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Global Solar Tracker Market: By Technology: Solar PV, Concentrator Photovoltaic (CPV), Concentrated Solar Power (CSP), Others; By Application: Utility, Non-Utility; By Product: Single Axis, Dual Axis; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Solar Tracker Market Outlook

The global solar tracker market was estimated at 27 GW in 2020 and is expected to grow at a CAGR of 30% in the forecast period of 2021-2026.

 

Global Solar Tracker Market

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The solar tracker market is driven by the increasing need for solar cells or photovoltaic cells and solar tracker benefits such as improved cell performance. Photovoltaic cells are used with the help of sunlight to transform solar energy into a flow of electrons.

 

Properties and Applications

A solar tracker is a device directed toward the sun by a payload. Trackers are used to enable optical components in CPV and CSP systems in concentrator photovoltaics (CPV) and concentrated solar power (CSP) applications.

 

Global Solar Tracker Market By Application

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The solar tracker market can be segmented into technology, applications, and products. The industry can be broadly categorised based on technology into:

  • Solar PV
  • Concentrator Photovoltaic (CPV)
  • Concentrated Solar Power (CSP)
  • Others

The industry can be divided based on applications as:

  • Utility 
  • Non-Utility
  • Others

Based on the products, the industry can be divided into:

  • Single Axis
  • Dual Axis

The EMR report looks into the regional solar tracker markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific regions.

 

Global Solar Tracker Market By Region

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Market Analysis

The solar tracker market is driven by the rapid increase in the use of solar trackers. Solar monitor in the direction of the sun guides solar panels or modules. The two types of material used for this purpose are the single axis and dual axis. The former product category is commonly used as it is fairly cost-effective and easy to install and run. Due to the increasing number of installed capacities, Europe and North America had a significant market share in the past years and are projected to increase impressively during the forecast period. In addition, one of the key drivers of consumer demand in these regions is the favourable legislation for installing solar trackers. It is predicted that the involvement of well-established companies in North America, increasing R&D programs, strict regulations for regulating environmental emissions, and the increased funding, feed-in tariffs, and government subsidies will further push the solar tracker market over the forecast period. Favourable government regulations are projected to have a positive impact on the industry growth in most regions around the globe. In addition, the increasing numbers of government incentives to encourage the value and use of solar panels are also projected to boost the solar tracker market development.

 

