In a new report, GTM Research finds that never before has the global tracker market seen installations at this scale and such consistent growth.
According to the The Global PV Tracker Landscape 2016: Prices, Forecasts, Market Shares and Vendor Profiles, by the end of 2016, 23% of ground-mount PV systems around the world will employ trackers. GTM Research expects that number to grow to 49% by 2021, when annual tracker installations will value $4.9 billion.
Source: GTM Research
The United States will remain the leading market for trackers through 2021, the report finds, but stresses that China and India will experience the most significant growth. Trackers in China and India currently make up only a respective 6% and 7% of ground mount installations. Declining costs and improved technology and investor sentiment will contribute to growth in these markets, the report adds.
In its study, GTM Research profiles such leading companies as Array Technologies, Convert Italia, Exosun, GameChange Solar, Grupo Clavijo, Ideamatec and NEXTracker. It also looks at Optimum Tracker, Soltec, STi Norland, Sun Action Trackers, SunLink and Solar FlexRack.