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Solar Tracker Market Report by Type, Tracking Type, Technology, Application, and Region 2024-2032

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    Report

  • 148 Pages
  • March 2024
  • Region: Global
  • IMARC Group
  • ID: 5946898
Description Jump to:
The global solar tracker market size reached US$ 6.6 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 30.2 Billion by 2032, exhibiting a growth rate (CAGR) of 18.4% during 2023-2032

A solar tracker refers to the device used for orienting a solar panel or solar reflector toward the sun to harness additional sunlight. The trackers are attached to the solar panels to alter their position in sync with the sun irrespective of the weather conditions. This ensures that the solar modules are correctly positioned to gather maximum solar energy and to improve the overall efficiency of the solar panels. Based on the design and tracking mechanism, some of the commonly used variants include active, passive, single-axis and dual-axis trackers. They offer various advantages, such as the generation of additional energy, availability in binary formats and minimal space requirements.

Solar Tracker Market Trends:

A significant increase in the number of solar panel installations across the globe is one of the key factors driving the growth of the market. Furthermore, the implementation of favorable government policies promoting various solar energy projects driving the market growth. Due to the increasing preference for renewable energy sources among the masses and the growing emphasis on utility-scale projects, solar trackers are being deployed across the residential, commercial and industrial sectors. Additionally, various product innovations, such as the development of more efficient and cost-effective solar photovoltaics and concentrated photovoltaics, are acting as other major growth-inducing factors. These systems are innovatively designed to facilitate low-cost power generation. Other factors, including increasing off-grid energy demand, along with the integration of cloud computing and the Internet of Things (IoT)-based solutions, are expected to drive the market further.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global solar tracker market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on type, tracking type, technology and application.

Breakup by Type:

  • Active Solar Tracker
  • Passive Solar Tracker

Breakup by Tracking Type:

  • Single Axis Tracking
  • HSAT (Horizontal Single Axis Trackers)
  • VSAT (Vertical Single Axis Trackers)
  • TSAT (Titled Single Axis Trackers)
  • PSAT (Polar Aligned Single Axis Trackers)
  • Dual Axis Tracking
  • TTDAT (Tip-Tilt Dual Axis Trackers)
  • AADAT (Azimuth-Altitude Dual Axis Trackers)

Breakup by Technology:

  • Solar Photovoltaic (PV)
  • Concentrated Solar Power (CSP)
  • Concentrated Photovoltaic (CPV)

Breakup by Application:

  • Utility Sector
  • Residential Sector
  • Commercial Sector

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

  • The report has also analysed the competitive landscape of the market with some of the key players being Arctech Solar Holding Co. Ltd., Array Technologies Inc., Convert Italia SpA (Valmont Industries Inc.), DEGER energie GmbH & Co KG, First Solar Inc., Nextracker Inc. (Flex Ltd.), Powerway Renewable Energy Co. (SinoTech Power Group), Soltec Energias Renovables S.L. and Sunpower Corporation (Total S.A.).

