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Solar Tracker For Power Generation Global Market Report 2023

ReportLinker
ReportLinker

NEXTracker Inc., Soltec Energas Renovables, Arctech Solar Holding Co, Array Technologies Inc., Exosun, Gonvarri Solar Steel, Powerway Renewable Energy Co. Ltd., Meca Solar, SunPower Corporation, Haosolar Co.

New York, March 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Solar Tracker For Power Generation Global Market Report 2023" - https://www.reportlinker.com/p06319450/?utm_source=GNW
Ltd., Scorpius Trackers Private Limited, AllEarth Renewables, DEGER Energies GmbH & Co. KG, Convert Italia SpA, and GameChange Solar are major players.

The global solar tracker for power generation market grew from $6.07 billion in 2022 to $6.72 billion in 2023 at a compound annual growth rate (CAGR) of 10.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The solar tracker for power generation market is expected to grow to $9.92 billion in 2027 at a CAGR of 10.2%.

The solar tracker for the power generation market consists of sales of Horizontal Single-Axis Solar Tracker (HSAT), Horizontal Tilted Single-Axis Solar Tracker (HTSAT), Vertical Single-Axis Solar Tracker (VSAT), Vertical-Tilted Single-Axis Solar Tracker (VTSAT) , polar-axis tracking and altitude–azimuth tracking .Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

A solar tracker for power generation refers to positioning a photovoltaic panel at an optimum angle towards the sun to capture maximum sunlight and enhance the electricity production capacity of a solar plant.These are being used to generate clean energy and minimize carbon emissions during the power production process.

It is used to generate power by enhancing the efficiency of solar panels by capturing the maximum solar energy and maximizing the solar panel output.

North America was the largest region in the solar tracker for power generation market in 2022. The regions covered in this solar tracker for power generation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The solar tracker for the power generation market consists of sales of solar trackers by entities (organizations, sole traders, and partnerships) that are used to generate power by enhancing the efficiency of solar panels by capturing the maximum solar energy and maximising the solar panel output.A solar tracker for power generation refers to positioning a photovoltaic panel at an optimum angle towards the sun to capture maximum sunlight and enhance the electricity production capacity of a solar plant.

These are being used to generate clean energy and minimize carbon emissions during the power production process.

The main products of solar trackers for power generation are the single-axis and dual-axis.Single-axis trackers refer to a technology that adjusts the position of a solar panel along an axis to follow the sun’s changing position throughout the passing days and years.

The technologies used are PV and CSP. The various applications involved are residential, commercial, industrial, and utility.

The rising power demand for renewable energy sources is expected to propel the growth of solar trackers for the power generation market going forward.Renewable energy is the energy that comes from sources that are continuously replenished naturally, such as the sun, rain, geothermal heat, and waves.

Solar trackers use renewable energy sources for the generation of power.For instance, according to the International Energy Agency (IEA) investment report 2021, a France-based autonomous intergovernmental organization for energy, the global power sector investment was expected to rise by 5% to more than $820 billion in 2021 over 2020.

Renewables dominated new power generation investment, accounting for 70% of the $530 billion spent on all new power generation capacity in 2021. Therefore, the rise in power demand from renewable sources is driving the solar tracker for the power generation market.

The development of innovative products is the key trend gaining popularity in the solar tracker for the power generation market.Major companies operating in the solar tracker for power generation market are focused on developing innovative products to strengthen their position in the market.

For instance, in June 2021, Soltec, a Spain-based single-axis solar tracker manufacturer, launched the SFOne solar tracker.The new SFOne solar tracker is a highly adaptable solar tracker and can be used for any type of project across the globe.

The stone now has a double row 1P configuration as well as Dy wind technology.

In September 2020, Trina Solar, a China-based solar products and services provider, acquired NClave for an undisclosed amount.Trina Solar can strategically expand its business in the smart PV supplier segment by making NClave an independent subsidiary of Trina Solar.

Nclave is a Spanish company and a leading manufacturer of solar trackers.

The countries covered in the solar tracker for power generation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The solar tracker for power generation market research report is one of a series of new reports that provides solar tracker for power generation market statistics, including a solar tracker for power generation industry global market size, regional shares, competitors with a solar tracker for power generation market share, detailed solar tracker for power generation market segments, market trends and opportunities, and any further data you may need to thrive in the solar tracker for power generation industry. This solar tracker for power generation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
Read the full report: https://www.reportlinker.com/p06319450/?utm_source=GNW

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