Solar PV Tracker Market- Covid 19 Impact Analysis with Competitive Landscape,Future Prospects, Business Strategies and Forecast 2023

Market Research Future published a research report on “Solar PV Tracker Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2023.

Market Scenario

The Solar PV Tracker Market is going to change the way energy is being generated from solar systems around the world. Solar trackers are fast becoming an essential component in a solar power system, be it utility, commercial, or residential level, as they have tremendous influence in increasing the efficiency of the solar power generation systems. As the solar tracker can increase the efficiency by at least 15-30 %, it is highly sought for enhanced performance of solar power generation systems. By enhanced operation it generally refers to the increased operational efficiency of solar panels through constant exposure to maximum radiation.

The Solar PV Tracker Market is expected to have an immediate impact on the utility and commercial scale large solar power plants as operational efficiency is critical to the project success. Global solar panel power producers are looking into maximizing operational flexibility and efficiency, and solar trackers offer them both. By generating more energy when the sun is available, operators can store and use the excess energy at night, or they can export more power to the grid and expect more tariff rates. However, high upfront and maintenance costs associated with solar trackers, coupled with the inability of tracker systems to withstand external disturbances are potentially hindering the growth of the solar PV tracker systems market. 

The global solar PV tracker market is estimated to grow at ~ 18% CAGR during the forecast period.

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Key Players

MRFR recognized some reputed solar PV tracker marketers. They are; Arctech Solar (India), Convert Italia (Italy), Exosun (U.S.), First Solar (U.S.),   SunLink (U.S.), Ideematec (Germany), NClave (Spain),  Grupo Clavijo (Spain), PV Hardware (U.S.), Mahindra Susten (India), Solar Steel(Spain), NEXTracker (U.S.),  Sun Action Trackers (U.S.), Scorpius Trackers (India), Soltec(U.S.), STi Norland (Spain), and SunPower (U.S.).

Segmental Outline

The segment study of the solar PV tracker market is based on power generation type, tracking control systems type, end-use industries, and tracking system type. 

The dive system based segments of solar PV tracker market are active and passive. The power generation type based solar PV tracker market segments are concentrated solar thermal, solar PV, and CSP. The CSP segment can gain high traction for the market. The CSP segments are dish or engine type, linear Fresnel, and power towers. Concentrated solar thermal systems are observed to experience high desirability due to its efficacy in settling domestic water heating and in the generation of steam requirements. The tracking systems type based, solar PV tracker market segments are dual axis tracking systems, single axis, and fixed tilt. The dual axis tracking systems segment can dominate the market in the assessment period, as applications of dual axis tracking systems rise. The large scale installation of active tracking systems can propel the solar PV tracker market.

Regional Analysis 

Asia-Pacific region in Solar PV Tracker market holds the highest market share in 2017.

The Asia-Pacific region is expected to dominate the market as the region is experiencing higher solar power installation than any other region. Favorable policy support structure and the need to reduce carbon emissions is driving the solar power generation. Power systems operators in the region are looking to include solar trackers as they can enable them to operate plants at higher efficiencies. For instance, one of the major players, Scorpius Trackers, has installed around 50 MW of solar tracker projects last year in India.

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