SOLAR TRACKER MARKET – LOOKING AT AN EXPONENTIAL GROWTH!
A solar tracker is a system that positions an object in such a way that it continuously faces the sun. The solar tracker mostly uses in photovoltaic solar panels so that they remain perpendicular to the Sun rays, which are the major driver of the solar tracker market. Solar tracker generates more electricity as compare to stationery panels due to direct exposure of sun rays, henceforth raising the demand for the solar tracker market. Supportive government rules and regulations result in the rising installation of solar panels, which further influences the growth of the solar tracker market.
The solar tracker keeps the panel perpendicular to the Sun; hence, more sunlight strikes the solar panel, and more energy is absorbed. Thus, increasing deployment of solar trackers that boosting the growth of the solar tracker market. Growing concerns over energy conservation and conversion from non-renewable energy to renewable energy is surge demand for a solar system that propels the growth of the solar tracker market. Solar trackers improve the power generation output of the panels, which also raises the installation of solar trackers that booming the growth of the solar tracker market.
MARKET SEGMENTATION
The global solar tracker market is segmented on the basis of movement, type, end-user. On the basis of movement, the market is segmented as a single axis, dual-axis. On the basis of type, the market is segmented as solar photovoltaic (PV), concentrated solar power (CSP), concentrated photovoltaic (CPV). On the basis of end-users the market is segmented as residential, commercial, industrial.
MARKET PLAYERS
- AllEarth Renewables, Inc.
- Arctech Solar
- Array Technologies, Inc.
- First Solar, Inc.
- NEXTracker Inc.
- PVHardware
- Scorpius Trackers
- Soltec
- Sun Action Trackers
- SunPower Corporation