Global Solar Automatic Tracking System Market is expected to promise high growth owing to increasing demand growing awareness about renewable energy sources in the recent years. Increasing demand from End-Use industries / Applications including automotive and aerospcae is expected to drive the growth of solar automatic tracking system market . This market has witnessed number of key developments by major companies including Abengoa Solar, Mecasolar, Ercam, AllEarth Renewables, Smart Trak, Array Technologies, Titan tracker, DEGERenergie, and SubPower with focus on organic as well as inorganic growth strategies. Developing regions including Asia Pacific and Middle East have been among the high potential markets with high growth in some of the key economies.
Energy is an important aspect of the growth and development of any nation. As there has been increased consumption of non-renewable energy sources resulting in its depletion, renewable energy sources are now being harnessed. Solar energy is one of the renewable sources, which is available in abundance.
A solar tracker is a device that orients solar panels in the direction of the sun. The trackers are used to mount panels that convert solar energy to electricity.
Segment Insights
This solar automatic tracking system market has been segmented on the basis of product type and application.
On the basis of product type, the solar automatic tracking system market has been divided into a single axis and dual axis. The single-axis segment has been further segmented into horizontal, vertical, and tilted. The horizontal single-axis tracker is used in tropical regions, which are low latitude regions. The vertical tracker is used in high latitude regions. Any intermediate region makes use of tilted single-axis trackers.
The dual-axis solar tracking system is more efficient, as it follows the sun for direct contact. However, these systems are expensive as compared to single-axis trackers.
Based on application, the market has been segmented into automotive, aerospace, and others.
The initial high cost of the installation of these trackers can hinder the market growth.
Key Factors Impacting Market Growth:
- An increasing number of smart city projects
- Growing awareness about renewable energy sources
- Governments support for renewable energy
Regional Outlook:
The regional outlook for solar automatic tracking system market provides detailed information for markets including North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World. North America and Western Europe are estimated to be key regions for solar automatic tracking system market during the forecast period. Being one of the industrialized regions, the energy & power sector is key to the operations of various industries in this region. This is one of the important factors governing the growth of solar automatic tracking system market in these regions. Some of the major countries covered in this region include US, Germany, UK, France, Italy, Canada, and so on.
Asia Pacific is estimated one of the fastest growing regions for solar automatic tracking system market during the forecast period. Some of the fastest growing economies and increasing demand for energy & power to cater high population & industries is expected to drive the demand in this region. China and India are projected to register major demand during the forecast period. Middle East that includes UAE, Saudi Arabia, Iran, Qatar, and others promises high market potential during the forecast period. Rest of the World including South America and Africa are emerging regions in terms of market demand during the forecast period.
Companies Covered: Abengoa Solar, Mecasolar, Ercam, AllEarth Renewables, Smart Trak, Array Technologies, Titan tracker, DEGERenergie, and SubPower
Market Segmentation:
By Product Type:
- Single Axis
- Horizontal
- Vertical
- Tilted
- Dual Axis
By Application:
- Automotive
- Aerospace
- Others
By Region:
- North America
- By Country (US, Canada, Mexico)
- By Type
- By Application
- Western Europe
- By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
- By Type
- By Application
- Eastern Europe
- By Country (Russia, Turkey, Rest of Eastern Europe)
- By Type
- By Application
- Asia Pacific
- By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
- By Type
- By Application
- Middle East
- By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
- By Type
- By Application
- Rest of the World
- By Region (South America, Africa)
- By Type
- By Application
Reasons to Buy This Report:
- Market size estimation of the global solar automatic tracking system market on a regional and global basis
- The unique research design for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the market
Customization:
We provide customization of the study to meet specific requirements:
- By Segment
- By Sub-segment
- By Region/Country
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