Global Solar PV Tracker Market Research Report Information by Technology, By Axis, By End-User, By Drive System And by Region Forecast Till 2032

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Global Solar PV Tracker Market Research Report Information by Technology (Solar Photovoltaic, Concentrated PV, and Concentrated Solar Power), By Axis (Single Axis, and Dual-Axis), By End-User (Industrial, Commercial, and Utilities), By Drive System (Active System, Passive System, and Manual System) And by Region (North America, Europe, Asia-Pacific, And Rest of the World) Forecast Till 2032

Market Overview

The solar PV tracker industry is expected to increase at a CAGR of 10.0% over the forecast period. Rising concerns about energy conservation and the shift from non-renewable to renewable energy, increased government focus on renewable energy, and increased use of solar power in emerging nations are the primary main drivers driving market expansion.

The increasing use of renewable energy sources for power generation drives the market CAGR for solar PV trackers. Natural resource scarcity, population growth, and rising electricity prices have led to a shift away from fossil fuels and toward renewable energy sources such as wind, solar, hydropower, nuclear, and others. Solar energy is one of the most popular net zero renewable energy sources due to the sun's abundant availability as an energy source for generating power.

Market Segment insights

The global solar PV tracker market is divided into two segments based on axis: single-axis and dual-axis. The single-axis segment dominated the global solar PV tracker market in 2023, accounting for 90.90% by value, and is predicted to grow at a CAGR of 10.2% over the forecast period.

The global solar PV tracker market is divided into three technology segments: solar photovoltaic, concentrated PV, and concentrated solar power.

The global solar PV tracker market is divided into three segments based on driving system: active, passive, and manual. In 2023, the Active System category led the market, accounting for 66.06%.

The global solar PV tracker market is divided into three end-user segments: industrial, commercial, and residential. The industrial sector dominated the market in 2023 with a 74.26% share and is predicted to grow at a CAGR of 10.4% during the forecast period.

Regional insights

The global solar PV tracker market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The Asia Pacific region dominated the market in 2023, with a 34.48% share, and is predicted to grow at a CAGR of 11.7% during the forecast period.

The Asia-Pacific solar PV tracker market will dominate due to increased investments and favorable government policies, which would result in an increase in demand for solar PV trackers and drive market expansion in this area.

Europe's solar PV tracker industry has the second-largest market share, thanks to the government's increased emphasis on renewable energy and favorable regulations.

The North American solar PV tracker market is predicted to expand at the quickest CAGR between 2023 and 2032. This is due to an increased emphasis on sustainable energy and lower costs for solar trackers, which are boosting market growth in this region.

Key players

PVHardware, MECASOLAR, IDEEMATEC, Soltec, Arctech, GameChange Solar, Trina Solar, AllEarth Renewables, Xiamen Grace Solar Technology, Lingyang Technologies Inc., Array Technologies, and Nextracker Inc. are among the leading companies in the solar PV tracker market.

Product Code: MRFR/E&P/4418-HCR

1 EXECUTIVE SUMMARY

2 MARKET INTRODUCTION

2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 OVERVIEW
3.2 DATA FLOW
- 3.2.1 DATA MINING PROCESS
3.3 PURCHASED DATABASE:
3.4 SECONDARY SOURCES:
- 3.4.1 SECONDARY RESEARCH DATA FLOW:
3.5 PRIMARY RESEARCH:
- 3.5.1 PRIMARY RESEARCH DATA FLOW:
- 3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED
- 3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE
3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
- 3.6.1 TRADE ANALYSIS APPROACH
3.7 DATA FORECASTING
- 3.7.1 DATA FORECASTING TECHNIQUE
3.8 DATA MODELING
- 3.8.1 MICROECONOMIC FACTOR ANALYSIS:
- 3.8.2 DATA MODELING:
3.9 TEAMS AND ANALYST CONTRIBUTION

4 MARKET DYNAMICS

4.1 INTRODUCTION
4.2 DRIVERS
- 4.2.1 RISING DEMAND FOR OFF-GRID SOLAR PANEL SYSTEMS
- 4.2.2 RISING ENVIRONMENTAL CONCERNS AND REGULATIONS
4.3 RESTRAINTS
- 4.3.1 HIGH INITIAL COST
- 4.3.2 FLUCTUATING RAW MATERIAL PRICES
4.4 OPPORTUNITY
- 4.4.1 GROWING ENERGY DEMAND AND SECURITY
- 4.4.2 DEVELOPMENT OF ADVANCED TECHNOLOGIES
4.5 IMPACT ANALYSIS OF COVID-19
- 4.5.1 IMPACT ON DEMAND
- 4.5.2 IMPACT ON SUPPLY
4.6 RUSSIA-UKRAINE WAR IMPACT ANALYSIS
- 4.6.1 IMPACT OF ECONOMIC SLOWDOWN

