Global Solar Automatic Tracking System Market was value US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027 at a CAGR of XX %.
Global Solar Automatic Tracking System Market, by ProductThe objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global solar automatic tracking system market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global solar automatic tracking system market.
The factors that are supporting to drive the growth of the automotive solar tracker market are increasing smart city projects, innovations in solar trackers, growing awareness regarding renewable energy sources and reducing the cost of solar energy. Government motivations to support renewable energy have driven demand in the residential and commercial sector. FIT (Feed in Tariff) scheme initiated in April 2010 under which electricity supplier, mostly in residential constructions, will give payments for each kW generated which is known as generation-tariff. Though, High initial investment cost and installation charges may restrain the market growth.
Single axis solar automatic tracking system segment is leading the market. Due to solar trackers either have a horizontal or a vertical axis. The horizontal type is used in tropical regions where the sun gets very high at noontime, but the days are short. The vertical type is used in high latitudes where the sun does not get very high, however, summer days can be very long. In concentrated solar power uses, single axis trackers are used with parabolic and linear Fresnel mirror designs.
Region-wise, North America accounts for the largest market share of global solar automatic tracking system market and is projected to lead the overall market in the years to come. The reason being, increasing awareness regarding renewable energy, use of enhanced technology, and the presence of key manufacturers in the region. The US is the major consumer of solar automatic tracking system market in the North America region. Followed by Europe and the Asia Pacific. On the other hand, Asia Pacific is estimated to grow at the fastest pace in the upcoming years. The Asia Pacific, led by India, China, & Japan, was the leading regional industry with overall installations close to 2 GW in 2017.
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The scope of the Global Solar Automatic Tracking System Market
Global Solar Automatic Tracking System Market, by Product
• Single Axis Solar Automatic Tracking System
• Dual Axis Solar Automatic Tracking System
Global Solar Automatic Tracking System Market, by End user
Global Solar Automatic Tracking System Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Solar Automatic Tracking System Market
• Abengoa Solar
• AllEarth Renewables
• Smart Trak
• Array Technologies
• Titan tracker
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