Dublin, Aug. 21, 2019 (GLOBE NEWSWIRE) -- The "Solar Tracker Market Size, Share & Trends Analysis Report By Technology (Solar PV, Concentrator PV), By Product (Single Axis, Dual Axis), By Application, By Region, And Segment, Forecasts 2019 - 2025" report has been added to ResearchAndMarkets.com's offering.
The global solar tracker market is anticipated to reach USD 7.35 billion by 2025. It is anticipated to expand at a CAGR of 14.1% during the forecast period.
Increasing demand for photovoltaic cells and favorable government regulations in most regions across the globe is expected to drive the growth. Rising prices of electricity are also anticipated to fuel the growth in the forthcoming years.
North America and Europe held considerable market share in the past and are expected to drive the growth in the future as well due to growing installed capacities. Moreover, supportive regulations for installation and increasing R&D for improvement of the technology are also projected to propel the market.
Growing purchase rate of solar trackers is an opportunity for the manufacturers to achieve economies of scale. Moreover, increasing efforts by the producers to expand product portfolio and strengthen their market is anticipated to create more opportunities for the market players.
Increasing favorable investment on unconventional energy source like FIT schemes by Spain is trending in the market. Moreover, increasing use of Concentrator Photovoltaic (CPV) in solar trackers for more efficiency and due to less cost of CPV systems is another trend observed in the market. These trends are expected to contribute significantly to the market growth.
Further key findings from the report suggest:
- Demand for solar trackers is expected to grow significantly during the forecast period due to supportive regulations from the government, growing installation capacities, and strict regulations for controlling environmental emissions
- Photovoltaic cells segment is expected to propel at a CAGR of 18.4% in terms of installed capacity from 2019 to 2025 due to increasing demand and supply gap for electricity and better compatibility of photovoltaic cells with the photovoltaic modules technologies
- Utility segment accounted for a considerable market share and is expected expand at a CAGR of 18.8% from 2019 to 2025 due to rising electricity prices and demand for renewable energy source
- Single axis tracker is also expected to expand at a CAGR of 13.7% in terms of revenue in the forthcoming years owing to increasing preference for residential and commercial use and high performance of solar trackers due to single axis tracker in high resolution areas
- Manufacturers in the solar tracker market focus on shifting their manufacturing bases in emerging economies like China and India due to low production and labor cost in these regions
Key Topics Covered
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segmental Outlook
2.3 Competitive Insights
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage
3.1.1 Global Solar Tracker Market Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.4 Technology Overview
3.4.1 Solar Photovoltaic
3.4.2 Concentrator Photovoltaic (CPV)
3.4.3 Concentrated solar power (CSP)
3.4.4 Single axis solar tracker
3.4.5 Dual axis solar tracker
3.4.6 DEGER Tracking Systems
3.4.7 Altitude/elevation Tracking
3.4.8 Chronological Solar Tracker
3.4.9 Active tracker
3.5 Regulatory Framework
3.5.1 Standard & Compliances
3.6 Market Dynamics
3.6.1 Market Driver analysis
3.6.1.1 Increasing demand for photovoltaic cells
3.6.1.2 Solar tracker increases the efficiency of solar cells
3.6.1.3 Government incentive schemes and Feed-in Tariff's (FITs)
3.6.2 Market restraint analysis
3.6.2.1 Capital intensive technology
3.7 Business Environment Analysis: Solar Tracker Market
3.7.1 Industry Analysis - Porters Model
3.7.1.1 Supplier Power
3.7.1.2 Buyer Power
3.7.1.3 Substitution Threat
3.7.1.4 Threat from New Entrant
3.7.1.5 Industry Rivalry
3.7.2 PESTEL ANALYSIS
3.7.2.1 Political Landscape
3.7.2.2 Economic Landscape
3.7.2.3 Social Landscape
3.7.2.4 Technology Landscape
3.7.2.5 Environmental Landscape
3.7.2.6 Legal Landscape
Chapter 4 Solar Tracker Market: By Technology Estimates & Trend Analysis
4.1 Solar tracker Market: Technology Movement Analysis
4.2 Market, by Technology, 2014 - 2025 (Megawatts)
4.3 Solar PV
4.4 Concentrator Photovoltaic (CPV)
4.5 Concentrator Photovoltaic (CPV)
Chapter 5 Solar Tracker Market: By Product Estimate & Trend Analysis
5.1 Solar tracker Market: Product Movement Analysis
5.2 Market, by Product, 2014 - 2025 (Megawatts) (USD Million)
5.3 Single axis
5.4 Dual axis
Chapter 6 Solar Tracker Market: By Application Estimates & Trend Analysis
6.1 Solar tracker Market: Application Movement Analysis
6.2 Market, by Technology, 2014 - 2025 (Megawatts)
6.3 Utility
6.4 Non-utility
Chapter 7 Solar Tracker Market: Regional Estimates & Trend Analysis
7.1 Market, by Region, 2014 - 2025
7.2 North America
7.3 Europe
7.4 Asia Pacific
7.5 Central & South America
7.6 Middle East & Africa
Chapter 8 Solar Tracker Market: Competitive Landscape
8.1 Competitive Environment
8.2 Strategy Framework
8.3 Vendor Landscape
8.4 Public Companies
8.5 Private Companies
Chapter 9 Solar Tracker Market: Company Profiles
9.1 SunPower Corporation
9.2 Wuxi HaoSolar Technology
9.3 Abengoa Solar S.A.
9.4 Array Technologies Inc.
9.5 AllEarth Renewables Inc.
9.6 DEGERenergie GmbH
9.7 Grupo Clavijo
9.8 Titan Tracker SL
9.9 Powerway Renewable Energy Co.
9.10 Energia Ercam SL
9.11 Mecasolar Espaa SL
9.12 First Solar Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ehak7d
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