Market Overview:
The global solar trackers market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in the market can be attributed to factors such as increasing demand for solar energy, technological advancements and growing awareness about the benefits of using solar trackers. Based on type, the global solar trackers market is segmented into single axis and dual axis. Dual axis solar trackers are expected to witness higher growth than single axis during the forecast period. This can be attributed to their ability to capture more sunlight and generate more power as compared to single axis solar trackers. Based on application, the global Solar Trackers Market is segmented into utility and non-utility segments. The utility segment is further sub-segmented into ground mounted systems and rooftop systems while non-utility includes commercial & industrial (C&I) sector, residential sector, government sector etcetera).
Product Definition:
Solar trackers are devices that orient solar panels towards the sun. This increases the amount of energy collected by the panels and improves their efficiency. Solar trackers are important for two reasons. First, they increase the amount of energy that a solar panel can collect in a day, which makes them more cost effective. Second, they improve the efficiency of solar panels, which means that more electricity can be generated from a given area of solar panels.
Single Axis:
Single-axis tracker is a solar energy system that follows the sun's rays along one single axis throughout the day. The design of these trackers allows them to follow the sun's path and generate maximum power output throughout the year. Single-axis trackers are less expensive than solar towers as they do not have to withstand wind loads and can be built in lower numbers, making them affordable for residential use.
Dual Axis:
Dual-axis tracker is a device used to measure the sun's movement along with the earth's rotation. The earth rotates on its own axis while the sun appears to move in circles around it. As seen from any given location on earth, the apparent position of day and night changes continuously due to this motion of the sun.
Application Insights:
The utility application segment accounted for the largest revenue share of over 50% in 2017. The trackers are used for power generation, transmission and distribution. Increasing demand for electricity is expected to drive the utility sector which in turn will propel solar trackers market growth over the forecast period.
The non-utility applications include both commercial and residential buildings as well as industrial units that generate electricity or heat for usage purposes. Non-utility applications accounted for a smaller share of the overall tracker market due to high installation costs associated with them when compared to their utility counterparts. However, growing government subsidies & tax credits coupled with declining prices of PV modules are anticipated to drive demand from non-utility end users resulting in higher industry penetration across this segment during the forecast period.
Regional Analysis:
Asia Pacific regional solar trackers market is anticipated to witness significant growth over the forecast period owing to increasing investments in renewable energy infrastructure. The region accounted for approximately 40% of global installations in 2016 and is expected to grow at a CAGR of XX% from 2017 to 2030. China, Japan, South Korea, Australia and India are some of the countries that have shown interest in building large-scale solar farms which will help boost the industry growth across this region.
The European regional market captured a revenue share of over 25% in 2016 owing to growing environmental concerns coupled with government initiatives favoring clean energy sources such as solar power. Germany has emerged as one of the major markets for these trackers due to its high adoption rate for utility applications along with non-utility applications such as air pollution control systems used by farmers among others.
Growth Factors:
- Increasing demand for solar energy: The global demand for solar energy is increasing rapidly due to the growing concerns about climate change and rising electricity costs. This is driving the growth of the solar tracker market as well.
- Declining cost of solar energy: The cost of installing and operating a solar power plant has been declining steadily in recent years, making it more affordable for many consumers and businesses. This is also contributing to the growth of the solar tracker market.
- Government incentives and subsidies: Governments around the world are offering various incentives and subsidies to promote the adoption of renewable energy technologies, including solar trackers. This is helping to drive market growth significantly.
Scope Of The Report
Report Attributes
Report Details
Report Title
Solar Trackers Market Research Report
By Type
Single Axis, Dual Axis
By Application
Utility, Non-Utility
By Companies
Soitec SA, Arctech, Array Technologies, Convert Italia, First Solar, NEXTracker, Abengoa, AllEarth Renewables, Edisun Microgrids, Exosun, Soitec SA, Haosolar, Mahindra Susten, Scorpius Trackers, Solar FlexRack, Sun Action Trackers, SunLink, SunPower
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
187
Number of Tables & Figures
131
Customization Available
Yes, the report can be customized as per your need.
