Dual Axis Solar Tracker Market Report: Trends, Forecast and Competitive Analysis to 2030

Dual Axis Solar Tracker Trends and Forecast

The future of the global dual axis solar tracker market looks promising with opportunities in the utility and non-utility markets. The global dual axis solar tracker market is expected to reach an estimated $10.4 billion by 2030 with a CAGR of 6.1% from 2024 to 2030. The major drivers for this market are increasing concerns over energy conservation and transition from non-renewable energy to renewable energy, growing demand for sustainable energy elevates the demand, and increasing advancement of technology.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Dual Axis Solar Tracker by Segment

The study includes a forecast for the global dual axis solar tracker by type, application, and region.

Dual Axis Solar Tracker Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Single Axis
• Dual Axis

Dual Axis Solar Tracker Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Utility
• Non-Utility

Dual Axis Solar Tracker Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Dual Axis Solar Tracker Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies dual axis solar tracker companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the dual axis solar tracker companies profiled in this report include-

• NEXTracker
• Array Technologies
• PV Hardware
• Soitec
• First Solar
• Trina Solar
• Reutech Radar Systems

Dual Axis Solar Tracker Market Insights

Lucintel forecasts that dual axis will remain the larger segment over the forecast period because the trackers allow maximum absorption of the sun's rays as they can track the sun both horizontally and vertically.

North America will remain the largest region over the forecast period due to growing demand for clean and sustainable energy sources in the region, as well as, rising need to reduce the dependence on fossil fuels.

Features of the Global Dual Axis Solar Tracker Market

Market Size Estimates: Dual axis solar tracker market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Dual axis solar tracker market size by type, application, and region in terms of value ($B).

Regional Analysis: Dual axis solar tracker market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, application, and regions for the dual axis solar tracker market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the dual axis solar tracker market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the dual axis solar tracker market size?

Answer: The global dual axis solar tracker market is expected to reach an estimated $10.4 billion by 2030.

Q2. What is the growth forecast for dual axis solar tracker market?

Answer: The global dual axis solar tracker market is expected to grow with a CAGR of 6.1% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the dual axis solar tracker market?

Answer: The major drivers for this market are increasing concerns over energy conservation and transition from non-renewable energy to renewable energy, growing demand for sustainable energy elevates the demand, and increasing advancement of technology.

Q4. What are the major segments for dual axis solar tracker market?

Answer: The future of the global dual axis solar tracker market looks promising with opportunities in the utility and non-utility markets.

Q5. Who are the key dual axis solar tracker market companies?

Answer: Some of the key dual axis solar tracker companies are as follows:

• NEXTracker
• Array Technologies
• PV Hardware
• Soitec
• First Solar
• Trina Solar
• Reutech Radar Systems

Q6. Which dual axis solar tracker market segment will be the largest in future?

Answer: Lucintel forecasts that dual axis will remain the larger segment over the forecast period because the trackers allow maximum absorption of the sun's rays as they can track the sun both horizontally and vertically.

Q7. In dual axis solar tracker market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to growing demand for clean and sustainable energy sources in the region, as well as, rising need to reduce the dependence on fossil fuels.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the dual axis solar tracker market by type (single axis and dual axis), application (utility and non-utility), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?