0
2020
Solar Tracker Installation Market

Solar Tracker Installation Market

by Type (Single Axis and Dual Axis) and End-Use Industry (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2019-2026

Report Code: A05955
Pages: 233
Jan 2020 | 8258 Views
Author(s) : Ayushi C , Eswara P
Tables: 154
Charts: 51
  • Formats*:

  • Single User License, Five User
    License & Enterprise User License

  • Data Pack Excel License

  • It comes with the additional cost
    of $2500.00 contact sales.

 

COVID-19

Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Solar Tracker Installation Market

Request Now !

Solar Tracker Installation Market Outlook - 2026

The global solar tracker installation market was valued at $162.7 billion in 2018 and is projected to reach $379.2 billion by 2026, growing at a CAGR of 11.1% from 2019 to 2026. A solar tracker is a device meant to turn the photovoltaic modules in such a way that it continuously faces the sun. This is done to maximize the irradiation received by the photovoltaic array.

Solar tracker installation market growth is driven by supportive government regulations that are escalating the installment of solar panels. The impact of government regulation on the global solar tracker installation market is positive. These regulations are motivating the installation of solar panels. In the U.S., China, and other countries, solar investments have been motivated mainly by the requirements of states’ renewable electricity standards. Solar projects also get assistance from federal incentives such as the federal investment tax credit, which enables to cover 30% of the initial costs. Solar projects built in the Western U.S. on federal lands are benefitting by state and federal agencies that coordinate in studies and agree on investments that are related to reduce environmental impacts. 

Solar Tracker Installation Market

Source: AMR analysis

According to the International Energy Agency, the share of renewable energy to meet the global energy demand is predicted to grow in the next five years to reach 12.4% in 2023. Renewable energy is derived from natural processes such as wind and sunlight. Solar, geothermal, wind, bioenergy, hydropower, and ocean power are some of the major sources of renewable energy. Currently, renewable energy is utilized in heating, electricity, cooling, and transport sectors. Furthermore, increase in concerns regarding greenhouse gases emissions and growth in need for energy security are expected to drive the demand for solar energy. Therefore, the demand for solar tracker installation is also expected to increase. This in turn will boost the growth of the global solar tracker installation market.

Developing new renewable resources require large initial investments to build infrastructure. These investments increase the cost of providing renewable electricity, especially during early years. Initially, the developers need to find publicly acceptable sites with good resources and with access to transmission lines. Finding a potential solar site requires several years of monitoring to determine whether they are suitable. In addition, the workers need to be trained to install, operate, and maintain the new technologies. Some renewables require operating experiences in certain climatic conditions, before the performance can be optimized. All these factors increase the cost of installing solar panels. This high cost is expected to hamper the market growth as it limits the use of solar trackers.

Based on type, the solar tracker installation market analysis is done into single-axis and dual-axis tracker. The single-axis tracker segment is further divided into horizontal and vertical tracker. Single axis trackers turn on one axis moving back and forth in a solitary way. Various kinds of single-pivot trackers are used, and this include horizontally and vertically adjusted. Double axis trackers move in two distinct ways. Types incorporate tip-tilt and azimuth-altitude. A double axis tracker is used to situating a mirror and divert daylight along a fixed axis toward a stationary collector. Since these trackers pursue the sun vertically and on a level plane, they help acquire most sunlight. Hence, based on type, the global solar tracker installation market is segmented into single axis and dual axis tracker.

Solar Tracker Installation Market
By Type

Your browser does not support the canvas element.

Dual Axis is projected as the fastest growing segment.

Get more information on this report : Request Sample Pages

Based on application, the global solar tracker installation market is segmented into residential, commercial, and industrial. In these applications, solar trackers are utilized to orient photovoltaic panels, reflectors, lenses, or other optical devices toward the sun. As the sun's position in the sky shifts based on season, trackers are employed to align the collection system to maximize energy production. Region wise, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. 

Solar Tracker Installation Market
By End-user Industry

Your browser does not support the canvas element.

Industrial segment is projected as the fastest growing segment.

Get more information on this report : Request Sample Pages

The key players involved in the global solar tracker installation industry include Abengoa SE, First Solar, Inc., Tata Power Solar Systems Limited, Trina Solar Co. Ltd., BrightSource Energy, Inc., Siemens AG, PVHardware, Arctech Solar, and NEXTracker. In order to stay competitive in the industry, these market players are adopting different strategies such as product launch, partnership, merger, and acquisition. These companies are additionally implementing a R&D in solar tracker output and performance to maintain their position in the market. In an instance, PVHardware, one of the key players in the solar tracker installation market, developed a product named Axone duo (double row solar tracker), which draws a cutting-edge technology and photovoltaic tradition. This results in a tracker with better balance of controllers.

