Single Axis is Expected to Dominate the Global Solar Tracker for Power Generation Market
The market is expanding due to the rising
investments in green energy initiatives. As a result, the global market for
solar trackers for power generation is expanding due to the increase in demand
for green energy.
According
to TechSci Research report, “Global Solar Tracker for Power Generation Market
- Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global Solar Tracker for Power Generation is
anticipated to project robust growth in the forecast period with a CAGR of 6.2% through 2028. Solar trackers use a
variety of electrical parts, such as actuators, motors, and sensors to position
the solar cell for focusing the sun's radiation to maximize the amount of
energy captured. Electricity is produced further from the solar energy that has
been gathered which is used in various end user industry such as residential,
commercial, utility and others.
Additionally,
the increased emphasis on sustainable energy is fueling the expansion of the
global market for solar trackers. A significant increase in the number of solar
panel installations worldwide is one of the key factors that propels growth of
the solar tracker market. Furthermore, the market for solar trackers is
expanding as a result of adoption of helpful government laws that support
numerous solar energy projects. Companies are focusing on producing advanced
technology-based products as a result of rise in industrial demand for advanced
equipment for tracking purposes. For instance, Soltec introduced SFOne solar
tracker for high-power modules in June 2021. It is made to work with modules
that have 78 and 72 cells, and it is self-powered by a module, which lowers
operating costs. However, it is also anticipated that adoption trends for solar
tracking systems for power generation will be constrained by their complex
design requirements, high maintenance costs, and minimal power. Initial huge
investment required to install such devices are the primary constraints for the
market growth. Lack of sufficient infrastructure discourages investments, which
has a negative effect on major trends & opportunities in the solar tracker
market. These factors are responsible for the decline in the solar tracker
market growth
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Solar
tracker installation is expensive and time-consuming. The cost of labor and
physical space are added to installing solar trackers. The primary restraint on
the global market for solar trackers is the initial, substantial financial
outlay required to install these devices. Therefore, the high capital cost
required is preventing the implementation of solar Solar Tracker for Power
Generation and thus hampering the overall market’s growth. Furthermore, the
rising demand for renewable energy sources further extends profitable
opportunities to the worldwide solar Solar Tracker for Power Generation market
in the forecast period of 2022 to 2029. Currently, over 29% of the electricity
produced worldwide comes from renewable sources. It is anticipated to increase
significantly during the ensuing years, increasing the industry. For instance,
the installed capacity of solar energy increased from 217.34 GW in 2015 to
578.55 GW in just four years. The increasing product development and
innovations are largely offering growth prospects to the manufacturers within
the market. For instance, In September 2021, STI Control unveiled their
brand-new system. With the help of this technology, you can fully regulate your
solar power generation. Included are three parts: an intelligent weather
controller, a system network controller, and a tracker smart controller. The
market’s growth has been hampered in areas such as Europe and Asia-Pacific due
to a lack of awareness and knowledge of the advantages of fixed tilt systems
over solar tracker installations. Additionally, a shortage of resources is
impeding market expansion. As a result, a significant obstacle to the growth of
the worldwide solar tracker market is a lack of a proper infrastructure. This
is further creating serious growth challenges for the solar Solar Tracker for
Power Generation market.
Key
market players in the Global Solar
Tracker for Power Generation Market are following:-
- SunTegra Solar
- Ergosun
- CertainTeed
- Canadian Solar
- Ertex Solar
- FlexSol Solutions B.V
- Tesla
- Anu Solar Power Pvt Ltd
- PV Technical Services Inc.
- Sunflare
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“.A
solar photovoltaic (PV) tracker is a device that orients solar panels or
heliostats toward the Sun. A solar PV tracker is used in solar panels,
heliostats, and parabolic troughs to align them in such a position toward the
sun so as to collect solar energy in the most optimal angle, thereby increasing
the efficiency of PV systems. Fixed-mounted solar panels may lose their
efficiency when the Sun passes to the less than optimal angle. A solar tracker
system tracks the position of the Sun and moves solar panels such that they
align accurately with the position of the Sun” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting firm.
Solar Tracker
for Power Generation Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast Segmented By Technology (Concentrated PV Tracker and
Non-Concentrated PV Tracker), By Type (Active Solar Tracker & Passive Solar
Tracker), By Products (Single Axis, Horizontal, Vertical, Polar Aligned,
Titled, Double Axis, Tip-Tilt and Azimuth-Altitude), By Region, Competition
2018-2028. has
evaluated the future growth potential of Global Solar Tracker for Power Generation Market and
provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Solar Tracker for Power Generation Market.
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