Solar Tracker Market - Growth Prospects and Trends Forecast Report

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Solar Tracker Market - Growth Factors and
Opportunities Analysis to 2027

• In March 2021, Soltec, a major player in the
  global solar tracker market, rolled out a
  complete kit for building solar PV tracker plants
  with up to 12 MW capacity. The deal, which is
  called Solarfighter, comprises all the required
  equipment in addition to the plant maintenance
  and installation services that are provided by
  validated Soltec installers, in addition to the
  product warranty and customer service that is
  directly provided by the manufacturer.
• The project is designed to be combined within
  upcoming hydrogen storage projects and is among
  the several advancements that are expected to
  drive the demand for solar tracker systems over
  the ensuing years. On this note, the global solar
  tracker market size is estimated to exhibit
  remarkable growth through 2026, according to
  recent research by Global Market Insights, Inc.

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• This escalation is attributed to the soaring
  demand for the generation of clean energy across
  commercial institutes comprising shopping malls,
  schools, and hospitals. Strict efficiency
  standards and environmental norms coupled with
  increasing investments towards the development of
  commercial facilities are expected to augment
  solar tracker industry valuation through the
  estimated span.

• The market is further driven by the increasing
  adoption of single axis trackers due to their
  increasing cost effectiveness and the higher
  reliability index. Single axis solar trackers are
  available in two alternatives comprising
  horizontal axis and vertical axis. These trackers
  are considered an economically viable option as
  they require very little maintenance.

• Several institutions such as the World Bank and
  the International Finance Corporation (IFC) are
  showing a rising inclination towards PV panel
  installation as well as electrification programs.
  Citing an instance, in 2017, the World Bank Group
  established the scaling solar initiative, which
  began in Zambia and later expanded to other
  countries in the region.

• In addition, the ongoing efforts for increasing
  the share of renewable energy in the mix and the
  surging energy demand are expected to spur
  industry valuation through 2027. Customizable
  quality, low cost of installation, as well as
  improved power output, are additional factors
  boosting the onset of solar tracker projects
  across various regions.

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• Regional Analysis

• The Africa solar tracker market is projected to
  record commendable growth through 2027,
  considering the expansion of remote electrical
  networks and the gradual shift towards
  distributed power generation. Increasing
  regulatory efforts for the deployment of the
  existing resources for effectively meeting energy
  consumption will increase product penetration in
  the region.

• Competitive Analysis

• Prominent solar tracker manufacturers comprise
  GameChange Solar, SunPower Corporation, Titan
  Tracker, NEXTracker, Inc, Meca Solar, First
  Solar, and others. Rising investment in the
  development of solar PV module infrastructure
  across residential and commercial sectors will
  increase the adoption of solar tracker systems.

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