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Global solar tracker market revenue concentrated in the Spanish and US markets
Global Solar Tracker Market 2014-2018 - a new market research report on 2014-04-30 07:23:01
The demand for renewable energy sources is aiding the growth of the global solar tracker market. The key leading countries in the global solar tracker market include Spain and the United States.

The growth of the global solar tracker market is due to increasing demand for renewable energy sources around the globe. Market growth is also dependent on the cost-effectiveness of the solar tracker industry, as well as technological advancements in the field. Moreover, many vendors are investing a huge amount of funds in R&D activities to develop better technology and increase the durability and reliability of solar trackers for use in high-capacity projects. More solar energy consumption as well as the benefits associated with solar trackers, and government support for renewable energy projects like solar energy, all represent major factors propelling the growth of the market.

The global solar tracker market is forecast to grow at a CAGR of 15.8 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing CUF of solar power plants. The Global Solar Tracker market has also been witnessing the increasing investment in the market. However, the high maintenance cost could pose a challenge to the growth of this market.

The main vendors operating in the market include Abengoa Solar Inc., Array Technologies Inc., Amonix Inc., AllEarth Renewables, Bombard Electric, LLC, DEGERenergie GmbH, Frontier Technology Group Ltd, HelioPower Inc., Heliotrack LLC, Haosolar Co. Ltd, Lauritzen Inc., SmartTrak, Soitec SA, SolarTec USA, Solar FlexRack, Titan Tracker Inc., Trabant Solar, and Van der Valk Solar Systems BV.

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