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Solar Tracker Industry to 2020 – Market Outlook, Industry Trends: Grand View Research, Inc.

Solar Tracker Industry to 2020 – Market Outlook, Industry Trends: Grand View Research, Inc.

The global solar tracker market is expected to reach USD 2.14 billion by 2020, according to a new study by Grand View Research, Inc. Solar photovoltaic (PV) technology dominated the solar tracking market accounting for over 49 % of the total installed capacity in 2013. Solar PV is employed for to minimize the angle of incidence between a PV panel and the incident sun rays.

Europe continued its dominance in global solar tracker market and accounted for over 28% of the total installed capacity in 2013. Increasing environmental norms and governmental regulations for using conventional fossil fuels were major factors that led to the development of solar power plants. The increasing acreages of solar power plants further boosted the solar tracker market growth. Latin America is anticipated to be the fastest growing regional market, at an estimated CAGR of 22.5% from 2014 to 2020. Increasing demand for electricity and rising concerns for sustainable and renewable energy, especially in Brazil, Mexico and Argentina is anticipated to augment the solar tracker market growth over the next six years.

To request a sample copy or view summary of this report, click the link below:

http://www.grandviewresearch.com/industry-analysis/solar-tracker-industry

 

About Grand View Research

Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/

 

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Grand View Research, Inc

Phone: 1-415-349-0058

Email:  sales@grandviewresearch.com

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