Global Solar Trackers Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Solar Trackers Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Solar trackers Trackers direct solar panels or modules toward the sun.

Market Overview:

The latest research study on the global Solar Trackers market finds that the global Solar Trackers market reached a value of USD 3262.31 million in 2022. It’s expected that the market will achieve USD 7676.77 million by 2028, exhibiting a CAGR of 15.33% during the forecast period.

Low cost of solar power generation

Compared to the higher cost of diesel power, coupled with the high freight costs, solar power is no doubt more cost-effective. Solar power plants do not wear out, much longer than the life cycle of diesel generators, and the increased demand for solar equipment also drives the demand for solar trackers.

Affected by climate and environmental factors

The energy of solar power is directly from the sunlight, and the sun on the surface of the earth is greatly affected by the climate. Long-term changes in rain, snow, cloudy, foggy days and even clouds will seriously affect the solar trackers work. In addition, the influence of environmental factors is also very large. The more prominent point is that particles (such as dust) in the air sink on the surface of the solar tracker component, blocking part of the light, which causes the conversion efficiency of the battery assembly to decrease. This causes a reduction in power generation and even damage to the panels.

Strong government support

With environmental pollution, lack of resources, the government attaches importance to sustainable development, paying attention to the solar industry to achieve high-scale economy and low cost.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview:

NEXTracker is one of the major players operating in the Solar Trackers market, holding a share of 32.34% in 2022.

NEXTracker

NEXTracker Inc. designs and manufactures single axis photovoltaic trackers for ground-mounted solar power plants. The company offers NEXTrackerSPT, a horizontal single-axis balanced-mass self-powered tracker with independently-driven rows that eliminate external AC power source systems, wiring, and associated trenching. It also provides TrueCapture, a self-adjusting tracker control system for solar power plants that refines the tracking algorithm of each individual solar array in response to existing site and weather conditions. In addition, the company offers NEXTracker Energy Storage Solutions, such as NX Drive, a standardized battery enclosure system for generation-plus-storage.

Array Technologies

Array Technologies, Inc. designs, manufactures, supplies, and installs solar tracking systems for utilities, corporations, small businesses, and homeowners. The company offers DuraTrack HZ Webinar single axis solar trackers, and DuraTrack HZ v3 solar trackers for utility-scale solar projects; DuraTrack HZ v2.5 solar trackers that help schools, businesses, and government buildings create and consume clean energy; and DuraTrack DA dual axis solar trackers, and DuraTrack HZLA single-axis solar trackers for residential applications. Its products are available through a network of dealers and installers in the United States and internationally.

Segmentation Overview:

By type, Single Axis Solar Trackers segment accounted for the largest share of market in 2021.

Single Axis Solar Trackers

Single-axis solar trackers rotate on one axis moving back and forth in a single direction.

Dual Axis Solar Trackers

Dual-axis tracking is typically used to orient a mirror and redirect sunlight along a fixed axis towards a stationary receiver.

Application Overview:

By application, the Public Utility segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Solar Trackers market covered in Chapter 3:

Exosun
STi Norland
Scorpius Trackers
NEXTracker
First Solar
Array Technologies
Solar Steel
Sun Action Trackers
NClave
Soltec
Ideematec
Grupo Clavijo
Arctech Solar
PV Hardware
SunLink
Mahindra Susten
SunPower
Convert Italia

In Chapter 4 and Chapter 14.2, on the basis of types, the Solar Trackers market from 2018 to 2029 is primarily split into:

Single Axis Solar Trackers
Dual Axis Solar Trackers

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Solar Trackers market from 2018 to 2029 covers:

Public Utility
Non-Public Utility

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)