Solar Tracker Market Opportunity Assessment, Market Challenges, Key vendor analysis, Vendor landscape by 2026

The global solar tracker market is set to witness tremendous growth over the upcoming years as renewable energy is increasingly replacing conventional energy sources across the world. This shifting trend, when coupled with the ongoing introduction of numerous strict environmental regulations, is likely to fuel the solar trackers market outlook.

As demand for renewable energy increases and the number of clean energy farms rises, the need to further optimize the way these farms utilize natural resources to generate energy is also increasing simultaneously. This shift towards optimization is expected to become a primary factor that would be fueling the demand for solar trackers through the forecast timespan.

Solar trackers maximizes the amount of energy produced by a solar system. They do so be moving the solar PV panels to follow the sun all throughout the day. In doing so, they ensure that the solar PV panels are always at the most optimal angle to receive direct sun light.

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These systems are usually paired with ground-mounted PV panels as well as big, free-standing installations such as solar trees. While they have not made a noticeable foray into residential solar power projects, they have become integral to the commercial and utility-scale solar power market.

The overall solar tracker market is divided into different segments on the basis of product, application, as well as regional landscape.

From a regional frame of reference, the Europe solar tracker market is projected to witness strong growth owing to the ongoing efforts toward the adoption of sustainable energy technologies all throughout Europe.

The European Union is increasingly tightening their environmental regulations and emission standards to efforts to meet the goal set by the Paris Agreement. To that end, as countries throughout Europe work towards phasing out coal or other fossil fuels, the solar tracker industry in the region is likely to witness a significantly lucrative growth trend in years to come.

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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.

In fact, in 2018 alone, Australia generated more than 1824 MW of electricity through large-scale solar power farms in the country. An additional 61 large scale solar power plants were approved to be constructed in 2019. This trend is likely to continue and bring ample growth opportunities to the solar tracker market.

Ongoing transition toward distributed energy technologies coupled with the rising investments toward the development of new electrical networks, is expected to drive the Africa solar tracker market over the forecast time period.

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