Solar Tracker Market In-depth Analysis and forecasts by 2027

One of the most promising verticals within the sustainable and smart technologies space, the global solar tracker market is gaining momentum and will register appreciable gains over the forecast period 2021-2027. Solar tracker technology is used to direct solar panels towards the sun. These trackers change their orientation to follow the sun's trajectory throughout the day to maximize energy capture.

The installation of solar trackers can boost solar energy generation by around one third, and in some regions by as much as 40% or more, compared to solar panels at a fixed angle. Manufacturers worldwide are constantly working on improving the efficiency of solar trackers to further maximize solar generation output.

Solar trackers can be classified into single axis and dual axis trackers. It is estimated that dual axis solar trackers will experience substantial demand in the next few years as they provide greater flexibility. These devices can move in two different directions and can hence face the sun continuously. They are generally used to redirect sun rays along a fixed axis towards a stationary receiver. Dual axis solar trackers can help obtain maximum solar power generation as they follow the sun vertically as well as horizontally.

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The different types of solar tracker technologies include photovoltaic (PV) systems and concentrated solar power (CSP) systems. CSP technology has become increasingly popular in recent years and will witness growing deployment in the future. The deployment of these systems typically depends on the solar intensity and the availability of area.

Considering the application landscape, the market can be bifurcated into residential, commercial, and utility segments. Reports estimate that the deployment of solar tracker systems across the utility sector will gather pace over the next few years. These trends can be associated with declining costs of PV technology as well as supportive government initiatives for widespread deployment of solar infrastructure across the utility sector.

Geographically, Europe solar tracker industry will witness notable growth in the near future driven by strict regulatory efforts to promote widespread adoption of smart and sustainable technologies. Solar tracker market trends in the Middle East and Africa region will be influenced by ongoing government bodies as well as private institutions towards upgradation of the solar power infrastructure. The region is also increasingly focusing on the adoption of decentralized power generation to further boost sustainability in the energy sector.

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Further elaborating on the regional outlook, the Latin America solar tracker industry is expected record substantial gains by 2027. The regional technology adoption can be attributed to increasing government investments and efforts to promote solar technology adoption in the region.

Table Of Content

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    Paid sources    Public sources

Chapter 2    Executive Summary

2.1    Solar tracker industry 3600 synopsis, 2017 – 2027

2.1.1    Business trends

2.1.2    Product trends

2.1.3    Technology trends

2.1.4    Application trends

2.1.5    Regional trends

Chapter 3    Solar Tracker Industry Insights

3.1    Industry segmentation

3.2    Industry ecosystem analysis

3.2.1    Vendor matrix

3.3    Innovation & sustainability landscape

3.3.1    Trina Solar

3.3.2    SOLTEC

3.3.3    Convert Italia

3.3.4    NEXTracker

3.3.5    PV Hardware

3.3.6    Nclave

3.3.7    ArcelorMittal Projects Exosun

3.3.8    Arctech Solar

3.3.9    Solar FlexRack

3.3.10      Array Technologies

3.3.11      Scorpius Trackers

3.3.12      MecVeL SRL

3.3.13      Bodine Electric Company

3.3.14      FRABA B.V.

3.4    Regulatory landscape

3.4.1    North America    U.S.    U.S. Feed-in Tariff Programs    Solar Energy Industries Association (SEIA)      UL 3703    Florida    Mexico

3.4.2    Europe    Regulation    UK    2009/28/EC Renewable Energy Directive    The UK’s National Energy Efficiency Action Plan    Feed-In Tariff (FIT)    Export Feed-In Tariff (FIT)    Spain

3.4.3    Asia Pacific    China    India    National Tariff Policy (Dated 28th January 2016)    International Solar Alliances    Central Financial Assistance (CFA) schemes    Australia    Feed-in tariff

3.4.4    Africa    South Africa    Renewable Energy Independent Power Producer Programme (REIPPP)    Integrated Resource Plan for Electricity (IRP)

3.4.5    Latin America    Chile

3.5    Cost structure analysis, by component,2020

3.6    Key industry trend impacting the market and product dynamics

3.7    Industry impact forces

3.7.1    Growth drivers    Growing focus on utility scale projects    Stringent clean energy targets    Increasing off grid electricity demand

3.7.2    Industry pitfalls & challenges    High initial cost

3.8    COVID-19 impact on the industry outlook

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

3.10.1      Threat of new entrants

3.10.2      Supplier power

3.10.3      Buyer power

3.10.4      Threat of new substitutes

3.11      Competitive landscape, 2020

3.11.1      Strategy dashboard    Component suppliers    Cone Drive    Acquisition    Kinematics Manufacturing    Strategic collaboration    Product launch    New establishment    EKO Instruments B.V.    Kipp & Zonen B.V.    Product launch    Siemens AG    Joint Ventures    Schaeffler AG    Hiwin Corporation    New product    Maxon    Strategic Collaboration    AMETEK, Inc.    Acquisition     Fraba B.V.   Product launch    Solar Tracker manufacturer    Array Technologies    Partnership agreement    Awards    Product launch    NEXTracker    Partnership agreement    Product Launch    Trina Solar    Acquisition    Ideematec AG    Collaboration    First Solar    Agreement    PV Hardware    Collaborations    Arctech Solar    Website launch    Business Expansion    Product launch    Soltec    Awards    Product Launch    Business Expansion    GameChange Solar    Supply Contract     Convert Italia   Product Innovation     RP Construction Services, Inc.   Partnership     STI Norland   Product launch     Scorpius Trackers   Product launch

3.12      PESTLE Analysis

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