Solar Tracker Market by Technology, Type, System Type, Application

List of Tables

The Global Solar Tracker Market is forecasted to grow significantly, with a projected USD 3,699.62 million in 2023 at a CAGR of 14.15% and expected to reach a staggering USD 9,533.11 million by 2030.

The Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation is expected to have significant long-term effects on the Global Solar Tracker Market. The ongoing research considers the changes in consumer behavior, supply chain disruptions, and government interventions caused by the pandemic. Similarly, the report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading. Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.

Market Segmentation & Coverage:

This research report categorizes the Global Solar Tracker Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Technology, market is studied across Concentrated Photovoltaic, Concentrated Solar Power, and Solar Photovoltaic. The Concentrated Solar Power commanded largest market share of 34.23% in 2022, followed by Solar Photovoltaic.

Based on Type, market is studied across Dual Axis and Single Axis. The Single Axis commanded largest market share of 82.12% in 2022, followed by Dual Axis.

Based on System Type, market is studied across Active, Manual, and Passive. The Passive commanded largest market share of 45.34% in 2022, followed by Manual.

Based on Application, market is studied across Commercial & Industrial, Residential, and Utility. The Utility commanded largest market share of 74.23% in 2022, followed by Commercial & Industrial.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 42.23% in 2022, followed by Asia-Pacific.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Global Solar Tracker Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation

5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Solar Tracker Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Solar Tracker Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Solar Tracker Market?

4. What is the competitive strategic window for opportunities in the Global Solar Tracker Market?

5. What are the technology trends and regulatory frameworks in the Global Solar Tracker Market?

6. What is the market share of the leading vendors in the Global Solar Tracker Market?

7. What modes and strategic moves are considered suitable for entering the Global Solar Tracker Market?

Product Code: MRR-0D217D5AD7BA

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Solar Tracker Market, by Technology, 2022 vs 2030
4.3. Solar Tracker Market, by Type, 2022 vs 2030
4.4. Solar Tracker Market, by System Type, 2022 vs 2030
4.5. Solar Tracker Market, by Application, 2022 vs 2030
4.6. Solar Tracker Market, by Region, 2022 vs 2030

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Government Initiatives Supporting Renewable Energy Utilization
  - 5.1.1.2. Growing Solar Power Installations in Residential Buildings
- 5.1.2. Restraints
  - 5.1.2.1. High Operation & Maintenance Expenditure for Dual-Axis Solar Trackers
- 5.1.3. Opportunities
  - 5.1.3.1. Recent Advancements in Solar Tracking Systems
  - 5.1.3.2. Increasing Investments in Solar Project Automation and Upgradation
- 5.1.4. Challenges
  - 5.1.4.1. Complexities Associated With Installations of Solar Trackers
5.2. Market Trends
5.3. Cumulative Impact of COVID-19
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework
5.9. Client Customization

6. Solar Tracker Market, by Technology

6.1. Introduction
6.2. Concentrated Photovoltaic
6.3. Concentrated Solar Power
6.4. Solar Photovoltaic

7. Solar Tracker Market, by Type

7.1. Introduction
7.2. Dual Axis
7.3. Single Axis

8. Solar Tracker Market, by System Type

8.1. Introduction
8.2. Active
8.3. Manual
8.4. Passive

9. Solar Tracker Market, by Application

9.1. Introduction
9.2. Commercial & Industrial
9.3. Residential
9.4. Utility

10. Americas Solar Tracker Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Solar Tracker Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Solar Tracker Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. FPNV Positioning Matrix
13.2. Market Share Analysis, By Key Player
13.3. Competitive Scenario Analysis, By Key Player
- 13.3.1. Merger & Acquisition
  - 13.3.1.1. Zetwerk Acquires Unimacts, a Solar Tracker and Wind Turbine Components Supplier.
  - 13.3.1.2. FTC Solar Closed its Acquisition of HX Tracker.
  - 13.3.1.3. Array Technologies Acquired Spanish Solar Tracker Manufacturer STI Norland.
- 13.3.2. Agreement, Collaboration, & Partnership
  - 13.3.2.1. Array Technologies Becomes First Supplier to Manufacture Solar Trackers Locally in Australia.
  - 13.3.2.2. Arctech Solar Tracking Solution Improves the Mining Industry of Thailand.
  - 13.3.2.3. Arctech Solar Tracking Solution Improves the Mining Industry of Thailand.
  - 13.3.2.4. ArcelorMittal and Greenko in $600 Million Deal for 975 MW RTC Power.
- 13.3.3. New Product Launch & Enhancement
  - 13.3.3.1. Nextracker Launches USD $535M IPO in the Solar Tracker Market.
  - 13.3.3.2. GameChange Solar Launches the 1P 2Row Genius Tracker.
  - 13.3.3.3. DC Energy and Valmont Solar Announce Single Axis Tracker Partnership.
  - 13.3.3.4. The Benefits of Arctech Skywings Solar Trackers.
- 13.3.4. Investment & Funding
  - 13.3.4.1. Benefits of Solar Trackers for Energy Production.
  - 13.3.4.2. Avangrid and Array Technologies Win USD 30 Million Solar Tracker Contract.
- 13.3.5. Award, Recognition, & Expansion
  - 13.3.5.1. Array Technologies to Build Solar Tracker Factory in Australia.
  - 13.3.5.2. PV Hardware Opens New Solar Tracker Factory in Saudi Arabia.
  - 13.3.5.3. Arctech Opens 3 GW Solar Tracker Factory in India.

14. List of Company Mentioned

15. Appendix

15.1. Discussion Guide
15.2. License & Pricing