Growth of Single Axis Solar PV Tracker Market to be Impacted by the Declining Cost of Solar Power Generation| Technavio

The market will decelerate at a CAGR of around 25% between 2020-2024

Technavio has announced its latest market research report titled Global Single Axis Solar PV Tracker Market 2020-2024 (Graphic: Business Wire)

LONDON--()--The report, global single axis solar PV tracker market 2020-2024 has been added to Technavio's catalog. It provides a comprehensive analysis of the market, including its global and regional market share as well as market segmentation based on geographic regions and application for the forecast period 2020-2024.

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The report on the single axis solar PV tracker market includes:

Single Axis Solar PV Tracker Market Analysis and Forecast 2020-2024: Features

  • Competitive landscape
  • Market segmentation
    • Regional Segmentation
    • Application
  • Market drivers
  • Market trends
  • Market challenges
  • Five forces analysis
  • Market landscape
  • Market sizing & forecast

Single Axis Solar PV Tracker Market 2020-2024: Competitive Landscape

  • Vendors covered
  • Vendor classification
    • Abengoa SA
    • Arctech Solar Holding Co. Ltd.
    • Array Technologies Inc.
    • Convert Italia SpA
    • First Solar Inc.
    • IDEEMATEC Deutschland GmbH
    • Mahindra Susten Pvt. Ltd.
    • NEXTracker Inc.
    • Soltec Energias
    • Renovables SL
    • SunPower Corp.

Single Axis Solar PV Tracker Market Landscape 2020-2024: Geographic Landscape

  • APAC - size and forecast 2019-2024
  • Europe - size and forecast 2019-2024
  • MEA - size and forecast 2019-2024
  • North America - size and forecast 2019-2024
  • South America - size and forecast 2019-2024
  • Key leading countries

Single Axis Solar PV Tracker Market Landscape 2020-2024: Application Segmentation

  • Utility - size and forecast 2019-2024
  • Distributed generation - size and forecast 2019-2024

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Declining cost of solar power generation will drive the single axis solar PV tracker market

Solar power generation is gaining prominence among all other renewable sources of energy as it is one of the cheapest sources of clean energy. During non-productive hours, the intermittent nature of solar energy can be overcome by using energy storage systems. In addition, the cost of solar energy generation is declining due to factors such as competitive bidding processes and government initiatives and subsidies. These factors have led to an increase in the number of solar PV panel installations, especially in economies such as India, China, and the US. Thus, the declining cost of solar power generation will boost the growth of the single axis solar PV tracker market during the forecast period.

Supportive government policies and regulations – An emerging trend in the single axis solar PV tracker market

Governments around the world are focusing on the generation of emission-free energy to bring about a change in the energy mix. As a result, they are providing tax benefits, incentives, and subsidies to promote the adoption of renewable technologies, including solar energy. For instance, in the US, an important federal policy mechanism, the Solar ITC, was introduced to support the deployment of solar energy in the country. Furthermore, the introduction of favorable government policies is also helping solar equipment manufacturing companies to reduce the cost of solar PV systems. Thus, the increase in number of supportive government policies and regulations is expected to showcase a positive outlook during the forecast period.

Other Key Topics Covered in the Report are:

MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

MARKET SIZING

  • Market definition
  • Market sizing 2019
  • Market size and forecast 2019-2024

Get Full Report: https://www.technavio.com/report/single-axis-solar-pv-tracker-market-industry-analysis

CUSTOMER LANDSCAPE

DECISION FRAMEWORK

DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

Technavio also offers custom research services providing focused, comprehensive, and tailored research.

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Related Reports on Energy include:

Geothermal Drilling Market for Power Generation – Global Geothermal Drilling Market for Power Generation by application (binary plants and steam plants) and geography (the Americas, APAC, and EMEA).

Diesel Fuel Market – Global Diesel Fuel Market by geography (APAC, Europe, MEA, North America, and South America) and end-user (transportation, industrial, and others).

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: https://www.technavio.com

 

Release Summary

The single-axis solar PV tracker market size has the potential to grow by 76.78 GW during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: https://www.technavio.com