Solar PV Tracker Market Size, Share, Trends, Growth Outlook

The global Solar PV Tracker Market Size is estimated to increase at a CAGR of 22.5% during the forecast period from 2024 to 2030.

The Solar PV Tracker Market research report provides a detailed analysis of diverse segments across 6 regions and 25 countries including Type (Single Axis, Dual Axis, Others), Tracking System (Active, Passive, Open Loop), Application (Residential, Defense, Industrial).

An Introduction to Solar PV Tracker Markets in 2024

Productivity, technology enablement, and sustainability remain the key market-driving forces in the global Solar PV Tracker industry landscape. Companies that invest in that supply chain and operational resiliency are poised to gain a competitive edge over other market players. The global energy investments are set to increase from around $1,652 Billion in 2024 to $2845 Billion in 2040. As the world is making steady progress towards net zero, energy security, affordability, and industrial competitiveness remain key focus areas of most Solar PV Tracker companies. The Solar PV Tracker demand trajectory varies based on multiple scenarios, from macroeconomic conditions, regulatory support, investment scenarios, and the global landscape. Decision makers across the Solar PV Tracker industry value chain formulating long-term transition strategies with a diverse range of future scenarios are likely to stay ahead of the competition curve.

Solar PV Tracker Market Trends:

In the solar PV tracker market, there's a trend towards tracking systems that optimize solar panel orientation for increased energy capture throughout the day. Innovations in solar tracker designs, tracking algorithms, and dual-axis tracking systems are prevalent trends. Additionally, the adoption of solar PV trackers for utility-scale solar farms, commercial installations, and rooftop systems is gaining traction. Moreover, advancements in accuracy, reliability, and cost-effectiveness of tracking technologies are shaping the market.

Solar PV Tracker Market Drivers:

Key drivers propelling the solar PV tracker market include the quest for higher solar energy yields, the need for increased efficiency in solar installations, and the reduction of levelized cost of electricity (LCOE). Solar PV trackers offer advantages such as improved energy production, optimized sunlight capture, and reduced land use per watt, driving their adoption in various solar projects. Moreover, technological advancements in tracking mechanisms, performance monitoring, and modular tracking solutions contribute significantly to market growth.

Solar PV Tracker Market Opportunities:

Opportunities in the solar PV tracker market lie in enhancing tracking system capabilities and promoting tracker solutions for improved solar performance. Collaboration among tracker manufacturers, solar developers, and project developers offers significant growth prospects. Moreover, investing in research and development for advanced tracking algorithms, intelligent tracking systems, and hybrid tracking configurations can unlock new avenues for market expansion. Exploring emerging markets with extensive solar resources and promoting the benefits of solar PV trackers for increased energy production can further drive market growth and facilitate the widespread adoption of solar tracking technologies.

Solar PV Tracker Market Segmentation

A Solar Photovoltaic (PV) Tracker is a system that adjusts the orientation of solar panels to follow the sun's path throughout the day, maximizing their exposure to sunlight. These trackers increase solar energy production by optimizing the panels' angle and orientation for improved efficiency.

Type
• Single Axis
• Dual Axis
• Others

Tracking System
• Active
• Passive
• Open Loop

Application
• Defense
• Industrial
• Residential

Solar PV Tracker Market Companies

• Arctech Solar Holding Co., Ltd
• Array Technologies, Inc
• Convert Italia S.p.A
• Exosun SAS
• First Solar, Inc
• Grupo Clavijo
• Haosolar Co., Ltd
• Ideematec Deutschland GmbH
• Mahindra Susten Private Limited
• Nclave Renewable S.L
• NEXTracker Inc.
• PV Hardware
• Scorpius Trackers Pvt. Ltd
• Solar Steel SL
• Soltec Renewable Energies
• STi Norland
• Sun Action Trackers, LLC
• SunLink Corporation

*List not exhaustive

Reasons to Buy the Solar PV Tracker Market Study

• Deepen your industry insights and navigate uncertainties for strategy formulation, CAPEX, and Operational decisions
• Gain access to detailed insights on the Solar PV Tracker market, encompassing current market size, growth trends, and forecasts till 2030.
• Access detailed competitor analysis, enabling competitive advantage through a thorough understanding of market players, strategies, and potential differentiation opportunities
• Stay ahead of the curve with insights on technological advancements, innovations, and upcoming trends
• Identify lucrative investment avenues and expansion opportunities within the Solar PV Tracker industry, guided by robust, data-backed analysis.
• Understand regional and global markets through country-wise analysis, regional market potential, regulatory nuances, and dynamics
• Execute strategies with confidence and speed through information, analytics, and insights on the industry value chain
• Corporate leaders, strategists, financial experts, shareholders, asset managers, and governmental representatives can make long-term planning scenarios and build an integrated and timely understanding of market dynamics
• Benefit from tailored solutions and expert consultation based on report insights, providing personalized strategies aligned with specific business needs.

