Solar Tracker Installation Market By Type, By End-Use, and By Region 2030

The Solar Tracker Installation Market is poised for robust growth globally, driven by the rising adoption of trackers in utility-scale PV projects and increasing focus on improving solar plant performance.

The solar tracker installation market remains upbeat, fueled by the growing adoption of trackers in utility-scale solar projects globally and focus on enhancing power generation performance. This article offers a comprehensive solar tracker installation market analysis including size, share, trends, drivers, challenges and key companies.

Solar Tracker Installation Market Statistics and Highlights:

● Global solar tracker installation market size to reach USD 555.1 Billion by 2030, increasing from the value of USD 205.2 Billion in 2021 progressing at a CAGR of 11.8% during 2022-2030.
● Asia Pacific captured dominant revenue share in the year 2021.
● Single-axis trackers remain highly preferred, holding dominant share in the year 2021.
● Surging utility-scale PV capacity additions underpin installation demand.

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Analysis of Key Solar Tracker Installation Market Dynamics:

The solar tracker installation market is expected to grow significantly in the coming years, driven by the increasing adoption of trackers in utility-scale PV projects. Trackers allow solar panels to track the sun's movement throughout the day, which increases the amount of energy they generate. This can lead to a 20-30% increase in power generation compared to fixed-tilt solar panels. However, the high cost of trackers is a major barrier to their adoption. Trackers can be two to three times more expensive than fixed-tilt solar panels. This is due to the cost of the tracker mechanism, as well as the additional labor and materials required to install them. To overcome this barrier, tracker manufacturers are working to reduce the cost of their products. They are also developing new technologies that make trackers easier to install and maintain. These innovations are expected to make trackers more affordable and accessible to a wider range of customers. As the cost of trackers continues to decrease, their adoption is expected to increase. This will lead to a significant growth in the solar tracker installation market.

Solar Tracker Installation Latest Innovations and Trends:

● Multi-point drive trackers and balanced tracking systems to improve reliability.
● Robotic process automation for streamlining tracker installations.
● Smarter control algorithms and usage of bifacial modules to boost yields.
● Lightweight and corrosion-resistant materials to enhance lifespans.
● Drone-based inspections for tracker arrays and predictive maintenance.

Major Factors Driving Market Growth:

● Growing utility-scale PV capacity additions requiring trackers for optimal yields.
● Government incentives and renewable purchase obligations boosting solar installations.
● Advancements in motor drives, control systems and materials used in tracker designs.
● Rising number of solar developers and EPC contractors supporting the installation ecosystem.
● Performance benefits such as higher energy yields and reduced LCOE.

Key Challenges Hindering Market Potential:

● Higher upfront costs of procuring and installing trackers.
● Optimizing trackers for different PV technologies like thin film, bifacial etc.
● Meeting specialized wind loading requirements for different geographies.
● O&M challenges related to motor, gearbox and controller failures.
● Lack of common standards regarding tracker testing and certifications.

Segmentation:

Based on the Type
● Horizontal type
● Vertical type
● Dual axis type
● Single axis type

Based on the End-Use

● Residential uses
● Commercial uses
● Industrial uses

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Regional Solar Tracker Installation Outlook:

Asia Pacific dominated global installations supported by countries like China, India. North America and Middle East & Africa represent high-growth markets presently. Europe also accounts for a significant share.

Prominent Companies Offering Tracker Installation Services:

Leading players include Arctech, Array Technologies, Soltec, Nextracker, STI Norland, Convert Italia, PV Hardware, NEXTracker, and GameChange Solar among others.

Conclusion:

The solar tracker installation marketplace is poised for strong growth globally, aided by surging utility-scale PV capacity additions and focus on performance optimization.

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