Press release
Solar Tracker Market, valued at USD 13.30 billion in 2021, is projected to reach USD 54.19 billion by 2029, exhibiting a CAGR of 19.2% during the forecast period. The market growth is driven by the rising demand for energy, growing environmental concern,
Solar Tracker Market
The solar tracker market report aims to provide a comprehensive analysis of the global solar tracker industry. The scope of the report encompasses various aspects of the market, including market size, growth trends, key players, market dynamics, and technological advancements. The report covers both the historical and forecast period to provide a complete understanding of the market's evolution over time.
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In terms of research methodology, the report employs a systematic approach that involves gathering data from primary and secondary sources. Primary sources include interviews with industry experts, key opinion leaders, and stakeholders, who provide valuable insights into the market. Secondary sources include company websites, annual reports, financial reports, whitepapers, and statistical databases.
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What are Solar Tracker Market Dynamics:
The solar tracker market dynamics are influenced by various factors that impact the demand, growth, and competitiveness of the market. These dynamics shape the market landscape and drive the adoption of solar tracker systems worldwide.
One of the key dynamics driving the solar tracker market is the increasing focus on renewable energy sources and the growing demand for clean and sustainable energy solutions. Solar trackers enable solar panels to track the sun's movement throughout the day, maximizing the energy output and improving the overall efficiency of solar power generation. As governments and organizations worldwide emphasize the transition to renewable energy, the demand for solar tracker systems is expected to witness significant growth.
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Another important dynamic is the declining costs of solar energy technologies, including solar trackers. Technological advancements and economies of scale have led to the reduction in the prices of solar trackers, making them more affordable and accessible. This has further fueled the adoption of solar tracker systems, as they offer better returns on investment and shorter payback periods compared to fixed-tilt systems.
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Solar Tracker Market Market Regional Insights:
North America is a prominent market for solar trackers due to the increasing adoption of renewable energy and favorable government initiatives. The United States, in particular, has witnessed significant growth in solar installations, with several large-scale solar projects incorporating solar tracker technology. The region is also characterized by technological advancements, research and development activities, and a supportive regulatory framework, all of which contribute to the market growth.
Europe is another significant market for solar trackers, driven by the region's strong emphasis on renewable energy and climate change mitigation. Countries such as Germany, Spain, and Italy have witnessed substantial installations of solar trackers, primarily in utility-scale solar projects. Additionally, the declining costs of solar technologies and favorable policies, such as feed-in tariffs and renewable energy targets, have further accelerated market growth in the region.
What is Solar Tracker Market Segmentation:
by Type
• Single Axis
• Dual Axis
by Application
• Residential
• Commercial
• Utility
by Technology
• Solar Photovoltaic (PV)
• Concentrated Solar Power (CSP)
• Concentrated Photovoltaic (CPV)
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Who are Solar Tracker Market Key Players:
• Array Technologies, Inc. (U.S.)
• NEXTracker (U.S.)
• Array Technologies (U.S.)
• Trina Solar (China)
• SunPower Corporation (U.S.)
• ArcelorMittal Projects (Luxemburg)
• Soltec (Spain)
• Convert Italia (Italy)
• PV Hardware (Spain)
• Arctech Solar (U.S.)
• Solar Steel (Spain)
• Ideematec (Germany)
• Scorpius Trackers (India)
• Sun Action Trackers (U.S.)
• DEGERENERGIE GMBH & CO. KG (Germany)
• GameChange Solar (New York)
• STI Norland (Spain)
• MECASOLAR (Spain)
• Mechatron (India)
• OPTIMUM TRACKER (France)
• Powerway Renewable Energy Co. Ltd. (China)
• Schletter (Germany)
Table of content for the Solar Tracker Market includes:
1. Global Solar Tracker Market: Research Methodology
1. Global Solar Tracker Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Solar Tracker Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Global Solar Tracker Market Market Segmentation
• Global Market, by Type (2022-2029)
• Global Market, by Application (2022-2029)
• Global Market, by Technology (2022-2029)
5. Regional Solar Tracker Market Market (2021-2029)
• Regional Market, by Type (2022-2029)
• Regional Market, by Application (2022-2029)
• Regional Market, by Technology (2022-2029)
• Regional Market, by Country (2022-2029)
6. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Product
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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