Press release
Solar Tracker Market Size to Grow $22.87 billion by 2029 at a CAGR of 17.3% During Forecast Period
Browse 107 market data Tables and 57 Figures spread through 166 Pages and in-depth TOC on "Solar Tracker Market"
According to a research report "Solar Tracker Market [https://www.marketsandmarkets.com/Market-Reports/solar-tracker-market-195024219.html?utm_source=ABNewswire&utm_medium=paidpr] by Axis Type (Single-axis, Dual-axis), Type (Grid-connected, Off-grid), Application (Utility, Non-utility), Region (Asia Pacific, North America, Europe, Latin America, Middle East & Africa) - Global Forecast to 2029", the global Solar Tracker Market is projected to reach USD 22.87 billion by 2029 from an estimated USD 10.32 billion in 2024, at a CAGR of 17.3%. The solar tracker market is witnessing significant growth driven by the global transition to sustainable energy and the need to boost solar power generation efficiency. The rapid scaling of solar energy infrastructure, particularly in grid-tied utility-scale projects, drives the demand for advanced solar tracking systems. These trackers enhance energy capture by optimizing panel orientation relative to solar incidence angles. Contributing factors to this trend include increasing land-use efficiency mandates, declining costs of solar components, and a heightened emphasis on minimizing the levelized cost of electricity (LCOE). Furthermore, the integration of emerging digital technologies and rising electrification demands in developing regions further propels market dynamics in this sector.
Download PDF Brochure - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=195024219 [https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=195024219&utm_source=ABNewswire&utm_medium=paidpr]
Based on axis type, dual-axis segment is expected to record higher CAGR during forecast period
Dual-axis solar trackers are expected to record a higher CAGR during the forecast period. The growth of dual-axis solar trackers can be attributed to their capacity for precise solar tracking in both vertical and horizontal planes, which effectively maximizes solar irradiance capture and enhances energy yield throughout the day. These systems are particularly advantageous in regions characterized by high solar insolation and spatial constraints, contributing to improved overall operational efficiency. Their deployment in concentrated solar power (CSP) applications and large-scale utility projects is increasing. Moreover, the growing emphasis on optimizing energy output and minimizing the levelized cost of electricity is driving their global adoption in the renewable energy sector.
Based on application, non-utility segment is expected to record higher CAGR during forecast period
Based on application, the non-utility segment is expected to register a higher CAGR in the solar tracker market during the forecast period. This growth is driven by the increasing adoption of solar energy solutions by commercial, industrial, and residential users seeking energy independence and cost savings. Businesses are integrating solar trackers to maximize rooftop or ground-mounted system efficiency. Government incentives, sustainability mandates, and rising electricity prices encourage non-utility sectors to invest in solar tracking technologies. Additionally, the growing environmental awareness and the shift toward decentralized energy systems support the rapid expansion of this segment.
Asia Pacific is expected to be fastest-growing region in solar tracker market
Asia Pacific is projected to be the fastest-growing region in the solar tracker market, driven by the increasing adoption of solar photovoltaics, improved commercial viability and Increased investor awareness. The last decade saw a surge in solar growth, drastically increasing the global solar PV market. Initially driven by European installations, since 2012, the market has been led by the Asia-Pacific region, which accounted for 34.1% of annual additions in 2023. While Europe neglected solar PV for most of the second decade of this century, the Asia Pacific region emerged as the new undisputed leader in global solar PV deployment, driven by three of its major economies - China, India, and Japan. China largely dominates the solar tracker. Significant discrepancies between countries are also identified. While Australia was the first country to reach the 1 kW per capita mark in 2021, several nations worldwide are still lagging.
Request Sample Copy - https://www.marketsandmarkets.com/requestsampleNew.asp?id=195024219 [https://www.marketsandmarkets.com/requestsampleNew.asp?id=195024219&utm_source=ABNewswire&utm_medium=paidpr]
Some major players in the solar tracker market are Nextracker Inc. (US), Array Technologies Inc. (Mexico), PVHardware (Spain), Soltec (US), Trinasolar (China), ADES TEMPERO GROUP (Spain), Gamechange Solar (US), Aivatechnology (US), and ArcelorMittal (Luxembourg). The major strategies these players adopt include acquisitions, sales contracts, product launches, agreements, alliances, partnerships, and expansions.
About MarketsandMarkets Trademark
MarketsandMarkets Trademark has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report.
MarketsandMarkets Trademark is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.
Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.
The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore Trademark , which integrates research and provides ecosystem-wide visibility into revenue shifts.
In addition, MarketsandMarkets Sales Intelligence enables sales teams to identify high-priority accounts and uncover hidden opportunities, helping them build more pipeline and win more deals with precision.
To find out more, visit www.MarketsandMarkets Trademark .com or follow us on Twitter , LinkedIn and Facebook .
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Trademark INC.
