Press release
Dual Axis Solar Tracker Market Set to Reach $11.24 Billion by 2029 with 10.7% Yearly Growth
Dual Axis Solar Tracker Market
The growth of the dual-axis solar tracker market is predicted to be driven by the rising demand for renewable energy. Renewable energy, derived from natural resources, is not only infinitely available but also environmentally friendly. In contrast to finite fossil fuels, which contribute to environmental damage, these renewable sources offer a more sustainable and eco-friendly alternative. A dual-axis solar tracker plays a key role in improving the practicality, reliability, and economic feasibility of solar power installations, thereby encouraging the wide-scale acceptance and successful implementation of solar energy as a reliable and sustainable source of power. For example, data from the Energy Information Administration (EIA), a US federal agency responsible for official energy statistics and information, revealed in March 2023, that the combined contributions from wind and solar energy to the total generation rose from 12% in 2021 to 14% in 2022. For the first time, renewable energy production even surpassed coal and nuclear energy. This rising demand for renewable energy is anticipated to drive the growth of the dual-axis solar tracker market.
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How will the growth rate of the dual axis solar tracker market shape industry trends by 2034?
There has been notable growth in the dual axis solar tracker market in recent times. It is predicted to surge from $6.63 billion in 2024 to $7.49 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 13.0%. The unprecedented growth observed in previous years is due to factors such as escalating needs for energy efficiency, supportive government incentives and policies, declining prices of solar panels, and increased awareness about the environmental damage caused by conventional energy sources.
The market size of dual axis solar trackers is anticipated to experience exponential growth in the forthcoming years, culminating in a total worth of $11.24 billion by 2029, with a compound annual growth rate (CAGR) of 10.7%. The growth expected in this forecast period can be credited to environmental concerns, adherence to global climate accords, falling costs associated with dual-axis tracker technology, and improved efficiency of solar panels. The most significant trends expected during this forecast period are clever and interconnected trackers, mixed solar tracking systems, the integration of machine learning and AI technology, and automated cleaning solutions.
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What are the emerging trends shaping the future of the dual axis solar tracker market?
Major corporations involved in the dual-axis solar tracker market are investing in innovative product development. One example is Skywings, the inaugural dual-row solar tracker that incorporates a multi-point drive mechanism. This design solves numerous challenges in solar energy manufacturing and emphasizes maximizing energy output, reducing the levelized energy cost, and enhancing the stability of solar tracking systems. A dual-row solar tracker pertains to a solar tracking system that ensures optimal alignment of solar panels for superior sun exposure. For instance, in September 2022, Arctech Solutions Pvt. Ltd., a technological solutions firm based in India, unveiled its newest dual-row solar tracker, Skywings. The product features a unique multi-point drive mechanism, making it the globe's first dual-row solar tracker compatible with hilly terrain. Its patented bidirectional slew drives offer simultaneous movement of two tracker rows, and its ability to tolerate undulation in adjacent rows has seen an increase to 15% in east/west and north/south directions. The tracker also provides real-time shade avoidance, which has potential to enhance energy production by 8%, and it can work in tandem with a cleaning robot to augment energy output.
Which primary segments of the dual axis solar tracker market are driving growth and industry transformations?
The dual axis solar tracker market covered in this report is segmented -
1) By Product Type: Single Axis, Dual Axis, Azimuth-Altitude Dual Axis
2) By Technology: Solar Photovoltaic, Concentrated Solar Power, Concentrated Photovoltaic
3) By Application: Utility, Commercial, Residential
Subsegments:
1) By Single Axis: Horizontal Single Axis Trackers, Vertical Single Axis Trackers
2) By Dual Axis: Active Dual Axis Trackers, Passive Dual Axis Trackers
3) By Azimuth-Altitude Dual Axis: Azimuth-Altitude Trackers With Active Control, Azimuth-Altitude Trackers With Passive Control
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Which geographical regions are pioneering growth in the dual axis solar tracker market?
Asia-Pacific was the largest region in the dual axis solar tracker market in 2024. The regions covered in the dual axis solar tracker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the dual axis solar tracker market landscape?
Major companies operating in the dual axis solar tracker market are PARU Corporation, Trina Solar Co. Ltd., First Solar Inc., NEXTracker Inc., SunPower Corporation, Array Technologies Inc., Soitec S.A., Soltec Power Holdings S.A., Arctech Solar Holding Co. Ltd., DEGERenergie GmbH & Co. KG, ADES International Holding plc, Sun Action Trackers LLC, Reutech Radar Systems Pty Ltd., Energia Ercam S.A., Abengoa Solar India Pvt. Ltd., AllEarth Renewables Inc., Mecasolar SL, Titan Tracker Ltd., Powerway Corporation, Haosolar Co. Ltd, Kirchner Solar Group GmbH, Mechatron LLC, Moser LLC, Shandong Huayue New Energy Co. Ltd., Targray Technology International Inc., SunTactics Inc., Cabanillas Ingenieros S.L., Amberroot Systems Inc., HeliosLite SAS
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What Is Covered In The Dual Axis Solar Tracker Global Market Report?
• Market Size Forecast: Examine the dual axis solar tracker market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the dual axis solar tracker market for a structured understanding.
• Key Players Overview: Analyze major players in the dual axis solar tracker market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the dual axis solar tracker market.
• Segment Contributions: Evaluate how different segments drive overall growth in the dual axis solar tracker market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the dual axis solar tracker market.
• Industry Challenges: Identify potential risks and obstacles affecting the dual axis solar tracker market.
• Competitive Landscape: Review strategic developments in the dual axis solar tracker market, including expansions, agreements, and new product launches.
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