Solar Trackers Market Research, Share, Trend, Price, Future Analysis, Regional Outlook

Category: Business

Solar Trackers Market: Introduction According to a recently published study by Transparency Market Research (TMR), the global solar trackers market is expected to reach an installed capacity of 37,196.86 MW by 2031. TMR, a U.S.-based market research firm, states in its report that the global solar trackers market, which had an annual installed capacity of 6998.8 MW in 2020, is anticipated to reach an annual installed capacity of 37,196.86 MW by 2031, at a CAGR of 16.4% during the forecast period. According to the report, the market for solar trackers is stimulated by the increase in demand for photovoltaic (PV), rise in feed-in tariff (FIT), and incentive schemes by governments. In addition, growth in prices of electricity is augmenting the photovoltaic market, which is further fuelling the solar trackers market.