Amplified Demand for Solar Trackers to Boost Market Growth in Middle East and Africa
A solar tracker permits solar panels to follow the solar movement and amplify electricity generation by around 20% to 40%. The employment of solar trackers have positively impacted the revenue generated from the large solar power units, credited to which tracking systems are being more utilized in utility scale solar installations. Also, the solar tracker market is receiving immense attention owing to the increased focus on non renewable energy sources.
Browse the full Solar Tracker Market report at http://www.transparencymarketresearch.com/mea-solar-tracker-market.html
Unstable nature of the energy demand coupled with the irregular fuel prices is likely to bolster Middle East and Africa solar tracker markets. Feed-In Tariff initiatives are expected to encourage the usage of the solar power generation, which in turn will fuel the market growth in the near future. On the other hand, the high cost related to solar tracker installation and maintenance can limit growth of the Middle East and Africa solar tracker industries.
The solar tracker market in the Middle East and Africa amounted US$58.7 million in 2012. By 2019, the market is expected to generate US$308.7 million in total, developing at a 31.9% CAGR during the period from 2013 to 2019.
The markets for utility and non-utility applications are the key application markets for the solar tracker industry in the region. The utility solar tracker market dominated the overall industry in 2012. This trend is expected to continue over the next few years.
Single Axis Solar Trackers, CSP, and Utility Solar Power Generation: Future of Solar Tracker Market in Middle East and Africa
Single axis solar trackers are the most commonly utilized products in the global solar tracker industry accounting for more than 90% of the overall revenue generated by this market in 2012. The single axis product market is likely to lead the solar tracker market in Middle East and Africa in the coming years. The simplistic handling and lower cost has supported the single axis tracker market to sustain insistently in the previous years. The increased employment of these trackers coupled with the development in technology is the main factor encouraging growth of the solar tracker market in this region. However, these trackers are complicated assemblies and require maintenance on a regular basis.
Request for sample report http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2145
Solar PV was a dominant technology in 2012 owing to the simplicity of PV cells, which are also compatible with the standard PV module technologies. CPV is likely to register the fastest growth in the market based on the technology used. The increase in the demand for accurate tracking and capturing of maximum solar energy in facilities is likely to trigger the demand for CPV technology in the coming years. CSP is an emergent technology and is expected to dominate the market in near future.
In 2012, the solar tracker market in the Middle East was headed by UAE. The country accounted for over 84% share of this market. The increase in the competition over the entire value chain is resulting in the decline in the solar PV prices. It is in turn expected to provide momentum to the solar tracker market in Saudi Arabia as well as South Africa.
The solar tracker market in the Middle East and Africa is highly fragmented. However, some of the enterprises in this market have succeeded in sustaining their brand equity over the past couple of years owing to their global presence.
The major participant operating in the solar tracking market in the Middle East and Africa are SunPower Corporation, Soitec SA, SunEdison, Abengoa Solar, Yingli Solar, First Solar, Qbotix, BrightSource Energy Inc., Haosolar Co. Ltd., Amonix Inc., Energia Ercam, and Mecasolar.
In 2010, Haosolar qualified emerged as the biggest producer of solar tracker accounting for about 23% share of the overall market on the basis of the annual installed capacity. Subsequent were Abengoa Solar and SunPower at second and third position, respectively. At present, Qbotix has become popular following the launch of innovative robotic devices, which help in the maintenance of the solar trackers throughout operation.
Browse Press Release Of Solar Tracker Market http://www.transparencymarketresearch.com/pressrelease/mea-solar-tracker-market.htm
Other prominent players in this market are Frontier Technology Group Ltd., Solar FlexRack, Ecosun Ltd., AllEarth Renewables Inc., Array Technologies Inc., and Titan Tracker Inc.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
90 State Street, Suite 700
Albany, NY 12207
USA – Canada Toll Free: 866-552-3453