A new Transparency
Market Research report states that the global solar trackers market
had an annual installed capacity of 1,188.5 MW in 2010 and is
predicted to reach 6,998.8 MW by 2020
According to the
report, the market for solar trackers is stimulated by the increasing
demand for photovoltaic (PV) and the increasing feed-in tariff (FIT)
and incentive schemes by governments. In addition, the increasing
prices of electricity are augmenting the photovoltaic market which is
further fuelling the solar trackers market. Furthermore, the solar
cells’ efficiency is boosted by tracking systems, thus impacting
the market positively. On the other hand, the capital-intensive
technology is predicted to restrain the growth of the market in the
coming years.
On the basis of
technology, the solar trackers market is segmented into solar
photovoltaic PV, concentrated solar power (CSP), and concentrated
photovoltaic (CPV). Amongst these, the segment of CPV is amongst the
prime segment within the market for solar trackers owing to a number
of advantages associated with this concentrated photovoltaics.
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On the basis of
product, the market is segmented into dual axis and single axis.
Amongst these, single axis trackers are majorly utilized in solar PV
systems owing to their cost-friendly nature as well as high
electricity output in comparison to dual axis trackers. Single axis
trackers comprise a single axis for rotation and they can be
vertical, polar or tilted, and horizontally aligned. On the other
hand, dual axis trackers comprise two axes for rotation and
vertically trap maximum of the solar radiations. In terms of
application, the solar tracker market is segmented into non-utility
and utility.
On the basis of
geography, the market is segmented into Europe, Latin America, North
America, the Middle East and Africa (MEA), and Asia Pacific. Amongst
these, in 2010, Europe led the market and constituted over 60% share
in the market on the basis of annual installed capacity. North
America trailed Europe on the basis of annual installed capacity and
represented 26% in the market in the same year. In Europe, Germany,
Italy, Greece, and Spain are the prime markets for solar trackers.
Spain, within the European region, and China, within Asia Pacific,
are predicted to exhibit the swiftest growth as compared to all other
countries owing to government support provided for energy generation
via renewable sources.
As stated in the
report, the market for solar trackers is fragmented in nature, but
still some companies have maintained their foothold since the past
few years. The chief companies operating in the market are Frontier
Technology Group Ltd., Amonix, Energia Ercam, Mechatron, Ideematech
Deutschland GmbH, SmartTrak Solar Systems Pvt. Ltd, and Haosolar Co.
Ltd. Amongst these, in 2010, Haosolar Co. Ltd. emerged as the largest
producer of solar trackers and represented 23% on the basis of annual
installed capacity and was trailed by companies such as Abengoa and
SunPower, as per this study.
The solar
trackers market has been segmented as follows:
Solar Tracker
Market: Technology Analysis
- Solar PV
- Concentrated Photovoltaic (CPV)
- Concentrated Solar Power (CSP)
Solar Tracker
Market: Product Analysis
- Single Axis
- Dual Axis
Solar Tracker
Market: Application Analysis
- Utility
- Non-Utility
Solar Tracker
Market: Regional Analysis
- Solar Tracker Market: Regional Analysis
- Europe (Spain, Italy, Germany and Greece
- Asia Pacific (China, India and Japan)
- Latin America (Brazil and Chile)
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