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Global Solar PV Tracker Market 2017-2021

Global Solar PV Tracker Market 2017-2021

About Solar PV Tracker

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.

Technavio’s analysts forecast the global solar PV tracker market to grow at a CAGR of 22.04% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global solar PV tracker market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Solar PV Tracker Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Arctech
  • Array Technologies
  • Convert Italia
  • First Solar
  • NEXTracker
Other prominent vendors
  • Abengoa
  • AllEarth Renewables
  • Edisun Microgrids
  • Exosun
  • GameChange Solar
  • Haosolar
  • Mahindra Susten*
  • Scorpius Trackers
  • Solar FlexRack
  • Soltec
  • Sun Action Trackers
  • SunLink
  • SunPower
Market driver
  • Declining cost of solar energy
  • For a full, detailed list, view our report
Market challenge
  • Competition from alternative sources of energy
  • For a full, detailed list, view our report
Market trend
  • Emergence of microgrid and green telecom
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Solar PV Tracker Market 2017-2021

Technavio recognizes the following companies as the key players in the global solar PV tracker market: Arctech, Array Technologies, Convert Italia, First Solar, and NEXTracker.

Other Prominent Vendors in the market are: Abengoa, AllEarth Renewables, Edisun Microgrids, Exosun, GameChange Solar, Haosolar, Mahindra Susten*, Scorpius Trackers, Solar FlexRack, Soltec, Sun Action Trackers, SunLink, and SunPower.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emergence of microgrid and green telecom. There has been an extraordinary development in the global telecom sector. Telecom operators have been installing new base transceiver stations (BTS) to support the explosion in data traffic. As per the World Bank, the global mobile cellular subscription per 100 persons increased from 84 in 2011 to 102 in 2016, which is driving the need for installation of additional BTS to provide a better network coverage, globally.”

According to the report, one driver in the market is declining cost of solar energy. In the past, the high cost and intermittent nature of renewables were the major hurdles to the adoption of solar energy. Energy storage technologies not only bridges the gap but also increases the penetration of renewable energy in hybrid systems. For instance, a typical solar PV normally converts approximately 15% of power. However, with the addition of a battery system, the power generated from solar PVs can go beyond 50%. Renewable penetration means the amount of renewables that can be added to the system output. For instance, a renewable penetration of 20% means that for 1 MW of installed generator capacity, 200 kW of renewable power can be added.

Further, the report states that one challenge in the market is competition from alternative sources of energy. Solar energy faces competition from other sources of energy such as wind, hydropower, and fossil fuels. According to the Wind Energy Council, the adoption of wind energy to generate electricity has been on the rise in the recent past, with the global addition of approximately 54.60 GW of capacity in 2016. The global cumulative wind power capacity stood at 496 GW in 2016 and targets over 800 GW of solar installations by 2021. The global offshore wind power capacity grew at a CAGR of 28.43% during 2011-2016. Wind energy contributed 46.56% to the total renewable energy investments in 2016.

Companies Mentioned

Arctech, Array Technologies, Convert Italia, First Solar, and NEXTracker, Abengoa, AllEarth Renewables, Edisun Microgrids, Exosun, GameChange Solar, Haosolar, Mahindra Susten*, Scorpius Trackers, Solar FlexRack, Soltec, Sun Action Trackers, SunLink, and SunPower.

  • Executive summary
  • Scope of the report
  • Research methodology
  • Introduction
    • Market outline
  • Market landscape
    • Market overview
      • Table Global solar PV tracker market 2017-2021: Segmentation
    • Market size and forecast
      • Table Global solar PV tracker market 2016-2021 (GW)
      • Table Utility-scale solar net electricity generation in the US 2007-2016 (thousand MWh)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by technology
    • Segmentation by technology
      • Table Global solar PV tracker market by technology - market size and forecast 2016-2021 (%)
    • Comparison by technology
      • Table Comparison by technology
    • Solar PV - market size and forecast
      • Table Global solar PV tracker market by solar PV segment - market size and forecast 2016-
      • Table Global solar PV tracker market by solar PV segment - year-over-year growth 2017-2021 (%)
    • CSP - market size and forecast
      • Table Global solar PV tracker market by CSP segment - market size and forecast 2016-2021 (GW)
      • Table Global solar PV tracker market by CSP segment - year-over-year growth 2017-2021 (%)
    • Market opportunity by technology
  • Market segmentation by product
    • Segmentation by product
  • Regional landscape
    • Geographical segmentation
      • Table Global solar PV tracker market by geography - market size and forecast 2016-2021 (%)
    • Regional comparison
      • Table Regional comparison
    • Americas - market size and forecast
      • Table Solar PV tracker market in the Americas - market size and forecast 2016-2021 (GW)
      • Table Solar PV tracker market in the Americas - year-over-year growth 2017-2021 (%)
      • Table Annual installations of solar PV systems in the US 2012-2016 (GW)
      • Table Solar PV tracker market: Top three countries in the Americas
    • APAC - market size and forecast
      • Table Solar PV tracker market in APAC - market size and forecast 2016-2021 (GW)
      • Table Solar PV tracker market in APAC - year-over-year growth 2017-2021 (%)
      • Table Solar power capacity and targets in major APAC countries
      • Table Solar PV tracker market: Top three countries in APAC
    • EMEA - market size and forecast
      • Table Solar PV tracker market in EMEA - market size and forecast 2016-2021 (GW)
      • Table Solar PV tracker market in EMEA - year-over-year growth 2017-2021 (%)
      • Table CSP projects in EMEA (under construction or planning phase), August 2017
      • Table Solar PV tracker market: Top three countries in EMEA
    • Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Indexed cost of utility-scale solar PV systems, 2009-2016 (2009=100%)
      • Table Indexed investment in the global renewable energy 2006-2016 (%)
    • Market challenges
      • Table Power generation pattern by 1 kW solar PV module in a day
      • Table Intermittency and its impact on power systems
      • Table Energy consumption from renewable sources in the US 2010-2016 (trillion Btu)
      • Table Global crude oil price 2011-2016 ($/bbl)
  • Market trends
    • Emergence of microgrid and green telecom
      • Table Global mobile cellular subscriptions per 100 people 2011-2016
    • Increasing conversion efficiency of solar PVs
      • Table Conversion efficiency of crystalline silicon cells 2010-2020 (%)
    • Emergence of smart cities
  • Vendor landscape
    • Competitive scenario
  • Vendor analysis
    • Vendor overview
    • Arctech
      • Table Arctech: Key products
    • Array Technologies
      • Table Array Technologies: Key products
    • Convert Italia
      • Table Convert Italia: Key products
    • First Solar
    • NEXTracker
      • Table NEXTracker: Key products
  • Appendix
    • List of abbreviations
  • Explore Technavio

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