According to a new market report published by Transparency Market Research, global solar tracker annual installed capacity was nearly 1.19 GW in 2010 and is estimated to approach 7 GW per year in 2020.
Increasing use of photovoltaics is enhancing the demand for solar tracker to increase the efficiency of solar arrays. Single-axis trackers have dominated and account for 94% of the market in 2010., the report says. Utility applications are expected to account for the majority of tracker installations by 2020.
According to Transparency Market Research, Europe has led the global solar tracker market in terms of annual installations, accounting for 62.47% of the overall market in 2010. Spain, Italy, Germany and Greece – the key regional markets in Europe – are expected to experience a surge in solar tracker demand owing to a favorable regulatory scenario, huge subsidies and high potential. In North America, annual solar tracker market installations are estimated to approach 2.17 GW in 2020. The Latin America solar tracker market is expected to reach 1.74 GW in 2020.