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Solar Tracker Market is Expected to Witness High Growth During the Forecast Period

Author : Ronak Bora | Published Date : 2020-09-02 

Solar tracker market has experienced substantial improvement with increasing focus on the promotion of energy-efficient tools and solutions across both commercial and residential sectors. Industry players putting in significant efforts on product innovations to improve device offering. Taking May 2020 for instance, Point Load Power released its flagship solar tracker technology, dubbed PV Booster Gen 2. The new rooftop solar tracking system was developed to maximize solar energy production from bifacial and mono facial solar panels, generating almost 70% more energy per panel than conventional fixed-tilt rooftop mounting systems.

Persistent increase in carbon emissions across the globe along with rapidly depleting fossil fuels are anticipated to complement solar tracker market growth. Various federal bodies across the world have started to shift their focus towards adopting clean energy technologies as a primary source of energy. Surging demand for electricity due to rapid urbanization and development of advanced commercial structures has driven the adoption of solar powered systems.

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The need to increase the performance of solar systems has led to the adoption of solar trackers.  Increasing concerns over climate change have encouraged various governments to implement new initiatives to drive the adoption of clean energy sources. For instance, numerous nations have inked the Paris climate agreement, pledging to reduce global carbon footprint. This agreement requires countries to form reforms & policies that focus on minimizing carbon emission with the help of effective use of sustainable energy systems.

Meanwhile, in a bid to reduce carbon footprint across business operations, companies has started to harness solar energy. In 2020, food packaging company Tetra Pak announced its commitment to reach net zero GHG (greenhouse gas) emissions by 2050 with the installation of solar panels across its operations and buying of renewable certificates. The solar tracker market may record commendable growth by 2026.

Governments along with private & commercial institutions across the region are increasingly pouring investments towards the development of new solar power units. Citing an instance, earlier in June 2019, the U.A.E. revealed plans to invest nearly USD 163 billion on power generation projects to fulfill the nation's electricity demand, which includes renewable sources like nuclear, solar, waste-to-energy and geothermal. Investments that will boost the deployment of solar trackers across the Middle East.

The Asia Pacific solar tracker market is slated to grow significantly owing to the rising demand for increasing the energy efficiency of the solar systems in the region. Australia, a country which experiences an abundance of sunlight year-round, is expected to emerge as one of the leading industry growth providers in coming years.

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The competitive landscape of global solar tracker market comprises companies such as NEXTracker, Inc., Meca Solar, First Solar, SOLTEC, SunPower Corporation, Titan Tracker, GameChange Solar among others.

Table of Contents (ToC) of the report:

Chapter 1    Methodology & Scope

1.1    Methodology

1.2    Market definitions

1.3    Market estimation & forecast parameters

1.3.1    COVID- 19 impact on market outlook

1.4    Data Sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid Sources

1.4.2.2    Public Sources

Chapter 2    Executive Summary

2.1    Solar tracker market 3600 synopsis, 2015 – 2026

2.1.1    Business trends

2.1.2    Product trends

2.1.3    Application trends

2.1.4    Regional trends

Chapter 3    Solar Tracker Market Insights

3.1    Industry segmentation

3.2    Industry ecosystem analysis

3.2.1    Vendor matrix

3.3    Innovation & sustainability landscape

3.3.1    Array Technologies

3.3.2    NEXTracker

3.3.3    Arctech Solar

3.3.4    Solar FlexRack

3.3.5    Scorpius Trackers

3.3.6    SunLink Corporation

3.3.7    PV Hardware

3.3.8    Nclave

3.3.9    ArcelorMittal Projects Exosun

3.3.10    Vikram Solar Limited

3.4    Regulatory landscape

3.4.1    North America

3.4.1.1    U.S.

3.4.1.1.1    U.S. Feed-in Tariff Programs

3.4.1.1.2    Solar Energy Industries Association (SEIA)

3.4.1.1.2.1   UL 3703

3.4.1.1.3    Florida

3.4.1.2    Mexico

3.4.2    Europe

3.4.2.1    Regulation

3.4.2.2    UK

3.4.2.2.1    2009/28/EC Renewable Energy Directive

3.4.2.2.2    The UK’s National Energy Efficiency Action Plan

3.4.2.2.3    Feed-In Tariff (FIT)

3.4.2.2.4    Export Feed-In Tariff (FIT)

3.4.2.3    Spain

3.4.3    Asia Pacific

3.4.3.1    China

3.4.3.2    India

3.4.3.2.1    National Tariff Policy (Dated 28th January 2016)

3.4.3.2.2    International Solar Alliances

3.4.3.2.3    Central Financial Assistance (CFA) schemes

3.4.3.3    Australia

3.4.3.3.1    Feed-in tariff

3.4.4    Africa

3.4.4.1    South Africa

3.4.4.1.1    Renewable Energy Independent Power Producer Programme (REIPPP)

3.4.4.1.2    Integrated Resource Plan for Electricity (IRP)

3.4.5    Latin America

3.4.5.1    Chile

3.5    Price trend analysis

3.6    Cost structure analysis

3.6.1    Price learning curve for PV technologies

3.6.2    Capital cost breakdown analysis for solar PV plant, 2018

3.7    Industry impact forces

3.7.1    Growth drivers

3.7.1.1    Growing focus on utility scale projects

3.7.1.2    Stringent clean energy targets

3.7.1.3    Increasing off grid electricity demand

3.7.2    Industry pitfalls & challenges

3.7.2.1    High initial cost

3.8    COVID- 19 impact on the overall industry outlook, 2020-2026

3.8.1    Optimistic View

3.8.2    Realistic View

3.8.3    Pessimistic View

3.9    Growth potential analysis

3.10    Porter’s analysis

3.11    Competitive landscape, 2019

3.11.1    Strategy dashboard

3.11.1.1    NEXTracker

3.11.1.1.1    Product Launch

3.11.1.1.2    Partnership agreement

3.11.1.2    Soltech

3.11.1.2.1    Awards

3.11.1.2.2    Product Launch

3.11.1.3    Trina Solar

3.11.1.3.1    Acquisition

3.11.1.4    Array Technologies

3.11.1.4.1    Awards

3.11.1.4.2    Product launch

3.11.1.5    PV Hardware

3.11.1.5.1    Business Expansion

3.11.1.6    GameChange Solar

3.11.1.6.1    Supply Contract

3.11.1.7    Convert Italia

3.11.1.7.1    Product Innovation

3.11.1.8    RP Construction Services, Inc.

3.11.1.8.1    Partnership

3.11.1.9    Arctech Solar

3.11.1.9.1    Business Expansion

3.11.1.9.2    Product launch

3.11.1.10   STI Norland

3.11.1.10.1   Product launch

3.11.1.11   Scorpius Trackers

3.11.1.11.1   Product launch

3.11.2    Company market share

3.12    PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/solar-tracker-market-report

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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