Single Axis Solar PV Tracker Market Size & Share, Type (Horizontal Type, Vertical Type); Technology (Photovoltaic, Concentrated Solar Tracker); Application (Residential, Commercial, Utility) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

Growth Drivers

• The rapid increase in energy consumption in industrialization - Almost a third of the energy used internationally is focused on the industrial sector.  The recent levels of concern and ecological requirements give a massive opportunity for modification in terms of energy proficiency - encouraging a drastic change, the domination of a more renewable world that regards the environment.
  
  Industrial energy utilization is generally utilized for production, together with for lighting and other business implements in the manufacturing industries. Industrial generation makes up just over half of all international energy utilization and is projected to increase by an equivalent of 1.5% internationally each year through 2035.
  
  In multiple industry sectors like food, wine and beverages, textiles, transport tools, machinery, or pulp and paper, the share of heat requirement below 250 °C is almost 60% (Likelihood of Solar Heat for Industrial Processes). Solar heat can also be unified straight into industrial heat supply networks, either by heating air-tight water or by solar steam production. Moreover, solar air collectors can be utilized to preheat air for drying or burning, together with heat generation halls.
   
• High efficiency of solar energy - Solar panels are an outstanding way to generate free electricity. Thin film solar panels are made by encircling a substrate of glass, plastic, or metal with one or more thin layers of photovoltaic components. Thin film solar panels are generally pliable and low in weight. Moreover, there has been a rising awareness related to solar panel recycling across the globe.
  
  It is acknowledged that thin-film solar panels lower moderately quicker than mono and polycrystalline solar panels. Generation of these types of panels is less intricate, therefore their output is 5% less than monocrystalline solar panel effectiveness. Usually, thin film cells provide between 15-22% solar panel effectiveness.
   
• Solar energy is comparatively affordable - Energy costs can account for a substantial part of a manufacturer's functioning expenditures. By modifying energy effectiveness, manufacturers can limit energy consumption, lower energy costs, and modify their bottom line. In line with a report, the cost of solar energy will go on to fall and the single axis solar PV tracker market will grow even without government allowances and ecological initiatives. Solar energy production is now becoming economically practicable day by day. Solar costs have reduced by 90% in the last 20 years and are projected to fall by another 15% to 25% by 2030.

Challenges

• High maintenance cost - The yearly maintenance and recurring costs are almost trifling since there are no moving parts and the input fuel (sunlight) is costless. For optimal execution, the system only needs the cleaning of modules and primary hindrances and remedial management. However, for off-grid systems where batteries are utilized, the management costs are higher on account of battery substitution every 3-5 years. To confirm high production and low maintenance costs, daily supervision through data loggers is highly suggested. The management costs for smaller Solar PV systems are about 2% of the bigger system cost, and for bigger systems is about 1% of the beginning cost.
• Crisis of Skilled Technicians
• Limitation in Learning the System