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Solar Tracker Market size forecast to reach USD 7.54 billion by 2023, with growth expectation of 12% CAGR from 2016 to 2

Solar tracker market size was calculated at 8.8 GW in 2015, as per the latest research report by Global Market Insights, Inc. Growth in energy conservation techniques coupled with preference for renewable power generation sources may boost industry demand.

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Solar Tracker Market size forecast to reach USD 7.54 billion by 2023, with growth expectation of 12% CAGR from 2016 to 2

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  1. Solar Tracker Market size forecast to reach USD 7.54 billion by 2023: Global Market Insights Inc. Fuel Cell Market size worth $25.5bn by 2024

  2. Key Insights from Solar Tracker Market : • Global solar tracker market size is set to reach 29.5 GW by 2023, with estimated gains at 16.4% up to 2023. •  APAC, led by China, India, & Japan, was the leading regional industry with overall installations close to 2 GW in 2015. • Concentrated solar power (CSP) technology in China may grow significantly at close to 24% CAGR and may reach over 550 MW by 2023. • North America, driven by the U.S. solar tracker market size, expects installations at over 8.5 GW by 2023. Dual axis tracking systems in the U.S. may witness sizable gains at 18.0% CAGR up to 2023. • Utility application in Spain is forecast to grow at over 12.8% CAGR and reach close to 1.2 GW by 2023.

  3. Continued... • Global solar tracker market share is moderately fragmented with top four companies catering to over 40% of the demand with numerous regional participants having regional presence. Wuxi Hao Solar, GrupoCalvijo, Abengoa, and SunPower are notable industry players. • Other prominent market participants include AllEarthRenewables, Array Technologies, Titan Tracker, EnergiaErcam, and Soitec.

  4. India Solar Tracker Market Size, By Product, 2013-2023 (USD Million)

  5. Browse Full Market Research Report On Solar Tracker Market @ https://www.gminsights.com/industry-analysis/solar-tracker-market Request for a Sample of this Research Report @ https://www.gminsights.com/request-sample/detail/364

  6. 360° Analysis • Application Analysis • Solar PV technology has been one of the fastest growing renewable energy sources over the last five years. These systems are employed in residential, commercial, and utility applications on account of various factors including decreasing cost and high efficiency. • Regional Analysis • Western developed economies dominate the industry at present, owing to evolved energy policies and strong awareness levels. Europe, with Germany and Spain solar tracker market share leading the way, is likely to achieve 7,210.2 MW installed capacity by 2023. • U.S. solar tracker market size should reach 3,229.8 MW installed capacity by 2023. APAC, MEA and Latin America are relatively under developed regional markets and should offer significant potential for industry participants. • Competitive Market Share • With a number of regional participants with domestic presence, the global solar tracker market share is moderately fragmented, with just over 40% commanded by the top four players. • Hao solar, Abengoa, GrupoCalvijo, Mecasolar, SunPowerEnergia and PV Powerway are some widely known industry participants, catering to a significant chunk of demand in 2015.

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