Market Trends of Single Axis Solar Tracker Industry
This section covers the major market trends shaping the Single Axis Solar Tracker Market according to our research experts:
Single Axis Solar Trackers Driving the Solar Power Industry
- Single-axis trackers have a single degree of flexibility that serves as an axis of rotation. This is usually aligned along a North-South path, but it is possible to align them in any cardinal direction. But they are less effective when they move farther towards the Northern regions because the variance of the solar angle is higher between the summer and winter seasons in locations far from the equator.
- Nextracker Inc. contributing one-third of the tracker market is solely working on the single-axis solar trackers and emerged as the leading player in 2019.
- In April 2019, PV hardware Solutions S.L.U., a significant player in the solar tracker market, has been selected as the supplier for their single-axis solar tracker for more than 30 PV plants generating more than 3 GW of power.
- The single-axis tracker is 50% costly than a fixed PV panel setup but provides an extra 25%-35% surge in capacity. Its simple design offers the highest density of PV panel placement per square and has a shorter payback time. Whereas, Dual-Axis Trackers provide extra 10% capacity enhancement but cost extra 100% of fixed PV panel setup.
- Therefore, the aforementioned factors such as efforts to improve existing solar PV capacity along with supportive government policies and upcoming projects are expected to drive the market during the forecast period.
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North America to Dominate the Market
- North America is dominating the solar tracker market and expected to grow the market because of its current than 70 GW solar market in 2019.
- In December 2019, EDF Renewables, one of the largest renewable developers in North America, partnered with Array Technologies to supply 2 GW single-axis solar tracking equipment to deploy on projects that will be developed in the coming years.
- Rising concerns and protests for dependency on fossil fuels along with favourable government policies to adopt renewable will stimulate the Mexican solar tracker market. In March 2018, Enel group inaugurated PV plant that will be generating 1700 GWh electricity annually at a fully operational stage.
- In 2018, Magna International Inc. was awarded one of the most significant solar tracker installation projects in Canada, which is also working on the modification of 2.5 GW of fixed-tilt solar panels with single-axis solar trackers.
- With the increasing efforts to deploy solar power installed capacity across the region, the market for single axis solar trackers in North America is expected to witness a significant demand in the coming years.
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