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Solar tracker is a product that aids in directing payloads towards the direction of sunlight. The payloads that are majorly used are parabolic troughs and solar panels. They improve the energy efficiency by aligning the payload in an angle incident to the sun’s direction. The potential market for the product lies in their increasing application in commercial applications.

The majority of CO2 emissions resulting from other sources of energy is increasing the importance of solar energy. Renewable energy has the potential to reduce the environmental problems being caused due to the usage of fossil fuels. The energy which is spent on the heating water can also be reduced with the use of solar energy.

The usage of trackers as an additional device could further improve the energy efficiency of the application in terms of quantity of energy received through the panels. The low maintenance cost of the product coupled with reduced electricity costs can improve the efficiency of solar panels.

The market has been segmented into two products: single axis and dual axis. Single axis trackers follow sunlight properly and the output received from them is close to full tracking. Dual axis trackers exhibit movement on two axes to point directly in the direction of the sun to take maximum advantage of the sun’s energy.

Shading resulting from surrounding trees, hills, and buildings forms an important aspect of consideration in the installation of the solar tracker. The reliability of tracker is still a major cause of concern for the solar installation manufacturers. The motors involved in the tracker run for a very small amount of time and the electronics involved is also simple, but as the product is in its initial phases of development there could be some setbacks.

The manufacturers are investing in major solar installation projects around the world to increase their geographical presence. The major strategy used by industry players is a rapid market expansion to gain maximum market share.

Companies such as Array Technologies and SunEdison are establishing subsidiaries in developing countries to be a part of the rapid renewable energy revolution taking place in these countries. It has been observed that developing countries are adding more than 2 GW of renewable energy every year. Countries such as China that have added around 10.6 GW in solar PV installation are expected to augment the demand.

In-depth report on global solar tracker market by Grand View Research: