Tracking technology allows solar panels to track the movement of sun and enhance its output efficiency by 20% to 40% as compared to a fixed solar PV array. Flat-panel photovoltaic (PV), Concentrated Photovoltaic (CPV) and Concentrated Solar Thermal (CSP) are some of the key technologies in the solar tracker market. Solar trackers have unique functionalities in each application such as minimizing the angle of incidence between the photovoltaic panel and incoming sunlight in PV applications and orienting the optics in CPV and CSP systems. Presently, CPV is one of the emerging technologies in the solar energy industry due to the benefits it offers. Low manufacturing cost of CPV technology assists in generating energy at low costs. Around 85% to 90% solar panels can be recycled due to usage of glass and aluminum as raw materials.
Single axis and dual axis are two types of trackers installed worldwide. Single axis trackers have only one axis for rotation that could be horizontal, vertical, tilted or polar aligned moving from east to west over the course of a day. Dual axis trackers rotate in two axes, both east to west and vertically trapping maximum solar radiations. Single axis trackers are primarily used in solar PV systems due to their lower cost compared to dual axis trackers and high electricity output against fixed systems.
Europe has high DNI (Direct normal irradiance 5.5kWh/m2) due to which solar trackers are one of the preferred renewable technologies used for energy generation. Dual axis solar trackers applications are expected to increase in CSP and CPV plants. Single axis is preferred in utility scale projects due to low installation cost and high efficiency. Single axis tracker systems accounted for more than 85% market share in 2010, compared to dual axis solar trackers. Reduction of few FIT rates and incentive schemes hindered the non-utility market in North America. This was compensated with a provision of government stimulus for the development of large solar tracker installations in the U.S. and Canada. The shifting focus towards utility scale projects is likely to fuel the market. Increased and upcoming CSP installations wherein dual axis trackers are widely preferred are expected to bolster the dual axis trackers market over the forecast period.
Europe dominated the market in 2010 and accounted for over 60% of the global annual installed capacity. Annulment of certain premium schemes and reduction of FIT (Feed in Tariff) rates hindered the European solar tracker market. Europe was followed by North America in terms of annual installed capacity and accounted for over 26% of the global annual installed capacity 2010. Spain, Germany, Italy and Greece were the key countries of solar tracker in Europe, together, accounting for over 60% of the Europe’s annual installed capacity. China and Spain are expected to register the fastest growth amongst all regions owing to the stimulus offered by the government for energy generation through renewable sources. Indian solar tracker market is expected to surge with substantial annual installations in Gujarat and Rajasthan over the forecast period.
The solar tracker market is fragmented in nature however; a few companies have sustained their brand equity over the past couple of years by their global presence. Haosolar was the largest manufacturer of solar tracker in 2010 and accounted for over 23% of the market share by annual installed capacity. Abengoa Solar and SunPower were the next largest companies followed by others including Mecasolar, Energia Ercam, First Solar (Ray tracker) among others. Qbotix is gaining popularity with their invention of robotic devices that assist in the maintenance of the solar trackers during operation.
Solar trackers are the devices used to orient photovoltaic panels toward the sun to harness more sunlight. Solar trackers are devices which enable solar modules to remain in the best position to accumulate maximum energy from the sun. These trackers are installed in residential, commercial and utility scale solar projects. Solar tracker comprises of numerous components and parts including sun tracking algorithms, control unit, positioning system, drive mechanism system, sensing devices, wind guard, tubes, and rods. Based on the forecast for the coming years, Europe is expected to show a decline in demand for solar trackers. China, the U.S., India and Japan are expected to be the major driving forces for generating the demand for solar trackers. Going beyond the local market is the current trend in the industry and hence, the market is becoming truly global. Key players such as Mecasolar, DEGERenergie, and Titan Tracker are following this trend. Flat-panel photovoltaic (PV), Concentrated Photovoltaic (CPV) and Concentrated Solar Thermal (CSP) are key technologies where solar trackers are applied. Solar trackers have unique functionalities in each application such as minimizing the angle of incidence between the photovoltaic panel and the incoming sunlight in PV applications and orienting the optics in CPV and CSP systems. At present CPV is an emerging technology in the solar energy industry. The CPV system produces low cost solar power due to low manufacturing cost and fewer raw material requirements. Around 85% to 90% solar panels can be recycled due to usage of glass and aluminum as raw materials.
This research study analyzes the market size of solar tracker, both in terms of volume (annual installation capacity, MW) and revenue (USD Million). The solar tracker market has been segmented on the basis of technology, product, application, and geography, in order to provide a holistic picture of the market. The study analyzes the factors governing the market growth followed by the regulations and restraining factors confining the market growth. Market data for all segments has been provided on a regional level for the period 2010 to 2020. A comprehensive competitive landscape of key companies has also been provided in this report.
Key technologies analyzed in the report include solar photovoltaic, concentrated photovoltaic (CPV) and concentrated solar power (CSP). Solar tracker product segments estimated in this study include single axis and dual axis solar trackers. Major applications analyzed in this report include utility and non-utility. Regional data have been provided for North America (U.S. and Canada), Europe (Spain, Italy, Germany and Greece), Asia Pacific (China, India and Japan), and Latin America (Brazil and Chile). The study estimates and forecast market size in terms of revenue (USD Million) and volume (MW) for each segment by country pertaining to demand and supply with respect to the rising electricity prices and inflation. The country wise estimation aids in evaluating the solar tracker market with a better holistic approach.
This report also includes Porter’s five forces model analysis, value chain analysis, and market attractiveness analysis by technology. The value chain analysis of the market determines the key participants and their role in adding the value to the end product. The study determines the checkpoints wherein manufacturing costs can be minimized through manipulation. Some of the key market participants that deal in solar tracker include Abengoa Solar, All Earth Renewables, Array technologies, DEGERenergie, Ecosun Ltd, Energia Ercam, Mecasolar, Titan Tracker, Mechatron, SmartTrak, and Soitec. The report provides an overview of these companies followed by their financial revenue, business strategies, and recent developments.
The research provides detailed analysis of companies dealing in solar tracker, trend analysis and demand forecast by geography. Various levels of market segmentation for which estimate and forecast has been provided are as follows:
Solar Tracker Market: Technology Analysis
- Solar PV
- Concentrated Photovoltaic (CPV)
- Concentrated Solar Power (CSP)
Solar Tracker Market: Product Analysis
- Single Axis
- Dual Axis
Solar Tracker Market: Application Analysis
- Non Utility
Solar Tracker Market: Regional Analysis
Solar Tracker Market: Regional Analysis
Europe (Spain, Italy, Germany and Greece
Asia Pacific (China, India and Japan)
Latin America (Brazil and Chile)