Solar PV Tracker Market Definition
A PV solar tracker is a system that places a solar PV panel toward the sun. Trackers are used to reduce the angle of occurrence between the sunlight and a photovoltaic panel. This increases the amount of energy created from a fixed amount of mounted power generating capacity. The primary benefit of a tracking system is to gather solar energy for the longest period of the day. The use of a highly portable, efficient solar tracker is beneficial to applications of the military, industrial, or residential variety. The use of solar trackers can increase the production of electricity.
The market study is broken down by Type (Single Axis, Dual Axis and Seasonal), by Application (Military, Industrial and Residential) and major geographies with country level splits.
Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Solar PV Tracker market throughout the predicted period.
Soltec (United States), Arctech Solar (India), NEXTracker (United States), Array Technologies (United States), Convert Italia (Italy), Exosun (United States), First Solar (United States), Grupo Clavijo (Spain), Ideematec (Germany), Mahindra Susten (India), SunLink (United States), NClave (Spain) and PV Hardware (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Scorpius Trackers (India), Solar Steel (Spain), STi Norland (Spain), Sun Action Trackers (United States) and Haosolar (China).
AdvanceMarketAnalytics has segmented the market of Global Solar PV Tracker market by Type, Application and Region.
On the basis of geography, the market of Solar PV Tracker has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Tracking System, the sub-segment i.e. Active will boost the Solar PV Tracker market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
On May 13, 2019 - Arctech Solar, a leading solar tracking and racking system provider, has launched its latest research achievement SkySmart-2, the industry’s first independent single-axis tracking system which introduces multiple fans driving up to 120 solar modules. It can solve the instability problem of regular 2P (two modules in portrait) tracking system and provide better stability for PV plant in extreme weather conditions.
- Technological Advancements Along With Growing Production Capacity
- Increasing Concerns of People towards Renewable Energy Sources
- Rising Demand for Double-Sided Solar Panels
- Rising Demand for Decentralized Energy Generation Systems
- Increasing Demand for Electricity due to Rising Population
- Growing Demand for Solar Photovoltaic Panel among Residential Applications
- Raising Demand for Solar Power Towers in Electricity Generation
- Increasing Government Initiatives to Promote Use of Solar Energy
- Rising Installations of Solar Power Systems around the World
- Higher Installation and Maintenance Costs
- Increase in Grid Connection Issues and Interconnection Delays
- Lack of Proper Infrastructure
- Proneness to Operational Failures
Key Target AudienceManufacturers of Solar PV Tracker, Suppliers of Solar PV Tracker, Wholesalers, Distributors and Retailers of Solar PV Tracker, Power Industry and Governmental Bodies
Key Finding and Research ObjectivesFocus of the study is to analyse characteristics that affect the nature of competition and pricing. Identifying Influencing factors keeping Solar PV Tracker Market Intense, factored with periodic analysis of CR4 & CR8 concentration ratio. In-depth Competitive analysis at product and Strategic business level. To analyse the competitive developments, such as new product launch and merger & acquisition, in the Solar PV Tracker market.
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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