Dual Axis Type Solar Collector Market 2017-2022 / Growth, Emerging Trends And Forecast

(MENAFN- America News Hour) The global dual-axis type of solar collector market size, in terms of value, was USD XXbillion in 2016 and is projected to grow up to USD XX billion by the year 2020, at a healthy CAGR of 15%. The solar tracker industry can be divided into two parts on the basis of product, i.e. single axis and dual axis. Dual axis solar collectors are intregated with solar panels and therefore it helps in the enhancement of power generation efficiency over a XX per cent to XX per cent when compared to the fixed array type of solar collector.
These collectors enable dual degree freedom which aids in the axis of rotation. It involves two axis- primary axis, which is fixed to the ground and the other one is called secondary axis, which is used in reference with the primary axis.
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Market Dynamics
The dual axis type of solar collector is projected to be the fastest growing segment as these devices offer a highly efficient mechanism. The growth in adoption of thedual-axis type of solar collectors is estimated to increase as more people are now aware about the harmful effects of global warming and greenhouse gas emissions. The factors such as rising prices of conventional energy, concerns over supply of energy in future, renewable energy certificates and support of government are fuelling the demand for the concentrated solar collectors.
However, the huge cost of electricity generation hinders the growth of the dual-axis type of solar collector market. Due to lack of advanced technology, the power generation is at nascent stage.
Market Segmentation
The global dual-axis type of solar collectors' market is segmented on the basis of product type, application and technology. By type, market can be segmented into low temperature collectors, medium temperature collectors and high temperature collectors.By application, market can be segmented into commercial, institutional, residential and industrial.
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Geographical Analysis
The market is segmented into North America, Western Europe, Eastern Europe, China, Southeast Asia, Japan and India. Asia Pacific is expected to witness significant gains due to the growing awareness about these trackers. Also, demand is growing owing to increasing electricity demands from China and India.North America will also witness substantial gains subjected to regulatory norms in the forecast period.
Key Players
Some of the key players in the market includes AllEarth Renewables, First Solar, EnergiaErcam,DEGERenergie, GrupoClavijo, Mecasolar, Titan Tracker, Hao, Mechatron, SmartTrak, PV Powerway, Array Technologies, Soitecand SunPower.
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