Solar PV Tracker Market Research Report – Forecast to 2030

Solar PV Tracker Market Research Report by Solar Power Type, by Tracking type, Drive system, By End-User, Forecast till 2030

ID: MRFR/E&P/4418-HCR | August 2022 | Region: Global | 185 Pages         

Table of content

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat of New Entrants

3.1.2 Bargaining power of buyers

3.1.3 Bargaining power of suppliers

3.1.4 Threat of substitutes

3.1.5 Segment rivalry

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

5 Global Solar PV Tracker Market, By Solar Power Type

5.1 Introduction

5.2 Solar PV

5.2.1 Market Estimates & Forecast, 2020-2027

5.2.2 Market Estimates & Forecast by Region, 2020-2027

5.3 CSP

5.3.1 Market Estimates & Forecast, 2020-2027

5.3.2 Market Estimates & Forecast by Region, 2020-2027

5.3.2.1 Parabolic Trough

5.3.2.2 Power Tower

5.3.2.3 Linear Fresnel & Dish/Engine system

5.3 Solar Thermal

5.3.1 Market Estimates & Forecast, 2020-2027

5.3.2 Market Estimates & Forecast by Region, 2020-2027

6 Global Solar PV Tracker Market, By Tracking Type

6.1 Introduction

6.2 Fixed-tilt

6.2.1 Market Estimates & Forecast, 2020-2027

6.2.2 Market Estimates & Forecast by Region, 2020-2027

6.3 Single Axis

6.3.1 Market Estimates & Forecast, 2020-2027

6.3.2 Market Estimates & Forecast by Region, 2020-2027

6.4 Dual-Axis

6.4.1 Market Estimates & Forecast, 2020-2027

6.4.2 Market Estimates & Forecast by Region, 2020-2027

7 Global Solar PV Tracker Market, By Drive system Type

7.1 Introduction

7.2 Active systems

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Region, 2020-2027

7.3 Passive systems

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast by Region, 2020-2027

8 Global Solar PV Tracker Market, By End-Use Industries

8.1 Introduction

8.2 Residential

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast by Region, 2018-2023

8.3 commercial

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by Region, 2018-2023

8.4 Utilities

8.4.1 Market Estimates & Forecast, 2020-2027

8.4.2 Market Estimates & Forecast by Region, 2018-2023

9 Global Solar PV Tracker Market, By Region

9.1 Introduction

9.2 North America

9.2.1 Market Estimates & Forecast, 2020-2027

9.2.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.2.3 Market Estimates & Forecast by Platform Type, 2020-2027

9.2.4 Market Estimates & Forecast by Implementation Type, 2020-2027

9.2.5 Market Estimates & Forecast by End-use industries, 2020-2027

9.2.6 U.S.

9.2.6.1 Market Estimates & Forecast, 2020-2027

9.2.6.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.2.6.3 Market Estimates & Forecast by Platform Type, 2020-2027

9.2.6.4 Market Estimates & Forecast by Implementation Type, 2020-2027

9.2.6.5 Market Estimates & Forecast by End-use industries, 2020-2027

9.2.7 Canada

9.2.7.1 Market Estimates & Forecast, 2020-2027

9.2.7.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.2.7.3 Market Estimates & Forecast by Platform Type, 2020-2027

9.2.7.4 Market Estimates & Forecast by Implementation Type, 2020-2027

9.2.7.5 Market Estimates & Forecast by End-use industries, 2020-2027

9.3 Europe

9.3.1 Market Estimates & Forecast, 2020-2027

9.3.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.3.3 Market Estimates & Forecast by Platform Type, 2020-2027

9.3.4 Market Estimates & Forecast by Implementation Type, 2020-2027

9.3.5 Market Estimates & Forecast by End-use industries, 2020-2027

9.3.6 U.K

9.3.6.1 Market Estimates & Forecast, 2020-2027

9.3.6.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.3.6.3 Market Estimates & Forecast by Platform Type, 2020-2027

