According to the market research report released by Technavio, the global solar PV tracker market is expected to accelerate at a CAGR of over 22% during the forecast period. The declining cost of solar energy is one of the key factors triggering the growth of the market.
This research report titled ˜Global Solar PV Tracker Market 2017-2021 provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global solar PV tracker market into the following technologies:
- Solar PV
In 2016, the solar PV segment accounted for 86% of the global market and is projected to reach 92% by 2022, exhibiting almost 6% increase in market share.
Global solar PV tracker market: Top emerging trend
The increasing conversion efficiency of solar PVs is an emerging trend in the solar PV tracker market space. Solar power is a clean and abundant source of energy. However, it is low on efficiency when compared with other sources of electricity generation. Solar PVs convert approximately 15% of the sunlight that falls on the panel into electrical power. Though the technology is constantly evolving, the conversion rate of solar PVs is no match for energy generated by burning fossil fuels.
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Technavios sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Technavios report provides expert market research on the following topics:
- Market Outline
- Global Solar PV Tracker Market Overview
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, and EMEA)
- Key leading countries
- Market segmentation by technologies (solar PV and CSP)
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (Arctech, Array Technologies, Convert Italia, First Solar, NEXTracker)
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