Industry Analysis

Solar Tracker Market Insight by Trends, Opportunities, and Competitive Analysis

Solar trackers are used for increasing the power output from solar receivers and solar panels. These devices follow the motion of the sun, that is, from east to west every day, and keep the orientation of the solar panels/solar collectors toward the sun. This technique significantly increases the amount of sunlight falling on the solar energy collectors, which in turn, increases the power output. These devices have the ability to improve the energy output of solar panels by nearly 20—30%, thereby enhancing the economies of the overall solar energy project.

One of the key factors fueling the demand for solar trackers is the increasing requirement of solar energy in commercial, industrial, and residential applications. Moreover, there has been a drastic shift toward the use of solar energy over the last few years, primarily due to the increasing emissions and environmental damage caused because of the large-scale utilization of fossil fuels to generate power. In addition to this, many people are increasingly adopting solar trackers for residential purposes, mainly for increasing electricity conversion rates.

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Dual axis and single axis are the two main types of solar trackers used all over the world. Of these, the usage of the single axis solar trackers was found to be higher in the past. This is ascribed to the large-scale utilization of these trackers in utility solar projects, on account of the fact that these projects are developed on lands having large areas and thus, don’t have the space constraints of commercial and residential buildings. Additionally, the lower maintenance and installation costs of these trackers than the dual axis ones made them highly sought after across the world.

Thus, it can be safely said that the sales of solar trackers will escalate all over the world in the upcoming years, primarily due to the growing popularity of solar energy and the increasing requirement of higher solar power output in various residential, commercial, and utility applications across the world.