Global Solar Tracker Market Size study & Forecast, by Type (Photovoltaic (PV), Concentrated Solar Power (CSP)) by Movement (Single Axis, Dual Axis), by Application (Utility, Non-utility) and Regional Analysis, 2023-2030

Description

List of Tables

Global Solar Tracker Market is valued approximately USD 6.94 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 13.9% over the forecast period 2023-2030. A solar tracker is a device that orients solar panels or solar reflectors toward the sun. Its primary function is to maximize the absorption of solar energy by keeping the solar panels aligned with the sun's position throughout the day. By tracking the sun's movement, solar trackers can significantly increase the efficiency and output of solar energy systems. The Solar Tracker market is expanding because of factors such as increasing government green energy targets and growing adoption of renewable sources for power generation.

Global adoption of renewable energy sources like solar power has expanded as a result of the ambitious aims and goals established by governments throughout the world to transition to green energy, abandon fossil fuels, and reduce carbon emissions resulting in market growth. The adoption of renewable energy is progressing quickly owing to initiatives like Dubai's clean energy strategy 2050, the Federal Climate Change Act's 2021 aim of achieving greenhouse gas neutrality by 2045, and North America's 2025 target of having 50% of electricity generated from renewable sources. Furthermore, according to the International Energy Agency (IEA) Renewable 2021 Market Report, it is anticipated that renewables would contribute nearly 95% of the growth in global power capacity by 2026, with solar PV accounting for more than half of capacity. In addition, rising solar photovoltaic installations projects and integrating software technologies in solar tracker is creating a lucrative opportunity to the market growth. However, high initial investment cost stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Solar Tracker Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of key market players, rising solar panel installations projects, government investment in green energy project, and rising development of software in the region. Whereas, Asia Pacific is projected to registered the fastest growth owing to factors such as rising installation of solar panels, rising number of green energy projects, rising photovoltaic plants, and government investment in the renewable energy projects in the region.

Major market player included in this report are:

Abengoa Solar S.A.
AllEarth Renewables
Array Technologies Inc.
DEGERenergie GmbH & Co. KG
Nclave
Powerway Renewable Energy Co. Ltd.
Soltec Tracker
SunPower Corporation
Titan Tracker
Trina Solar Limited

Recent Developments in the Market:

In April 2023, Nextracker Inc. intends to increase India's capacity for producing solar trackers by half, to 10 gigawatts. Under the production-linked incentives programme, they will produce the semiconductors, and all of the goods will be made locally. At least 7-8 GW of projects every year will have trackers, according to the company, in order to meet India's goal of 500 GW of renewable power by 2030.
In April 2022, The Gemini solar project has contracted with Array Technologies, Inc. to receive 1 GW of DuraTrack HZ v3 single-axis solar trackers. The project is anticipated to be among the biggest solar storage facilities in the United States.

Global Solar Tracker Market Report Scope:

Historical Data: 2020 - 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Movement, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

Photovoltaic (PV)
Concentrated Solar Power (CSP)

By Movement:

Single Axis
Dual Axis

By Application:

Utility
Non-utility

By Region:

North America

U.S.
Canada

Europe

UK
Germany
France
Spain
Italy
ROE

Asia Pacific

China
India
Japan
Australia
South Korea
RoAPAC

Latin America

Brazil
Mexico

Middle East & Africa

Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Solar Tracker Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Solar Tracker Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Solar Tracker Market, by Movement, 2020-2030 (USD Billion)
- 1.2.4. Solar Tracker Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global Solar Tracker Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global Solar Tracker Market Dynamics

3.1. Solar Tracker Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
  - 3.1.1.1. Increasing government moves to promote green energy adoption
  - 3.1.1.2. Growing adoption of renewable sources for power generation.
- 3.1.2. Market Challenges
  - 3.1.2.1. High Initial Investment Cost
- 3.1.3. Market Opportunities
  - 3.1.3.1. Rising solar photovoltaic installations projects
  - 3.1.3.2. Integration of software technologies

Chapter 4. Global Solar Tracker Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's 5 Force Impact Analysis
4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

Chapter 5. Global Solar Tracker Market, by Type

5.1. Market Snapshot
5.2. Global Solar Tracker Market by Type, Performance - Potential Analysis
5.3. Global Solar Tracker Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Solar Tracker Market, Sub Segment Analysis
- 5.4.1. Photovoltaic (PV)
- 5.4.2. Concentrated Solar Power (CSP)

Chapter 6. Global Solar Tracker Market, by Movement

6.1. Market Snapshot
6.2. Global Solar Tracker Market by Movement, Performance - Potential Analysis
6.3. Global Solar Tracker Market Estimates & Forecasts by Movement 2020-2030 (USD Billion)
6.4. Solar Tracker Market, Sub Segment Analysis
- 6.4.1. Single Axis
- 6.4.2. Dual Axis