5 MARKET FACTOR ANALYSIS

5.1 SUPPLY/VALUE CHAIN ANALYSIS
- 5.1.1 PARTICIPANTS
  - 5.1.1.1 SUBASSEMBLIES SUPPLIERS
    - 5.1.1.1.1 SUBASSEMBLIES TRENDS
    - 5.1.1.1.2 LIST OF SUBASSEMBLIES SUPPLIERS
  - 5.1.1.2 COMPONENT SYSTEM MANUFACTURERS / ASSEMBLER
  - 5.1.1.3 DISTRIBUTORS
    - 5.1.1.3.1 LIST OF DISTRIBUTORS
  - 5.1.1.4 END-USERS
    - 5.1.1.4.1 LIST OF POTENTIAL END USERS
5.2 PORTER'S FIVE FORCES MODEL
- 5.2.1 THREAT OF NEW ENTRANTS
- 5.2.2 THREAT OF SUBSTITUTES
- 5.2.3 BARGAINING POWER OF SUPPLIERS
- 5.2.4 BARGAINING POWER OF BUYERS
- 5.2.5 INTENSITY OF RIVALRY
5.3 BUSINESS ENVIRONMENT ANALYSIS
- 5.3.1 PESTEL ANALYSIS
5.4 PRICING ANALYSIS, BY REGION (2018-2032) (USD/KW)
5.5 TECHNOLOGICAL ADVANCEMENTS
- 5.5.1 TECHNOLOGICAL ADVANCEMENTS
- 5.5.2 TECHNOLOGY ROADMAP
- 5.5.3 COMPATIBILITY WITH APPLICATION
- 5.5.4 INNOVATIONS
5.6 TARIFFS, STANDARDS, AND REGULATORY LANDSCAPE
- 5.6.1 TARIFFS
- 5.6.2 CERTIFICATION AND STANDARDS
  - 5.6.2.1 IEC STANDARDS
  - 5.6.2.2 IEEE STANDARDS
- 5.6.3 GOVERNMENT REGULATIONS & POLICIES
  - 5.6.3.1 COUNTRY WISE GOVERNMENT REGULATIONS & POLICIES
5.7 RESEARCH AND DEVELOPMENT REVIEW
- 5.7.1 INVESTMENT IN NEW TEST TECHNOLOGIES
5.8 CASE STUDY ANALYSIS
- 5.8.1 USE CASES 1
  - 5.8.1.1 OVERVIEW
- 5.8.2 USE CASES 2

6 GLOBAL SOLAR PV TRACKER MARKET, BY AXIS

6.1 INTRODUCTION
- 6.1.1 SINGLE AXIS
- 6.1.2 DUAL- AXIS

7 GLOBAL SOLAR PV TRACKER MARKET, BY TECHNOLOGY

7.1 INTRODUCTION
- 7.1.1 SOLAR PHOTOVOLTAIC (PV)
- 7.1.2 CONCENTRATED PHOTOVOLTAIC (CPV)
- 7.1.3 CONCENTRATED SOLAR POWER (CSP)

8 GLOBAL SOLAR PV TRACKER MARKET, BY DRIVE SYSTEM

8.1 INTRODUCTION
- 8.1.1 ACTIVE SYSTEM
- 8.1.2 PASSIVE SYSTEM
- 8.1.3 MANUAL SYSTEM

9 GLOBAL SOLAR PV TRACKER MARKET, BY END USER

9.1 INTRODUCTION
- 9.1.1 INDUSTRIAL
- 9.1.2 RESIDENTIAL
- 9.1.3 COMMERCIAL

10 GLOBAL SOLAR PV TRACKER MARKET, BY REGION

10.1 INTRODUCTION
- 10.1.1 NORTH AMERICA
  - 10.1.1.1 US
  - 10.1.1.2 CANADA
  - 10.1.1.3 MEXICO
- 10.1.2 EUROPE
  - 10.1.2.1 GERMANY
  - 10.1.2.2 FRANCE
  - 10.1.2.3 UK
  - 10.1.2.4 SPAIN
  - 10.1.2.5 ITALY
  - 10.1.2.6 POLAND
  - 10.1.2.7 NETHERLANDS
  - 10.1.2.8 BELGIUM
  - 10.1.2.9 AUSTRIA
  - 10.1.2.10 REST OF EUROPE
- 10.1.3 ASIA PACIFIC
  - 10.1.3.1 CHINA
  - 10.1.3.2 INDIA
  - 10.1.3.3 JAPAN
  - 10.1.3.4 THAILAND
  - 10.1.3.5 SOUTH KOREA
  - 10.1.3.6 REST OF ASIA PACIFIC
- 10.1.4 SOUTH AMERICA
  - 10.1.4.1 BRAZIL
  - 10.1.4.2 ARGENTINA
  - 10.1.4.3 CHILE
  - 10.1.4.4 REST OF SOUTH AMERICA
- 10.1.5 MIDDLE EAST & AFRICA
  - 10.1.5.1 SAUDI ARABIA
  - 10.1.5.2 QATAR
  - 10.1.5.3 OMAN
  - 10.1.5.4 UAE
  - 10.1.5.5 SOUTH AFRICA
  - 10.1.5.6 REST OF MIDDLE EAST & AFRICA

