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Solar Tracker Installation Market by Type and End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2019-2026

  • ID: 5021808
  • Report
  • January 2020
  • Region: Global
  • 233 pages
  • Allied Analytics LLP
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FEATURED COMPANIES

  • Abengoa SE
  • Arctech Solar
  • BrightSource Energy Inc.
  • First Solar Inc.
  • NEXTracker.
  • PVHardware
  • MORE
The global solar tracker installation was valued at $162.7 billion in 2018, and is projected to reach $379.2 billion by 2025, growing at a CAGR of 11.1% from 2019 to 2026. Solar tracking is the process of generating power from sunlight. A solar tracker is the device that directs solar panels, mirrors of heliostat, and Fresnel reflectors toward the sun. These solar trackers are used to capture the maximum solar energy throughout the day and an increase solar panel output and efficiency. The global solar market is driven by increase in energy demand worldwide. Solar trackers can increase the output of solar panels by 25% to 35% compared to modules at fixed angle.

The factors such as environmental pollution, rise in prices of fuels, and growth in awareness among people regarding clean energy are expected to drive the growth of the global solar tracker installation. However, solar tracker installation high maintenance requirement, high cost compared to stationary counterparts, and complex system than fixed racking are expected to restrain the global solar tracker installation growth. The global solar tracker installation is yet to explore its full potential. Therefore, rise in government initiatives, decrease in complexity in design, and ongoing researches in solar tracker are anticipated to offer growth opportunities for the growth of the solar tracker installation market.

Key segmentation of the solar tracker installation market is done based on type, application, and region. By type the global solar tracker is divided into single axis tracker and double axis tracker. On the basis of application, it is classified into residential, commercial, and industrial. Region wise, the global solar tracker installation is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players in the global solar tracker installation market are Abengoa SE, First Solar, Inc., Tata Power Solar Systems Limited, Trina Solar Co. Ltd., BrightSource Energy, Inc., Siemens AG, PVHardware, Arctech Solar, and NEXTracker.

KEY BENEFITS FOR STAKEHOLDERS
  • Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • It outlines the current trends and future scenario of the solar tracker installation market from 2018 to 2026 to understand the prevailing opportunities and potential investment pockets.
  • Major countries in four major regions, namely, North America, Europe, Asia-Pacific, and LAMEA have been mapped according to their individual revenue contribution to the regional market.
  • The key drivers, restraints, and solar tracker installation market opportunities and their detailed impact analysis are elucidated in the study.
  • The profiles of key players along with their key strategic developments are enlisted in the report.
KEY MARKET SEGMENTS

By Type
  • Single axis
  • Horizontal
  • Vertical
  • Dual axis
By End-use Industry
  • Residential
  • Commercial
  • Industrial
By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • Spain
  • Italy
  • UK
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA
KEY PLAYERS
  • Abengoa SE
  • First Solar, Inc.
  • Tata Power Solar Systems Limited
  • Trina Solar Co. Ltd.
  • BrightSource Energy, Inc.
  • Siemens AG
  • PVHardware
  • Arctech Solar
  • NEXTracker
  • Scorpius Trackers
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Abengoa SE
  • Arctech Solar
  • BrightSource Energy Inc.
  • First Solar Inc.
  • NEXTracker.
  • PVHardware
  • MORE
Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits For Stakeholders:
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools And Models

Chapter 2: Executive Summary
2.1. Key Findings
2.1.1. Top Investment Pockets
2.2. Cxo Perspective

Chapter 3: Market Overview
3.1. Market Definition And Scope
3.2. Key Forces Shaping Solar Tracker Installation Market
3.3. Market Evolution/Industry Roadmap
3.4. Impact of Government Regulations On The Global Solar Tracker Installation Market
3.5. Patent Analysis
3.5.1. By Region (2012-2017)
3.6. Case Studies
3.6.1. Case Study 01
3.7. Market Dynamics
3.7.1. Drivers
3.7.1.1. Growth In Demand For Renewable Energy
3.7.1.2. Boost In The Demand For Solar Energy From Emerging Economies
3.7.2. Restraint
3.7.2.1. Huge Investments
3.7.3. Opportunity
3.7.3.1. Rise In Government Initiatives And Programs

