Global Solar Trackers Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview

of Global Solar Trackers market:
The latest research study on the global Solar Trackers market finds that the global Solar Trackers market reached a value of USD 3262.31 million in 2022. It’s expected that the market will achieve USD 7676.77 million by 2028, exhibiting a CAGR of 15.33% during the forecast period.

Solar trackers Trackers direct solar panels or modules toward the sun.

Low cost of solar power generation
Compared to the higher cost of diesel power, coupled with the high freight costs, solar power is no doubt more cost-effective. Solar power plants do not wear out, much longer than the life cycle of diesel generators, and the increased demand for solar equipment also drives the demand for solar trackers.

Affected by climate and environmental factors
The energy of solar power is directly from the sunlight, and the sun on the surface of the earth is greatly affected by the climate. Long-term changes in rain, snow, cloudy, foggy days and even clouds will seriously affect the solar trackers work. In addition, the influence of environmental factors is also very large. The more prominent point is that particles (such as dust) in the air sink on the surface of the solar tracker component, blocking part of the light, which causes the conversion efficiency of the battery assembly to decrease. This causes a reduction in power generation and even damage to the panels.

Strong government support
With environmental pollution, lack of resources, the government attaches importance to sustainable development, paying attention to the solar industry to achieve high-scale economy and low cost.

Region Overview:
From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview:
NEXTracker is one of the major players operating in the Solar Trackers market, holding a share of 32.34% in 2022.

NEXTracker
NEXTracker Inc. designs and manufactures single axis photovoltaic trackers for ground-mounted solar power plants. The company offers NEXTrackerSPT, a horizontal single-axis balanced-mass self-powered tracker with independently-driven rows that eliminate external AC power source systems, wiring, and associated trenching. It also provides TrueCapture, a self-adjusting tracker control system for solar power plants that refines the tracking algorithm of each individual solar array in response to existing site and weather conditions. In addition, the company offers NEXTracker Energy Storage Solutions, such as NX Drive, a standardized battery enclosure system for generation-plus-storage.

Array Technologies
Array Technologies, Inc. designs, manufactures, supplies, and installs solar tracking systems for utilities, corporations, small businesses, and homeowners. The company offers DuraTrack HZ Webinar single axis solar trackers, and DuraTrack HZ v3 solar trackers for utility-scale solar projects; DuraTrack HZ v2.5 solar trackers that help schools, businesses, and government buildings create and consume clean energy; and DuraTrack DA dual axis solar trackers, and DuraTrack HZLA single-axis solar trackers for residential applications. Its products are available through a network of dealers and installers in the United States and internationally.

Segmentation Overview:
By type, Single Axis Solar Trackers segment accounted for the largest share of market in 2021.

Single Axis Solar Trackers
Single-axis solar trackers rotate on one axis moving back and forth in a single direction.

Dual Axis Solar Trackers
Dual-axis tracking is typically used to orient a mirror and redirect sunlight along a fixed axis towards a stationary receiver.

Application Overview:
By application, the Public Utility segment occupied the biggest share from 2017 to 2022.

The report covers a research time span from 2018 to 2029; combines extensive quantitative analysis and exhaustive qualitative analysis; presents not only an overview of the global Solar Trackers market in metrics of sales, revenue, growth rate, but also a deeper dive into the segmented market by region, product type and downstream industry, showing the readers a clear and distinct picture of how the market is distributed from different perspectives.

For competitive landscape, prominent players with considerable market shares are comprehensively analyzed in this report. With information regarding the concentration ratio and detailed data reflecting the market performance of each player shared, the readers can acquire a holistic view of the competitive situation and a better understanding of their competitors.

As the COVID-19 takes over the world, we are continuously tracking the changes in the markets. We analyzed the impact of the pandemic in detail, along with other key factors, such as macro-economy, regional conflicts, industry related news and policies. Meanwhile, market investment scenario, technology status and developments, supply chain challenges, among other essential research elements are all covered.

Research Scope
This report provides an overview of the global Solar Trackers market and analyzes the segmented market by product type, downstream industry, and region, presenting data points such as sales, revenue, growth rate, explaining the current status and future trends of the Solar Trackers and its sub-markets in an intuitive way.

Key Companies in the global Solar Trackers market covered in Chapter 3:
NEXTracker
Mahindra Susten
Exosun
First Solar
Solar Steel
PV Hardware
STi Norland
Grupo Clavijo
Array Technologies
Arctech Solar
Sun Action Trackers
Soltec
Ideematec
SunLink
NClave
Convert Italia
SunPower
Scorpius Trackers

In Chapter 4 and Chapter 14.2, on the basis of types, the Solar Trackers market from 2018 to 2029 is primarily split into:
Single Axis Solar Trackers
Dual Axis Solar Trackers

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Solar Trackers market from 2018 to 2029 covers:
Public Utility
Non-Public Utility

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:
North America (United States, Canada)

Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)

Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)

Latin America (Brazil, Mexico, Argentina)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)

Key Factors Considered

COVID-19
Amid the COVID-19 crisis, the Solar Trackers market has definitely taken a hit. The report describes the market scenario during and post the pandemic in the vision of upstream raw materials, major market participants, downstream major customers, etc. Other aspects, such as changes in consumer behavior, demand, transport capacity, trade flow under COVID-19, have also been taken into consideration during the process of the research.

Regional Conflict / Russia-Ukraine War
The report also presents the impact of regional conflict on this market in an effort to aid the readers to understand how the market has been adversely influenced and how it’s going to evolve in the years to come.

Challenges & Opportunities
Factors that may help create opportunities and boost profits for market players, as well as challenges that may restrain or even pose a threat to the development of the players, are revealed in the report, which can shed a light on strategic decisions and implementation.

Chapter Outline

Chapter 1 starts the report with a brief overview of the research scope, as well as the definitions of the target market and the subdivisions.

Chapter 2 integrates and sketches the research findings and conclusions in a clear and explicit way.

Chapter 3 presents the competitive landscape by displaying the sales, revenue, and market shares of the top players. It also profiles the major market participants with their business introductions, sales, price, revenue, gross, growth rates, etc.

Chapter 4 breaks down the market by different product types and shares data correspondingly with the aim of helping the readers know how the market is distributed by type.

Chapter 5 segments the market by downstream industry, with data covers sales, revenue, and growth rate tracing back to 2018.

Chapter 6 is the analysis of the whole market industrial chain, ranging from upstream raw materials to downstream customers, with regional conflicts taken into consideration.

Chapter 7 elaborates on market dynamics. Factors that drive, challenge, or restrain the market are all listed, together with industry news, opportunities, impacts of COVID-19, and SWOT analysis.

Chapter 8 shows the breakdown data at the regional level, which enables the readers to picture the regional competitive pattern of the market and learn about the revenue, sales, and market share of all the major regions.

Chapter 9-13 focus on each and every of the major region, specifically, North America, Europe, Asia Pacific, Latin America, Middle East & Africa. Sales, price, revenue, gross, gross margin, among others, will be all be presented.

Chapter 14 forecasts the future trend of the market not only as a whole but also from the perspective of all segments.

Years considered for this report:

Historical Years:

2018-2022

Base Year:

2022

Estimated Year:

2023

Forecast Period:

2023-2029

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