Solar Trackers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2010 - 2020
Albany, New York (PRWEB) October 06, 2013
According to a new market report published by Transparency Market Research "Solar Trackers (Single Axis and Dual Axis) Market for Solar PV, CPV, CSP Technology in Utility and Non Utility Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2010 - 2020," global solar tracker annual installed capacity was 1,188.5 MW in 2010 and estimated to reach 6,998.8 MW in 2020.
Browse the full report with complete TOC at http://www.transparencymarketresearch.com/solar-trackers-market.html.
Increasing use of photovoltaics method due to rise in electricity prices is enhancing the demand for solar tracker to increase the efficiency of installed solar systems. It helps in reducing the overall operational cost of installed solar system and is very beneficial in the long run. Supportive regulatory system has resulted in the launch of a wide range of policies and feed in tariff (FIT) schemes providing huge incentives for using solar energy, thereby boosting the demand for solar trackers. High manufacturing, installation, and maintenance cost is expected to be a key challenge for market participants.
Solar PV was the major technology used for the installation of solar trackers in 2010 and capturing over 53% of the market. But by 2020 the demand for other technologies such as concentrated photovoltaic (CPV) and concentrated solar power (CSP) is expected to rise. In 2020, CPV is estimated to capture over 19% of the market with an annual installation capacity of 1,357.4 MW. Furthermore, the market is categorized as per products and applications. Single axis and dual axis are the two types of trackers with single axis trackers dominating the market and accounted for over 94% of the market in 2010. Utility applications are expected to dominate tracker installations by 2020.
Europe dominated the global solar tracker market in terms of annual installations, accounting for 62.47% of the overall market in 2010. Spain, Italy, Germany and Greece, the key regional markets in Europe are expected to witness a surge in solar tracker demand owing to a favorable regulatory scenario, huge subsidies and high potential. North America annual solar tracker market installations are estimated to reach 2,168.5 MW in 2020 while Latin America solar tracker market is expected to be 1,744.4 in 2020.
Some of the key market participants that deal in solar trackers include Abengoa Solar, AllEarth Renewables, Array Technologies, DEGERenergie, Ecosun Ltd, Energia Ercam, Mecasolar, Titan Tracker, Mechatron, SmartTrak, and Soitec. The report provides an overview of these companies followed by their financial revenue, business strategies, and recent developments.
Solar trackers are the devices used to orient photovoltaic panels toward the sun to harness more sunlight. They enable solar modules to remain in the best position to accumulate maximum energy from the sun. These trackers are installed in residential, commercial and utility scale solar projects. Solar tracker comprises of numerous components and parts including sun tracking algorithm, control unit, positioning system, drive mechanism system, sensing devices, wind guard, tubes, and rods. This research study analyzes the market size of solar trackers, both in terms of volume (annual installation capacity) and revenue.
Distributed Energy Generation (DEG) Systems Market: http://www.transparencymarketresearch.com/distributed-energy-generation-market.html
The solar tracker market has been segmented on the basis of technology, product, application, and geography, in order to provide a holistic picture of the market. Market data for all segments has been provided on a regional level for the period 2010 to 2020. A comprehensive competitive landscape of key companies has also been provided in this report. Key technologies analyzed in the report include solar photovoltaic, concentrated photovoltaic (CPV) and concentrated solar power (CSP).
Solar tracker product segments estimated in this study include single axis and dual axis solar trackers. Major applications analyzed in this report include utility and non-utility. Regional data has been provided for North America (U.S. and Canada), Europe (Spain, Italy, Germany and Greece), Asia Pacific (China, India and Japan), and Latin America (Brazil and Chile).