Chapter 4: Solar Tracker Installation Market, By Type
4.1. Overview
4.2. Single Axis
4.2.1. Key Market Trends, Growth Factors And Opportunities
4.2.2. Horizontal
4.2.3. Vertical
4.2.4. Market Size And Forecast, By Region
4.2.5. Market Analysis By Country
4.3. Dual Axis
4.3.1. Key Market Trends, Growth Factors And Opportunities
4.3.2. Market Size And Forecast, By Region
4.3.3. Market Analysis By Country

Chapter 5: Solar Tracker Installation Market, By Application
5.1. Overview
5.2. Residential
5.2.1. Key Market Trends, Growth Factors And Opportunities
5.2.2. Market Size And Forecast, By Region
5.2.3. Market Analysis By Country
5.3. Commercial
5.3.1. Key Market Trends, Growth Factors And Opportunities
5.3.2. Market Size And Forecast, By Region
5.3.3. Market Analysis By Country
5.4. Industrial
5.4.1. Key Market Trends, Growth Factors And Opportunities
5.4.2. Market Size And Forecast, By Region
5.4.3. Market Analysis By Country

Chapter 6: Solar Tracker Installation Market, By Region
6.1. Overview
6.2. North America
6.2.1. Key Market Trends, Growth Factors And Opportunities
6.2.2. Market Size And Forecast, By Type
6.2.3. Market Size And Forecast, By Application
6.2.4. Market Analysis By Country
6.2.4.1. Us
6.2.4.1.1. Market Size And Forecast, By Type
6.2.4.1.2. Market Size And Forecast, By Application
6.2.4.2. Canada
6.2.4.2.1. Market Size And Forecast, By Type
6.2.4.2.2. Market Size And Forecast, By Application
6.2.4.3. Mexico
6.2.4.3.1. Market Size And Forecast, By Type
6.2.4.3.2. Market Size And Forecast, By Application
6.3. Europe
6.3.1. Key Market Trends, Growth Factors And Opportunities
6.3.2. Market Size And Forecast, By Type
6.3.3. Market Size And Forecast, By Application
6.3.4. Market Analysis By Country
6.3.4.1. Germany
6.3.4.1.1. Market Size And Forecast, By Type
6.3.4.1.2. Market Size And Forecast, By Application
6.3.4.2. UK
6.3.4.2.1. Market Size And Forecast, By Type
6.3.4.2.2. Market Size And Forecast, By Application
6.3.4.3. France
6.3.4.3.1. Market Size And Forecast, By Type
6.3.4.3.2. Market Size And Forecast, By Application
6.3.4.4. Spain
6.3.4.4.1. Market Size And Forecast, By Type
6.3.4.4.2. Market Size And Forecast, By Application
6.3.4.5. Italy
6.3.4.5.1. Market Size And Forecast, By Type
6.3.4.5.2. Market Size And Forecast, By Application
6.3.4.6. Rest of Europe
6.3.4.6.1. Market Size And Forecast, By Type
6.3.4.6.2. Market Size And Forecast, By Application
6.4. Asia-Pacific
6.4.1. Key Market Trends, Growth Factors And Opportunities
6.4.2. Market Size And Forecast, By Type
6.4.3. Market Size And Forecast, By Application
6.4.4. Market Analysis By Country
6.4.4.1. China
6.4.4.1.1. Market Size And Forecast, By Type
6.4.4.1.2. Market Size And Forecast, By Application
6.4.4.2. Japan
6.4.4.2.1. Market Size And Forecast, By Type
6.4.4.2.2. Market Size And Forecast, By Application
6.4.4.3. India
6.4.4.3.1. Market Size And Forecast, By Type
6.4.4.3.2. Market Size And Forecast, By Application
6.4.4.4. South Korea
6.4.4.4.1. Market Size And Forecast, By Type
6.4.4.4.2. Market Size And Forecast, By Application
6.4.4.5. Australia
6.4.4.5.1. Market Size And Forecast, By Type
6.4.4.5.2. Market Size And Forecast, By Application
6.4.4.6. Rest of Asia-Pacific
6.4.4.6.1. Market Size And Forecast, By Type
6.4.4.6.2. Market Size And Forecast, By Application
6.5. LAMEA
6.5.1. Key Market Trends, Growth Factors And Opportunities
6.5.2. Market Size And Forecast, By Type
6.5.3. Market Size And Forecast, By Application
6.5.4. Market Analysis By Country
6.5.4.1. Brazil
6.5.4.1.1. Market Size And Forecast, By Type
6.5.4.1.2. Market Size And Forecast, By Application
6.5.4.2. Saudi Arabia
6.5.4.2.1. Market Size And Forecast, By Type
6.5.4.2.2. Market Size And Forecast, By Application
6.5.4.3. South Africa
6.5.4.3.1. Market Size And Forecast, By Type
6.5.4.3.2. Market Size And Forecast, By Application
6.5.4.4. Rest of LAMEA
6.5.4.4.1. Market Size And Forecast, By Type
6.5.4.4.2. Market Size And Forecast, By Application

