- The key vendors in the global solar tracker market 2015-2019 are AllEarth Solar, DEGER, First Solar, Haosolar and Mecasolar.
London, 29 September 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global solar tracker market 2015-2019. Use of technology increases the efficiency of the panel which ultimately boosts the overall output of the solar power plants. Advancements in solar tracking technology are focusing on the efficient use of materials and, thereby, increasing reliability. The global solar tracker market is expected to grow at a CAGR of 17.2% during the forecast period of 2014-2019.
The growth of this market is mainly attributed to the demand for renewable energy sources globally. It also depends on the cost-effectiveness and technological advancements in the solar tracker industry. Many vendors globally are investing in R&D activities to develop better technology and increase the durability and reliability of the solar trackers used in high-capacity projects.
“Utilities are being compelled to reduce their dependence on fossil-fuel based power plants and gradually shift toward clean sources of energy such as solar,” says Faisal Ghaus, Vice President of Technavio Research.
“The governments in various countries have also mandated low carbon emissions. With growing PV installations, there is a need to increase CUF, which can be done through solar trackers.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Solar Tracker Market 2015-2019, please send an e-mail to media@TechNavio.com
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