Sustainable Energy Boom to Bolster the Global Solar Tracker Market Growth

The global solar tracker market is expected to grow as use of trackers can make quite a difference to the income from a large plant. The use of solar trackers can increase electricity production by around a third. Improved efficiency means improved yield.

Trackers are the devices that orient solar panels, modules or payload towards the sun. These devices follow the sun’s path to maximize energy capture (changing their orientation throughout the day; angled correctly to collect energy).

Payloads are usually solar panels, parabolic troughs, Fresnel reflectors, lenses or the mirrors of a heliostat.

Selecting a solar tracker depends on system size, electric rates, land constraints, government incentives, latitude and weather.

Single-axis solar trackers viz. horizontal, vertical, tilted, and polar aligned rotate on one axis moving back and forth in a single direction – track the sun from east to west, rotating on a single point, moving either in unison, by panel row or by section.

Dual-axis trackers viz. tip-tilt and azimuth-altitude continually face the sun because they can move in two different directions – rotate on both the X and Y axes - making panels track the sun. Because these trackers follow the sun vertically and horizontally they help obtain maximum solar energy generation.

Global Solar Tracker Market Might Slow down due to High Costs

There are also several methods of driving solar trackers. Passive trackers move from a compressed gas fluid driven to one side or the other. Motors and gear trains direct active solar trackers by means of a controller that responds to the sun’s direction. Finally, a chronological tracker counteracts the earth’s rotation by turning in the opposite direction.

The global solar tracker market is expected to face certain restraints such as perfect fit for smaller jobsites and high installation costs, which will hinder market growth during the forecast period. These are more expensive compared to their counterparts due to complex technology required to move parts. Adding a solar tracking system means adding more equipment, moving parts and gears that will require regular maintenance and repair or replacement of broken parts.

Even with the advancements in reliability, there is generally more maintenance required than a traditional fixed rack, though the quality of the solar tracker can play a role in how much and how often this maintenance is needed.

Trackers are a more complex system than fixed racking. This means that typically more site preparation is needed, including additional trenching for wiring and some additional grading.

It also requires increased maintenance and more site preparation than a traditional rack - if the solar tracker system breaks down when the solar panels are at an extreme angle, the loss of production until the system is functional again can be substantial. Moreover, these cannot sustain harsher environmental conditions as fixed racking accommodates - solar tracker is more prone to damage in a storm than the actual panels. A solar-tracked system comes only with a 5 to 10-year warranty, which has had a discouraging effect.

Improved Performance to Boost Single Axis Tracker Segment

The single axis tracker segment is expected to rise in demand during the forecast period as it tracks the solar rays along a single axis while providing improved system performance by 20%. However, it utilizes more land compared to fixed panels as it can shadow the neighboring panels. It also comes with higher capital expenditure and operating expenditure which can slightly affect its demand during the forecast period.

Government Incentives Bode well for North America Solar Tracker Market

North America is expected to dominate the global solar tracker market as this region has witnessed increased rate of installation of solar energy systems and refurbishment of the existing electrical network. The demand for decentralized energy generation along with increased government initiatives supporting new solar system installations will boost the demand for solar trackers in this region. The United States accounted for 50 percent of global tracker shipments in 2019, growing by 226 percent year-over-year, the highest growth seen in any region.

Investment in renewable energy industry across the U.S. is increasing steadily. The partnership of state and federal government with private sectors is generating funds as subsidies, rebates and tax to promote RE system will boost demand for the solar tracker market in North America. In 2011, the U.S. Department of Energy launched SunShot Initiative to make solar industry cost-competitive and sponsored more than 350 projects, including national, universities, private laboratories and companies.

Latin America was the world’s second-largest solar tracker market last year, led by Mexico, Brazil, and Chile.

Partnerships Will Provide Key Players an Edge over Others in the Global Market

Solar trackers are technological solutions that track the sun’s intensity to maximize the output. Solar trackers are a great fit for both large and small project sites given the proper location and site conditions. Advancements in technology and reliability in electronics and mechanics have drastically reduced long-term maintenance concerns for tracking systems.

