Solar PV Tracker Market size: 2021 Overview, Dynamics, Key Players, Opportunities and Forecast to 2025
Market Scope
Solar PV trackers direct solar panels or modules towards the direction of the sun. These devices change their orientation to follow the sun and capture the maximum energy possible. Solar photovoltaic (PV) systems can boost electricity production and drive the performance of utilities considerably. The global solar PV tracker market report by Market Research Future (MRFR) covers favorable drivers and opportunities coupled with challenges for the period of 2017 to 2023 (forecast period). The COVID-19 pandemic and its effects on the industry are noted in the report.
The global solar PV tracker market is projected to grow at ~ 18% CAGR during the forecast period.
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Segmentation
The global solar PV tracker market has been segmented based on power generation type, tracking system type, tracking control systems type, and end-use industries.
Based on power generation type, it is classified into solar PV, CSP, and solar thermal. CSP is further segmented into linear Fresnel, parabolic through, power towers, and dish/engine type. Concentrated solar thermal systems that use solar energy for water heating and steam generation purposes use solar trackers for their operations.
Based on tracking systems type, the market is segmented into fixed tilt, single axis, and dual axis tracking systems. Since the tracking systems are comparatively expensive and are an add-on to the existing systems, single axis tracking system by type is used for small-scale solar power generation technologies. However, since the utility level solar power installation systems need to be operated at full capacity and maximized operational efficiency, dual axis tracking systems are used. For easier operations of tracking systems, they are controlled by active and passive tracking systems. Active tracking systems ensure that the solar panels are perpendicular to sunlight and use sensors that determine the ideal position of the panel. Passive control systems normally operate by using compressed gas that generates a difference in pressure inside the system, based on sunlight. The passive systems are usually preferred for power systems of low capacity as they do not need a controller; however, they are slow to respond and are quite physically vulnerable to external factors, such as gusty winds and storms.
By drive system type, it is divided into active and passive.
By end-use industries, it is segmented into residential, commercial, and utilities.
Regional Analysis
The flourishing energy industry in the Asia Pacific is expected to generate numerous growth opportunities for the solar PV tracker market share. The decline in natural energy resources, such as oil and coal, and other fossil fuel is generating tremendous growth scope, as the need for alternative sources of energy increases. The increase in solar PV systems demand in the APAC region can support the expansion of the market here. In the North America region, the solar PV market is likely to experience a fast-pace expansion in the years to come. Technological advances in this region are likely to back the rise of the solar PV tracker market in North America. The high installations of solar PV systems can promote the expansion of the market in the region. In Europe, the expansion of the solar PV tracker can be attributed to the presence of robust energy supporting infrastructure in the region.
Competitive Outlook
Solar Steel, Convert Italia, Arctech Solar, Exosun, Mahindra Susten, Grupo Clavijo, NEXTracker, STi Norland, SunPower, Soltec, Ideematec, NClave, SunLink, Sun Action Trackers, Scorpius Trackers, First Solar, and PV Hardware are key players of the global solar PV tracker market.
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