Press release
2023 Solar Tracker Global Market | Insights, Industry Outlook, Growing Trends And Top Key Players include NEXTracker Inc., Array Technologies Inc., PVHardware, Arctech Solar, Soltec Trackers
Solar Tracker Market
As per the Solar Tracker market report by The Business Research Company, an increase in the number of solar panel installations across the globe is expected to propel the growth of the solar tracker market. Increasing government shifts toward renewable energy projects and growing investment by residential customers towards environmentally friendly energy sources have contributed to strong growth in solar panel installations across the globe. The rapid growth in solar panel installations is expected to boost demand for solar trackers, as they are widely used to enhance energy output and efficiency in new installations.
The global solar tracker market size grew from $7.84 billion in 2022 to $9.26 billion in 2023 at a compound annual growth rate (CAGR) of 18.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The solar tracker market size is expected to grow to $16.91 billion in 2027 at a CAGR of 16.2%.
Read More On The Solar Tracker Market Report Here:
https://www.thebusinessresearchcompany.com/report/solar-tracker-global-market-report
Major competitors in the Solar Tracker market include NEXTracker Inc., Array Technologies Inc., PVHardware, Arctech Solar, Soltec Trackers, Nclave Renewable, Convert Italia, STI Norland, Soluciones Tecnicas Integrales Norland SL, Nextracker Inc (Flex Ltd), Scorpius Trackers, Gonvarri Steel Services, GameChange Solar, Solar Steel, and Abengoa Solar.
The Solar Tracker market is segmented -
• By Axis Type: Single Axis, Dual Axis
• By Technology: Solar Photovoltaic (PV), Concentrated Solar Power (CSP), Concentrated Photovoltaic (CPV)
• By Application: Residential, Commercial & Industrial, Utility
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Solar Tracker market.
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The solar tracker refer to a system that positions solar panels at an angle relative to the sun to absorb more sunlight and generate more electricity. Active solar tracking systems utilize powered ymachinery such as gears and motors to move solar panels, whereas passive tracker attains motion by heating compressed liquid by the sun.
The Table Of Content For The Solar Tracker Market Include:
1. Executive Summary
2. Solar Tracker Market Characteristics
3. Solar Tracker Market Trends And Strategies
4. Solar Tracker Market - Macro Economic Scenario
5. Solar Tracker Market Size And Growth
………
28. Key Mergers And Acquisitions In The Solar Tracker Market
29. Solar Tracker Market Future Outlook and Potential Analysis
30. Appendix
The "Global Solar Tracker Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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