Solar Tracker Market COVID-19 Impact Analysis, Business Strategies, Revenue and Growth Demands and Industry Forecast Report 2029
Solar Tracker Market Overview:
This study's objective is to present a thorough market segmentation by geographic regions and product types, as well as an overview of the Solar Tracker industry. The analysis includes major information on market positions of the top Solar Tracker organizations as well as significant industry trends and opportunities.
The study also includes information on the major players in the global Solar Tracker Market, such as company biographies, product images and specifications, production capacity, pricing, cost, and contact information. This study examines the entire Solar Tracker Market Size from a global perspective and makes predictions about future trends based on past data.
Solar Tracker Market size reached USD 13.30 billion in 2021 and is expected to reach USD 54.19 billion by 2029, growing at a CAGR of 19.2 % during the forecast period.
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COVID-19 Impact Analysis on Solar Tracker Market:
The COVID-19 outbreak has caused substantial changes in consumer behavior across many areas of society. On the other hand, industries will need to modify their strategies to account for changing market supply. This report offers an overview of COVID-19's impact on the market and will help you build your business in accordance with the new industry standards. The results are verified through reviews and market leaders. The secondary research and analysis of the same are done using both paid and unpaid databases. Consumption in each nation by kind and supply by each player are sourced from legitimate government databases, paid databases, and, in the case of listed firms, company annual reports.
Solar Tracker Market Scope:
Aftermarket engineering undertook thorough primary research that included data triangulation, market breakdown, estimates, computations of market statistics, and calculations of market size in order to gather information, validate important figures, and verify the findings. To calculate percentage splits, market shares, and segment breakdowns, weights based on usage rate and average sale price are applied to each location. Based on the stated market size's acceptance or usage in the relevant region, the global markets and their sub-segments are segmented by country. Numerous market and industry-related topics are highlighted in the research. New product launches, business expansions, partnerships, joint ventures, and acquisitions are a few examples of marketing techniques. Additionally, the key components of the market research that clearly focus on the industry landscape have all been taken into consideration when structuring this study.
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Segmentation Analysis:
Dual axis trackers are much more expensive than single axis trackers depending on the drive type. Dual-axis trackers need more sophisticated technology, as well as high-maintenance motors and control systems, which raises O&M expenses and increases the amount of acreage needed. The widespread use of dual-axis trackers is severely hampered by these issues. When compared to a fixed tilt installation, a dual-axis tracker can increase the overall cost of your PV plant by up to 50%.
Utility is anticipated to experience the highest CAGR growth based on Application during the projection period. Solar trackers are projected to be used more frequently in utility applications due to rising electricity costs and rising demand for renewable energy sources. Over the course of the forecast, this trend is anticipated to persist. Single-axis trackers can be used to follow the sun throughout the day because utility solar systems are ground-mounted. Due to expanding government subsidies and feed-in tariff programmes, particularly in North America and Europe, trackers are widely used in utility applications.
Key Competitors:
The industry placed a strong emphasis on alliances, purchases, and collaborations as inorganic growth tactics. The Solar Tracker Market's potential for future rapid growth means that industry participants should benefit from it. The businesses listed below make up the global Solar Tracker Market.
• Array Technologies, Inc. (U.S.)
• NEXTracker (U.S.)
• Array Technologies (U.S.)
• Trina Solar (China)
• SunPower Corporation (U.S.)
• ArcelorMittal Projects (Luxemburg)
• Soltec (Spain)
• Convert Italia (Italy)
• PV Hardware (Spain)
• Arctech Solar (U.S.)
• Solar Steel (Spain)
• Ideematec (Germany)
• Scorpius Trackers (India)
• Sun Action Trackers (U.S.)
• DEGERENERGIE GMBH & CO. KG (Germany)
• GameChange Solar (New York)
• STI Norland (Spain)
• MECASOLAR (Spain)
• Mechatron (India)
• OPTIMUM TRACKER (France)
• Powerway Renewable Energy Co. Ltd. (China)
• Schletter (Germany)
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Regional Analysis:
After examining the political, economic, social, and technological aspects influencing the Solar Tracker Market in each of these regions, the report also includes extensive PESTLE assessments for each of the five regions—North America, Europe, Asia Pacific, the Middle East, Africa, and South America.
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