Title: Solar Tracker Market size forecast to reach USD 7.54 billion by 2023, with growth expectation of 12% CAGR from 2016 to 2023
1Solar Tracker Market size forecast to reach USD
7.54 billion by 2023 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
2 Key Insights from Solar Tracker Market
- Global solar tracker market size is set to reach
29.5 GW by 2023, with estimated gains at 16.4 up
to 2023. -
- APAC, led by China, India, Japan, was the
leading regional industry with overall
installations close to 2 GW in 2015. -
- Concentrated solar power (CSP) technology in
China may grow significantly at close to 24 CAGR
and may reach over 550 MW by 2023. -
- North America, driven by the U.S. solar tracker
market size, expects installations at over 8.5 GW
by 2023. Dual axis tracking systems in the U.S.
may witness sizable gains at 18.0 CAGR up to
2023. - Utility application in Spain is forecast to grow
at over 12.8 CAGR and reach close to 1.2 GW by
2023. -
3Continued...
- Global solar tracker market share is moderately
fragmented with top four companies catering to
over 40 of the demand with numerous regional
participants having regional presence. Wuxi Hao
Solar, Grupo Calvijo, Abengoa, and SunPower are
notable industry players. -
- Other prominent market participants include
AllEarth Renewables, Array Technologies, Titan
Tracker, Energia Ercam, and Soitec.
4India Solar Tracker Market Size, By Product,
2013-2023 (USD Million)
5 Browse Full Market Research Report On Solar
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6 360 Analysis
- Application Analysis
- Solar PV technology has been one of the fastest
growing renewable energy sources over the last
five years. These systems are employed in
residential, commercial, and utility applications
on account of various factors including
decreasing cost and high efficiency. - Regional Analysis
- Western developed economies dominate the industry
at present, owing to evolved energy policies and
strong awareness levels. Europe, with Germany and
Spain solar tracker market share leading the way,
is likely to achieve 7,210.2 MW installed
capacity by 2023. - U.S. solar tracker market size should reach
3,229.8 MW installed capacity by 2023. APAC, MEA
and Latin America are relatively under developed
regional markets and should offer significant
potential for industry participants. - Competitive Market Share
- With a number of regional participants with
domestic presence, the global solar tracker
market share is moderately fragmented, with just
over 40 commanded by the top four players. - Hao solar, Abengoa, Grupo Calvijo, Mecasolar,
SunPower Energia and PV Powerway are some widely
known industry participants, catering to a
significant chunk of demand in 2015.
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