Chapter 7: Competitive Landscape
7.1. Introduction
7.1.1. Market Player Positioning, 2018
7.2. Top Winning Strategies
7.2.1. Top Winning Strategies, By Year
7.2.2. Top Winning Strategies, By Development
7.2.3. Top Winning Strategies, By Company
7.3. Competitive Heatmap
7.4. Key Developments
7.4.1. New Product Launches
7.4.2. Expansions
7.4.3. Other Developments

Chapter 8: Company Profiles:
8.1. Abengoa Se
8.1.1. Company Overview
8.1.2. Company Snapshot
8.1.3. Operating Business Segments
8.1.4. Product Portfolio
8.1.5. Business Performance
8.2. First Solar, Inc.
8.2.1. Company Overview
8.2.2. Company Snapshot
8.2.3. Operating Business Segments
8.2.4. Product Portfolio
8.2.5. Business Performance
8.3. Tata Power Solar Systems Limited.
8.3.1. Company Overview
8.3.2. Company Snapshot
8.3.3. Product Portfolio
8.3.4. Business Performance
8.4. Trina Solar Co., Ltd.
8.4.1. Company Overview
8.4.2. Company Snapshot
8.4.3. Operating Business Segments
8.4.4. Product Portfolio
8.4.5. Key Strategic Moves And Developments
8.5. Brightsource Energy, Inc.
8.5.1. Company Overview
8.5.2. Company Snapshot
8.5.3. Operating Business Segments
8.5.4. Product Portfolio
8.5.5. Key Strategic Moves And Developments
8.6. Siemens Ag
8.6.1. Company Overview
8.6.2. Company Snapshot
8.6.3. Operating Business Segments
8.6.4. Product Portfolio
8.6.5. R&D Expenditure
8.6.6. Business Performance
8.7. Pvhardware
8.7.1. Company Overview
8.7.2. Company Snapshot
8.7.3. Operating Business Segments
8.7.4. Key Strategic Moves And Developments
8.8. Arctech Solar
8.8.1. Company Overview
8.8.2. Company Snapshot
8.8.3. Product Portfolio
8.8.4. Key Strategic Moves And Developments
8.9. Scorpius Trackers
8.9.1. Company Overview
8.9.2. Company Snapshot
8.9.3. Product Portfolio
8.10. Nextracker
8.10.1. Company Overview
8.10.2. Company Snapshot
8.10.3. Operating Business Segments
8.10.4. Key Strategic Moves And Developments
8.11. Other Key Player Profiles
8.11.1. Key Player Snapshot
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Abengoa SE
  • Arctech Solar
  • BrightSource Energy Inc.
  • First Solar Inc.
  • NEXTracker.
  • PVHardware
  • MORE
According to the report, titled, 'Solar Tracker Installation Market by Type and End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global solar tracker installation market was valued at $162.7 billion in 2018 and is projected to reach $379.2 billion by 2026, growing at a CAGR of 11.1% from 2019 to 2026.

