Global Solar PV Tracking System Market Growth 2023-2029

Global Solar PV Tracking System Market Growth 2023-2029

According to our LPI (LP Information) latest study, the global Solar PV Tracking System market size was valued at US$ million in 2022. With growing demand in downstream market, the Solar PV Tracking System is forecast to a readjusted size of US$ million by 2029 with a CAGR of % during review period.

The research report highlights the growth potential of the global Solar PV Tracking System market. Solar PV Tracking System are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Solar PV Tracking System. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Solar PV Tracking System market.

Solar PV Tracking Systems are special brackets designed for placing, installing, and fixing solar panels in solar power generation systems. In the cost structure of the entire photovoltaic power generation system, the cost of brackets accounts for approximately 16.3% of the investment cost of the power station, and has a negative impact on the life of the photovoltaic power generation system. and power generation efficiency have an important impact. Photovoltaic brackets can be divided into tracking brackets and fixed brackets. The tracking bracket can adjust its angle as the incident angle of the sun changes. Compared with the fixed bracket, it can usually achieve a power generation gain of 5%-35%.

In some large-scale ground power stations, tracking brackets have better economics. Using tracking brackets instead of fixed brackets can harvest higher projects through the increase in power generation.

In order to achieve the zero-carbon goal, the pace of global energy transformation is accelerating. At present, more than 130 countries and regions around the world have successively announced carbon neutrality goals and established an energy system dominated by renewable energy. It has become a global consensus to achieve green and sustainable development. , against the background of the global increase in the proportion of renewable energy consumption, the world's new wind and solar installed capacity will continue to grow rapidly.

According to data released by Wang Bohua, chairman of the Photovoltaic Annual Conference, it is expected that the global newly installed photovoltaic capacity will be 150-170GW in 2021, and will continue to maintain an average annual growth of 30-40GW in the next few years. It is expected that the new global installed capacity in 2025 will Reaching 270-330GW, the compound increase of new installed capacity

The speed is about 17%. The growth of photovoltaic installed capacity drives the demand for brackets to grow.

Key Features:

The report on Solar PV Tracking System market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the Solar PV Tracking System market. It may include historical data, market segmentation by Type (e.g., Flat Single-axis Tracking Bracket, Oblique Single-axis Tracking Bracket), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Solar PV Tracking System market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the Solar PV Tracking System market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the Solar PV Tracking System industry. This include advancements in Solar PV Tracking System technology, Solar PV Tracking System new entrants, Solar PV Tracking System new investment, and other innovations that are shaping the future of Solar PV Tracking System.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Solar PV Tracking System market. It includes factors influencing customer ' purchasing decisions, preferences for Solar PV Tracking System product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Solar PV Tracking System market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Solar PV Tracking System market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Solar PV Tracking System market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Solar PV Tracking System industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Solar PV Tracking System market.

Market Segmentation:

Solar PV Tracking System market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Segmentation by type
Flat Single-axis Tracking Bracket
Oblique Single-axis Tracking Bracket
Dual-axis Tracking Bracket

Segmentation by application
Utility
Non-Utility

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.
NEXTracker
Array Technologies
PV Hardware
GameChange Solar
Soltec
Arctech Solar
Valmont Solar
DEGER Energie
Ideematec
Trina Solar
Mechatron Solar
Haosolar

Key Questions Addressed in this Report

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

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

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

How do Solar PV Tracking System market opportunities vary by end market size?

How does Solar PV Tracking System break out type, application?

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