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PUBLISHER: IMARC | PRODUCT CODE: 1451346
PUBLISHER: IMARC | PRODUCT CODE: 1451346
Solar Tracker Market Report by Type, Tracking Type, Technology (Solar Photovoltaic, Concentrated Solar Power, Concentrated Photovoltaic ), Application, and Region 2024-2032
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PAGES: 148 Pages
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The global solar tracker market size reached US$ 6.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 30.2 Billion by 2032, exhibiting a growth rate (CAGR) of 17.9% during 2024-2032
A solar tracker refers to the device used for orienting a solar panel or solar reflector toward the sun to harness additional sunlight. The trackers are attached to the solar panels to alter their position in sync with the sun irrespective of the weather conditions. This ensures that the solar modules are correctly positioned to gather maximum solar energy and to improve the overall efficiency of the solar panels. Based on the design and tracking mechanism, some of the commonly used variants include active, passive, single-axis and dual-axis trackers. They offer various advantages, such as the generation of additional energy, availability in binary formats and minimal space requirements.
Solar Tracker Market Trends:
A significant increase in the number of solar panel installations across the globe is one of the key factors driving the growth of the market. Furthermore, the implementation of favorable government policies promoting various solar energy projects driving the market growth. Due to the increasing preference for renewable energy sources among the masses and the growing emphasis on utility-scale projects, solar trackers are being deployed across the residential, commercial and industrial sectors. Additionally, various product innovations, such as the development of more efficient and cost-effective solar photovoltaics and concentrated photovoltaics, are acting as other major growth-inducing factors. These systems are innovatively designed to facilitate low-cost power generation. Other factors, including increasing off-grid energy demand, along with the integration of cloud computing and the Internet of Things (IoT)-based solutions, are expected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global solar tracker market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, tracking type, technology and application.
Breakup by Type:
Active Solar Tracker
Passive Solar Tracker
Breakup by Tracking Type:
Single Axis Tracking
HSAT (Horizontal Single Axis Trackers)
VSAT (Vertical Single Axis Trackers)
TSAT (Titled Single Axis Trackers)
PSAT (Polar Aligned Single Axis Trackers)
Dual Axis Tracking
TTDAT (Tip-Tilt Dual Axis Trackers)
AADAT (Azimuth-Altitude Dual Axis Trackers)
Breakup by Technology:
Solar Photovoltaic (PV)
Concentrated Solar Power (CSP)
Concentrated Photovoltaic (CPV)
Breakup by Application:
Utility Sector
Residential Sector
Commercial Sector
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Arctech Solar Holding Co. Ltd., Array Technologies Inc., Convert Italia SpA (Valmont Industries Inc.), DEGER energie GmbH & Co KG, First Solar Inc., Nextracker Inc. (Flex Ltd.), Powerway Renewable Energy Co. (SinoTech Power Group), Soltec Energias Renovables S.L. and Sunpower Corporation (Total S.A.).
Key Questions Answered in This Report
- 1. What was the size of the global solar tracker market in 2023?
- 2. What is the expected growth rate of the global solar tracker market during 2024-2032?
- 3. What are the key factors driving the global solar tracker market?
- 4. What has been the impact of COVID-19 on the global solar tracker market?
- 5. What is the breakup of the global solar tracker market based on the type?
- 6. What is the breakup of the global solar tracker market based on the tracking type?
- 7. What is the breakup of the global solar tracker market based on the technology?
- 8. What is the breakup of the global solar tracker market based on the application?
- 9. What are the key regions in the global solar tracker market?
- 10. Who are the key players/companies in the global solar tracker market?
Product Code: SR112024A2401
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Solar Tracker Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Active Solar Tracker
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Passive Solar Tracker
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Tracking Type
- 7.1 Single Axis Tracking
- 7.1.1 Market Trends
- 7.1.2 Major Types
- 7.1.2.1 HSAT (Horizontal Single Axis Trackers)
- 7.1.2.2 VSAT (Vertical Single Axis Trackers)
- 7.1.2.3 TSAT (Titled Single Axis Trackers)
- 7.1.2.4 PSAT (Polar Aligned Single Axis Trackers)
- 7.1.3 Market Forecast
- 7.2 Dual Axis Tracking
- 7.2.1 Market Trends
- 7.2.2 Major Types
- 7.2.2.1 TTDAT (Tip-Tilt Dual Axis Trackers)
- 7.2.2.2 AADAT (Azimuth-Altitude Dual Axis Trackers)
- 7.2.3 Market Forecast
8 Market Breakup by Technology
- 8.1 Solar Photovoltaic (PV)
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Concentrated Solar Power (CSP)
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Concentrated Photovoltaic (CPV)
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
9 Market Breakup by Application
- 9.1 Utility Sector
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Residential Sector
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Commercial Sector
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Arctech Solar Holding Co. Ltd.
