Global Solar Tracker Market Expected to Reach USD 17,217.7 Million by 2030 with a CAGR of 20.78% | IGR

Infinium Global Research, a leading market research company, has recently published an extensive report on the Global Solar Tracker Market, providing in-depth analysis of various segments and sub-segments. This comprehensive report delves into the impact of drivers, restraints, and macro-indicators on both the global and regional solar tracker market, both in the short term and long term.

The report presents a detailed analysis of trends, forecasts, and dollar values within the global solar tracker market. The market's value in 2022 was reported at USD 3,873.8 million and is projected to reach a substantial USD 17,217.7 million by 2030, with a notable Compound Annual Growth Rate (CAGR) of 20.78% throughout the forecast period.

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Advancing Solar Energy with Solar Trackers

Solar energy has increasingly become a pivotal component of various nations' energy profiles. To harness the sun's energy effectively, photovoltaic panels, reflectors, lenses, and other optical equipment are oriented toward the sun using solar trackers. These trackers play a critical role in positioning the collection system to optimize energy output, considering the sun's position in the sky, which varies with the seasons and time of day. Several factors, such as the amount of direct solar radiation, local feed-in tariffs, installation and operational costs, are taken into account when implementing solar trackers. Two primary types of solar trackers are widely utilized: single-axis and dual-axis trackers. Single-axis trackers are commonly used in conjunction with parabolic and linear Fresnel mirror designs in concentrated solar power systems, while dual-axis tracking is crucial in solar tower applications.

Market Growth Driven by Renewable Energy Adoption

The global solar tracker market is poised for significant growth, primarily fueled by the increasing adoption of renewable energies and the surge in green energy targets. As global energy demand continues to rise, coupled with increasing environmental awareness, the market for solar trackers is set to expand further. Developing countries, grappling with rapid population growth, are also contributing to the growth by adopting renewable sources in power generation. The awareness of maximizing power output further drives the demand for solar trackers. However, challenges such as fluctuating raw material costs and the need for substantial investment could hinder market growth. Nonetheless, integrated technology and new government regulations related to renewable energy are expected to create various growth opportunities for the market.

Regional Insights

In terms of geographical distribution, the solar tracker market is categorized into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to hold a significant market share due to the growing emphasis on renewable energy, coupled with initiatives taken by the U.S. government to promote renewable sources. Asia Pacific is anticipated to witness significant growth in the global solar tracker market, with countries like India, China, and Japan emerging as production hubs for solar trackers. In European regions, the demand for solar power is increasing, with Italy, the U.K., and Germany leading the way in solar tracker adoption.

Segmentation and Key Players

The report on the global solar tracker market provides detailed insights into various segments, including type, technology, and application. The sub-markets under "type" include single axis and dual axis, while the "technology" sub-markets consist of solar photovoltaic, concentrated photovoltaic (CPV), and concentrated solar power (CSP). When it comes to "application," the sub-markets are categorized as utility and non-utility.

The report also profiles leading companies in the market, including Array Technologies, Inc., PVHardware, Arctech Solar Holding Co., Ltd, Nextracker Inc., Soltec Power Holdings S.A., FTC Solar, Valmont Solar, Ideematec, GameChange Solar, and Trina Solar Acquired by (Nclave).

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Table of Content

Chapter 1. Preface

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

2.1. Solar Tracker Market Highlights

2.2. Solar Tracker Market Projection

2.3. Solar Tracker Market Regional Highlights

Chapter 3. Global Solar Tracker Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.3. Porter`s Five Forces Analysis