Globally, the top 10 vendors constitute more than 85% of the market. NEXTracker is the number-one global solar tracker company. A few players are highly integrated across the value chain and also offer a diverse product portfolio.

Major key players operating in the global solar tracker market are NEXTracker, Amonix, Inc., Energia Ercam, Abengoa Solar S.A., Powerway Renewable Energy Co. Ltd., NClave, Artech Solar, PV Hardware, Array Technologies, Inc., DEGERenergie GmbH & Co. KG, Haosolar Co. Ltd., Mechatron, SunPower Corporation, Titan Tracker SL, SmartTrak Solar Systems Pvt. Ltd, Mecasolar España SL, First Solar, Soitec, CM Tracker, and Optimum Tracker.

Regional Classification of the Global Solar Tracker Market is Listed Below:

North America

U.S.
Canada

Europe

Germany
France
Spain
U.K.
Italy
Russia
Rest of Europe

Asia Pacific

China
Japan
India
Southeast Asia
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East and Africa

GCC
South Africa
Rest of Middle East & Africa

*Regions and countries are subject to change based on data availability.

Key Elements Included In The Study: Global Solar Tracker Market

Solar Tracker Market by Product/Technology/Grade, Application/End-user, and Region
Executive Summary (Opportunity Analysis and Key Trends)
Historical Market Size and Estimates, Value, 2018 - 2022
Market Value at Regional and Country Level, 2023 - 2030
Market Dynamics and Economic Overview
Market Size in Value, Growth Rates, and Forecast Figures, 2023 - 2030
Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
Regional and Product/Grade/Application/End-user Price Trends Analysis
Value Chain and Five Force’s Analysis
Regional/Sub-region/Country Market Size and Trend Analysis
Company Market Share Analysis and Key Player Profiles

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1. Executive Summary
1.1. Global Solar Tracker Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations

2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.1.1. Driver A
  2.2.1.2. Driver B
  2.2.1.3. Driver C
  2.2.2. Restraints
  2.2.2.1. Restraint 1
  2.2.2.2. Restraint 2
  2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
  2.5.1. Pre-covid and Post-covid Scenario
  2.5.2. Supply Impact
  2.5.3. Demand Impact
2.6. Government Regulations
2.7. Technology Landscape
2.8. Economic Analysis
2.9. PESTLE

3. Production Output and Trade Statistics, 2018 - 2022
3.1. Regional Production Statistics
  3.1.1. North America
  3.1.2. Europe
  3.1.3. Asia Pacific
  3.1.4. Latin America
  3.1.5. Middle East & Africa

4. Price Trends Analysis and Future Projects, 2018 - 2030
4.1. Key Highlights
4.2. Prominent Factors Affecting Prices
4.3. By Axis Type
4.4. By Region

5. Global Solar Tracker Market Outlook, 2018 - 2030
5.1. Global Solar Tracker Market Outlook, by Technology, Volume (MW) and Value (US$ Mn), 2018 - 2030
  5.1.1. Key Highlights
  5.1.1.1. Solar Photovoltaic (PV)
  5.1.1.2. Concentrated Solar Power (CSP)
  5.1.1.3. Concentrated Photovoltaic (CPV)
5.2. Global Solar Tracker Market Outlook, by Axis Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
  5.2.1. Key Highlights
  5.2.1.1. Single Axis
5.2.1.1.1. Horizontal
5.2.1.1.2. Vertical
5.2.1.1.3. Tilted
  5.2.1.2. Dual Axis
5.3. Global Solar Tracker Market Outlook, by End-user Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
  5.3.1. Key Highlights
  5.3.1.1. Utility
  5.3.1.2. Residential
  5.3.1.3. Commercial
  5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Global Solar Tracker Market Outlook, by Region, Volume (MW) and Value (US$ Mn), 2018 - 2030
  5.4.1. Key Highlights
  5.4.1.1. North America
  5.4.1.2. Europe
  5.4.1.3. Asia Pacific
  5.4.1.4. Latin America
  5.4.1.5. Middle East & Africa
  5.4.2. BPS Analysis/Market Attractiveness Analysis