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.2 Array Technologies Inc.
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.3 Convert Italia SpA (Valmont Industries Inc.)
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.3.3 Financials
- 15.3.4 DEGER energie GmbH & Co KG
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.4.3 Financials
- 15.3.5 First Solar Inc.
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.5.3 Financials
- 15.3.5.4 SWOT Analysis
- 15.3.6 Nextracker Inc. (Flex Ltd.)
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.7 Powerway Renewable Energy Co. (SinoTech Power Group)
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.8 Soltec Energias Renovables S.L.
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.9 Sunpower Corporation (Total S.A.)
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.9.3 Financials
- 15.3.9.4 SWOT Analysis
- 15.3.1 Arctech Solar Holding Co. Ltd.
Product Code: SR112024A2401
List of Figures
- Figure 1: Global: Solar Tracker Market: Major Drivers and Challenges
- Figure 2: Global: Solar Tracker Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Solar Tracker Market: Breakup by Type (in %), 2023
- Figure 4: Global: Solar Tracker Market: Breakup by Tracking Type (in %), 2023
- Figure 5: Global: Solar Tracker Market: Breakup by Technology (in %), 2023
- Figure 6: Global: Solar Tracker Market: Breakup by Application (in %), 2023
- Figure 7: Global: Solar Tracker Market: Breakup by Region (in %), 2023
- Figure 8: Global: Solar Tracker Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 9: Global: Solar Tracker (Active Solar Tracker) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 10: Global: Solar Tracker (Active Solar Tracker) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 11: Global: Solar Tracker (Passive Solar Tracker) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 12: Global: Solar Tracker (Passive Solar Tracker) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 13: Global: Solar Tracker (Single Axis Tracking) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 14: Global: Solar Tracker (Single Axis Tracking) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 15: Global: Solar Tracker (Dual Axis Tracking) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 16: Global: Solar Tracker (Dual Axis Tracking) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 17: Global: Solar Tracker (Solar Photovoltaic- PV) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 18: Global: Solar Tracker (Solar Photovoltaic- PV) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 19: Global: Solar Tracker (Concentrated Solar Power- CSP) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 20: Global: Solar Tracker (Concentrated Solar Power- CSP) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 21: Global: Solar Tracker (Concentrated Photovoltaic- CPV) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 22: Global: Solar Tracker (Concentrated Photovoltaic- CPV) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 23: Global: Solar Tracker (Utility Sector) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 24: Global: Solar Tracker (Utility Sector) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 25: Global: Solar Tracker (Residential Sector) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 26: Global: Solar Tracker (Residential Sector) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 27: Global: Solar Tracker (Commercial Sector) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 28: Global: Solar Tracker (Commercial Sector) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 29: North America: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 30: North America: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 31: United States: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 32: United States: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 33: Canada: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 34: Canada: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 35: Asia Pacific: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 36: Asia Pacific: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 37: China: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 38: China: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 39: Japan: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 40: Japan: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 41: India: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 42: India: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 43: South Korea: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 44: South Korea: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 45: Australia: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 46: Australia: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 47: Indonesia: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 48: Indonesia: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 49: Others: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 50: Others: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 51: Europe: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 52: Europe: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 53: Germany: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 54: Germany: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 55: France: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 56: France: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 57: United Kingdom: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 58: United Kingdom: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 59: Italy: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 60: Italy: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 61: Spain: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 62: Spain: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 63: Russia: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 64: Russia: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 65: Others: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 66: Others: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 67: Latin America: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 68: Latin America: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 69: Brazil: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 70: Brazil: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 71: Mexico: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 72: Mexico: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 73: Others: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 74: Others: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 75: Middle East and Africa: Solar Tracker Market: Sales Value (in Million US$), 2018 & 2023
- Figure 76: Middle East and Africa: Solar Tracker Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 77: Global: Solar Tracker Industry: SWOT Analysis
- Figure 78: Global: Solar Tracker Industry: Value Chain Analysis
- Figure 79: Global: Solar Tracker Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Solar Tracker Market: Key Industry Highlights, 2023 and 2032
- Table 2: Global: Solar Tracker Market Forecast: Breakup by Type (in Million US$), 2024-2032
- Table 3: Global: Solar Tracker Market Forecast: Breakup by Tracking Type (in Million US$), 2024-2032
- Table 4: Global: Solar Tracker Market Forecast: Breakup by Technology (in Million US$), 2024-2032
- Table 5: Global: Solar Tracker Market Forecast: Breakup by Application (in Million US$), 2024-2032
- Table 6: Global: Solar Tracker Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 7: Global: Solar Tracker Market Structure
- Table 8: Global: Solar Tracker Market: Key Players
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