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MEA Solar Tracker Market to Register Remarkable 31.9% CAGR by 2019

Press Release

Solar trackers are the devices used to adjust photovoltaic panels toward the sun to utilize more sunlight. They enable solar modules to remain in the best position to accumulate maximum energy from the sun. The application of tracking technology allows solar panels to follow the movement of the sun and increase electricity production as compared to a stationary array. Solar trackers are attached to solar panels to adjust their positioning against the daily passage of the sun throughout the year as the weather and seasons change.

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Solar tracker comprises of several parts including sun tracking algorithm, control unit, positioning system, drive mechanism system, sensing devices, wind guard, tubes, and rods. Growing demand for energy supplemented by fluctuating fuel oil prices, increase in efficiency of solar panels by the use of solar trackers and increased product demand are expected to bolster the overall solar tracker market growth. Government incentive for the use of renewable energy sources as a mode of power generation and feed-in-tariffs is also likely to attribute to drive the market growth in the coming years. Impacts of harsh weather on the solar trackers coupled with the high initialization costs are some of the factor that is likely to constrain the market growth. However, upcoming advanced techniques are estimated to overshadow the restraints in the coming two to four years.

Single axis tracking technique is expected to dominate the MEA market over the coming years. Simplicity and lesser cost has helped single axis tracker sustain relentlessly over the past couple of years. Dual axis tracker incurred high maintenance costs which led to their dampened market growth. Growing demand for renewable energy sources in the countries across MEA is estimated to generate substantial demand for solar energy which in turn is likely to fuel market growth in the next two to five years.

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The market comprises of key application including utility and non-utility. Solar tracker system market was dominated in 2012 by utility solar tracker that is likely to continue over the forecast period. Solar PV directly converts solar energy into electricity using a PV cell made of semiconductor material. Concentrated photovoltaic (CPV) technology uses optics such as lenses and curved mirrors to concentrate large amount of sunlight onto a small area of solar photovoltaic cells to generate electricity. These technologies are used in a wide range of applications including utility and non utility (residential and commercial).

Solar PV directly converts solar energy into electricity using a PV cell made of semiconductor material. Concentrated photovoltaic (CPV) technology uses optics such as lenses and curved mirrors to concentrate large amount of sunlight onto a small area of solar photovoltaic cells to generate electricity. Solar tracker market was dominated in 2012 by solar PV. CSP is expected to be an emerging technology and is likely to dominate over the forecast period.

UAE dominated the market in 2012 and accounted for more than 80% of the MEA’s annual solar tracker revenue. It was followed by South Africa which faces squeezed growth rate due to unrealized potential of renewable energy sources. Saudi Arabia was one the niche markets; however, enactment of several renewable programs by the government is expected to augment the market growth over the next two years. 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. Growing popularity and rising competition across the value chain across MEA is likely to augment market growth, which in turn is expected to fuel overall product demand significantly in coming years.

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Soitec SA is one of the leading players of MEA solar tracker market that held substantial market share in 2012. The agreement with Khaled Juffali Company to cooperate in driving solar industry growth in Saudi Arabia and the Middle East has aided in reinforcing their position in the MEA market. Rising demand and growing popularity of solar tracker in the region has helped solar tracker suppliers proliferate significantly over the recent years.

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