Middle East and Africa – Solar Tracker Market.
ALBANY, New York, May 12, 2014 ( Solar Thermal Magazine ) – According to a new market report published by Transparency Market Research “Solar Tracker (Single Axis and Dual Axis) Market for Solar PV, CPV, CSP Technology in Utility and Non Utility Applications –Middle East and Africa (MEA)Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2019,” MEA solar tracker market was valued at USD 58.7 millionin 2012 and is expected to reach 308.7 million in 2019, growing at a CAGR of 31.9% from 2013 to 2019.
Unbalanced nature of energy demand accompanied by the fluctuating fuel prices is expected to bolster growth in MEA solar tracker market. Furthermore, increase in the efficiency of solar panels by the use of solar tracker is expected to augment the overall market growth. Government incentives schemes primarily structured for renewable sources of energy coupled with feed-in-tariff are likely to bolster the overall product demand. Key challenges faced by the market participants include high initialization cost and the impacts of harsh weather on the solar trackers are expected to curb market growth. However, growing development and product innovation is hopeful to overcome these challenges.
Key application analyzed in this market includes utility solar tracker and non-utility solar tracker. Utility solar tracker held a significant share in the overall market followed by the non-utility solar tracker application in 2012. Growing popularity of solar tracker is expected to boost the product demand over the forecast period. In terms of volume, the utility solar tracker application market is likely to grow at a CAGR 27.04% from 2013 to 2019.
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UAE dominated MEA solar tracker market in 2012, accounting for more than 84% market share in 2012. Rising demand for solar trackers attributed to overall market growth. South Africa and Saudi Arabia are expected to witness a surge in solar tracker market owing to increasing competition across the entire value chain resulting in the decline in the cost of solar PV. Key players in the market include Amonix, BrightSource Energy Inc., First Solar, Mecasolar, Soitec SA, SunEdison, SunPower Corporation, and Yingli Solar. The report provides an overview of these companies followed by their financial revenue, business strategies, and recent developments. The research analyzes and estimates the performance and market of solar tracker systems in the global scenario, providing detailed trend analysis of the market by geography and comprehensive analysis of companies that are dealing in solar tracker systems. The report presents a thorough assessment of the strategies followed by different stakeholders by segmenting the solar tracker market as below:
- MEA Solar Tracker Market: Application Analysis
MEA Solar Tracker Market: Product Segment Analysis
MEA Solar Tracker Market: Application Analysis
- Browse MEA Solar Tracker Market Report with Full TOC at http://www.transparencymarketresearch.com/mea-solar-tracker-market.html
- MEA Solar Tracker: Country Analysis
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Browse MEA Solar Tracker Market Report with Full TOC at http://www.transparencymarketresearch.com/mea-solar-tracker-market.html
SOURCE Transparency Market Research
ST Staff Writers
This post was prepared by Solar Thermal Magazine staff.