Solar PV Tracker Market to grow by USD 7.43 Bn by 2026, Declining cost of solar energy to boost market growth -Technavio – QNT Press Release

[ad_1]

NEW YORK, Oct. 12, 2022 /PRNewswire/ — The solar PV tracker market is expected to grow by USD 7.43 billionat a CAGR of 17.28% during the forecast period. The rise in investments in renewable energy, increasing government support and the declining cost of solar energy is one of the major factors propelling the market growth. However, factors such as intermittency in solar power generation, competition from alternative sources of energy, and high water requirement for CSP projects will hamper the market growth. Request Free Sample Report.

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• Abengoa SA
• AllEarth Renewables Inc
• ArcelorMittal SA
• Arctech Solar Holding Co Ltd
• Array Technologies Inc.
• Convert Italia SpA
• First Solar Inc.
• GameChange Solar
• Grupo Gransolar SL
• Hao solar Co Ltd
• IDEEMATEC Germany GmbH
• Mahindra Susten.

• Product placement (single-axis trackers and dual-axis trackers)
• Technology (solar PV and CSP)
• Geography (North America, EuropeAPAC, South Americaand the Middle East and Africa)

North America will account for 37% of market growth. One of the major markets in North America for solar PV trackers is the US. This region’s market will grow less quickly than the markets in APAC, MEA, and South America. Over the forecast period, the expansion of the solar PV tracker market in North America would be aided by the falling cost of solar energy.

There will be a large increase in the single-axis tracker segment’s solar PV tracker market share. In terms of market share, single-axis trackers dominated the solar PV tracker market in 2021 and are anticipated to do so again during the projected period. The The cost of them is lower than that of dual-axis trackers. Buy Sample Report.

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Related Reports:
Off-Grid Energy Storage System Market by Battery Type and Geography – Forecast and Analysis 2022-2026: The off-grid energy storage system market share is expected to increase by USD 6.22 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7%.

Small Wind Turbine Market by Type and Geography – Forecast and Analysis 2022-2026: The small wind turbine market is projected to grow by 1821.02 megawatts with a CAGR of 13.85% during the forecast period 2021 to 2026.

Full story available on Benzinga.com

[ad_2]

Source link