Dual Axis Solar Trackers

Dual Axis Solar Trackers

Global Dual Axis Solar Trackers Market to Reach US$17.9 Billion by 2030

The global market for Dual Axis Solar Trackers estimated at US$6.8 Billion in the year 2023, is expected to reach US$17.9 Billion by 2030, growing at a CAGR of 14.8% over the analysis period 2023-2030. Utility Application, one of the segments analyzed in the report, is expected to record a 15.0% CAGR and reach US$14.8 Billion by the end of the analysis period. Growth in the Non-Utility Application segment is estimated at 13.7% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.3 Billion While China is Forecast to Grow at 18.4% CAGR

The Dual Axis Solar Trackers market in the U.S. is estimated at US$1.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.6 Billion by the year 2030 trailing a CAGR of 18.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 11.5% and 12.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.5% CAGR.

Global Dual Axis Solar Trackers Market - Key Trends & Drivers Summarized

Dual axis solar trackers represent a sophisticated technology in the solar energy sector, designed to maximize the efficiency and energy output of photovoltaic (PV) panels. Unlike single axis trackers that follow the sun’s path from east to west, dual axis trackers also adjust the tilt angle of the panels, enabling them to follow the sun’s trajectory across both the horizontal and vertical planes. This capability allows dual axis trackers to capture the maximum possible sunlight throughout the day and across different seasons, leading to a significant increase in energy production compared to fixed-tilt systems. These systems are particularly beneficial in areas with high solar insolation and are often used in large-scale solar power plants, where the additional energy yield can justify the higher initial investment and maintenance costs.

Technological advancements have further enhanced the efficiency and reliability of dual axis solar trackers. Modern systems incorporate sophisticated sensors and control algorithms to optimize the tracking precision, ensuring that the panels are always positioned at the optimal angle to the sun. The integration of GPS technology and machine learning algorithms allows these trackers to adapt to changing environmental conditions and predict the sun’s position with high accuracy. Additionally, improvements in materials and design have increased the durability and lifespan of these systems, reducing the overall maintenance requirements. The use of wireless communication and remote monitoring systems also enables operators to manage and troubleshoot the trackers more efficiently, enhancing the operational efficiency and reducing downtime.

The growth in the dual axis solar tracker market is driven by several factors. Firstly, the increasing demand for renewable energy sources and the global push towards reducing carbon emissions have spurred investments in solar power, creating a robust market for advanced tracking systems. Secondly, the continuous decline in the cost of solar PV panels and the improvement in tracker technology have made dual axis trackers more economically viable, encouraging their adoption in both utility-scale and distributed solar installations. Thirdly, government incentives and supportive policies for renewable energy projects are playing a crucial role in promoting the use of dual axis trackers. Additionally, the growing awareness of the long-term financial benefits of increased energy yield and higher return on investment is driving demand. Furthermore, the rising focus on energy efficiency and the need to optimize land use in solar installations, particularly in regions with limited space, are also contributing to the market expansion. Together, these factors are creating a favorable environment for the growth and development of the dual axis solar tracker market, presenting significant opportunities for innovation and adoption.

Select Competitors (Total 78 Featured) -

• Soitec
• First Solar, Inc.
• Trina Solar Co. Ltd.
• Reutech Radar Systems
• Targray Technology International Inc.
• AllEarth Renewables
• DEGERenergie GmbH & Co. KG
• Energia Ercam S.A.
• Haosolar Co. Ltd
• Mecasolar (Mecanizados Solares S.L.)
• NEXTracker, Inc.
• SunTactics
• Kirchner Solar Group GmbH

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