Competitive Landscape

The report presents a detailed analysis of the following key players in the global solar tracker market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • SunPower Corporation (NASDAQ: SPWR)
  • Abengoa S.A.
  • Array Technologies Inc.
  • AllEarth Renewables
  • DEGERenergie GmbH & Co. KG
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter's Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Technology, Application, Product, Region
Breakup by Technology Solar PV, Concentrator Photovoltaic (CPV), Concentrated Solar Power (CSP), Others
Breakup by Application Utility, Non-Utility, Others
Breakup by Product Single Axis, Dual Axis
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered SunPower Corporation (NASDAQ: SPWR), Abengoa S.A., Array Technologies Inc., AllEarth Renewables, DEGERenergie GmbH & Co. KG, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
    1.1    Objectives of the Study
        1.1.1    Research Objective
        1.1.2    Key Findings of the Report
2    Research Methodology
    2.1    Data Extraction
    2.2    Data Corroboration
    2.3    Market Structure
    2.4    Assumptions
    2.5    Market Models
3    Introduction
    3.1    Market Outlook
    3.2    Key Industry Trends
    3.3    Market Scope and Segmentation
    3.4    Additional Insights
4    Executive Summary
    4.1    Key Market Developments
    4.2    Market Analysis
    4.3    Key Players
    4.4    Cost Structure
    4.5    Market Revenue and Growth
5    Market Dynamics
    5.1    Market Driver Analysis
    5.2    Market Restraint Analysis
    5.3    Industry Challenges
    5.4    Industry Opportunities
6    Global Solar Tracker Market Analysis
    6.1    Global Solar Tracker Historical Historical Market (2016-2020) & Forecast (2021-2026)
    6.2    Global Solar Tracker Market Breakup by Technology
        6.2.1    Solar PV
        6.2.2    Concentrator Photovoltaic (CPV)
        6.2.3    Concentrated Solar Power (CSP)
        6.2.4    Others
    6.3    Global Solar Tracker Market Breakup by Technology: Historical Market (2016-2020) & Forecast (2021-2026)
        6.3.1    Solar PV
        6.3.2    Concentrator Photovoltaic (CPV)
        6.3.3    Concentrated Solar Power (CSP)
        6.3.4    Others
    6.4    Global Solar Tracker Market Breakup by Application
        6.4.1    Utility  
        6.4.2    Non-Utility
        6.4.3    Others
    6.5    Global Solar Tracker Market Breakup by Application: Historical Market (2016-2020) & Forecast (2021-2026)
        6.5.1    Utility  
        6.5.2    Non-Utility
        6.5.3    Others
    6.6    Global Solar Tracker Market Breakup by Product
        6.6.1    Single Axis
        6.6.2    Dual Axis 
    6.7    Global Solar Tracker Market Breakup by Product: Historical Market (2016-2020) & Forecast (2021-2026)
        6.7.1    Single Axis
        6.7.2    Dual Axis 
    6.8    Global Solar Tracker Market Breakup by Region
        6.8.1    North America
            6.8.1.1    United States of America
            6.8.1.2    Canada
        6.8.2    Europe
            6.8.2.1    Germany
            6.8.2.2    United Kingdom
            6.8.2.3    France
            6.8.2.4    Italy
            6.8.2.5    Others
        6.8.3    Asia Pacific
            6.8.3.1    China
            6.8.3.2    Japan
            6.8.3.3    India
            6.8.3.4    ASEAN
            6.8.3.5    Others
        6.8.4    Latin America
            6.8.4.1    Brazil
            6.8.4.2    Argentina
            6.8.4.3    Mexico
            6.8.4.4    Others
        6.8.5    Middle East & Africa
            6.8.5.1    Saudi Arabia
            6.8.5.2    United Arab Emirates
            6.8.5.3    Nigeria
            6.8.5.4    South Africa
            6.8.5.5    Others
    6.9    Global Solar Tracker Market Breakup by Region: Historical Market (2016-2020) & Forecast (2021-2026)
        6.9.1    North America
            6.9.1.1    United States of America
            6.9.1.2    Canada
        6.9.2    Europe
            6.9.2.1    Germany
            6.9.2.2    United Kingdom
            6.9.2.3    France
            6.9.2.4    Italy
            6.9.2.5    Others
        6.9.3    Asia Pacific
            6.9.3.1    China
            6.9.3.2    Japan
            6.9.3.3    India
            6.9.3.4    ASEAN
            6.9.3.5    Others
        6.9.4    Latin America
            6.9.4.1    Brazil
            6.9.4.2    Argentina
            6.9.4.3    Mexico
            6.9.4.4    Others
        6.9.5    Middle East & Africa
            6.9.5.1    Saudi Arabia
            6.9.5.2    United Arab Emirates
            6.9.5.3    Nigeria
            6.9.5.4    South Africa
            6.9.5.5    Others
7    SWOT Analysis
    7.1    Overview
    7.2    Strengths
    7.3    Weaknesses
    7.4    Opportunities
    7.5    Threats
8    Porter’s Five Forces Analysis
    8.1    Overview
    8.2    Buyer’s Power
    8.3    Supplier’s Power
    8.4    New Entrants
    8.5    Degree of Rivalry
    8.6    Substitutes
9    Competitive Landscape & Supplier Analysis
    9.1    SunPower Corporation (NASDAQ: SPWR)
        9.1.1    Company Overview
        9.1.2    Financial Analysis
    9.2    Abengoa S.A.
        9.2.1    Company Overview
        9.2.2    Financial Analysis
    9.3    Array Technologies Inc.
        9.3.1    Company Overview
        9.3.2    Financial Analysis
    9.4    AllEarth Renewables
        9.4.1    Company Overview
        9.4.2    Financial Analysis
    9.5    DEGERenergie GmbH & Co. KG
        9.5.1    Company Overview
        9.5.2    Financial Analysis
    9.6    Others
10    Industry Events and Developments 

Key Questions Answered in the Report

The global solar tracker market reached the volume of about 27 GW.

The market is projected to grow at a CAGR of 30% between 2021 and 2026.

The major drivers of the industry include increasing R&D programs, strict regulations for regulating environmental emissions, and the increased funding, feed-in tariffs, and government subsidies.

The increasing need for solar cells or photovoltaic cells and solar tracker benefits such as improved cell performance is expected to be a key trend guiding the growth of the industry.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The technology-based classifications of solar trackers available are Ssolar PV, concentrator photovoltaic (CPV), and concentrated solar power (CSP), amongst others.

Solar trackers find applications as utility, and non-utility, amongst others.

There are single axis and dual axis products for solar trackers.

The leading players in this market are SunPower Corporation (NASDAQ: SPWR), Abengoa S.A., Array Technologies Inc., AllEarth Renewables, and DEGERenergie GmbH & Co. KG, amongst others.

Analyst Review

The global solar tracker market is estimated at 27 GW in 2020, driven by the include increasing R&D programs, strict regulations for regulating environmental emissions, and the increased funding, feed-in tariffs, and government subsidies. Aided by the increasing need for solar cells or photovoltaic cells and solar tracker benefits such as improved cell performance, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 30%.

EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on technology, the solar trackers market can be segmented into solar PV, concentrator photovoltaic (CPV), and concentrated solar power (CSP), amongst others. By application, the industry can be divided into utility, and non-utility, amongst others. There are single axis and dual axis products for solar trackers. The major regional markets in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific. The leading players in this market are SunPower Corporation (NASDAQ: SPWR), Abengoa S.A., Array Technologies Inc., AllEarth Renewables, and DEGERenergie GmbH & Co. KG, amongst others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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