New York, Sept. 14, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Solar Tracker For Power Generation Global Market Report 2022" - https://www.reportlinker.com/p06319450/?utm_source=GNW
Ltd, Meca Solar, SunPower Corporation, Haosolar Co. Ltd., Scorpius Trackers Private Limited, AllEarth Renewables, DEGER Energies GmbH & Co. KG, Convert Italia SpA, and GameChange Solar.
The global solar tracker for power generation market is expected to grow from $5.45 billion in 2021 to $5.98 billion in 2022 at a compound annual growth rate (CAGR) of 9.7%. The solar tracker for power generation market is expected to grow to $8.35 billion in 2026 at a CAGR of 8.7%.
The solar tracker for the power generation market consists of sales of solar trackers by entities (organizations, sole traders, and partnerships) that are used to generate power by enhancing the efficiency of solar panels by capturing the maximum solar energy and maximising the solar panel output.A solar tracker for power generation refers to positioning a photovoltaic panel at an optimum angle towards the sun to capture maximum sunlight and enhance the electricity production capacity of a solar plant.
These are being used to generate clean energy and minimize carbon emissions during the power production process.
The main products of solar trackers for power generation are the single-axis and dual-axis.Single-axis trackers refer to a technology that adjusts the position of a solar panel along an axis to follow the sun’s changing position throughout the passing days and years.
The technologies used are PV and CSP. The various applications involved are residential, commercial, industrial, and utility.
North America was the largest region in the solar tracker for power generation market in 2021. The regions covered in this solar tracker for power generation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The solar tracker for power generation market research report is one of a series of new reports that provides solar tracker for power generation market statistics, including a solar tracker for power generation industry global market size, regional shares, competitors with a solar tracker for power generation market share, detailed solar tracker for power generation market segments, market trends and opportunities, and any further data you may need to thrive in the solar tracker for power generation industry. This solar tracker for power generation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
The rising power demand for renewable energy sources is expected to propel the growth of solar trackers for the power generation market going forward.Renewable energy is the energy that comes from sources that are continuously replenished naturally, such as the sun, rain, geothermal heat, and waves.
Solar trackers use renewable energy sources for the generation of power.For instance, in 2019, according to the International Energy Agency, an autonomous intergovernmental organization, renewable electricity generation rose by 6%, with wind and solar PV technologies together accounting for 64% of this increase.
Therefore, the rise in power demand from renewable sources is driving the solar tracker for the power generation market.
The development of innovative products is the key trend gaining popularity in the solar tracker for the power generation market.Major companies operating in the solar tracker for power generation market are focused on developing innovative products to strengthen their position in the market.
For instance, in June 2021, Soltec, a Spain-based single-axis solar tracker manufacturer, launched the SFOne solar tracker.The new SFOne solar tracker is a highly adaptable solar tracker and can be used for any type of project across the globe.
The stone now has a double row 1P configuration as well as Dy wind technology.
In September 2020, Trina Solar, a China-based solar products and services provider, acquired NClave for an undisclosed amount.Trina Solar can strategically expand its business in the smart PV supplier segment by making NClave an independent subsidiary of Trina Solar.
Nclave is a Spanish company and a leading manufacturer of solar trackers.
The countries covered in the solar tracker for power generation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06319450/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
