Global Solar Trackers Market: Focus on Application, End-use Industry, Type, Equipment, and Region - Analysis and Forecast, 2024 - 2031

The growth of the "Solar Trackers market" has been significant, driven by various critical factors. Increased consumer demand, influenced by evolving lifestyles and preferences, has been a major contributor.

Solar Trackers Market Report Outline, Market Statistics, and Growth Opportunities

, driven by increasing demand for renewable energy sources and government incentives for solar power projects. The Research Reports indicate that the solar trackers market is currently driven by technological advancements, reducing costs, and improving efficiency. However, challenges such as high initial investment costs, limited availability of land for large-scale installations, and competition from other renewable energy sources exist. Future growth prospects for the industry include rising adoption of solar energy across residential, commercial, and industrial sectors, as well as new market entrants and innovations in solar tracker technology. Opportunities for the industry lie in emerging markets, increasing investment in renewable energy projects, and a shift towards sustainable energy alternatives. Overall, the Solar Trackers market presents a promising outlook for the future, with potential for significant growth, despite facing certain challenges in the industry.

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Market Segmentation Analysis

Solar trackers are devices that orient solar panels toward the sun to maximize energy production. There are two main types: Single Axis trackers rotate panels on one axis, while Dual Axis trackers move panels on both vertical and horizontal axes. Single Axis trackers are more common due to lower cost and simpler operation, while Dual Axis trackers offer higher energy output but are more expensive.

Solar trackers are used in both Utility and Non-Utility applications. Utility applications refer to large-scale solar farms that feed electricity into the grid, while Non-Utility applications include residential and commercial installations. Utility applications benefit from increased energy output and lower costs per kilowatt-hour, while Non-Utility applications can also benefit from higher energy production and potentially lower energy bills.

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The Impact of Covid-19 and Russia-Ukraine War on Solar Trackers Market 

The Russia-Ukraine war and post-Covid-19 pandemic have had significant consequences on the solar trackers market. The ongoing conflict has disrupted supply chains and raised concerns about the availability of raw materials needed for manufacturing. This has led to increased costs and delays in production, impacting the growth of the market.

On the other hand, the pandemic has accelerated the transition towards renewable energy sources, including solar power. As countries look to reduce their reliance on fossil fuels and combat climate change, the demand for solar trackers is expected to rise. This, coupled with government incentives and policies supporting renewable energy, is likely to drive growth in the market.

Major benefactors of this growth are expected to be solar tracker manufacturers, as well as companies involved in the installation and maintenance of solar power systems. Additionally, countries that invest in renewable energy infrastructure and technology are likely to see economic and environmental benefits in the long run.

Companies Covered: Solar Trackers Market

• Soitec SA
• Arctech
• Array Technologies
• Convert Italia
• First Solar
• NEXTracker
• Abengoa
• AllEarth Renewables
• Edisun Microgrids
• Exosun
• GameChange Solar
• Haosolar
• Mahindra Susten
• Scorpius Trackers
• Solar FlexRack
• Sun Action Trackers
• SunLink
• SunPower

Solar trackers are devices that orient solar panels toward the sun to maximize energy capture. Market leaders in the solar tracker industry include companies like NEXTracker, Array Technologies, and First Solar. New entrants such as Haosolar and Scorpius Trackers are also making a presence in the market. These companies play a crucial role in growing the solar trackers market by offering innovative technologies, increasing energy efficiency, and reducing costs for solar installations.

- Soitec SA: $477 million in sales revenue

- NEXTracker: $800 million in sales revenue

- Array Technologies: $ billion in sales revenue

Country-level Intelligence Analysis 

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

The solar trackers market has been witnessing significant growth in regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America, particularly the United States and Canada, is expected to dominate the market due to the increasing adoption of solar energy in the region. Europe, led by countries like Germany, France, and the ., is also projected to hold a substantial market share. In Asia-Pacific, countries such as China, Japan, and India are witnessing a rise in solar tracker installations. Latin America, including Mexico, Brazil, and Argentina, and Middle East & Africa, including Turkey, Saudi Arabia, and UAE, are also showing promising growth in the solar trackers market. Overall, North America and Europe are expected to hold the largest market share percentage valuation in the coming years.

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What is the Future Outlook of Solar Trackers Market?

The present outlook for the Solar Trackers market is strong, with increasing adoption of solar energy solutions driving demand for more efficient and productive tracking systems. The future outlook is even more promising, as advancements in technology are expected to continue improving the efficiency and cost-effectiveness of solar trackers. Additionally, government subsidies and incentives for renewable energy sources are likely to further propel the growth of the market. Overall, the Solar Trackers market is expected to experience significant growth in the coming years as solar energy becomes an increasingly important component of the global energy mix.

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Market Segmentation 2024 - 2031

In terms of Product Type, the Solar Trackers market is segmented into:

• Single Axis
• Dual Axis

In terms of Product Application, the Solar Trackers market is segmented into:

• Utility
• Non-Utility

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Key FAQs 

• What is the outlook for the Solar Trackers market in the coming years?

It provides insights into future growth prospects, challenges, and opportunities for the industry.

• What is the current size of the global Solar Trackers market?

The report usually provides an overview of the market size, including historical data and forecasts for future growth.

• Which segments constitute the Solar Trackers market?

The report breaks down the market into segments like type of Solar Trackers, Applications, and geographical regions.

• What are the emerging market trends in the Solar Trackers industry?

It discusses trends such as sustainability, innovative uses of Solar Trackers, and advancements in technologies.

• What are the major drivers and challenges affecting the Solar Trackers market?

It identifies factors such as increasing demand from various industries like fashion, automotive, and furniture, as well as challenges such as environmental concerns and regulations.

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