Solar Tracker Market Size, Regional Outlook | Latest Trend, Growth | Application & Forecast 2024
Category: #Technology  By Deepak Pardhi  Date: 2019-09-11
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Solar Tracker Market Size, Regional Outlook | Latest Trend, Growth | Application & Forecast 2024

Asia Pacific solar tracker market is projected to witness substantial growth owing to the adoption of decentralized generation technologies along with the continuous expansion of off-grid electricity networks. Government aided funding towards the expansion of renewables coupled with intervention of financial institutions across the region will stimulate the product demand. In 2017, Regulators across China announced to invest USD 360 Billion with an aim to expand renewable energy sector across the country.

Germany solar tracker market is projected to surpass 1.5 GW by 2024. Strict government reforms relating to the reduction of carbon footprints along with advancing product applicability will positively influence the product penetration. Government initiatives towards replacement of fossil fuels with sustainable energy resources will drive the business outlook. The market premium schemes lay favorable mechanism for the financial assistance and ease of adoption of supplement renewable based installations. In 2017, the Regulators introduced the German Renewable Energy Act which targets 2.5 GW PV installations in a year.

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Solar power has emerged from a niche segment to mainstream electricity source, the prime factor that has upscaled solar tracker market demand immensely. Solar trackers help in improving the energy output by orienting the payloads toward the sun.  In fact, estimates claim that these trackers are capable of increasing the power output by almost 10-25% than their conventional counterparts, depending upon the geographic location of the tracking systems. Undoubtedly, technological innovations have played a pivotal role proliferating the overall market trends.

or instance, NEXTracker, one of the pioneers of solar tracker industry, has recently launched a solar plus energy storage solution named NX Fusion Plus, reportedly in November 2016. This groundbreaking innovation integrates a self-powered single-axis tracker, battery, software, and inverter into a single platform to provide a better ROI to the solar plant owner. This is arguably one of the biggest breakthroughs of recent times in the solar tracker market landscape, given the fact it is claimed to be the first of its kind. Some of the other biggies involved in solar tracker industry include Grupo Calvijo, Abengoa, SunPower, First Solar, and Wuxi Hao Solar, and, Array Technologies.

Favorable incentives such as soft loans, feed-in-tariffs, tax rebates implemented by governments of developing & developed nations have complemented solar tracker market penetration. Clean energy demand has witnessed a comprehensive upsurge with the growing urbanization, solar power demand being at the pinnacle. In this regard, it is important to note that the economics of solar power market has been improving rapidly. A large number of leading companies are inking solar deals not only to experience green credentials but also to diversify their supply sources at comparatively lower costs. Alongside, increasing global concern regarding the detrimental consequences of greenhouse gas emission has brought a renewed attention to the solar power sector, with a subsequent demand for solar tracker industry as well.  As per Global Market Insights, Inc. global solar tracker market is forecast to exceed a revenue of USD 27 billion by the end of 2024, exceeding an annual installation of 70 GW over the coming seven years.

Browse key industry insights spread across 300 pages with 817 market data tables & 11 figures & charts from the report, “Solar Tracker Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/solar-tracker-market-report

Key players across the solar tracker market include NEXTracker, Array Technologies, SunPower, Abengoa, Mecasolar, GRUPO CLAVIJO, SOITEC, Scorpius Trackers, Powerway, Smarttrak, AllEarth Renewables, Wuxi Hao Solar Technology, DEGERenergie, Titan Tracker, and Grupo Clavijo.

 

Glimpse of Table of Content (ToC)

Chapter 3. Solar Tracker Market Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 - 2024

3.3. Industry ecosystem analysis

3.3.1.   Vendor matrix

3.4. Innovation & sustainability

3.5. Technology landscape

3.5.1.   Solar Photovoltaic (PV)

3.5.2.   Concentrated Photovoltaic (CPV)

3.5.3.   Concentrated Solar Power (CSP)

3.6. Regulatory landscape

3.6.1.   U.S.

3.6.2.   UK

3.6.3.   France

3.6.4.   Germany

3.6.5.   China

3.6.6.   India

3.6.7.   Australia

3.6.8.   Chile

3.6.9.   South Africa

3.7. Feed in tariff landscape

3.8. Price trend analysis

3.8.1.   North America

3.8.2.   Europe

3.8.3.   Asia Pacific

3.8.4.   Middle East

3.8.5.   Africa

3.8.6.   Latin America

3.9. Leading investment scenario across the solar industry

3.10.    Industry impact forces

3.10.1. Growth drivers

3.10.1.1.    Favorable government initiatives

3.10.1.2.    Growing deployment of solar PV systems

3.10.1.3.    Growing demand for sustainable energy

3.10.2. Industry pitfalls & challenges

3.10.2.1.    High initial cost

3.11.    Growth potential analysis

3.12.         Porter’s analysis

3.13.         Competitive landscape, 2016

3.13.1. Strategy dashboard

3.14.  PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/solar-tracker-market-report

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About Author

Deepak Pardhi    

Deepak Pardhi

Deepak Pardhi carries a brief yet notable experience in the digital marketing domain having worked on several projects across a range of niche verticals. Deepak is endorsed with a B.Tech degree in electrical & electronics engineering.

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