9.3.6.4 Market Estimates & Forecast by Implementation Type, 2020-2027

9.3.6.5 Market Estimates & Forecast by End-use industries, 2020-2027

9.3.7 Germany

9.3.7.1 Market Estimates & Forecast, 2020-2027

9.3.7..2 Market Estimates & Forecast by Technology Type, 2020-2027

9.3.7.3 Market Estimates & Forecast by Platform Type, 2020-2027

9.3.7.4 Market Estimates & Forecast by Implementation Type, 2020-2027

9.3.7.5 Market Estimates & Forecast by End-use industries, 2020-2027

9.3.8 Spain

9.3.8.1 Market Estimates & Forecast, 2020-2027

9.3.8.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.3.8.3 Market Estimates & Forecast by Platform Type, 2020-2027

9.3.8.4 Market Estimates & Forecast by Implementation Type, 2020-2027

9.3.8.5 Market Estimates & Forecast by End-use industries, 2020-2027

9.3.9 Italy

9.3.9.1 Market Estimates & Forecast, 2020-2027

9.3.9.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.3.9.3 Market Estimates & Forecast by Platform Type, 2020-2027

9.3.9.4 Market Estimates & Forecast by Implementation Type, 2020-2027

9.3.9.5 Market Estimates & Forecast by End-use industries, 2020-2027

9.3.10 Rest of Europe

9.3.10.1 Market Estimates & Forecast, 2020-2027

9.3.10.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.3.10.3 Market Estimates & Forecast by Platform Type, 2020-2027

9.3.10.4 Market Estimates & Forecast by Implementation Type, 2020-2027

9.3.10.5 Market Estimates & Forecast by End-use industries, 2020-2027

9.4 Asia Pacific

9.4.1 Market Estimates & Forecast, 2020-2027

9.4.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.4.3 Market Estimates & Forecast by Platform Type, 2020-2027

9.4.4 Market Estimates & Forecast by Implementation Type, 2020-2027

9.4.5 Market Estimates & Forecast by End-use industries, 2020-2027

9.4.6 China

9.4.6.1 Market Estimates & Forecast, 2020-2027

9.4.6.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.4.6.3 Market Estimates & Forecast by Platform Type, 2020-2027

9.4.6.4 Market Estimates & Forecast by Implementation Type, 2020-2027

9.4.6.5 Market Estimates & Forecast by End-use industries, 2020-2027

9.4.7 Japan

9.4.7.1 Market Estimates & Forecast, 2020-2027

9.4.7.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.4.7.3 Market Estimates & Forecast by Platform Type, 2020-2027

9.4.7.4 Market Estimates & Forecast by Implementation Type, 2020-2027

9.4.7.5 Market Estimates & Forecast by End-use industries, 2020-2027

9.4.8 Australia

9.4.8.1 Market Estimates & Forecast, 2020-2027

9.4.8.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.4.8.3 Market Estimates & Forecast by Platform Type, 2020-2027

9.4.8.4 Market Estimates & Forecast by Implementation Type, 2020-2027

9.4.8.5 Market Estimates & Forecast by End-use industries, 2020-2027

9.4.9 Rest of Asia-Pacific

9.4.9.1 Market Estimates & Forecast, 2020-2027

9.4.9.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.4.9.3 Market Estimates & Forecast by Platform Type, 2020-2027

9.4.9.4 Market Estimates & Forecast by Implementation Type, 2020-2027

9.4.9.5 Market Estimates & Forecast by End-use industries, 2020-2027

9.5 Rest of the World

9.5.1 Market Estimates & Forecast, 2020-2027

9.5.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.5.3 Market Estimates & Forecast by Platform Type, 2020-2027

9.5.4 Market Estimates & Forecast by Implementation Type, 2020-2027

9.5.5 Market Estimates & Forecast by End-use industries, 2020-2027

10 Competitive Landscape

11 Company Profile

11.1 Arctech Solar (India)

11.1.1 Company Overview

11.1.2 Product/Services Offering

11.1.3 Financial Overview

11.1.4 Key Developments

11.1.5 Strategy

11.1.6 SWOT Analysis

11.2 Convert Italia (Italy)

11.2.1 Company Overview

11.2.2 Product /Services Offering

11.2.3 Financial Overview

11.2.4 Key Developments

11.2.5 Strategy

11.2.6 SWOT Analysis

11.3 Exosun (U.S.)

11.3.1 Company Overview

11.3.2 Product /Services Offering

11.3.3 Financial Overview

11.3.4 Key Developments

11.3.5 Strategy

11.3.6 SWOT Analysis

11.4 First Solar (U.S.)

11.4.1 Company Overview

11.4.2 Product /Services Offering

11.4.3 Financial Overview

11.4.4 Key Developments

11.4.5 Strategy

11.4.6 SWOT Analysis

11.5 Grupo Clavijo (Spain)

11.5.1 Company Overview

11.5.2 Product /Services Offering

11.5.3 Financial Overview

11.5.4 Key Developments

11.5.5 Strategy

11.5.6 SWOT Analysis

11.6 Ideematec (Germany)

11.6.1 Company Overview

11.6.2 Product /Services Offering

11.6.3 Financial Overview

11.6.4 Key Developments

11.6.5 Strategy

11.6.6 SWOT Analysis

11.7 Mahindra Susten (India)

11.7.1 Company Overview

11.7.2 Product /Services Offering

11.7.3 Financial Overview

11.7.4 Key Developments

11.7.5 Strategy

11.7.6 SWOT Analysis

11.8 NClave (Spain)

11.8.1 Company Overview

11.8.2 Product /Services Offering

11.8.3 Financial Overview

11.8.4 Key Developments

11.8.5 Strategy

11.8.6 SWOT Analysis

11.9 NEXTracker (U.S.)

11.9.1 Company Overview

11.9.2 Product /Services Offering

11.9.3 Financial Overview

11.9.4 Key Developments

11.9.5 Strategy

11.9.6 SWOT Analysis

11.10 PV Hardware (U.S.)

11.10.1 Company Overview

11.10.2 Product /Services Offering

11.10.3 Financial Overview

11.10.4 Key Developments

11.10.5 Strategy

11.11 Scorpius Trackers (India)

11.11.1 Company Overview

11.11.2 Product /Services Offering

11.11.3 Financial Overview

11.11.4 Key Developments

11.11.5 Strategy

11.11.6 SWOT Analysis

11.11 Solar Steel (Spain)

11.11.1 Company Overview

11.11.2 Product /Services Offering

11.11.3 Financial Overview

11.11.4 Key Developments

11.11.5 Strategy

11.11.6 SWOT Analysis

11.13 Soltec (U.S.)

11.13.1 Company Overview

11.13.2 Product /Services Offering

11.13.3 Financial Overview

11.13.4 Key Developments

11.13.5 Strategy

11.13.6 SWOT Analysis

11.14 STI NORLAND (Spain)

11.14.1 Company Overview

11.14.2 Product /Services Offering

11.14.3 Financial Overview

11.14.4 Key Developments

11.14.5 Strategy

11.14.6 SWOT Analysis

11.15 Sun Action Trackers (U.S.)

11.15.1 Company Overview

11.15.2 Product /Services Offering

11.15.3 Financial Overview

11.15.4 Key Developments

11.15.5 Strategy

11.15.6 SWOT Analysis

11.16 SunLink (U.S.)

11.15.1 Company Overview

11.15.2 Product /Services Offering

11.15.3 Financial Overview

11.15.4 Key Developments

11.15.5 Strategy

11.15.6 SWOT Analysis

11.17 SunPower (U.S.)

11.15.1 Company Overview

11.15.2 Product /Services Offering

11.15.3 Financial Overview

11.15.4 Key Developments

11.15.5 Strategy

11.15.6 SWOT Analysis


List of Tables

Table 1 Global Solar PV Tracker Market: By Region, 2020-2027

Table 2 North America Solar PV Tracker Market: By Country, 2020-2027

Table 3 Europe Solar PV Tracker Market: By Country, 2020-2027

Table 4 Asia-Pacific Solar PV Tracker Market: By Country, 2020-2027

Table 5 RoW Solar PV Tracker Market: By Country, 2020-2027

Table 6 Global Solar PV Tracker Market, by Packaging Type, By Regions, 2020-2027

Table 7 North America Solar PV Tracker Market, by Packaging Type, By Country, 2020-2027

Table 8 Europe Solar PV Tracker Market, by Resin type, By Country, 2020-2027

Table 9 Asia-Pacific Solar PV Tracker Market by Packaging Type, By Country, 2020-2027

Table 10 RoW Solar PV Tracker Market by Packaging Type, By Country, 2020-2027

Table 11 Global Solar PV Tracker Market by Materials Market: By Regions, 2020-2027

Table 12 North America Solar PV Tracker Market by Materials: By Country, 2020-2027

Table 13 Europe Solar PV Tracker Market by Materials: By Country, 2020-2027

Table 14 Asia Pacific Solar PV Tracker Market by Materials: By Country, 2020-2027

Table 15 RoW Solar PV Tracker Market by Materials: By Country, 2020-2027

Table 16 Global Solar PV Tracker Market, by Implementation Type, By Regions, 2020-2027

Table 17 North America Solar PV Tracker Market, by Implementation Type, By Country, 2020-2027

Table 18 Europe Solar PV Tracker Market, by Implementation Type, By Country, 2020-2027

Table 19 Asia Pacific Solar PV Tracker Market, by Implementation Type, By Country, 2020-2027

Table 20 RoW Solar PV Tracker Market, by Implementation Type, By Country, 2020-2027

Table 21 Global Solar PV Tracker Market: By Region, 2020-2027

Table 22 Global Solar PV Tracker Market: By Region, 2020-2027

Table 23 Global Solar PV Tracker Market: By Region, 2020-2027

Table 24 North America Solar PV Tracker Market, By Country

Table 25 North America Solar PV Tracker Market, by Packaging Type

Table 26 North America Solar PV Tracker Market, by Materials

Table 27 North America Solar PV Tracker Market, By Implementation Type

Table 28 North America Solar PV Tracker Market, By End-User

Table 29 Europe: Solar PV Tracker Market, By Country

Table 30 Europe: Solar PV Tracker Market, by Packaging Type

Table 31 Europe: Solar PV Tracker Market, by Materials

Table 32 Europe: Solar PV Tracker Market, By Implementation Type

Table 33 Europe: Solar PV Tracker Market, By End-User

Table 34 Asia-Pacific: Solar PV Tracker Market, By Country

Table 35 Asia-Pacific: Solar PV Tracker Market, by Packaging Type

Table 36 Asia-Pacific: Solar PV Tracker Market, by Materials

Table 37 Asia-Pacific: Solar PV Tracker Market, By Implementation Type

Table 38 Asia-Pacific: Solar PV Tracker Market, By End-User

Table 39 RoW: Solar PV Tracker Market, By Region

Table 40 RoW Solar PV Tracker Market, by Packaging Type

Table 41 RoW Solar PV Tracker Market, by Materials

Table 42 RoW Solar PV Tracker Market, By Implementation Type

Table 43 RoW Solar PV Tracker Market, By End-User




List of Figures

FIGURE 1 RESEARCH PROCESS OF MRFR

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH

FIGURE 3 MARKET DYNAMICS

FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS

FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS

FIGURE 6 PORTER’S FIVE FORCES ANALYSIS

FIGURE 7 VALUE CHAIN ANALYSIS

FIGURE 8 GLOBAL SOLAR PV TRACKER MARKETSHARE, BY PACKAGING TYPE, 2020 (%)

FIGURE 9 GLOBAL SOLAR PV TRACKER MARKET, BY PACKAGING TYPE, 2020-2027 (USD MILLION)

FIGURE 10 GLOBAL SOLAR PV TRACKER MARKETSHARE, BY IMPLEMENTATION TYPE, 2020 (%)

FIGURE 11 GLOBAL SOLAR PV TRACKER MARKET, BY IMPLEMENTATION TYPE, 2020-2027 (USD MILLION)

FIGURE 12 GLOBAL SOLAR PV TRACKER MARKET SHARE (%), BY REGION, 2020

FIGURE 13 GLOBAL SOLAR PV TRACKER MARKET, BY REGION, 2020-2027 (USD MILLION)

FIGURE 14 NORTH AMERICA SOLAR PV TRACKER MARKETSHARE (%), 2020

FIGURE 15 NORTH AMERICA SOLAR PV TRACKER MARKETBY COUNTRY, 2020-2027 (USD MILLION)

FIGURE 16 EUROPE SOLAR PV TRACKER MARKETSHARE (%), 2020

FIGURE 17 EUROPE SOLAR PV TRACKER MARKETBY COUNTRY, 2020-2027 (USD MILLION)

FIGURE 18 ASIA-PACIFIC SOLAR PV TRACKER MARKETSHARE (%), 2020

FIGURE 19 ASIA-PACIFIC SOLAR PV TRACKER MARKETBY COUNTRY, 2020-2027 (USD MILLION)

FIGURE 20 REST OF THE WORLD SOLAR PV TRACKER MARKETSHARE (%), 2020

FIGURE 21 REST OF THE WORLD SOLAR PV TRACKER MARKETBY COUNTRY, 2020-2027 (USD MILLION)

Solar PV Tracker Market

Solar PV Tracker Market is projected to be worth USD 17 Million, registering a CAGR of 18.51% during the forecast period

Segmentation

By System Type Parabolic Through Power Towers Linear Fresnel Dish/Engine Type
By Tracking type Fixed Tilt Single Axis Dual Axis
By Drive system Active Systems Passive Systems
By End-Use Residential Commercial Utilities

Key Players

  • Arctech Solar (India)
  • Convert Italia (Italy)
  • Exosun (U.S.)
  • First Solar (U.S.)
  • Grupo Clavijo (Spain)
  • Ideematec (Germany)
  • Mahindra Susten (India)
  • NClave (Spain)
  • NEXTracker (U.S.)
  • PV Hardware (U.S.)
  • Scorpius Trackers (India)
  • Solar Steel(Spain)
  • Soltec(U.S.)
  • STi Norland (Spain)
  • Sun Action Trackers (U.S.)
  • SunLink (U.S.)

Drivers

  • Increased solar power installations around the world
  • New product launches and R&D Amongst major key Players
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Solar PV Tracker Market Scenario


Solar PV Tracker market is projected to grow at 18.51% CAGR during the forecast period (2021-2028).


The Solar PV Tracker Market is undergoing a significant shift away from relying solely on fossil fuel plants, such as coal and oil, in favor of renewable energy sources, including solar, wind, and geothermal. The poor power generation capability of renewable energy resources in comparison to conventional sources has always been a subject of concern. Using a solar tracker with PV systems is one technique to increase the efficiency of solar electricity generation. When compared to fixed solar panels, the primary purpose of a solar tracker is to keep the solar panel in the optimum possible sunlight.


One of the other key goals of a solar PV tracker is to use less energy and increase operational efficiency. This is because solar trackers are distinct energy-consuming entities that are attached to solar panels to boost their efficiency. Furthermore, solar trackers must provide operational reliability across a variety of operating conditions, as any impact on tracker system performance can have a significant impact on the performance of solar panels or power systems as a whole. Single-axis solar trackers are generally acknowledged in the industry around the world. Single-axis trackers are becoming increasingly popular due to their lower cost and simpler design as compared to dual-axis trackers.


The global energy industry is witnessing a drastic change from completely depending on fossil fuel plants, such as coal and oil, to renewable energy sources, such as solar, wind, and geothermal for power generation. One of the main concerns about the renewable energy resources has always been their low power production capacity compared to the conventional sources. For instance, a coal power plant with the latest technology can operate at an efficiency of 35% at its prime operating conditions and in hydropower plants, it can be much higher at 95%. However, even with the latest development and advancement in solar technology, the maximum efficiency of a solar panel at laboratory conditions stand at 24%. In real-world operating conditions, this value drops even further and hovers around 15%-18% depending on the type of technology and operating areas. This is a significant disadvantage of a renewable energy system, especially solar energy, which has a further downside of not being able to generate power during the night.


One of the ways of increasing the solar power generation efficiency is by using a solar tracker with the PV systems. A solar tracker works with the prime objective of keeping the solar panel under best possible insolation from sun compared to fixed solar panels. This is a game changer in the solar industry, as it is proved by experiments that solar trackers can actually increase the operational efficiency by up to 15% to 30% than the traditional fixed panel setup, depending on regions of operation. There are several types of solar tracking systems available in the market.


One of the other main objectives of a solar tracker is to consume less energy and maximize the efficiency of operations. This is mainly because the solar trackers are separate energy consuming entities added to solar panels for increasing their performance. Moreover, it is essential that solar trackers offer reliability of operations under different operational conditions, as any impact on tracker system performance can have a substantial impact on solar panel or power systems performance as a whole.   


Key Players


The key players of the global solar PV tracker market are Arctech Solar (India), Convert Italia (Italy), Exosun (U.S.), First Solar (U.S.),  Grupo Clavijo (Spain), Ideematec (Germany), Mahindra Susten (India), NClave (Spain),  NEXTracker (U.S.),  PV Hardware (U.S.), Scorpius Trackers (India), Solar Steel(Spain), Soltec(U.S.), STi Norland (Spain), Sun Action Trackers (U.S.), SunLink (U.S.), and SunPower (U.S.).


Industry News



  • NEXTracker announced the successful completion of its largest tracker transaction with 174 Power Global in March 2020, claiming it to be the largest of its kind in the industry. The deal called for the delivery of 3.4 GW smart solar trackers to seven 174 Power projects in the United States.

  • The largest solar tracking plant in Ukraine, with a capacity of 33 MW, was commissioned at Lyubar, Zhytomyr region, in May 2020. SolControl, Soltigua's cloud-based SCADA, was used to complete the commissioning, which was designed from the start to be optimal for remote support and monitoring of the solar plant.


Market Segmentation


Global solar PV tracker market has been segmented based on power generation type, tracking system type, tracking control systems type, end-use industries, and region. Based on power generation type, it is classified into CSP that includes parabolic through, power towers, linear Fresnel, and dish/engine type. Concentrated solar thermal systems that use solar energy for water heating and steam generation purposes use solar trackers for their operations. Based on tracking systems type, the market is segmented into fixed tilt, single axis, and dual axis tracking systems. Since the tracking systems are comparatively expensive and are an add-on to the existing systems, single axis tracking system by type is used for small-scale solar power generation technologies. However, since the utility level solar power installation systems need to be operated at full capacity and maximized operational efficiency, dual axis tracking systems are used. For easier operations of tracking systems, they are controlled by active and passive tracking systems. Active tracking systems ensure that the solar panels are perpendicular to sunlight and use sensors that determine the ideal position of the panel. Passive control systems normally operate by using compressed gas that generates a difference in pressure inside the system, based on sunlight. The passive systems are usually preferred for power systems of low capacity as they do not need a controller; however, they are slow to respond and are quite physically vulnerable to external factors, such as gusty winds and storms.


The solar PV tracking market industry is expected to majorly benefit in the coming years due to increased solar power installations around the world. The market for solar PV trackers is expected to witness huge growth in countries such as India, China, and Latin American countries.


 Solar PV Tracker market


The growth of the solar PV tracker is going to be mainly influenced by the rising installations of solar power systems around the world. As the panel prices having been recording historical low prices and feed-in-tariff rates achieving parity with conventional power generation sources, solar power generation is widely desired by countries for meeting their power requirements. As trackers can effectively bring additional 15% to 30% extra efficiency to operations, solar trackers are increasingly desired by the solar power plant operators.  However, higher installation and maintenance costs and proneness to operational failures hinder the increased implementation of solar tracker systems.



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   18.51% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, by Tracking type, Drive system, By End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Arctech Solar (India), Convert Italia (Italy), Exosun (U.S.), First Solar (U.S.), Grupo Clavijo (Spain), Ideematec (Germany), Mahindra Susten (India), NClave (Spain), NEXTracker (U.S.), PV Hardware (U.S.), Scorpius Trackers (India), Solar Steel(Spain), Soltec(U.S.), STi Norland (Spain), Sun Action Trackers (U.S.), SunLink (U.S.), and SunPower (U.S.).
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers   Increased solar power installations around the world


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Frequently Asked Questions (FAQ) :

The solar PV tracker market is poised to mark 18.51% CAGR.

The players expected to boost growth of the solar PV tracker market are Arctech Solar (India), Exosun (U.S.), Convert Italia (Italy), First Solar (U.S.), Ideematec (Germany), Grupo Clavijo (Spain), Mahindra Susten (India), NEXTracker (U.S.), NClave (Spain), PV Hardware (U.S.), SunLink (U.S.), Solar Steel(Spain), Scorpius Trackers (India), Soltec(U.S.), Sun Action Trackers (U.S.), STi Norland (Spain), and SunPower (U.S.).

High maintenance cost can restrict the growth of the solar PV tracker market in the near future.

The segments of the solar PV tracker market are active and passive.

The end user segments are commercial, residential, and utilities.