Global PV Trackers Market Projected To Grow At 9.3% CAGR Between 2018-2022

Date: 2018-04-16

A solar tracker is a device that orients a payload toward the Sun. Payloads are usually solar panels, parabolic troughs, fresnel reflectors, lenses or the mirrors of a heliostat. Concentrators, especially in solar cell applications, require a high degree of accuracy to ensure that the concentrated sunlight is directed precisely to the powered device.

PV Trackers is expected to grow positively due to the increasing installations of photovoltaic energy across the world, favorable government initiatives to promote off-grid solar power installations particularly in Asia Pacific, Europe are also expected to have a positive influence on the market growth, according to report, global PV Trackers market is projected to grow at 9.3% CAGR between 2018-2022, and reach 3.55 billion USD by 2022.

Geographically, the driver for growth is concerning detrimental environmental impact associated with fossil fuel and nuclear based power generation plant by governments. Governments across various countries have been promoting electricity generation through renewable energy sources. Asia Pacific is the largest solar energy market, and China is the largest photovoltaic installation country across the world, which is expected to remain the position for the next coming years. Also China is dominating the production of PV Trackers across the globe, which contributes over 53% global production.

Region followed Europe, which is expected grow at a CAGR of 10.2% over the forecast period; North America, is expected to register at a CAGR of 9.6% from 2018 to 2022.

Global top manufacturers operating in PV Trackers Market are General Cable Corporation, Huber+Suhner AG, Atkore International Group, Inc., ReneSola Ltd, Lumberg Connect GmbH, Ram Ratna Wires Ltd., Prysmian Group, Taiyo Cable Tech Co., Ltd., Allied Wire & Cable, and Lapp Group among others.

Global PV Trackers market share by region as following:

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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 510-400-8520


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