Solar Tracker Market size forecast to reach USD 7.54 billion by 2023, with growth expectation of 12% CAGR from 2016 to 2023 - PowerPoint PPT Presentation

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Solar Tracker Market size forecast to reach USD 7.54 billion by 2023, with growth expectation of 12% CAGR from 2016 to 2023

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Solar tracker market size was calculated at 8.8 GW in 2015, as per the latest research report by Global Market Insights, Inc. Growth in energy conservation techniques coupled with preference for renewable power generation sources may boost industry demand. – PowerPoint PPT presentation

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Title: Solar Tracker Market size forecast to reach USD 7.54 billion by 2023, with growth expectation of 12% CAGR from 2016 to 2023


1
Solar 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.
  •  

3
Continued...
  • 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.

4
India Solar Tracker Market Size, By Product,
2013-2023 (USD Million)

5

Browse Full Market Research Report On Solar
Tracker Market _at_ https//www.gminsights.com/indust
ry-analysis/solar-tracker-market Request for
a Sample of this Research Report _at_
https//www.gminsights.com/request-sample/detail/3
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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.


7
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