TABLE OF CONTENTS

1 INTRODUCTION TO 2024 Solar PV Tracker MARKETS
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain

2 RESEARCH METHODOLOGY
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations

3 EXECUTIVE SUMMARY
3.1 Global Solar PV Tracker Market Size Outlook, $ Million, 2021 to 2030
3.2 Solar PV Tracker Market Outlook by Type, $ Million, 2021 to 2030
3.3 Solar PV Tracker Market Outlook by Product, $ Million, 2021 to 2030
3.4 Solar PV Tracker Market Outlook by Application, $ Million, 2021 to 2030
3.5 Solar PV Tracker Market Outlook by Key Countries, $ Million, 2021 to 2030

4 MARKET DYNAMICS
4.1 Key Driving Forces of Solar PV Tracker Industry
4.2 Key Market Trends in Solar PV Tracker Industry
4.3 Potential Opportunities in Solar PV Tracker Industry
4.4 Key Challenges in Solar PV Tracker Industry
5 MARKET FACTOR ANALYSIS
5.1 Competitive Landscape
5.1.1 Global Solar PV Tracker Market Share by Company
5.1.2 Product Offerings by Company
5.2 Porter’s Five Forces Analysis

6 GROWTH OUTLOOK ACROSS SCENARIOS
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts

7 GLOBAL Solar PV Tracker MARKET OUTLOOK BY SEGMENTS
7.1 Solar PV Tracker Market Outlook by Segments
Type
- Single Axis
- Dual Axis
- Others

Tracking System
- Active
- Passive
- Open Loop

Application
- Defense
- Industrial
- Residential


8 NORTH AMERICA Solar PV Tracker MARKET ANALYSIS AND OUTLOOK TO 2030
8.1 Introduction to North America Solar PV Tracker Markets in 2024
8.2 North America Solar PV Tracker Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Solar PV Tracker Market size Outlook by Segments, 2021-2030
Type
- Single Axis
- Dual Axis
- Others

Tracking System
- Active
- Passive
- Open Loop

Application
- Defense
- Industrial
- Residential


9 EUROPE Solar PV Tracker MARKET ANALYSIS AND OUTLOOK TO 2030
9.1 Introduction to Europe Solar PV Tracker Markets in 2024
9.2 Europe Solar PV Tracker Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Solar PV Tracker Market size Outlook by Segments, 2021-2030
Type
- Single Axis
- Dual Axis
- Others

Tracking System
- Active
- Passive
- Open Loop

Application
- Defense
- Industrial
- Residential


10 ASIA PACIFIC Solar PV Tracker MARKET ANALYSIS AND OUTLOOK TO 2030
10.1 Introduction to Asia Pacific Solar PV Tracker Markets in 2024
10.2 Asia Pacific Solar PV Tracker Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Solar PV Tracker Market size Outlook by Segments, 2021-2030
Type
- Single Axis
- Dual Axis
- Others

Tracking System
- Active
- Passive
- Open Loop

Application
- Defense
- Industrial
- Residential


11 SOUTH AMERICA Solar PV Tracker MARKET ANALYSIS AND OUTLOOK TO 2030
11.1 Introduction to South America Solar PV Tracker Markets in 2024
11.2 South America Solar PV Tracker Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Solar PV Tracker Market size Outlook by Segments, 2021-2030
Type
- Single Axis
- Dual Axis
- Others

Tracking System
- Active
- Passive
- Open Loop

Application
- Defense
- Industrial
- Residential


12 MIDDLE EAST AND AFRICA Solar PV Tracker MARKET ANALYSIS AND OUTLOOK TO 2030
12.1 Introduction to Middle East and Africa Solar PV Tracker Markets in 2024
12.2 Middle East and Africa Solar PV Tracker Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Solar PV Tracker Market size Outlook by Segments, 2021-2030
Type
- Single Axis
- Dual Axis
- Others

Tracking System
- Active
- Passive
- Open Loop

Application
- Defense
- Industrial
- Residential


13 COMPANY PROFILES
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
List of Companies
- Arctech Solar Holding Co., Ltd
- Array Technologies, Inc
- Convert Italia S.p.A
- Exosun SAS
- First Solar, Inc
- Grupo Clavijo
- Haosolar Co., Ltd
- Ideematec Deutschland GmbH
- Mahindra Susten Private Limited
- Nclave Renewable S.L
- NEXTracker Inc.
- PV Hardware
- Scorpius Trackers Pvt. Ltd
- Solar Steel SL
- Soltec Renewable Energies
- STi Norland
- Sun Action Trackers, LLC
- SunLink Corporation


14 APPENDIX
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise

Solar PV Tracker Market Segmentation

A Solar Photovoltaic (PV) Tracker is a system that adjusts the orientation of solar panels to follow the sun's path throughout the day, maximizing their exposure to sunlight. These trackers increase solar energy production by optimizing the panels' angle and orientation for improved efficiency.

Type
• Single Axis
• Dual Axis
• Others

Tracking System
• Active
• Passive
• Open Loop

Application
• Defense
• Industrial
• Residential