3.4. IGR-Growth Matrix Analysis

3.4.1. IGR-Growth Matrix Analysis by Type

3.4.2. IGR-Growth Matrix Analysis by Technology

3.4.3. IGR-Growth Matrix Analysis by Application

3.4.4. IGR-Growth Matrix Analysis by Region

3.5. Value Chain Analysis of Solar Tracker Market

Chapter 4. Solar Tracker Market Macro Indicator Analysis

Chapter 5. Company Profiles and Competitive Landscape

5.1. Competitive Landscape in the Global Solar Tracker Market

5.2. Companies Profiles

5.2.1. Array Technologies, Inc.

5.2.2. PVHardware

5.2.3. Arctech Solar Holding Co., Ltd

5.2.4. Nextracker Inc.

5.2.5. Soltec Power Holdings S.A.

5.2.6. FTC Solar

5.2.7. Valmont Solar

5.2.8. Ideematec

5.2.9. GameChange Solar

5.2.10. Trina Solar Acquired by (Nclave)

Chapter 6. Global Solar Tracker Market by Type

6.1. Single Axis

6.2. Dual Axis

Chapter 7. Global Solar Tracker Market by Technology

7.1. Solar Photovoltaic

7.2. Concentrated Photovoltaic (CPV)

7.3. Concentrated Solar Power (CSP)

Chapter 8. Global Solar Tracker Market by Application

8.1. Utility

8.2. Non-utility

Chapter 9. Global Solar Tracker Market by Region 2023-2030

9.1. North America

9.1.1. North America Solar Tracker Market by Type

9.1.2. North America Solar Tracker Market by Technology

9.1.3. North America Solar Tracker Market by Application

9.1.4. North America Solar Tracker Market by Country

9.1.4.1. The U.S. Solar Tracker Market

9.1.4.1.1. The U.S. Solar Tracker Market by Type

9.1.4.1.2. The U.S. Solar Tracker Market by Technology

9.1.4.1.3. The U.S. Solar Tracker Market by Application

9.1.4.2. Canada Solar Tracker Market

9.1.4.2.1. Canada Solar Tracker Market by Type

9.1.4.2.2. Canada Solar Tracker Market by Technology

9.1.4.2.3. Canada Solar Tracker Market by Application

9.1.4.3. Mexico Solar Tracker Market

9.1.4.3.1. Mexico Solar Tracker Market by Type

9.1.4.3.2. Mexico Solar Tracker Market by Technology

9.1.4.3.3. Mexico Solar Tracker Market by Application

9.2. Europe

9.2.1. Europe Solar Tracker Market by Type

9.2.2. Europe Solar Tracker Market by Technology

9.2.3. Europe Solar Tracker Market by Application

9.2.4. Europe Solar Tracker Market by Country

9.2.4.1. Germany Solar Tracker Market

9.2.4.1.1. Germany Solar Tracker Market by Type

9.2.4.1.2. Germany Solar Tracker Market by Technology

9.2.4.1.3. Germany Solar Tracker Market by Application

9.2.4.2. United Kingdom Solar Tracker Market

9.2.4.2.1. United Kingdom Solar Tracker Market by Type

9.2.4.2.2. United Kingdom Solar Tracker Market by Technology

9.2.4.2.3. United Kingdom Solar Tracker Market by Application

9.2.4.3. France Solar Tracker Market

9.2.4.3.1. France Solar Tracker Market by Type

9.2.4.3.2. France Solar Tracker Market by Technology

9.2.4.3.3. France Solar Tracker Market by Application

9.2.4.4. Italy Solar Tracker Market

9.2.4.4.1. Italy Solar Tracker Market by Type

9.2.4.4.2. Italy Solar Tracker Market by Technology

9.2.4.4.3. Italy Solar Tracker Market by Application

9.2.4.5. Rest of Europe Solar Tracker Market

9.2.4.5.1. Rest of Europe Solar Tracker Market by Type

9.2.4.5.2. Rest of Europe Solar Tracker Market by Technology

9.2.4.5.3. Rest of Europe Solar Tracker Market by Application

9.3. Asia Pacific

9.3.1. Asia Pacific Solar Tracker Market by Type

9.3.2. Asia Pacific Solar Tracker Market by Technology

9.3.3. Asia Pacific Solar Tracker Market by Application

9.3.4. Asia Pacific Solar Tracker Market by Country

9.3.4.1. China Solar Tracker Market

9.3.4.1.1. China Solar Tracker Market by Type

9.3.4.1.2. China Solar Tracker Market by Technology

9.3.4.1.3. China Solar Tracker Market by Application

9.3.4.2. Japan Solar Tracker Market

9.3.4.2.1. Japan Solar Tracker Market by Type

9.3.4.2.2. Japan Solar Tracker Market by Technology

9.3.4.2.3. Japan Solar Tracker Market by Application

9.3.4.3. India Solar Tracker Market

9.3.4.3.1. India Solar Tracker Market by Type

9.3.4.3.2. India Solar Tracker Market by Technology

9.3.4.3.3. India Solar Tracker Market by Application

9.3.4.4. South Korea Solar Tracker Market

9.3.4.4.1. South Korea Solar Tracker Market by Type

9.3.4.4.2. South Korea Solar Tracker Market by Technology

9.3.4.4.3. South Korea Solar Tracker Market by Application

9.3.4.5. Australia Solar Tracker Market

9.3.4.5.1. Australia Solar Tracker Market by Type

9.3.4.5.2. Australia Solar Tracker Market by Technology

9.3.4.5.3. Australia Solar Tracker Market by Application

9.3.4.6. Rest of Asia-Pacific Solar Tracker Market

9.3.4.6.1. Rest of Asia-Pacific Solar Tracker Market by Type

9.3.4.6.2. Rest of Asia-Pacific Solar Tracker Market by Technology

9.3.4.6.3. Rest of Asia-Pacific Solar Tracker Market by Application

9.4. RoW

9.4.1. RoW Solar Tracker Market by Type

9.4.2. RoW Solar Tracker Market by Technology

9.4.3. RoW Solar Tracker Market by Application

9.4.4. RoW Solar Tracker Market by Sub-region

9.4.4.1. Latin America Solar Tracker Market

9.4.4.1.1. Latin America Solar Tracker Market by Type

9.4.4.1.2. Latin America Solar Tracker Market by Technology

9.4.4.1.3. Latin America Solar Tracker Market by Application

9.4.4.2. Middle East Solar Tracker Market

9.4.4.2.1. Middle East Solar Tracker Market by Type

9.4.4.2.2. Middle East Solar Tracker Market by Technology

9.4.4.2.3. Middle East Solar Tracker Market by Application

9.4.4.3. Africa Solar Tracker Market

9.4.4.3.1. Africa Solar Tracker Market by Type

9.4.4.3.2. Africa Solar Tracker Market by Technology

9.4.4.3.3. Africa Solar Tracker Market by Application

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Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of Solar Tracker.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

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