Solar Tracker Market Insights:
The Solar Tracker Market was analyzed which was worth USD 4.4 Billion in the year 2022, expecting a CAGR of 26.1% during the forecast period (2023-2030), and the market is projected to be valued at USD 28.13 Billion by 2030.
The increased adoption of Solar Tracker in the Renewable Energy is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Solar Tracker also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Solar Tracker in many sectors also boosts the market growth during the forecast period.
A solar tracker is a device that follows the movement of the sun and directs solar panels or mirrors to remain oriented towards the sun throughout the day. By tracking the sun’s movement, solar trackers can optimize the amount of solar energy that is captured and increase the overall energy output of solar energy systems. There are two main types of solar trackers: single-axis and dual-axis trackers. Single-axis trackers move solar panels or mirrors along one axis, typically the east-west axis, while dual-axis trackers move them along both the east-west and north-south axes. Dual-axis trackers are generally more expensive than single-axis trackers, but they can capture more sunlight and generate more energy.
Solar Tracker Market Research Report” was just released by Market Research Community. It is divided into several categories, including type (Single Axis, Dual Axis), application (Utility, Non-utility), Technology (Solar Photovoltaic (PV), Concentrated Solar Power (CSP)), and companies (Abengoa Solar S.A., AllEarth Renewables, Array Technologies Inc., DEGERenergie GmbH & Co. KG, Nclave, Powerway Renewable Energy Co. Ltd., Soltec Tracker, SunPower Corporation, Titan Tracker, Trina Solar Limited), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 26.1%, over the forecast period of 2023–2030.
|Market Size in 2030 (USD Billion)
|Single Axis, Dual Axis
|Solar Photovoltaic (PV), Concentrated Solar Power (CSP), Concentrated Photovoltaic (CPV)
|North America, Europe, Asia Pacific, Latin America, Middle East and Africa
|Abengoa Solar S.A., AllEarth Renewables, Array Technologies Inc., DEGERenergie GmbH & Co. KG, Nclave, Powerway Renewable Energy Co. Ltd., Soltec Tracker, SunPower Corporation, Titan Tracker, Trina Solar Limited
The COVID-19 pandemic has had a substantial negative influence on the Solar Tracker market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Abengoa Solar S.A., AllEarth Renewables, Array Technologies Inc., DEGERenergie GmbH & Co. KG, Nclave, Powerway Renewable Energy Co. Ltd., Soltec Tracker, SunPower Corporation, Titan Tracker, Trina Solar Limited
Market Segment Analysis:
- Solar Photovoltaic (PV)
- Concentrated Solar Power (CSP)
- Concentrated Photovoltaic (CPV)
- Single Axis
- Dual Axis
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Solar Tracker industries in the region.
Key Solar Tracker Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Solar Tracker Market segments.
– Largest Market Share Held by Industry to Industry for Solar Tracker
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Solar Tracker Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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