North American Solar Tracker Market size is expected to surpass USD 3.1 billion by 2027, according to a latest forecast report by Graphical Research.
The North America industry growth is on account of governmental efforts to retrofit the existing grid networks with renewable power networks across the region. Solar tracker is a device which adjust solar panel position according to sun’s direction. Burgeoning innovation activities and R&D activities to develop innovative large-scale solar energy units and will further escalate the market growth over the business landscape.
Single axis solar tracker segment will witness a positive momentum over the projected timeframe on account of mini-grids networks and low-cost installation. Low investment and government subsidy for residential consumers, will thrust the product penetration. Moreover, ongoing governmental efforts to reduce the GHG emissions and surging investments by private players across the industry, will further boost the market growth.
The PV based solar tracker segment is anticipated to observe a substantial growth in the coming years owing to real time power procurement of solar energy coupled with low per unit electricity cost. The demand for these trackers has observed significant surge owing to its, longer lifespan, lower cost and high reliability index. Furthermore, rising consumer awareness toward sustainable technology and flexibility with peak power supply will further improve the industry size.
Browse detailed statistical insights from the report, “North America Solar Tracker Market Forecast 2027 By Technology (PV, CSP), By Products (Single Axis, Dual Axis), By Application (Residential, Commercial, Utilities), Research Report, Country Outlook (U.S., Canada, Mexico), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The commercial segment to see massive growth during the forecast timeline due to zero-emission targets. Increasing corporate social responsibility expenditure and rising electricity requirement will lead to consistent demand among different commercial applications One such project is, Indiana ‘s Mammoth Solar Projectto, to be commissioned by 2024, which will be built by a consortium formed by Doral Renewables LLC and will be the largest one built in North America.
U.S., a major energy intensive country with high population, has seen huge investment in solar tracker industry over the years. Higher efficiency and simple mechanism are the imperative factors which will complement the industry outlook. According to U.S Energy Information Administration (EIA)., renewable energy sources account for approximately 20% of country’s electricity matrix. Earlier in 2020 Ernst & Young Renewable Energy Country Attractiveness Index (RECAI) rankings of U.S. topped the index, showing the attractiveness of the country’s renewable energy investment, which will complement the product penetration in the nation.
The solar tracker in North American market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
North America Market, By Product
North America Market, By Technology
North America Market, By Application
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