6. North America Solar Tracker Market Outlook, 2018 - 2030
6.1. North America Solar Tracker Market Outlook, by Technology, Volume (MW) and Value (US$ Mn), 2018 - 2030
  6.1.1. Key Highlights
  6.1.1.1. Solar Photovoltaic (PV)
  6.1.1.2. Concentrated Solar Power (CSP)
  6.1.1.3. Concentrated Photovoltaic (CPV)
6.2. North America Solar Tracker Market Outlook, by Axis Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
  6.2.1. Key Highlights
  6.2.1.1. Single Axis
6.2.1.1.1. Horizontal
6.2.1.1.2. Vertical
6.2.1.1.3. Tilted
  6.2.1.2. Dual Axis
6.3. North America Solar Tracker Market Outlook, by End-user Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
  6.3.1. Key Highlights
  6.3.1.1. Utility
  6.3.1.2. Residential
  6.3.1.3. Commercial
6.4. North America Solar Tracker Market Outlook, by Country, Volume (MW) and Value (US$ Mn), 2018 - 2030
  6.4.1. Key Highlights
  6.4.1.1. U.S.
  6.4.1.2. Canada
  6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Europe Solar Tracker Market Outlook, 2018 - 2030
7.1. Europe Solar Tracker Market Outlook, by Technology, Volume (MW) and Value (US$ Mn), 2018 - 2030
  7.1.1. Key Highlights
  7.1.1.1. Solar Photovoltaic (PV)
  7.1.1.2. Concentrated Solar Power (CSP)
  7.1.1.3. Concentrated Photovoltaic (CPV)
7.2. Europe Solar Tracker Market Outlook, by Axis Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
  7.2.1. Key Highlights
  7.2.1.1. Single Axis
7.2.1.1.1. Horizontal
7.2.1.1.2. Vertical
7.2.1.1.3. Tilted
  7.2.1.2. Dual Axis
7.3. Europe Solar Tracker Market Outlook, by End-user Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
  7.3.1. Key Highlights
  7.3.1.1. Utility
  7.3.1.2. Residential
  7.3.1.3. Commercial
7.4. Europe Solar Tracker Market Outlook, by Country, Volume (MW) and Value (US$ Mn), 2018 - 2030
  7.4.1. Key Highlights
  7.4.1.1. Germany
  7.4.1.2. France
  7.4.1.3. U.K.
  7.4.1.4. Italy
  7.4.1.5. Spain
  7.4.1.6. Turkey
  7.4.1.7. Russia
  7.4.1.8. Rest of Europe
  7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Asia Pacific Solar Tracker Market Outlook, 2018 - 2030
8.1. Asia Pacific Solar Tracker Market Outlook, by Technology, Volume (MW) and Value (US$ Mn), 2018 - 2030
  8.1.1. Key Highlights
  8.1.1.1. Solar Photovoltaic (PV)
  8.1.1.2. Concentrated Solar Power (CSP)
  8.1.1.3. Concentrated Photovoltaic (CPV)
8.2. Asia Pacific Solar Tracker Market Outlook, by Axis Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
  8.2.1. Key Highlights
  8.2.1.1. Single Axis
8.2.1.1.1. Horizontal
8.2.1.1.2. Vertical
8.2.1.1.3. Tilted
  8.2.1.2. Dual Axis
8.3. Asia Pacific Solar Tracker Market Outlook, by End-user Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
  8.3.1. Key Highlights
  8.3.1.1. Utility
  8.3.1.2. Residential
  8.3.1.3. Commercial
8.4. Asia Pacific Solar Tracker Market Outlook, by Country, Volume (MW) and Value (US$ Mn), 2018 - 2030
  8.4.1. Key Highlights
  8.4.1.1. China
  8.4.1.2. Japan
  8.4.1.3. South Korea
  8.4.1.4. India
  8.4.1.5. Southeast Asia
  8.4.1.6. Australia
  8.4.1.7. Rest of Asia Pacific
  8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Latin America Solar Tracker Market Outlook, 2018 - 2030
9.1. Latin America Solar Tracker Market Outlook, by Technology, Volume (MW) and Value (US$ Mn), 2018 - 2030
  9.1.1. Key Highlights
  9.1.1.1. Solar Photovoltaic (PV)
  9.1.1.2. Concentrated Solar Power (CSP)
  9.1.1.3. Concentrated Photovoltaic (CPV)
9.2. Latin America Solar Tracker Market Outlook, by Axis Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
  9.2.1. Key Highlights
  9.2.1.1. Single Axis
9.2.1.1.1. Horizontal
9.2.1.1.2. Vertical
9.2.1.1.3. Tilted
  9.2.1.2. Dual Axis
9.3. Latin America Solar Tracker Market Outlook, by End-user Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
  9.3.1. Key Highlights
  9.3.1.1. Utility
  9.3.1.2. Residential
  9.3.1.3. Commercial
9.4. Latin America Solar Tracker Market Outlook, by Country, Volume (MW) and Value (US$ Mn), 2018 - 2030
  9.4.1. Key Highlights
  9.4.1.1. Brazil
  9.4.1.2. Mexico
  9.4.1.3. Rest of Latin America
  9.4.2. BPS Analysis/Market Attractiveness Analysis