11 COMPETITIVE LANDSCAPE

11.1 INTRODUCTION
11.2 COMPETITION DASHBOARD
11.3 COMPANY MARKET SHARE ANALYSIS, 2023 (%)
11.4 COMPETITIVE BENCHMARKING
11.5 LIST OF KEY PLAYERS, BY REGION
11.6 KEY DEVELOPMENTS & GROWTH STRATEGIES
- 11.6.1 NEW PRODUCT LAUNCH/SERVICE DEPLOYMENT
- 11.6.2 PARTNERSHIP/AGREEMENT
- 11.6.3 CAPACITY EXPANSION

12 COMPANY PROFILES

12.1 NEXTRACKER INC.
- 12.1.1 COMPANY OVERVIEW
- 12.1.2 FINANCIAL OVERVIEW
- 12.1.3 PRODUCTS OFFERED
- 12.1.4 KEY DEVELOPMENTS
- 12.1.5 SWOT ANALYSIS
- 12.1.6 KEY STRATEGY
12.2 ARRAY TECHNOLOGIES
- 12.2.1 COMPANY OVERVIEW
- 12.2.2 FINANCIAL OVERVIEW
- 12.2.3 PRODUCTS OFFERED
- 12.2.4 KEY DEVELOPMENTS
- 12.2.5 SWOT ANALYSIS
- 12.2.6 KEY STRATEGY
12.3 PVHARDWARE
- 12.3.1 COMPANY OVERVIEW
- 12.3.2 FINANCIAL OVERVIEW
- 12.3.3 PRODUCTS OFFERED
- 12.3.4 KEY DEVELOPMENTS
- 12.3.5 SWOT ANALYSIS
- 12.3.6 KEY STRATEGY
12.4 MECASOLAR
- 12.4.1 COMPANY OVERVIEW
- 12.4.2 FINANCIAL OVERVIEW
- 12.4.3 PRODUCTS OFFERED
- 12.4.4 KEY DEVELOPMENTS
- 12.4.5 SWOT ANALYSIS
- 12.4.6 KEY STRATEGY
12.5 IDEEMATEC
- 12.5.1 COMPANY OVERVIEW
- 12.5.2 FINANCIAL OVERVIEW
- 12.5.3 PRODUCTS OFFERED
- 12.5.4 KEY DEVELOPMENTS
- 12.5.5 SWOT ANALYSIS
- 12.5.6 KEY STRATEGY
12.6 SOLTEC
- 12.6.1 COMPANY OVERVIEW
- 12.6.2 FINANCIAL OVERVIEW
- 12.6.3 PRODUCTS OFFERED
- 12.6.4 KEY DEVELOPMENTS
- 12.6.5 SWOT ANALYSIS
- 12.6.6 KEY STRATEGY
12.7 ARCTECH
- 12.7.1 COMPANY OVERVIEW
- 12.7.2 FINANCIAL OVERVIEW
- 12.7.3 PRODUCTS OFFERED
- 12.7.4 KEY DEVELOPMENTS
- 12.7.5 SWOT ANALYSIS
- 12.7.6 KEY STRATEGY
12.8 GAMECHANGE SOLAR
- 12.8.1 COMPANY OVERVIEW
- 12.8.2 FINANCIAL OVERVIEW
- 12.8.3 PRODUCTS OFFERED
- 12.8.4 KEY DEVELOPMENTS
- 12.8.5 SWOT ANALYSIS
- 12.8.6 KEY STRATEGY
12.9 TRINA SOLAR
- 12.9.1 COMPANY OVERVIEW
- 12.9.2 FINANCIAL OVERVIEW
- 12.9.3 PRODUCTS OFFERED
- 12.9.4 KEY DEVELOPMENTS
- 12.9.5 SWOT ANALYSIS
- 12.9.6 KEY STRATEGY
12.10 ALLEARTH RENEWABLES
- 12.10.1 COMPANY OVERVIEW
- 12.10.2 FINANCIAL OVERVIEW
- 12.10.3 PRODUCTS OFFERED
- 12.10.4 KEY DEVELOPMENTS
- 12.10.5 SWOT ANALYSIS
- 12.10.6 KEY STRATEGY
12.11 XIAMEN GRACE SOLAR TECHNOLOGY
- 12.11.1 COMPANY OVERVIEW
- 12.11.2 FINANCIAL OVERVIEW
- 12.11.3 PRODUCTS OFFERED
- 12.11.4 KEY DEVELOPMENTS
- 12.11.5 SWOT ANALYSIS
- 12.11.6 KEY STRATEGY
12.12 LINGYANG TECHNOLOGIES INC
- 12.12.1 COMPANY OVERVIEW
- 12.12.2 FINANCIAL OVERVIEW
- 12.12.3 PRODUCTS OFFERED
- 12.12.4 KEY DEVELOPMENTS
- 12.12.5 SWOT ANALYSIS
- 12.12.6 KEY STRATEGY

13 DATA CITATIONS