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Source : Global Market Insights, Inc

Solar Tracker Market revenue to surpass USD 3.5 Bn by 2026: Global Market Insights, Inc.

Middle East solar tracker market will witness growth of over 15% during the forecast period on account of rising demand for electricity to sustain its expanding commercial sector base.

Selbyville, Delaware, June 15, 2020 (GLOBE NEWSWIRE) --

According to latest report “Solar Tracker Market by Product (Single Axis [Horizontal, Vertical], Dual Axis), Application (Residential, Commercial, Utility), Regional Outlook, Price Trend, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of solar trackers will reach $3.5 billion by 2026.

Shifting focus toward the adoption of clean energy technologies will boost the solar tracker market revenue. The ongoing advancements in the tracker systems along with growing demand for efficiency across solar energy systems will further influence the industry growth.

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Single axis solar tracker is predicted to observe substantial growth till 2026 on account of their cost effectiveness along with high reliability index. Single axis trackers are majorly classified in two segments i.e. horizontal axis and vertical axis. Minimal maintenance costs along with the integration of digital monitoring systems will propel the market growth.

Ongoing efforts toward promotion of energy efficiency along with rapid deployment of trackers across residential sector has augmented the industry outlook Residential and other small-scale solar PV installations primarily utilize solar trackers on account of its ability to enhance capacity utilization for the system. The tracker systems to align the module angle with the sun’s trajectory from sunrise to sunset delivers nearly 50% more energy per year than stationary solar panels, thereby yielding a sooner return on investment.

The Middle East solar tracker market will witness growth of over 15% during the forecast period on account of rising demand for electricity to sustain its expanding commercial sector base. The rising investments by the government and private & commercial institutions toward development of new solar power systems in line with growing decentralized energy generation are positively contributing toward the industry growth.

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Few major findings of the solar tracker market report include:

  • Ongoing transition toward RE technologies from conventional practices such as coal-based power generation will stimulate the demand for solar trackers across the globe
  • Rapid investments toward solar PV modules across residential and commercial applications is anticipated to fuel the market growth.
  • Technological innovation toward product design for efficiency improvement and cost reduction will positively stimulate the market demand.
  • Growing demand for high efficiency solar systems to drive the solar tracker adoption.
  • Major players operating in the market include NEXTracker, Inc., SunPower Corporation, Meca Solar, SOLTEC, Titan Tracker, First Solar, and GameChange Solar.

Table of Contents (ToC) of the report:

Chapter 4       Solar Tracker Market, By Product

4.1       Global market share by product, 2019 & 2026

4.2       Single Axis

4.2.1    Global market from single axis, 2015 - 2026

4.2.2    Global market from single axis, by region, 2015 - 2026

4.2.3    Horizontal Global market from horizontal, 2015 - 2026 Global market from horizontal, by region, 2015 - 2026

4.2.4    Vertical Global market from vertical, 2015 - 2026 Global market from vertical, by region, 2015 - 2026

4.3       Dual axis

4.3.1    Global market from dual axis, 2015 - 2026

4.3.2    Global market from dual axis, by region, 2015 - 2026

Chapter 5       Solar Tracker Market, By Application

5.1       Global market share by application, 2019 & 2026

5.2       Residential

5.2.1    Global market from residential, 2015 - 2026

5.2.2    Global market from residential, by region, 2015 - 2026

5.3       Commercial

5.3.1    Global market from commercial, 2015 - 2026

5.3.2    Global market from commercial, by region, 2015 - 2026

5.4       Utility

5.4.1    Global market from utility, 2015 - 2026

5.4.2    Global market from utility, by region, 2015 - 2026

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About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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