10. Middle East & Africa Solar Tracker Market Outlook, 2018 - 2030
10.1. Middle East & Africa Solar Tracker Market Outlook, by Technology, Volume (MW) and Value (US$ Mn), 2018 - 2030
  10.1.1. Key Highlights
  10.1.1.1. Solar Photovoltaic (PV)
  10.1.1.2. Concentrated Solar Power (CSP)
  10.1.1.3. Concentrated Photovoltaic (CPV)
10.2. Middle East & Africa Solar Tracker Market Outlook, by Axis Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
  10.2.1. Key Highlights
  10.2.1.1. Single Axis
10.2.1.1.1. Horizontal
10.2.1.1.2. Vertical
10.2.1.1.3. Tilted
  10.2.1.2. Dual Axis
10.3. Middle East & Africa Solar Tracker Market Outlook, by End-user Type, Volume (MW) and Value (US$ Mn), 2018 - 2030
  10.3.1. Key Highlights
  10.3.1.1. Utility
  10.3.1.2. Residential
  10.3.1.3. Commercial
10.4. Middle East & Africa Solar Tracker Market Outlook, by Country, Volume (MW) and Value (US$ Mn), 2018 - 2030
  10.4.1. Key Highlights
  10.4.1.1. GCC
  10.4.1.2. South Africa
  10.4.1.3. Rest of Middle East & Africa
  10.4.2. BPS Analysis/Market Attractiveness Analysis

11. Competitive Landscape
11.1. Company Market Share Analysis, 2022
11.2. Competitive Dashboard
11.3. Company Profiles
  11.3.1. Nextracker Inc.
  11.3.1.1. Company Overview
  11.3.1.2. Product Portfolio
  11.3.1.3. Financial Overview
  11.3.1.4. Business Strategies and Development
(*Note: Above details would be available for below list of companies based on availability)
  11.3.2. Array Technologies Inc.
  11.3.3. PV Hardware
  11.3.4. Arctech Solar Holding Co., Ltd,
  11.3.5. GameChange Solar
  11.3.6. Soltec
  11.3.7. Trina Solar
  11.3.8. Axial Structural Solutions
  11.3.9. FTC Solar
  11.3.10. Valmont Solar
  11.3.11. Big Sun Energy Technology Inc.
  11.3.12. Clenergy
  11.3.13. Grace Solar

12. Appendix
12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations

Solar Tracker Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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