Solar Tracker Market Outlook and Forecast Report By 2025

24^th February 2020 – Latest Research Report on Solar Tracker Market begins with a deep introduction and then search broad into specific segments such as raw material, application, end user, and region, policy study, value chain structure, and upcoming trends in particular segments or regions. The report on Solar Tracker prepare a case for investments in different regions based on a practical view of their regulatory outline, manufacturing dynamics, and availability of skills and resources in that region.

The global solar tracker market is expected to generate 26.77 GW of installed capacity by 2025. The market is subject to witness a substantial growth due to their ability to increase the efficiency of mounted payloads including mirrors, panels and parabolic troughs. Solar tracker is capable of increasing efficiency of the payloads by around 30%. Growing demand for sustainable energy resources, coupled with numerous local government initiatives and schemes to fulfill growing demand of electricity are expected to boost the growth of solar tracker industry over the forecast period.

Top key Players

·         AllEarth Renewables

·         EnergiaErcam

·         DEGERenergie

·         GrupoClavijo

·         Mecanizados Solares

·         S.L.

·         Mechatron Solutions

·         SmartTrak

·         PVPowerway

·         Titan Tracker Co

·         Sun Power Co.

Numerous benefits are obtained with the use of solar tracker includes sustainability, reduction in greenhouse gas emission, and low operational cost, thereby spurring the growth of the market over the forecast period. Globally, the solar tracker market is predicted to grow at CAGR of 18.6% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.

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The reduction in the cost of solar tracker and solar PV is key reason for growing demand of the solar PV. In recent years, cost of solar tracker is reduced by significant amount, becoming major factor for growth of the solar tracker industry. The reduction in the cost of the solar trackers is credited to the enhancement in material efficiency, manufacturing process, and financial prudence. Solar trackers are utilized in industrial, commercial and domestic purposes due to its flexibility during the installation processes.

Rising prices of crude oil, numerous environmental concerns with the installation of hydro power station, and large amount of initial cost to set up nuclear power plants and health hazards due to nuclear radiation are crucial factors for adoption of solar power. Alongside, numerous government initiatives, schemes and subsidies to promote use of solar powered devices and generation of solar energy are propelling market growth of the solar tracker.

The primary purpose of the solar tracker is to orient a payload according to movement of the Sun. Payloads are commonly includes solar PV panels, parabolic channels, Fresnel glasses, lenses or the mirrors of a heliostat. Other essential components for solar trackers include mountings, electrical cables, and other electronic components for a proper set up. Solar tracker usually consists of a solar tracking system in order to monitor and improve overall energy conversion rate and embed advanced battery solutions as reduction in the cost for storage devices is also on rise. A solar tracker is considered as balance of system (BOS) because all components associated with the module are easily identified and dost not include excess of hardware.

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