Global Solar Trackers Market Report Segments:
The global Solar Trackers market is segmented on the basis of:
Types
Single Axis, Dual Axis
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Utility, Non-Utility
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Soitec SA
- Arctech
- Array Technologies
- Convert Italia
- First Solar
- NEXTracker
- Abengoa
- AllEarth Renewables
- Edisun Microgrids
- Exosun
- Soitec SA
- Haosolar
- Mahindra Susten
- Scorpius Trackers
- Solar FlexRack
- Sun Action Trackers
- SunLink
- SunPower
Highlights of The Solar Trackers Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single Axis
- Dual Axis
- By Application:
- Utility
- Non-Utility
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Solar Trackers Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Solar Trackers are a type of solar panel that use the sun's energy to generate electricity. Solar Trackers can be mounted on roofs or other large surfaces, and they can track the sun's movement across the sky to generate power as needed.
Some of the major players in the solar trackers market are Soitec SA, Arctech, Array Technologies, Convert Italia, First Solar, NEXTracker, Abengoa, AllEarth Renewables, Edisun Microgrids, Exosun, Soitec SA, Haosolar, Mahindra Susten, Scorpius Trackers, Solar FlexRack, Sun Action Trackers, SunLink, SunPower.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Solar Trackers Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Solar Trackers Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Solar Trackers Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Solar Trackers Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Solar Trackers Market Size & Forecast, 2018-2028
4.5.1 Solar Trackers Market Size and Y-o-Y Growth
4.5.2 Solar Trackers Market Absolute $ Opportunity
Chapter 5 Global Solar Trackers Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Solar Trackers Market Size Forecast by Type
5.2.1 Single Axis
5.2.2 Dual Axis
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Solar Trackers Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Solar Trackers Market Size Forecast by Applications
6.2.1 Utility
6.2.2 Non-Utility
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Solar Trackers Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Solar Trackers Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Solar Trackers Analysis and Forecast
9.1 Introduction
9.2 North America Solar Trackers Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Solar Trackers Market Size Forecast by Type
9.6.1 Single Axis
9.6.2 Dual Axis
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Solar Trackers Market Size Forecast by Applications
9.10.1 Utility
9.10.2 Non-Utility
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Solar Trackers Analysis and Forecast
10.1 Introduction
10.2 Europe Solar Trackers Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Solar Trackers Market Size Forecast by Type
10.6.1 Single Axis
10.6.2 Dual Axis
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Solar Trackers Market Size Forecast by Applications
10.10.1 Utility
10.10.2 Non-Utility
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Solar Trackers Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Solar Trackers Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Solar Trackers Market Size Forecast by Type
11.6.1 Single Axis
11.6.2 Dual Axis
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Solar Trackers Market Size Forecast by Applications
11.10.1 Utility
11.10.2 Non-Utility
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Solar Trackers Analysis and Forecast
12.1 Introduction
12.2 Latin America Solar Trackers Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Solar Trackers Market Size Forecast by Type
12.6.1 Single Axis
12.6.2 Dual Axis
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Solar Trackers Market Size Forecast by Applications
12.10.1 Utility
12.10.2 Non-Utility
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Solar Trackers Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Solar Trackers Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Solar Trackers Market Size Forecast by Type
13.6.1 Single Axis
13.6.2 Dual Axis
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Solar Trackers Market Size Forecast by Applications
13.10.1 Utility
13.10.2 Non-Utility
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Solar Trackers Market: Competitive Dashboard
14.2 Global Solar Trackers Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Soitec SA
14.3.2 Arctech
14.3.3 Array Technologies
14.3.4 Convert Italia
14.3.5 First Solar
14.3.6 NEXTracker
14.3.7 Abengoa
14.3.8 AllEarth Renewables
14.3.9 Edisun Microgrids
14.3.10 Exosun
14.3.11 Soitec SA
14.3.12 Haosolar
14.3.13 Mahindra Susten
14.3.14 Scorpius Trackers
14.3.15 Solar FlexRack
14.3.16 Sun Action Trackers
14.3.17 SunLink
14.3.18 SunPower
