Global solar trackers Market is expected to double its market size (CAGR of 18.53% ) by 2025 -Planet Market Reports<span class="rating-result after_title mr-filter rating-result-1873">			<span class="no-rating-results-text">No ratings yet.</span>		</span>
Global solar trackers Market is expected to double its market size (CAGR of 18.53% ) by 2025 -Planet Market Reports


Planet Market Reports has added a report, titled, “Global solar trackers Market 2017 Forecast to 2025.”

Solar Tracker Market

Industry Trend Analysis

In 2014, the global solar trackers market was evaluated around USD 5.24 billion and is expected to reach approximately USD 24.19 billion by 2023 while registering itself at a compound annual growth rate CAGR of 18.53% over the forecast period. Solar trackers are equipment that assists in escalating the installed payloads efficiency like panels, fresnels, mirrors and parabolic mangers. Solar trackers have the capability to augment the competence of these payloads by over 30%. The market demand is propelled by growing awareness regarding renewable energy and undesirable effects ensuing owing to weather change. The encouraging regulations in emerging countries, as well as actions taken by governments across the globe to trim down dependency on energy generation that ensues in emission, is anticipated to fuel the solar tracker’s demand. Growing government emphasis on alternative energy sources has ensued as the progress of solar PV cells since a sustainable and continuous energy production source. The speedy rise in a number of PV installations in Spain has condensed the levelized price of electricity, ensuing in solar PV being competitory with other traditional energy forms.

Buy now and get a Beneficial 30% off on this report @

Technology Outlook and Trend Analysis

In 2015, the photovoltaic technology PV was the major segment reporting for around 75% of the overall capacity. The ease of application linked with regular module PV cell technologies due to simple design is expected to drive the demand. Growing electricity cost due to the supply-demand gap is anticipated to boost usage in utility and non-utility applications. Other technologies are concentrated solar power CSP and concentrated photovoltaic CPV . CSP technology is projected to experience a gradual turn down in market share during the forecast years owing to decrease in many installations because of elevated costs involved. Though, since 2004, installed CSP capacity worldwide has amplified tenfold and has been rising at a standard of 30% during the last few years.

Product Outlook and Trend Analysis

In 2015, single axis trackers were the key product section reporting for around 60% of the overall market. The rising usage of single trackers for residential and commercial applications is expected to fuel the market growth. This section is expected to progressively lose share in the coming years since key companies have initiated installing dual axis trackers due to their efficiency and accuracy. The elevated land requirement, advanced technology, and the need to preserve motors and control systems are expected to raise OandM spending.

Application Outlook and Trend Analysis

In 2015, utility section was the major reporting for almost 85% of the global market share. Increasing cost of electricity along with elevated demand for energy production from alternative sources is anticipated to impact the market growth positively. Trackers have restricted application in the non-utility application owing to the space constraints and high installation cost. Residential applicants favor installing an additional PV panel rather than a tracker as it is cost proficient and aids in generating higher energy.

Get More Information about this Report @

Regional Outlook and Trend Analysis

European region held the leading share of around 36% in the global industry. The global industry in this area is propelled by countries like Germany and Spain owing to the existence of a large number of market players. The growth of the European regional market can be assigned to tactical geographic location ensuing in highest quantity of sunlight in the entire Europe, over the year. Asia Pacific region is expected to be the highest-growing region during the forecast years. This region is anticipated to grow with the courtesy of growing investment in alternative energy by countries like India Chin, and Japan. The emerging countries of this region have been promoting their energy base to fulfill growing demand for power as well as taking actions to limit prospective energy utilization. South and Central America is anticipated to experience considerable growth during the next few years owing to elevated potential in this region, especially in Chile, Brazil, Colombia, and Argentina. A prominent number of PV installations in this region are anticipated to fuel the demand during the forecast years.

Competitive Outlook and Trend Analysis

The global market is fairly fused as major five competitors are accountable for around 40% of the global market share. Key companies have initiated the expansion in Asia Pacific region to furnish to the rising demand for alternative energy in this region. The major market participants are AllEarth Renewables, Array Technologies, Energia Ercam, Grupo Clavijo, DEGERenergie, First Solar, Hao, Mecasolar, Soitec, SmartTrak, Mechatron, Powerway Renewable Energy Co. Ltd, Sun Power Corporation and Titan Tracker.

The global solar trackers market is segmented as follows –

By Technology

Solar Photovoltaic PV
Concentrated Solar Power CSP
Concentrated Photovoltaic CPV

By Product

Single axis
Dual axis

By Application


By Region

North America



Rest of Europe


South Korea
Rest of Asia Pacific

Rest of the World

South Africa
Saudi Arabia
United Arab Emirates

Some of the key questions answered by the report are:

· What was the market size in 2014 and forecast from 2015 to 2023?

· What will be the industry market growth from 2015 to 2023?

· What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?

· What are the major segments leading the market growth and why?

· Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?

To Browse Similar Reports@

About Us:

Planet Market Reports gives statistical surveying reports to businesses, people and associations with a goal of helping them in their decision making process. We have huge database of market research reports & company profiles across globe.  We associated with global market research a publisher who has a wide range of research specialists & industry experts which provides you deeper penetration of market research industry.

We have statistical surveying reports from number of top publishers and update our reports collections on daily basis with most recent research data to furnish our customers with the moment online access to our database. With access to this database, our customers will be able to benefit from expert insights on worldwide businesses, items, and market patterns. We help you in your buy choice by mapping your data needs with our immense accumulation of reports.

Contact US:- 

Name: Jennifer Daniel 


US: +1-716-2260907

UK: +447441952057

Organization: Planet Market Reports

Follow us on Social Media

Facebook: –

LinkedIn: –

Twitter: –






Please rate this

Leave a Reply

Close Menu