Chapter 7. Global Solar Tracker Market, by Application

7.1. Market Snapshot
7.2. Global Solar Tracker Market by Application, Performance - Potential Analysis
7.3. Global Solar Tracker Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
7.4. Solar Tracker Market, Sub Segment Analysis
- 7.4.1. Utility
- 7.4.2. Non-utility

Chapter 8. Global Solar Tracker Market, Regional Analysis

8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Solar Tracker Market, Regional Market Snapshot
8.4. North America Solar Tracker Market
- 8.4.1. U.S. Solar Tracker Market
  - 8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
  - 8.4.1.2. Movement breakdown estimates & forecasts, 2020-2030
  - 8.4.1.3. Application breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Solar Tracker Market
8.5. Europe Solar Tracker Market Snapshot
- 8.5.1. U.K. Solar Tracker Market
- 8.5.2. Germany Solar Tracker Market
- 8.5.3. France Solar Tracker Market
- 8.5.4. Spain Solar Tracker Market
- 8.5.5. Italy Solar Tracker Market
- 8.5.6. Rest of Europe Solar Tracker Market
8.6. Asia-Pacific Solar Tracker Market Snapshot
- 8.6.1. China Solar Tracker Market
- 8.6.2. India Solar Tracker Market
- 8.6.3. Japan Solar Tracker Market
- 8.6.4. Australia Solar Tracker Market
- 8.6.5. South Korea Solar Tracker Market
- 8.6.6. Rest of Asia Pacific Solar Tracker Market
8.7. Latin America Solar Tracker Market Snapshot
- 8.7.1. Brazil Solar Tracker Market
- 8.7.2. Mexico Solar Tracker Market
8.8. Middle East & Africa Solar Tracker Market
- 8.8.1. Saudi Arabia Solar Tracker Market
- 8.8.2. South Africa Solar Tracker Market
- 8.8.3. Rest of Middle East & Africa Solar Tracker Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Abengoa Solar S.A.
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Recent Developments
- 9.3.2. AllEarth Renewables
- 9.3.3. Array Technologies Inc.
- 9.3.4. DEGERenergie GmbH & Co. KG
- 9.3.5. Nclave
- 9.3.6. Powerway Renewable Energy Co. Ltd.
- 9.3.7. Soltec Tracker
- 9.3.8. SunPower Corporation
- 9.3.9. Titan Tracker
- 9.3.10. Trina Solar Limited

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Solar Tracker Market, report scope
TABLE 2. Global Solar Tracker Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Solar Tracker Market estimates & forecasts by Type 2020-2030 (USD Billion)
TABLE 4. Global Solar Tracker Market estimates & forecasts by Movement 2020-2030 (USD Billion)
TABLE 5. Global Solar Tracker Market estimates & forecasts by Application 2020-2030 (USD Billion)
TABLE 6. Global Solar Tracker Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Solar Tracker Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Solar Tracker Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Solar Tracker Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Solar Tracker Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Solar Tracker Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Solar Tracker Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Solar Tracker Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Solar Tracker Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Solar Tracker Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. U.S. Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. U.S. Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19. Canada Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 20. Canada Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. Canada Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22. UK Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 23. UK Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. UK Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25. Germany Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 26. Germany Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. Germany Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28. France Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 29. France Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. France Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31. Italy Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 32. Italy Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Italy Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34. Spain Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 35. Spain Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. Spain Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37. RoE Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 38. RoE Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. RoE Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40. China Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 41. China Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. China Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43. India Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 44. India Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. India Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46. Japan Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 47. Japan Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. Japan Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49. South Korea Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 50. South Korea Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. South Korea Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52. Australia Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 53. Australia Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. Australia Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55. RoAPAC Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 56. RoAPAC Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. RoAPAC Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58. Brazil Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 59. Brazil Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Brazil Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61. Mexico Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 62. Mexico Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. Mexico Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64. RoLA Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 65. RoLA Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. RoLA Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67. Saudi Arabia Solar Tracker Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 68. South Africa Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. RoMEA Solar Tracker Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70. List of secondary sources, used in the study of global Solar Tracker Market
TABLE 71. List of primary sources, used in the study of global Solar Tracker Market
TABLE 72. Years considered for the study
TABLE 73. Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Solar Tracker Market, research methodology
FIG 2. Global Solar Tracker Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Solar Tracker Market, key trends 2022
FIG 5. Global Solar Tracker Market, growth prospects 2023-2030
FIG 6. Global Solar Tracker Market, porters 5 force model
FIG 7. Global Solar Tracker Market, pest analysis
FIG 8. Global Solar Tracker Market, value chain analysis
FIG 9. Global Solar Tracker Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Solar Tracker Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Solar Tracker Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Solar Tracker Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Solar Tracker Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Solar Tracker Market, regional snapshot 2020 & 2030
FIG 15. North America Solar Tracker Market 2020 & 2030 (USD Billion)
FIG 16. Europe Solar Tracker Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Solar Tracker Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Solar Tracker Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Solar Tracker Market 2020 & 2030 (USD Billion)