Global Solar PV Tracker Market Growth 2024-2030

Global Solar PV Tracker Market Growth 2024-2030

A solar photovoltaic (PV) tracker is a device that orients solar panels or heliostats toward the Sun. A solar PV tracker is used in solar panels, heliostats, and parabolic troughs to align them in such a position toward the sun so as to collect solar energy in the most optimal angle, thereby increasing the efficiency of PV systems. Fixed-mounted solar panels may lose their efficiency when the Sun passes to the less than optimal angle. A solar tracker system tracks the position of the Sun and moves solar panels such that they align accurately with the position of the Sun.

The global Solar PV Tracker market size is projected to grow from US$ million in 2023 to US$ million in 2030; it is expected to grow at a CAGR of % from 2024 to 2030.

LP Information, Inc. (LPI) ' newest research report, the “Solar PV Tracker Industry Forecast” looks at past sales and reviews total world Solar PV Tracker sales in 2023, providing a comprehensive analysis by region and market sector of projected Solar PV Tracker sales for 2024 through 2030. With Solar PV Tracker sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Solar PV Tracker industry.

This Insight Report provides a comprehensive analysis of the global Solar PV Tracker landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Solar PV Tracker portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Solar PV Tracker market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Solar PV Tracker and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Solar PV Tracker.

China has implemented the Renewable Energy Law since 2006, in which Article 4 clearly states that, the State gives first priority to the exploration of renewable energy. Over the years, various departments of the Chinese government have successively issued a large number of policies, covering production, sales, taxation, subsidies and other aspects. After setting the carbon neutrality goal in 2021, from a national perspective, the upgrading of the energy structure is ever imperative, and therefore the optoelectronic industry has great potential. The European Commission released the Net-Zero Industry Act in 2023. This bill aims to stimulate local manufacturing in Europe, reduce import dependence on China, and ensure that at least 40% of the EU's clean energy demand can be met by 2030. The EU targets an installed solar capacity of 600 GW. Overall, the European market still has a lot of room for development. US 2022 release of the Inflation Reduction Act, which includes $369 billion for energy security and climate change investments. For the photovoltaic industry, the bill stimulates its development from multiple aspects such as corporate and individual tax credits, production subsidies, and loans throughout the industry chain, and revitalizes the domestic manufacturing industry in the United States. Japanese authorities plan to make solar panels mandatory for new residential buildings in Tokyo from 2025 onwards. It is estimated that by 2030, photovoltaic power generation will account for 14%-16% of Japan's total power generation, and the cumulative installed capacity of photovoltaic systems will be about 117.105 GW.

This report presents a comprehensive overview, market shares, and growth opportunities of Solar PV Tracker market by product type, application, key manufacturers and key regions and countries.

Segmentation by type
Single Axis Tracker
Dual Axis Tracker

Segmentation by application
Utility
Commercial & Industrial
Residential

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Arctech
Array Technologies
Convert Italia
First Solar
NEXTracker
Abengoa
AllEarth Renewables
Edisun Microgrids
Exosun
GameChange Solar
Haosolar
Mahindra Susten
Scorpius Trackers
Solar FlexRack
Soltec
Sun Action Trackers
SunLink
SunPower

Key Questions Addressed in this Report

What is the 10-year outlook for the global Solar PV Tracker market?

What factors are driving Solar PV Tracker market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Solar PV Tracker market opportunities vary by end market size?

How does Solar PV Tracker break out type, application?

Please note: The report will take approximately 2 business days to prepare and deliver.