Solar Tracker Market Share, Size, Growth, Opportunity and Forecast 2020-2025

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Solar Tracker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Market Overview:

The global solar tracker market experienced robust growth during 2014-2019. A solar tracker refers to the device used for orienting a solar panel or solar reflector toward the sun to harness additional sunlight. The trackers are attached to the solar panels to alter their position in sync with the sun irrespective of the weather conditions. This ensures that the solar modules are correctly positioned to gather maximum solar energy and to improve the overall efficiency of the solar panels. Based on the design and tracking mechanism, some of the commonly used variants include active, passive, single-axis and dual-axis trackers. They offer various advantages, such as the generation of additional energy, availability in binary formats and minimal space requirements.

A significant increase in the number of solar panel installations across the globe is one of the key factors driving the growth of the market. Furthermore, the implementation of favorable government policies promoting various solar energy projects driving the market growth. Due to the increasing preference for renewable energy sources among the masses and the growing emphasis on utility-scale projects, solar trackers are being deployed across the residential, commercial and industrial sectors. Additionally, various product innovations, such as the development of more efficient and cost-effective solar photovoltaics and concentrated photovoltaics, are acting as other major growth-inducing factors. These systems are innovatively designed to facilitate low-cost power generation. Other factors, including increasing off-grid energy demand, along with the integration of cloud computing and the Internet of Things (IoT)-based solutions, are expected to drive the market further. Looking forward, IMARC Group expects the global solar tracker market to continue its strong growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global solar tracker market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, type, tracking type, technology and application.

Breakup by Type:

Active Solar Tracker
Passive Solar Tracker

Breakup by Tracking Type:

Single Axis Tracking
- HSAT (Horizontal Single Axis Trackers)
- VSAT (Vertical Single Axis Trackers)
- TSAT (Titled Single Axis Trackers)
- PSAT (Polar Aligned Single Axis Trackers)
Dual Axis Tracking
- TTDAT (Tip-Tilt Dual Axis Trackers)
- AADAT (Azimuth-Altitude Dual Axis Trackers)

Breakup by Technology:

Solar Photovoltaic (PV)
Concentrated Solar Power (CSP)
Concentrated Photovoltaic (CPV)

Breakup by Application:

Utility Sector
Residential Sector
Commercial Sector

Breakup by Region:

North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Arctech Solar Holding Co. Ltd., Array Technologies Inc., Convert Italia SpA (Valmont Industries Inc.), DEGER energie GmbH & Co KG, First Solar Inc., Nextracker Inc. (Flex Ltd.), Powerway Renewable Energy Co. (SinoTech Power Group), Soltec Energias Renovables S.L. and Sunpower Corporation (Total S.A.).

Key Questions Answered in This Report:

How has the global solar tracker market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global solar tracker market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the tracking type?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global solar tracker market and who are the key players?
What is the degree of competition in the industry?