Key Questions Answered in This Report

1. What was the size of the global solar tracker market in 2023?
2. What is the expected growth rate of the global solar tracker market during 2024-2032?
3. What are the key factors driving the global solar tracker market?
4. What has been the impact of COVID-19 on the global solar tracker market?
5. What is the breakup of the global solar tracker market based on the type?
6. What is the breakup of the global solar tracker market based on the tracking type?
7. What is the breakup of the global solar tracker market based on the technology?
8. What is the breakup of the global solar tracker market based on the application?
9. What are the key regions in the global solar tracker market?
10. Who are the key players/companies in the global solar tracker market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Solar Tracker Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Active Solar Tracker
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Passive Solar Tracker
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Tracking Type
7.1 Single Axis Tracking
7.1.1 Market Trends
7.1.2 Major Types
7.1.2.1 HSAT (Horizontal Single Axis Trackers)
7.1.2.2 VSAT (Vertical Single Axis Trackers)
7.1.2.3 TSAT (Titled Single Axis Trackers)
7.1.2.4 PSAT (Polar Aligned Single Axis Trackers)
7.1.3 Market Forecast
7.2 Dual Axis Tracking
7.2.1 Market Trends
7.2.2 Major Types
7.2.2.1 TTDAT (Tip-Tilt Dual Axis Trackers)
7.2.2.2 AADAT (Azimuth-Altitude Dual Axis Trackers)
7.2.3 Market Forecast
8 Market Breakup by Technology
8.1 Solar Photovoltaic (PV)
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Concentrated Solar Power (CSP)
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Concentrated Photovoltaic (CPV)
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Application
9.1 Utility Sector
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Residential Sector
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Commercial Sector
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Arctech Solar Holding Co. Ltd.
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.2 Array Technologies Inc.
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.3 Convert Italia SpA (Valmont Industries Inc.)
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 Financials
15.3.4 DEGER energie GmbH & Co KG
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.5 First Solar Inc.
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.5.4 SWOT Analysis
15.3.6 Nextracker Inc. (Flex Ltd.)
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.7 Powerway Renewable Energy Co. (SinoTech Power Group)
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.8 Soltec Energias Renovables S.L.
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.9 Sunpower Corporation (Total S.A.)
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
List of Figures
Figure 1: Global: Solar Tracker Market: Major Drivers and Challenges
Figure 2: Global: Solar Tracker Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Solar Tracker Market: Breakup by Type (in %), 2023
Figure 4: Global: Solar Tracker Market: Breakup by Tracking Type (in %), 2023
Figure 5: Global: Solar Tracker Market: Breakup by Technology (in %), 2023
Figure 6: Global: Solar Tracker Market: Breakup by Application (in %), 2023
Figure 7: Global: Solar Tracker Market: Breakup by Region (in %), 2023
Figure 8: Global: Solar Tracker Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 9: Global: Solar Tracker (Active Solar Tracker) Market: Sales Value (in Million US$), 2018 & 2023
Figure 10: Global: Solar Tracker (Active Solar Tracker) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 11: Global: Solar Tracker (Passive Solar Tracker) Market: Sales Value (in Million US$), 2018 & 2023
Figure 12: Global: Solar Tracker (Passive Solar Tracker) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 13: Global: Solar Tracker (Single Axis Tracking) Market: Sales Value (in Million US$), 2018 & 2023
Figure 14: Global: Solar Tracker (Single Axis Tracking) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 15: Global: Solar Tracker (Dual Axis Tracking) Market: Sales Value (in Million US$), 2018 & 2023
Figure 16: Global: Solar Tracker (Dual Axis Tracking) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 17: Global: Solar Tracker (Solar Photovoltaic- PV) Market: Sales Value (in Million US$), 2018 & 2023
Figure 18: Global: Solar Tracker (Solar Photovoltaic- PV) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 19: Global: Solar Tracker (Concentrated Solar Power- CSP) Market: Sales Value (in Million US$), 2018 & 2023
Figure 20: Global: Solar Tracker (Concentrated Solar Power- CSP) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 21: Global: Solar Tracker (Concentrated Photovoltaic- CPV) Market: Sales Value (in Million US$), 2018 & 2023
Figure 22: Global: Solar Tracker (Concentrated Photovoltaic- CPV) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 23: Global: Solar Tracker (Utility Sector) Market: Sales Value (in Million US$), 2018 & 2023
Figure 24: Global: Solar Tracker (Utility Sector) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 25: Global: Solar Tracker (Residential Sector) Market: Sales Value (in Million US$), 2018 & 2023
Figure 26: Global: Solar Tracker (Residential Sector) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 27: Global: Solar Tracker (Commercial Sector) Market: Sales Value (in Million US$), 2018 & 2023
Figure 28: Global: Solar Tracker (Commercial Sector) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 29: North America: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 30: North America: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 31: United States: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 32: United States: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 33: Canada: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 34: Canada: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 35: Asia Pacific: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 36: Asia Pacific: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 37: China: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 38: China: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 39: Japan: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 40: Japan: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 41: India: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 42: India: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 43: South Korea: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 44: South Korea: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 45: Australia: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 46: Australia: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 47: Indonesia: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 48: Indonesia: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 49: Others: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 50: Others: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 51: Europe: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 52: Europe: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 53: Germany: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 54: Germany: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 55: France: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 56: France: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 57: United Kingdom: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 58: United Kingdom: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 59: Italy: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 60: Italy: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 61: Spain: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 62: Spain: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 63: Russia: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 64: Russia: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 65: Others: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 66: Others: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 67: Latin America: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 68: Latin America: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 69: Brazil: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 70: Brazil: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 71: Mexico: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 72: Mexico: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 73: Others: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 74: Others: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 75: Middle East and Africa: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
Figure 76: Middle East and Africa: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 77: Global: Solar Tracker Industry: SWOT Analysis
Figure 78: Global: Solar Tracker Industry: Value Chain Analysis
Figure 79: Global: Solar Tracker Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: Global: Solar Tracker Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Solar Tracker Market Forecast: Breakup by Type (in Million US$), 2024-2032
Table 3: Global: Solar Tracker Market Forecast: Breakup by Tracking Type (in Million US$), 2024-2032
Table 4: Global: Solar Tracker Market Forecast: Breakup by Technology (in Million US$), 2024-2032
Table 5: Global: Solar Tracker Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 6: Global: Solar Tracker Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 7: Global: Solar Tracker Market Structure
Table 8: Global: Solar Tracker Market: Key Players

Companies Mentioned

  • Arctech Solar Holding Co. Ltd.
  • Array Technologies Inc.
  • Convert Italia SpA (Valmont Industries Inc.)
  • DEGER energie GmbH & Co KG
  • First Solar Inc.
  • Nextracker Inc. (Flex Ltd.)
  • Powerway Renewable Energy Co. (SinoTech Power Group)
  • Soltec Energias Renovables S.L
  • Sunpower Corporation (Total S.A.)

Methodology

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Table Information

Report AttributeDetails
No. of Pages148
PublishedMarch 2024
Forecast Period2023 - 2032
Estimated Market Value ( USD ) in 2023 $ 6.6 Billion
Forecasted Market Value ( USD ) by 2032 $ 30.2 Billion
Compound Annual Growth Rate18.4%
Regions CoveredGlobal
No. of Companies Mentioned9

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