Press release
Single-Axis Solar Tracker Market to Reach USD 75.30 Bn by 2030, Growing at 19.1% CAGR
Single Axis Solar Tracker Market
The global Single-Axis Solar Tracker Market is experiencing remarkable growth due to the increasing demand for renewable energy sources, particularly solar power. Single-axis solar trackers are devices that allow solar panels to follow the sun's path, maximizing energy capture throughout the day. As the world moves towards more sustainable energy solutions, the single-axis solar tracker market is set to expand significantly in the coming years.
The market size for Single-Axis Solar Trackers was valued at approximately USD 22.15 billion in 2023 and is projected to grow at a robust CAGR of 19.1% from 2024 to 2030. This growth is driven by an increasing global focus on renewable energy, technological advancements in solar tracking systems, and government policies supporting clean energy adoption.
๐๐ซ๐๐ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ง๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/221168/
๐๐ข๐ง๐ ๐ฅ๐-๐๐ฑ๐ข๐ฌ ๐๐จ๐ฅ๐๐ซ ๐๐ซ๐๐๐ค๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐ญ๐ก๐ ๐๐ง๐ข๐ญ๐๐ ๐๐ญ๐๐ญ๐๐ฌ
The U.S. has become one of the major players in the single-axis solar tracker market, driven by the country's robust investment in renewable energy projects. The Biden administration's green energy policies, including the Inflation Reduction Act, which offers tax incentives for renewable energy investments, are further boosting the adoption of solar tracking technologies. Companies like First Solar, Array Technologies, and NextTracker are leading the way in implementing large-scale solar projects across the country, using single-axis trackers for improved energy capture.
๐ฒ๐๐ ๐ป๐๐๐๐ : Continued government incentives and funding for renewable energy projects are spurring the adoption of solar tracking technologies.
๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ฒ: With more solar farms being developed across the U.S., there is a significant opportunity for suppliers of solar trackers to expand their presence.
๐๐ข๐ง๐ ๐ฅ๐-๐๐ฑ๐ข๐ฌ ๐๐จ๐ฅ๐๐ซ ๐๐ซ๐๐๐ค๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐ข๐ง ๐๐ข๐๐ญ๐ง๐๐ฆ
Vietnam is emerging as a significant player in the solar energy sector due to its favorable geographic location and strong government support for clean energy. The country is increasingly adopting solar technology, including single-axis solar trackers, to harness its abundant sunlight.
๐ฒ๐๐ ๐ป๐๐๐๐ : Vietnam's commitment to achieving 50% renewable energy by 2050 presents a major opportunity for solar tracker manufacturers.
๐ถ๐๐๐๐๐๐๐๐๐๐:Global companies such as Trina Solar and Sungrow Power Supply are exploring partnerships and joint ventures in Vietnam to tap into the growing solar market.
๐๐ข๐ง๐ ๐ฅ๐-๐๐ฑ๐ข๐ฌ ๐๐จ๐ฅ๐๐ซ ๐๐ซ๐๐๐ค๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐๐๐ฉ๐๐ง
Japan's focus on enhancing its solar energy capacity in the wake of the Fukushima disaster has led to increased demand for efficient solar tracking systems. Japan's Kyocera Corporation, Shizen Energy, and other local players are utilizing single-axis trackers to improve solar panel efficiency and energy generation.
๐ฒ๐๐ ๐ป๐๐๐๐ : As part of its 2030 renewable energy target, Japan is rapidly adopting solar technologies, creating a growing demand for solar trackers.
๐ฎ๐๐๐๐๐ ๐ท๐๐๐๐๐๐๐๐: The Japanese government's continued commitment to supporting solar initiatives positions the market for significant growth.
๐๐ข๐ง๐ ๐ฅ๐-๐๐ฑ๐ข๐ฌ ๐๐จ๐ฅ๐๐ซ ๐๐ซ๐๐๐ค๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐ข๐ง ๐๐จ๐ฎ๐ญ๐ก ๐๐จ๐ซ๐๐
South Korea's renewable energy sector is expanding quickly as the country transitions to a cleaner energy mix. Companies like Hyundai Energy Solutions are increasingly using single-axis trackers in solar power plants to improve solar energy output.
๐ฒ๐๐ ๐ป๐๐๐๐ : South Korea's Green New Deal initiative, which aims to achieve 20% renewable energy by 2030, is stimulating solar power investment.
๐ฎ๐๐๐๐๐ ๐ท๐๐๐๐๐๐๐๐: The country's government funding for solar projects is providing ample opportunities for single-axis solar tracker manufacturers.
๐๐ข๐ง๐ ๐ฅ๐-๐๐ฑ๐ข๐ฌ ๐๐จ๐ฅ๐๐ซ ๐๐ซ๐๐๐ค๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ ๐ข๐ง ๐๐ข๐ง๐ ๐๐ฉ๐จ๐ซ๐
Singapore is one of the leading countries in Southeast Asia in terms of solar energy adoption. With limited land availability, innovations in solar tracking technology have become essential for maximizing energy capture. Sungrow Power Supply and other players are focusing on making solar projects more efficient in urban spaces through the use of single-axis trackers.
๐ฒ๐๐ ๐ป๐๐๐๐ : Singapore's push towards a Green Plan 2030 aims to quadruple solar energy capacity, enhancing demand for solar trackers.
๐ถ๐๐๐๐๐๐๐๐๐๐๐๐: With limited land, single-axis solar trackers offer solutions for maximizing energy output in a constrained environment.
๐๐ข๐ง๐ ๐ฅ๐-๐๐ฑ๐ข๐ฌ ๐๐จ๐ฅ๐๐ซ ๐๐ซ๐๐๐ค๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง ๐ข๐ง ๐๐ฎ๐ซ๐จ๐ฉ๐
Europe continues to be a frontrunner in renewable energy, and the single-axis solar tracker market in the region is highly competitive. Companies like Soltec, SMA Solar, and Trina Solar have solidified their presence in the European solar market.
