Valued to be $4.5 Billion by 2026, Solar Trackers Slated for Robust Growth Worldwide

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Sep 21, 2021, 11:05 ET

SAN FRANCISCO, Sept. 21, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Solar Trackers - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 8; Released: April 2021
Executive Pool: 1103
Companies: 34 - Players covered include AllEarth Renewables, Inc.; Arctech Solar; Array Technologies, Inc.; Convert Italia; First Solar Inc.; GameChange Solar; Mecasolar EspaÃ±a SL; NClave; NEXTracker Inc.; PVHardware; Solar Steel; Soltec; STI Norland; Sun Action Tracker; SunPower Corporation and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Single-Axis, Dual-Axis); Application (Utility, Commercial, Residential)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Solar Trackers Market to Reach $4.5 Billion by 2026
Amid the COVID-19 crisis, the global market for Solar Trackers estimated at US$3.2 Billion in the year 2020, is projected to reach a revised size of US$4.5 Billion by 2026, growing at a CAGR of 5.6% over the analysis period. Single-Axis, one of the segments analyzed in the report, is projected to record a 5.8% CAGR and reach US$3.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Dual-Axis segment is readjusted to a revised 5.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $928.5 Million in 2021, While China is Forecast to Reach $926.3 Million by 2026
The Solar Trackers market in the U.S. is estimated at US$928.5 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$926.3 Million by the year 2026 trailing a CAGR of 8.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 5.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.