Solar PV Tracker Market by Technology, Product, and Geography - Forecast and Analysis 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR41016
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The solar PV tracker market size is expected to grow by 102.11 GW during 2020-2024. The market is fragmented, and the market’s growth momentum will accelerate during the forecast period. 

This solar PV tracker market research report provides a detailed analysis of the market by technology (solar PV and CSP), product (single-axis trackers and dual-axis trackers), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Arctech Solar Holding Co. Ltd., Array Technologies Inc., Convert Italia SpA., First Solar Inc., Heliogen Inc., IDEEMATEC Deutschland GmbH, Mahindra Susten Pvt. Ltd., NEXTracker Inc., and Soltec Energias Renovables S.L., and SunPower Corp.

Statistical Analysis of Solar PV Tracker Market

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To help clients improve their market position, the solar PV tracker market report for 2020-2024 provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Arctech Solar Holding Co. Ltd.
  • Array Technologies Inc.
  • Convert Italia SpA.
  • First Solar Inc.
  • Heliogen Inc.
  • IDEEMATEC Deutschland GmbH
  • Mahindra Susten Pvt. Ltd.
  • NEXTracker Inc.
  • Soltec Energias Renovables S.L.
  • SunPower Corp.

This report provides information on the upcoming solar PV tracker market trends and challenges that will influence market growth. The rise in investments in renewable energy will offer immense growth opportunities. However, intermittency in solar power generation may impede market growth. The inputs on drivers and trends will help in creating strategies to make the most of future growth opportunities.

To make the most of the opportunities, vendors should focus on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Solar PV Tracker Market: Segmentation by Geography

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The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. North America had the largest market share in the solar PV tracker market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The declining cost of solar energy will significantly influence solar PV tracker market growth in this region.

37% of the market’s growth will originate from North America during the forecast period. The US is one of the key markets for solar PV tracker in North America. Market growth in this region will be slower than the growth of the market in APAC, MEA, and South America. This report provides an accurate prediction of the contribution of all segments to the growth of the solar PV tracker market size.

Key Highlights of the Solar PV Tracker Market Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive solar PV tracker market growth during the next five years
  • Precise estimation of the solar PV tracker market size and its contribution to the parent market
  • Solar PV tracker market facts & figures and accurate predictions on upcoming trends and changes in consumer behaviour
  • Estimation of potential solar PV tracker market by technology, product, and geography
  • Identification of key countries across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of solar PV tracker market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The solar pv tracker market growth will increase by $102.11 GW during 2019-2024.
The solar pv tracker market is expected to grow at a CAGR of 38.77% during 2019-2024.
Technavio has segmented the solar pv tracker market by technology (Solar PV and CSP) ,other 1 (Skin brightening products, Anti aging skincare products, Sun protection products, Moisturizers, and Others) , and geographic (North America, Europe, APAC, and South America).
Arctech Solar Holding Co. Ltd., Array Technologies Inc., Convert Italia SpA., First Solar Inc., Heliogen Inc., IDEEMATEC Deutschland GmbH, Mahindra Susten Pvt. Ltd., NEXTracker Inc., Soltec Energias Renovables S.L., SunPower Corp. are a few of the key vendors in the solar pv tracker market.
North America will register the highest growth rate of 40.00% among the other regions. Therefore, the solar pv tracker market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the solar pv tracker market growth are:
  • Declining cost of solar energy
  • Rising demand for multifunctional skincare products
The solar pv tracker market vendors should focus on grabbing business opportunities from the solar pv segment as it accounted for the largest market share in the base year.
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