Solar Tracker Installation Market
By Region

2026
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific would exhibit a CAGR of 10.8% during 2019-2026.

Get more information on this report : Request Sample Pages

Key Benefits for Stakeholders:

  • Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for building strategies. 
  • It outlines the current trends and future scenario of the solar tracker installation market size from 2018 to 2025 to understand the prevailing opportunities and potential investment pockets.
  • Major countries in four major regions, namely, North America, Asia-Pacific, Europe, and LAMEA have been mapped according to their individual revenue contribution in the solar tracker installation market share at regional and country level.
  • The solar tracker installation market trends such as drivers, restraints, and opportunities and their detailed impact analysis is elucidated in the study.
  • The profiles of key players along with their contribution in market growth are enlisted in the report.
  • The solar tracker installation market forecast is studied from the 2019-2026 year. 

Solar Tracker Installation Market Report Highlights

Aspects Details
By Type
  • Single axis
    • Horizontal
    • Vertical
  • Dual axis
By Application
  • Residential
  • Commercial
  • Industrial
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, France, Spain, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players ABENGOA SE, FIRST SOLAR, INC., TATA POWER SOLAR SYSTEMS LIMITED., TRINA SOLAR CO., LTD., BRIGHTSOURCE ENERGY, INC., SIEMENS AG, PVHardware, Arctech Solar, Scorpius Trackers, NEXTracker
 

Loading Table Of Content...


 
 

The solar industry is consistently advancing either to address difficulties inside a market or to improve cost and accessibility. Sun trackers have been around from a longer time; however, continuous development shows that the market is more dynamic and is expected to expand significantly in the recent years. Valmont Industrial’s acquisition of Convert in 2018 is one of the significant steps taken in global solar tracker installation market. Valmont have established themselves in metal fabrication, galvanization, coatings, and corrosion protection technologies. It has a strong presence in North America as well as in other countries. It is expected that Valmont’s capability in solar transmission towers, distribution pole manufacturing, and design & engineering will improve TRJ Solar Tracker.

It is expected that the government regulation will also play an important role in boosting the growth of the solar tracker installation market. In developing country such as India, solar technologies offer attractive opportunities to save electricity. The clean and emission-free source of energy is expected to reduce fossil fuel consumption significantly. This is projected to reduce carbon footprint of the industrial sector, assisting nations to reduce their greenhouse emissions. The Government of India (Gol) through Bureau of Energy Efficiency has initiated a massive program to conserve energy and promote CSP technologies. These technologies are also offering opportunities for development of homegrown technologies that can create local jobs and take “Make in India” initiative forward.  All these initiatives are expected to increase the demand for solar technology, which in turn is anticipated to boost the demand for solar tracker installation.
 

PURCHASE OPTIONS

Call or Email us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : + 44-845-528-1300
Email : help@alliedmarketresearch.com
 
FREQUENTLY ASKED QUESTIONS?

A. Increasing installation of solar panels across the globe, environmental pollution, rising price of fuels, and growing awareness among people toward clean energy.

A. The Solar Tracker Installation market is projected to reach $379.2 billion by 2026.

A. To get latest version of solar tracker installation market report

A. Europe will provide more business opportunites for solar tracker installation in future.

A. Supportive government regulations is one of the key trends observed in the solar tracker installation market. The regulations are motivating to install solar panels,

A. Based on top growing big corporation, we select top 10 players.

A. Based on application, the global solar tracker installation market is segmented into residential, commercial, and industrial.

A. Companies are implementing R&D in solar tracker output and performance to maintain their position in the market. In an instance, PVHardware, one of the key players in the solar tracker market

A. Asia-Pacific was the highest revenue contributor, accounting for $111.6 million in 2018, and is estimated to reach $254.8 million by 2026, with a CAGR of 10.8%.

A. The global solar tracker installation market was valued at $162.7 billion in 2018.

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
RELATED TAGS

Purchase Full Report of
Solar Tracker Installation Market

Start reading instantly.
This Report and over 19,657+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,456
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
    (Jan 2021 - Jan 2022)
  • Data Pack
  • $3,840
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Jan 2021 - Jan 2022)
  • Single User
  • $5,769
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Jan 2021 - Jan 2022)
  • Five Users
  • $6,450
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Jan 2021 - Jan 2022)
  • Enterprise
    License/PDF

  • $10,995
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Jan 2021 - Jan 2022)
  • Library
    Membership

  • $ 1,175
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

RELATED REPORTS
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers