Solar Tracker Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

The energy sector is experiencing a transformation with the emergence of reliable renewable energy sources, overcoming production deficits and gas-emission challenges. Robust facilities for solar and wind energy production have led to a surge in renewable energy sources worldwide. Solar trackers, a crucial component of solar energy infrastructure, have witnessed rapid advancements in recent years. The increasing installation of solar panels in commercial, industrial, and residential sectors is expected to drive demand in the global solar tracker market. Solar trackers play a crucial role in maximizing energy output from solar panels, making them increasingly popular. As photovoltaic technologies continue to dominate the solar energy industry, the use of solar trackers becomes a key differentiator between intermediate and high-energy installations.

Solar Trackers Boost Electricity Output

The use of solar trackers has been found to significantly increase the total electricity output of solar installations. In certain regions, these trackers can improve electricity output by up to 40%, depending on the angle of adjustment. Therefore, solar tracker technology is projected to attract substantial demand in the coming years.

Double-Axis Solar Trackers Garner Tremendous Attention

While single-axis solar trackers in various configurations such as vertical, horizontal, and tilted offer resilience to solar panels and parabolic troughs, dual-axis solar trackers lead in terms of demand and utility. Dual-axis trackers offer greater resilience in optimizing solar energy production and are more streamlined to perform the designated function.

Challenges Related to Solar Tracker Depreciation

Solar trackers face several challenges, including weather fluctuations, irregular maintenance, and cumbersome replacement processes. These factors may raise concerns among commercial and residential sectors about the efficiency of solar trackers. Additionally, heavy storms can damage the entire solar tracker ecosystem, resulting in negative ROIs and prolonged energy capacity loss. However, solar energy facilities can address these challenges through careful tracker selection based on weather, latitude, and system size.

North America's Promising Growth Opportunities

The US solar energy sector has witnessed significant investments, with a 50% share of solar tracker shipments in 2019. Government incentives towards improving solar energy output have further fueled demand for solar trackers in the US market. Given these factors, the solar tracker market in North America is expected to follow a lucrative pathway.

Key Players in the Global Solar Tracker Market

Prominent names in the global solar tracker market include:

Powerway Renewable Energy Co. Ltd.
Abengoa Solar S.A.
Artech Solar

NClave
PV Hardware
Array Technologies, Inc.

The global solar tracker market is witnessing growth due to the increasing demand for renewable energy sources. Solar trackers play a vital role in maximizing energy output and are essential for high-energy installations. Despite some challenges, the solar tracker market is poised for impressive growth, particularly in North America with significant investments in the solar energy sector.

1. Executive Summary

1.1. Global Solar Tracker Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
  - 2.2.1.1. Driver A
  - 2.2.1.2. Driver B
  - 2.2.1.3. Driver C
- 2.2.2. Restraints
  - 2.2.2.1. Restraint 1
  - 2.2.2.2. Restraint 2
- 2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. Covid-19 Impact Analysis
- 2.5.1. Pre-covid and Post-covid Scenario
- 2.5.2. Supply Impact
- 2.5.3. Demand Impact
2.6. Government Regulations
2.7. Technology Landscape
2.8. Economic Analysis
2.9. PESTLE

3. Production Output and Trade Statistics, 2018 - 2022

3.1. Regional Production Statistics
- 3.1.1. North America
- 3.1.2. Europe
- 3.1.3. Asia Pacific
- 3.1.4. Latin America
- 3.1.5. Middle East & Africa

4. Price Trends Analysis and Future Projects, 2018 - 2030

4.1. Key Highlights
4.2. Prominent Factors Affecting Prices
4.3. By Axis Type
4.4. By Region

5. Global Solar Tracker Market Outlook, 2018 - 2030

5.1. Global Solar Tracker Market Outlook, by Technology, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 5.1.1. Key Highlights
  - 5.1.1.1. Solar Photovoltaic (PV)
  - 5.1.1.2. Concentrated Solar Power (CSP)
  - 5.1.1.3. Concentrated Photovoltaic (CPV)
5.2. Global Solar Tracker Market Outlook, by Axis Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 5.2.1. Key Highlights
  - 5.2.1.1. Single Axis
    - 5.2.1.1.1. Horizontal
    - 5.2.1.1.2. Vertical
    - 5.2.1.1.3. Tilted
  - 5.2.1.2. Dual Axis
5.3. Global Solar Tracker Market Outlook, by End-user Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 5.3.1. Key Highlights
  - 5.3.1.1. Utility
  - 5.3.1.2. Residential
  - 5.3.1.3. Commercial
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Global Solar Tracker Market Outlook, by Region, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 5.4.1. Key Highlights
  - 5.4.1.1. North America
  - 5.4.1.2. Europe
  - 5.4.1.3. Asia Pacific
  - 5.4.1.4. Latin America
  - 5.4.1.5. Middle East & Africa
- 5.4.2. BPS Analysis/Market Attractiveness Analysis

6. North America Solar Tracker Market Outlook, 2018 - 2030

6.1. North America Solar Tracker Market Outlook, by Technology, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 6.1.1. Key Highlights
  - 6.1.1.1. Solar Photovoltaic (PV)
  - 6.1.1.2. Concentrated Solar Power (CSP)
  - 6.1.1.3. Concentrated Photovoltaic (CPV)
6.2. North America Solar Tracker Market Outlook, by Axis Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 6.2.1. Key Highlights
  - 6.2.1.1. Single Axis
    - 6.2.1.1.1. Horizontal
    - 6.2.1.1.2. Vertical
    - 6.2.1.1.3. Tilted
  - 6.2.1.2. Dual Axis
6.3. North America Solar Tracker Market Outlook, by End-user Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 6.3.1. Key Highlights
  - 6.3.1.1. Utility
  - 6.3.1.2. Residential
  - 6.3.1.3. Commercial
6.4. North America Solar Tracker Market Outlook, by Country, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 6.4.1. Key Highlights
  - 6.4.1.1. U.S.
  - 6.4.1.2. Canada
- 6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Europe Solar Tracker Market Outlook, 2018 - 2030

7.1. Europe Solar Tracker Market Outlook, by Technology, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 7.1.1. Key Highlights
  - 7.1.1.1. Solar Photovoltaic (PV)
  - 7.1.1.2. Concentrated Solar Power (CSP)
  - 7.1.1.3. Concentrated Photovoltaic (CPV)
7.2. Europe Solar Tracker Market Outlook, by Axis Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 7.2.1. Key Highlights
  - 7.2.1.1. Single Axis
    - 7.2.1.1.1. Horizontal
    - 7.2.1.1.2. Vertical
    - 7.2.1.1.3. Tilted
  - 7.2.1.2. Dual Axis
7.3. Europe Solar Tracker Market Outlook, by End-user Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 7.3.1. Key Highlights
  - 7.3.1.1. Utility
  - 7.3.1.2. Residential
  - 7.3.1.3. Commercial
7.4. Europe Solar Tracker Market Outlook, by Country, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 7.4.1. Key Highlights
  - 7.4.1.1. Germany
  - 7.4.1.2. France
  - 7.4.1.3. U.K.
  - 7.4.1.4. Italy
  - 7.4.1.5. Spain
  - 7.4.1.6. Turkey
  - 7.4.1.7. Russia
  - 7.4.1.8. Rest of Europe
- 7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Asia Pacific Solar Tracker Market Outlook, 2018 - 2030

8.1. Asia Pacific Solar Tracker Market Outlook, by Technology, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 8.1.1. Key Highlights
  - 8.1.1.1. Solar Photovoltaic (PV)
  - 8.1.1.2. Concentrated Solar Power (CSP)
  - 8.1.1.3. Concentrated Photovoltaic (CPV)
8.2. Asia Pacific Solar Tracker Market Outlook, by Axis Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 8.2.1. Key Highlights
  - 8.2.1.1. Single Axis
    - 8.2.1.1.1. Horizontal
    - 8.2.1.1.2. Vertical
    - 8.2.1.1.3. Tilted
  - 8.2.1.2. Dual Axis
8.3. Asia Pacific Solar Tracker Market Outlook, by End-user Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 8.3.1. Key Highlights
  - 8.3.1.1. Utility
  - 8.3.1.2. Residential
  - 8.3.1.3. Commercial
8.4. Asia Pacific Solar Tracker Market Outlook, by Country, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 8.4.1. Key Highlights
  - 8.4.1.1. China
  - 8.4.1.2. Japan
  - 8.4.1.3. South Korea
  - 8.4.1.4. India
  - 8.4.1.5. Southeast Asia
  - 8.4.1.6. Australia
  - 8.4.1.7. Rest of Asia Pacific
- 8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Latin America Solar Tracker Market Outlook, 2018 - 2030

9.1. Latin America Solar Tracker Market Outlook, by Technology, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 9.1.1. Key Highlights
  - 9.1.1.1. Solar Photovoltaic (PV)
  - 9.1.1.2. Concentrated Solar Power (CSP)
  - 9.1.1.3. Concentrated Photovoltaic (CPV)
9.2. Latin America Solar Tracker Market Outlook, by Axis Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 9.2.1. Key Highlights
  - 9.2.1.1. Single Axis
    - 9.2.1.1.1. Horizontal
    - 9.2.1.1.2. Vertical
    - 9.2.1.1.3. Tilted
  - 9.2.1.2. Dual Axis
9.3. Latin America Solar Tracker Market Outlook, by End-user Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 9.3.1. Key Highlights
  - 9.3.1.1. Utility
  - 9.3.1.2. Residential
  - 9.3.1.3. Commercial
9.4. Latin America Solar Tracker Market Outlook, by Country, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 9.4.1. Key Highlights
  - 9.4.1.1. Brazil
  - 9.4.1.2. Mexico
  - 9.4.1.3. Rest of Latin America
- 9.4.2. BPS Analysis/Market Attractiveness Analysis

10. Middle East & Africa Solar Tracker Market Outlook, 2018 - 2030

10.1. Middle East & Africa Solar Tracker Market Outlook, by Technology, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 10.1.1. Key Highlights
  - 10.1.1.1. Solar Photovoltaic (PV)
  - 10.1.1.2. Concentrated Solar Power (CSP)
  - 10.1.1.3. Concentrated Photovoltaic (CPV)
10.2. Middle East & Africa Solar Tracker Market Outlook, by Axis Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 10.2.1. Key Highlights
  - 10.2.1.1. Single Axis
    - 10.2.1.1.1. Horizontal
    - 10.2.1.1.2. Vertical
    - 10.2.1.1.3. Tilted
  - 10.2.1.2. Dual Axis
10.3. Middle East & Africa Solar Tracker Market Outlook, by End-user Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 10.3.1. Key Highlights
  - 10.3.1.1. Utility
  - 10.3.1.2. Residential
  - 10.3.1.3. Commercial
10.4. Middle East & Africa Solar Tracker Market Outlook, by Country, Volume (MW) and Value (US$ Mn), 2018 - 2030
- 10.4.1. Key Highlights
  - 10.4.1.1. GCC
  - 10.4.1.2. South Africa
  - 10.4.1.3. Rest of Middle East & Africa
- 10.4.2. BPS Analysis/Market Attractiveness Analysis

11. Competitive Landscape

11.1. Company Market Share Analysis, 2022
11.2. Competitive Dashboard
11.3. Company Profiles
- 11.3.1. Nextracker Inc.
  - 11.3.1.1. Company Overview
  - 11.3.1.2. Product Portfolio
  - 11.3.1.3. Financial Overview
  - 11.3.1.4. Business Strategies and Development
- 11.3.2. Array Technologies Inc.
- 11.3.3. PV Hardware
- 11.3.4. Arctech Solar Holding Co., Ltd,
- 11.3.5. GameChange Solar
- 11.3.6. Soltec
- 11.3.7. Trina Solar
- 11.3.8. Axial Structural Solutions
- 11.3.9. FTC Solar
- 11.3.10. Valmont Solar
- 11.3.11. Big Sun Energy Technology Inc.
- 11.3.12. Clenergy
- 11.3.13. Grace Solar

12. Appendix

12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations