Solar Tracker Market Industry Outlook, Size, Growth Factors and Forecast 2030

Solar Tracker Market :size was valued at USD 15.85 billion in 2023 and is expected to reach USD 54.20 Bn by 2030, at a CAGR of 19.2 %.

Solar Tracker Market Overview

The report serves as a comprehensive guide for investors, stakeholders, and market followers of the Solar Tracker Market. It offers an in-depth analysis of the market size, segmentation, drivers, and restraints. Factors that are expected to impact the industry positively or negatively are also included, providing decision-makers with a clear understanding of the Solar Tracker industry's future outlook.

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Solar Tracker Market Report Scope and Research Methodology

The research for this report employs a combination of primary and secondary research methods to provide a detailed and accurate analysis of the Solar Tracker Market. The bottom-up approach is utilized to estimate the market size, while secondary research is used to identify key players in the market. Primary research involves conducting interviews with significant opinion leaders and industry experts, including business owners and marketing specialists. Secondary research involves a thorough review of the annual and financial reports of top manufacturers to calculate their market revenues.

Solar Tracker Market Regional Insights :

The research includes a global-level regional analysis, providing a comprehensive understanding of the dominant market share and penetration in different regions. It also highlights emerging regions expected to become major markets for Solar Tracker . The report encompasses a competitive analysis, focusing on growth models, new strategies, and technologies adopted by key players in the market.

Solar Tracker Market Segmentation :

Dual axis trackers are substantially more expensive than single-axis trackers, depending on the drive type. Dual-axis trackers have larger land needs and higher operating and maintenance expenses since they require more sophisticated technology and high-maintenance motors and control systems. The widespread use of dual-axis trackers is seriously hampered by these issues. Compared to a fixed tilt installation, a dual-axis tracker can increase the total cost of your PV plant by up to 50%. Dual-axis trackers are not attractive for most types of installations because two-axis trackers offer yield gains of 30–40%, meaning the cost is more than the yields. Since dual-axis trackers' poles may be high enough for crops, they are usually used on highly specialised installations like farms for dual land use.

The Utility segment of the Solar Tracker Market is anticipated to expand at the fastest rate during the projected period based on Application. The need for renewable energy sources and rising power prices will probably lead to a rise in the use of solar trackers in utility applications. For the duration of the projection, this trend is anticipated to persist. Utility solar systems are installed on the ground, thus single-axis trackers can be used to follow the sun all day long. Because of feed-in tariff programmes and growing government subsidies, trackers are being used widely in utility applications, particularly in North America and Europe.

Solar Tracker Market Key Players :

1. Array Technologies, Inc. (U.S.) 2. NEXTracker (U.S.) 3. Array Technologies (U.S.) 4. Trina Solar (China) 5. SunPower Corporation (U.S.) 6. ArcelorMittal Projects (Luxemburg) 7. Soltec (Spain) 8. Convert Italia (Italy) 9. PV Hardware (Spain) 10. Arctech Solar (U.S.) 11. Solar Steel (Spain) 12. Ideematec (Germany) 13. Scorpius Trackers (India) 14. Sun Action Trackers (U.S.) 15. DEGERENERGIE GMBH & CO. KG (Germany) 16. GameChange Solar (New York) 17. STI Norland (Spain) 18. MECASOLAR (Spain) 19. Mechatron (India) 20. OPTIMUM TRACKER (France) 21. Powerway Renewable Energy Co. Ltd. (China) 22. Schletter (Germany)

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Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022−2029
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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