IHS: Global single-axis tracker revenues to reach $2 billion in 2019

Market research group IHS predicts global single-axis tracker revenues to grow 120% in the next four years, reaching nearly $2 billion in 2019.
“For the first time, single-axis trackers will be the preferred type of structural balance of system (BoS) ground mount in the Americas in 2015,” IHS said. The company added that global ground-mounted PV installations would increase an average of 7% a year, reaching 33 GW in 2019, with utility-scale installations accounting for 73% of the total.
“The United States leads growth in the single-axis tracker market,” said Cormac Gilligan, IHS’ senior solar supply chain analyst. “Chile, Mexico and other emerging markets that have high irradiation are also favoring single-axis trackers, especially as prices have fallen rapidly in recent years.”
According to IHS’ PV Balance of System Equipment – 2015 report, fixed-tilt structures will dominate the global market for ground-mounted structural BoS, making up 67% of total installations. The company predicts single-axis tracker installations will provide just over 9 GW in 2019, driven mainly by the growth of utility-scale installations.
The United States will be the largest global market for single-axis trackers in 2019, accounting for 36% of all global installations. China and India are forecast to rank second and third, comprising almost 2 GW of single-axis tracker installations in 2019.
In the United States, Sunpower, First Solar and other leading engineering, procurement and construction (EPC) companies — along with Nextracker, Clavijo and other pure-play suppliers — are currently promoting single-axis trackers in large utility-scale installations, according to the report. “When single-axis trackers are installed in high irradiation locations, the additional energy yield means that customers can generate a higher return on investment,” Gilligan said.