1615 South Congress Ave.Suite 103, Delray Beach,
FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com
Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=solar-tracker-market-size-to-grow-2287-billion-by-2029-at-a-cagr-of-173-during-forecast-period]
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/solar-tracker-market-195024219.html
Legal Disclaimer: Information contained on this page is provided by an independent third-party content provider. ABNewswire makes no warranties or responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you are affiliated with this article or have any complaints or copyright issues related to this article and would like it to be removed, please contact retract@swscontact.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Solar Tracker Market Size to Grow $22.87 billion by 2029 at a CAGR of 17.3% During Forecast Period here
News-ID: 4014267 • Views: …
More Releases from ABNewswire
Native Hawaiian Veteran-Founded Day Job Flex Launches Apparel Celebrating Nurses …
Day Job Flex, a Native Hawaiian, veteran-founded, woman-co-led family business, is creating apparel that honors hard working professionals-starting with nurses-by celebrating both their careers and the passions that define them beyond their day jobs. The company's authentic, community-driven approach stems from experience printing for local businesses, schools and organizations, now expanded to serve professionals whose voices rarely appear in mainstream apparel.
A new apparel brand is challenging the convention that professional…
Father-Son Duo Launches PlayQuest to Bridge the Family Board Game Gap with Award …
PlayQuest LLC, a family-owned board game company founded in 2022, is revolutionizing family game night with educational games designed for children ages 5 and up that adults actually enjoy playing. The company's innovative five-point pledge ensures every game enhances critical skills while delivering engaging gameplay that brings generations together around the table.
A new player has entered the family board game market with a mission to transform game night from a…
From The Farm Candles Launches with Commitment to Natural Ingredients and Sustai …
From The Farm Candles brings farm-fresh authenticity to the home fragrance market with handcrafted candles made exclusively from natural ingredients and premium soy wax. The new venture prioritizes environmental responsibility through recyclable packaging and minimalist production methods that reduce carbon footprint while delivering affordable luxury to candle enthusiasts seeking clean-burning alternatives to mass-produced home fragrance products.
From The Farm Candles has entered the home fragrance market with a refreshing approach that…
Whimsical Keepsakes Launches Handcrafted Memory Collection Just in Time for Holi …
Whimsical Keepsakes, LLC introduces a heartfelt alternative to mass-produced holiday gifts with their collection of personalized, handcrafted keepsakes. The husband-and-wife owned company transforms cherished memories into tangible art, offering everything from woven blankets to engraved jewelry, with 10% of select collections benefiting the Make-A-Wish Foundation.
As holiday shopping season begins, a new company is offering gift-givers an alternative to generic presents that end up in donation boxes. Whimsical Keepsakes, LLC has…
More Releases for Solar
Biohybrid Solar Cell Market Professional Survey Report 2022 - Jinko Solar, JA SO …
The Biohybrid Solar Cell Market Report 2022 provides a comprehensive analysis of observable trends and projections. This research shows how to attract a large number of customers. Our certified crew of economists, researchers, and advisers has made further attempts in projecting the global industry by utilising accredited global Biohybrid Solar Cell market information tools as well as various instruments and ways to successfully review and get information. The research argues…
Home Solar Power System Market Size, Share, Trends, Growth - Tesla, Panasonic So …
The Global Home Solar Power System Market study includes new innovations, market dynamics, strategic profiling in terms of the future market strategies and shares for the subsectors of the industry. This research consists of details related to the size of the industries, the major players, markets, sales volume and value. This study offers a detail data on the historical data pointers as well as forecasts by region/country for the sectors…
Solar PV Module Market Outlook To 2024 - Trina Solar, Canadian Solar Inc., JA So …
Solar PV module market from utility sector has witnessed a substantial growth globally in recent years. In the first quarter of the year, Vietnam's Ministry of Industry and Trade have talked about their FiT scheme related to utility-based solar power projects. Ongoing electrification programs and incentives benefit pertaining to grid connected power generation is surging the demand for on-grid solar PV modules. On-grid connection represented 55% of the overall solar…
Solar Simulator Market Distribution Channel 2019: Spire Solar, Solar Energy Inte …
Solar Simulator Market report aims to examine the developments of market including its market improvements, developments, positions and others.
This report on the Solar Simulator market offers explanatory knowledge on the market parts like dominating players, drivers and restraints, production, revenue, consumption, import and export, and the most effective development within the organization size, deployment type, inside, segmentation comprised throughout this analysis, also major the players have used various strategies such…
Solar PV Module Market By Key Vendors: Trina Solar, Canadian Solar Inc., JA Sola …
UK solar PV module market is set to expand owing to government initiatives towards sustainable energy integration. The export tariff introduced by the UK government facilitates USD 0.06 per unit for the surplus electricity injected back to the grid by the generator. Favorable government reforms with ambitious plan towards carbon footprint reduction will further boost the business outlook.
Request for a sample of this research report @
https://www.gminsights.com/request-sample/detail/1563
Solar PV Module Market size…
Global Solar Thermal Market 2016 Abengoa Solar, SUPCON Solar, Solar Euromed
Global Solar Thermal Market Research Report
The MRS Research Group Solar Thermal report by QY Research represents an inclusive evaluation of the Solar Thermal Market and comprises considerable insights, historical data, facts,and statistical and industry-validated data of the global market.Additionally,it consists of estimated data that is evaluated with the help of suitable set of methodologies and assumptions.The MRS Research Group report research highlights informative data and in-depth analysis of Solar Thermal…
