“Growing solar energy projects due to government initiatives, prevailing the global solar tracker market growth.”
According to the OMR analysis, global solar tracker market is expected to grow impressively during the forecast period (2018-2023). The global solar tracker market is segmented based on type, end-user, and technologies. The report provides detailed and insightful chapters on market overview, key findings, strategic recommendations, market estimations, market determinants, key company analysis, market insights, company profiling, market segmentation, geographical analysis, analyst insights and predictive analysis of the market.
Full report of Global Solar Tracker Market is available at Global Solar Tracker Market
The global solar tracker market is witnessing significant growth due to the rise in several solar energy projects. The government provides incentives to deploy solar plants in various sectors such as industrial, residential, commercial and others. The government of different countries initiates’ policy to provide incentives to solar panel owners to reduce the installation cost load. According to the Solar energy Industries Association, there are more than 7,300 major solar projects in 2018, representing more than 105 GW (gigawatt) of capacity and more than 31 GW of major solar projects currently operating and rest of the 74 GW of large-scale solar projects are in development and construction stage. Additionally, the rising PV installation augmenting the global solar tracker market. In 2017, the cumulative solar PV capacity touched almost 398 GW and produced over 460 TWh, that represents around 2% of global power output. Over 60% of total PV installed capacity, accounted by the utility-scale projects, with the rest in dispersed applications such as residential, commercial and off-grid. The solar PV is anticipated to be the major renewable electricity capacity, accounted for almost 580 GW under the renewables in 2018. Key players that are contributing in the growth of the market include Abengoa Solar, S.A., Array Technologies, Inc., Flextronics International Ltd, Convert Italia S.P.A., Vikram Solar Ltd., First Solar, Inc., and others.
Geographically, the global solar tracker market is segmented into North America, Europe, Asia-Pacific and rest of the world. Asia-Pacific has a significant market due to the growing demand for solar power in Asia-Pacific countries such as China and India, as lowering the cost of buying. Moreover, favorable government initiatives towards renewable sources are further increasing the demand for solar trackers in the region. North America & Europe has significant growth due to increasing electricity generation from renewable sources in the region.
The report covers
Comprehensive research methodology of global solar tracker market.
This report also includes a detailed and extensive market overview with key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global solar tracker market.
Insights about market determinants which are stimulating the global solar tracker market
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