Trackers are responsible for focusing solar panels or modules toward the sun. These gadgets change their direction to pursue the sun's rays to increase energy capture. In photovoltaic frameworks, trackers help maximize the angle of incidence (the edge that a beam of light makes with a line opposite to the surface) between the approaching light and the board. Concentrated solar photovoltaics and concentrated sun-powered cells have optics that focus the sunlight, so solar trackers must be placed accurately to achieve maximum sunlight.

The key factors that drive the growth of this market include increase in installation of solar panels across the globe. This is increasing the demand for solar tracker to direct sunlight toward the panels. Hence, it is expected that with an increase in solar installation, the demand for solar tracker will increase significantly. This in turn will drive the growth of the global solar tracker installation market. In addition, other factors such as environmental pollution, rising price of fuels, and growing awareness among people regarding clean energy are also expected to fuel the demand for solar panels and in turn solar trackers during the forecast period.

The solar tracker installation market is fragmented based on type, application, and region. Based on type, the market is segmented into dual axis and single axis. The single axis tracker segment was the highest contributor to the market and is expected to grow with a CAGR of 10.8% during the forecast period. Single-axis solar trackers have both horizontal and vertical axis. The horizontal type of single-axis tracker is used increasingly in tropical regions where the sunlight is bright at noon, but the days are short. The vertical type of single-axis tracker is used increasingly in high latitudes where the sun does not get very high; however, summer days can be very long. The growing use of single-axis tracker in both tropical region and high-altitude region is expected to drive the growth of the market.

The dual axis tracker segment is estimated to grow with the highest CAGR of 12.1%. The growing use of dual-axis trackers in Concentrated Solar Power (CSP) applications is expected to drive the growth of the market. CSP application utilizes dual axis tracking for achieving maximum sunlight to drive devices using high power.

In terms of application, the market is fragmented into residential, commercial, and industrial. The industrial segment was the highest contributor to the market and is expected to continue its dominance during the forecast period. Industrial processes use hot water to clean industrial equipment and machinery. Some sectors, including beverage bottling plants, for example, require very large quantities of hot water for both production and maintenance of all the above purposes, industries are leveraging solar technology to achieve efficiency and cost saving. As industries are utilizing solar technology, solar tracker is also playing an important role. A solar tracker is employed in solar panels to orient payload towards sun.

Region wise, the market is examined across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor. Asia-Pacific and North America collectively accounted for around 83.9% share in 2018, with the former constituting around 68.6% share.

The key players involved in the market include Abengoa SE, First Solar, Inc., Tata Power Solar Systems Limited, Trina Solar Co. Ltd., BrightSource Energy, Inc., Siemens AG, PVHardware, Arctech Solar, and NEXTracker. To compete against each other, these market players are implementing certain strategies. These strategies include product launch, partnership, acquisition, and research & development. In an instance, Arctech Solar has recently launched its SkySmart-2 tracking system. It is a single axis 2P (two modules in portrait) tracking system, which offers maximum energy efficiency.

Key Findings of the Study
In 2018, the Asia-Pacific market held a share of over 68.6% in the solar tracker installation market size.
The industrial segment is expected to hold a dominant position in the solar tracker installation market share during the forecast period.
The dual axis segment is projected to grow at a CAGR of 12.1% by 2026.
The single axis tracker dominated the solar tracker installation market in 2018 and is expected to grow with the CAGR of 10.8% during the forecast period.
The qualitative data in the report aims on the solar tracker installation market trends, dynamics, and developments in the solar tracker installation industry while the quantitative data provides information regarding the market share and market size in terms of revenue and volume.
Note: Product cover images may vary from those shown
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  • Abengoa SE
  • First Solar Inc.
  • Tata Power Solar Systems Limited
  • Trina Solar Co. Ltd.
  • BrightSource Energy Inc.
  • Siemens AG
  • PVHardware
  • Arctech Solar
  • NEXTracker.
Note: Product cover images may vary from those shown
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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