๐ช๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐ป๐๐๐๐ : Recent mergers and acquisitions in the region, such as SMA Solar's acquisition of a controlling stake in Soltec, have boosted market consolidation.
๐ฎ๐๐๐๐๐ ๐ถ๐๐๐๐๐๐:With European nations like Germany, Spain, and Italy leading the charge in solar energy generation, single-axis solar trackers are likely to play a pivotal role in meeting ambitious renewable energy targets.
๐๐๐๐๐ง๐ญ ๐๐๐ซ๐ ๐๐ซ๐ฌ ๐๐ง๐ ๐๐๐ช๐ฎ๐ข๐ฌ๐ข๐ญ๐ข๐จ๐ง๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐จ๐ฅ๐๐ซ ๐๐ซ๐๐๐ค๐๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ
The global single-axis solar tracker market has witnessed several key mergers and acquisitions, enhancing the capabilities of leading firms to cater to increasing demand. Companies are combining resources to enhance technological advancements and broaden their geographical reach.
๐ต๐๐๐๐๐๐ ๐ด&๐จ: ๐จ๐๐๐๐ ๐ป๐๐๐๐๐๐๐๐๐๐๐, a leading player in the U.S., acquired ๐๐ก๐ ๐๐๐ ๐๐ฅ๐๐๐ง ๐๐ง๐๐ซ๐ ๐ฒ to expand its market reach in the utility-scale solar energy sector. This move allows the company to integrate innovative solar tracking solutions with its extensive project development network.
๐บ๐๐๐๐๐๐๐๐ ๐จ๐๐๐๐๐๐๐๐: ๐๐ซ๐ข๐ง๐ ๐๐จ๐ฅ๐๐ซ has entered into strategic alliances with local companies in emerging markets such as Vietnam and Southeast Asia to boost its footprint in high-growth regions.
๐๐จ ๐๐๐ฅ๐ฏ๐ ๐๐๐๐ฉ๐๐ซ ๐ข๐ง๐ญ๐จ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก, ๐ค๐ข๐ง๐๐ฅ๐ฒ ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ญ๐ก๐ ๐๐จ๐ฅ๐ฅ๐จ๐ฐ๐ข๐ง๐ ๐ฅ๐ข๐ง๐ค: https://www.maximizemarketresearch.com/request-sample/221168/
๐๐ข๐ง๐ ๐ฅ๐ ๐๐ฑ๐ข๐ฌ ๐๐จ๐ฅ๐๐ซ ๐๐ซ๐๐๐ค๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
๐๐ ๐ท๐๐๐ ๐๐๐ ๐ป๐๐๐
Photovoltaic (PV) Trackers
Concentrated Solar Power (CSP) Trackers
๐๐ ๐จ๐๐๐ ๐น๐๐๐๐๐๐๐
Horizontal Single-Axis Trackers
Vertical Single-Axis Trackers
๐๐ ๐จ๐๐๐๐๐๐๐๐๐๐
Residential
Commercial
Utility-Scale
The market is divided into two product types: photovoltaic (PV) trackers and concentrated solar power (CSP) trackers. Photovoltaic (PV) Trackers dominated the Single Axis Solar Tracker Market in 2023 and are likely to maintain their dominance during the forecast period. Photovoltaic (PV) solar panels play a significant role in the solar energy landscape due to their diverse applications. These panels are widely used in many situations, including residential, commercial, and utility-scale solar installations.
๐๐จ ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ญ๐ก๐ข๐ฌ ๐ฌ๐ฎ๐๐ฃ๐๐๐ญ ๐ฆ๐๐ญ๐ญ๐๐ซ ๐๐ฎ๐ซ๐ญ๐ก๐๐ซ, ๐ฉ๐ฅ๐๐๐ฌ๐ ๐๐ฅ๐ข๐๐ค ๐จ๐ง ๐ญ๐ก๐ ๐ฅ๐ข๐ง๐ค ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐๐: https://www.maximizemarketresearch.com/request-sample/221168/
๐๐ข๐ง๐ ๐ฅ๐ ๐๐ฑ๐ข๐ฌ ๐๐จ๐ฅ๐๐ซ ๐๐ซ๐๐๐ค๐๐ซ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
1. Nextracker Inc.
2. Array Technologies Inc.
3. Soltec Power Holdings S.L.U.
4. ZNShine New Energy Technology Co., Ltd.
5. Arctech Solar Holding Co., Ltd.
6. Trina Solar Co., Ltd.
7. Huawei Technologies Co., Ltd.
8. Ingeteam Power Electronics S.A.
9. Enel Green Power S.p.A.
10. BayWa r.e. New Energies GmbH
11. Amerisolar Inc.
12. New England Clean Energy (NEC)
13. FTC Solar, Inc.
14. GameChange Solar
15. Solvest Inc.
16. Deger Canada Inc
17. trackerPI GmbH
18. Claren Solar
19. PV Hardware Ltd.
20. MKS Instruments, Inc.
21. SolAero Technologies LLC
22. Solar Power Systems Ltd.
23. NewEra Solar Technologies
๐๐จ๐ง'๐ญ ๐ฆ๐ข๐ฌ๐ฌ ๐จ๐ฎ๐ญ ๐จ๐ง ๐ญ๐ก๐ ๐ญ๐ซ๐๐ง๐๐ข๐ง๐ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ฉ๐ฎ๐๐ฅ๐ข๐ฌ๐ก๐๐ ๐๐ฒ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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CRM Analytics Market https://www.maximizemarketresearch.com/market-report/global-crm-analytics-market/66433/
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๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ
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