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Market Overview of Global Solar Trackers market:
According to our latest research, the global Solar Trackers market looks promising in the next 5 years. As of 2022, the global Solar Trackers market was estimated at USD 3262.31 million, and it's anticipated to reach USD 7676.77 million in 2028, with a CAGR of 15.33% during the forecast years.
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.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Solar Trackers market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Solar Trackers Market Report:
Market Size Estimates: Solar Trackers market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Solar Trackers market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Solar Trackers market
Segment Market Analysis: Solar Trackers market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Solar Trackers market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Solar Trackers Market: Revenue and sales volume of major countries in each region
Solar Trackers Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Solar Trackers market in major regions.
Solar Trackers Industry Value Chain: Solar Trackers market raw materials & suppliers, manufacturing process, distributors, downstream customers
Solar Trackers Industry News, Policies & Regulations
Key players in the global Solar Trackers market are covered in Chapter 12:
Soltec
Solar Steel
Arctech Solar
NClave
NEXTracker
Sun Action Trackers
Grupo Clavijo
Scorpius Trackers
SunLink
PV Hardware
Convert Italia
STi Norland
SunPower
Exosun
First Solar
Mahindra Susten
Ideematec
Array Technologies
In Chapter 2 and Chapter 15.1, based on types, the Solar Trackers market from 2018 to 2028 is primarily split into:
Single Axis Solar Trackers
Dual Axis Solar Trackers
In Chapter 3 and Chapter 15.2, based on applications, the Solar Trackers market from 2018 to 2028 covers:
Public Utility
Non-Public Utility
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Solar Trackers market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028