (United States), Abengoa Solar S.A. (Spain), AllEarth Renewables (United States), Energia Ercam (Mexico), DEGERenergie (Germany), Grupo Clavijo (Spain), SunPower Corporation (United States), First Solar (United States), Mecanizados Solares, S.L. Company (Mexico) and Haosolar Co. Ltd (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Soitec (France), Powerway Renewable Energy Co. Ltd. (China) and Titan Tracker SL (United States).
Segmentation Overview
AMA Research has segmented the market of Global Solar Trackers market by Type (Single Axis and Dual Axis), Application (Utility, Commercial and Residential) and Region.
On the basis of geography, the market of Solar Trackers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Solar PV will boost the Solar Trackers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Trend from Non-Renewable To Renewable Energy Sources and Advancements in Solar Tracker System
Market Growth Drivers:
Government Initiatives for Production of Solar Energy and Increasing Awareness about Green Energy Production among People
Challenges:
Lack of Skilled Personnel
Restraints:
High Installation Cost of System
Opportunities:
Favorable Government Rules and Regulations in Emerging Countries and Increasing Solar Panel Installations Worldwide
On 5th September 2018, Deger Energie GmbH & Co. KG, the Germany-based tracker manufacturer, teamed up with Kavitsu Robotronix Pvt Ltd to create a new joint venture company, Kavitsu Deger Pvt Ltd. Under the partnership, the two will set up a PV tracker manufacturing facility in Satara, Maharashtra.
Key Target Audience
Solar Tracker Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.