Transparency Market Research has published a new report on the Middle East and Africa solar tracker market. The rising energy demand and the growing use of renewable sources of energy to generate power are the major factors driving the MEA market, state the analysts. As per the report, the Middle East and Africa solar tracker market stood at US$58.7 mn in 2012. The report, titled ‘Solar Tracker Market - Middle East and Africa (MEA) Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2019,’ states that the MEA market is predicted to expand at a whooping 31.90% CAGR from 2013 to 2019 to reach US$308.7 mn by 2019.
Solar trackers adjust the photovoltaic panels by directing them towards the sun to capture maximum sunlight. Sun tracking algorithm, positioning system, control unit, sensing devices, tubes, rods, wind guard, and drive mechanism system are the major parts of a solar tracker. Of late, the Middle East and Africa region has been leading the production of solar trackers with many prominent players based in the region.
The improvements in solar tracking systems, the introduction of government incentive schemes, and feed-in-tariffs (FIT) are expected to drive the Middle East and Africa solar tracker market in the near future. However, the Middle East and Africa solar tracker market has faced many challenges due to harsh weather conditions in some regions of South Africa and the UAE. The high initial capital for installing solar trackers is also a major problem and is expected to hamper the growth of the MEA solar tracker market in the near future.
Over the past few years, the MEA solar tracker market has been benefited by the increasing installation of single axis and dual axis solar trackers. Low cost and simplicity are expected to allow the single axis solar trackers segment to maintain its dominance in the years to come. On the flip side, the high cost of maintenance of duel axis solar trackers will restrict the growth of this segment.
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The Middle East and Africa solar tracker market is segmented on the basis of geography, application, product, and technology. Utility and non-utility are the two application segments of solar trackers. Currently, the utility segment holds the largest share in the Middle East and Africa solar tracker market. Based on geography, the MEA solar tracker market is spread across the UAE, South Africa, and Saudi Arabia. In 2012, the UAE accounted for a massive share of 80% in the Middle East and Africa solar tracker market. A few years down the line, South Africa is expected to be the most profitable market for solar trackers. However, South Africa needs to increase its investment in solar trackers and focus on research and development activities to maintain its growth in the near future.
In the recent past, technologies such as solar photovoltaics (PV), concentrating solar power (CSP), and concentrated photovoltaics (CVP) have grown significantly in the MEA solar tracker market. However, the solar PV segment is expected to surpass other segments and maintain its dominance throughout the forecast period.
In terms of the introduction of new solar trackers, players such as Soitec SA, Mecasolar, SunEdison, First Solar, Yingli Solar, Amonix Inc., BrightSource Energy Inc., and SunPower Corporation are displaying spectacular performance in the Middle East and Africa solar tracker market.
Key Segments of Middle East and Africa Solar Tracker Market
MEA Solar Tracker Market: Application Analysis
- Utility
- Non-utility
MEA Solar Tracker Market: Product Segment Analysis
- Single Axis
- Dual Axis
MEA Solar Tracker Market: Application Analysis
- Solar PV
- CPV
- CSP
MEA Solar Tracker: Country Analysis
Middle East
- Saudi Arabia
- UAE
Africa
- South Africa
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