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Global Solar Tracker Market: By Technology: Solar PV, Concentrator Photovoltaic (CPV), Concentrated Solar Power (CSP), Others; By Application: Utility, Non-Utility; By Product: Single Axis, Dual Axis; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Solar Tracker Market Outlook

The global solar tracker market was estimated at 27 GW in 2020 and is expected to grow at a CAGR of 30% in the forecast period of 2023-2028.

 

Global Solar Tracker Market

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The solar tracker market is driven by the increasing need for solar cells or photovoltaic cells and solar tracker benefits such as improved cell performance. Photovoltaic cells are used with the help of sunlight to transform solar energy into a flow of electrons.

 

Market Segmentation

A solar tracker is a device directed toward the sun by a payload. Trackers are used to enable optical components in CPV and CSP systems in concentrator photovoltaics (CPV) and concentrated solar power (CSP) applications.

 

Global Solar Tracker Market By Application

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The solar tracker market can be segmented into technology, applications, and products. The industry can be broadly categorised based on technology into:

  • Solar PV
  • Concentrator Photovoltaic (CPV)
  • Concentrated Solar Power (CSP)
  • Others

The industry can be divided based on applications as:

  • Utility 
  • Non-Utility
  • Others

Based on the products, the industry can be divided into:

  • Single Axis
  • Dual Axis

The EMR report looks into the regional solar tracker markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific regions.

 

Global Solar Tracker Market By Region

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Market Analysis

The solar tracker market is driven by the rapid increase in the use of solar trackers. Solar monitor in the direction of the sun guides solar panels or modules. The two types of material used for this purpose are the single axis and dual axis. The former product category is commonly used as it is fairly cost-effective and easy to install and run. Due to the increasing number of installed capacities, Europe and North America had a significant market share in the past years and are projected to increase impressively during the forecast period. In addition, one of the key drivers of consumer demand in these regions is the favourable legislation for installing solar trackers. It is predicted that the involvement of well-established companies in North America, increasing R&D programs, strict regulations for regulating environmental emissions, and the increased funding, feed-in tariffs, and government subsidies will further push the solar tracker market over the forecast period. Favourable government regulations are projected to have a positive impact on the industry growth in most regions around the globe. In addition, the increasing numbers of government incentives to encourage the value and use of solar panels are also projected to boost the solar tracker market development.

 

Competitive Landscape

The report presents a detailed analysis of the following key players in the global solar tracker market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • SunPower Corporation (NASDAQ: SPWR)
  • Abengoa S.A.
  • Array Technologies Inc.
  • AllEarth Renewables
  • DEGERenergie GmbH & Co. KG
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter's Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Technology, Application, Product, Region
Breakup by Technology Solar PV, Concentrator Photovoltaic (CPV), Concentrated Solar Power (CSP), Others
Breakup by Application Utility, Non-Utility, Others
Breakup by Product Single Axis, Dual Axis
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered SunPower Corporation (NASDAQ: SPWR), Abengoa S.A., Array Technologies Inc., AllEarth Renewables, DEGERenergie GmbH & Co. KG, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Solar Tracker Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Solar Tracker Historical Market (2018-2022) 
    8.3    Global Solar Tracker Market Forecast (2023-2028)
    8.4    Global Solar Tracker Market by Technology
        8.4.1    Solar PV
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Concentrator Photovoltaic (CPV)
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Concentrated Solar Power (CSP)
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Others
    8.5    Global Solar Tracker Market by Application
        8.5.1    Utility  
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Non-Utility
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Others
    8.6    Global Solar Tracker Market by Product
        8.6.1    Single Axis
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Dual Axis
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
    8.7    Global Solar Tracker Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2018-2022)
        9.1.2    Forecast Trend (2023-2028)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2018-2022)
        9.2.2    Forecast Trend (2023-2028)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2018-2022)
        9.3.2    Forecast Trend (2023-2028)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2018-2022)
        9.4.2    Forecast Trend (2023-2028)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2018-2022)
        9.5.2    Forecast Trend (2023-2028)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    SunPower Corporation
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Array Technologies, Inc. 
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    AllEarth Renewables, Inc. 
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Deger Energie GMBH & CO. KG 
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Nextracker Inc. 
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    PV Hardware Solutions, S.L.U. 
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Others
13    Industry Events and Developments


List of Key Figures and Tables

1.    Global Solar Tracker Market: Key Industry Highlights, 2017 and 2021
2.    Global Solar Tracker Historical Market: Breakup by Technology (USD Million), 2018-2022
3.    Global Solar Tracker Market Forecast: Breakup by Technology (USD Million), 2023-2028
4.    Global Solar Tracker Historical Market: Breakup by Application (USD Million), 2018-2022
5.    Global Solar Tracker Market Forecast: Breakup by Application (USD Million), 2023-2028
6.    Global Solar Tracker Historical Market: Breakup by Product (USD Million), 2018-2022
7.    Global Solar Tracker Market Forecast: Breakup by Product (USD Million), 2023-2028
8.    Global Solar Tracker Historical Market: Breakup by Region (USD Million), 2018-2022
9.    Global Solar Tracker Market Forecast: Breakup by Region (USD Million), 2023-2028
10.    North America Solar Tracker Historical Market: Breakup by Country (USD Million), 2018-2022
11.    North America Solar Tracker Market Forecast: Breakup by Country (USD Million), 2023-2028
12.    Europe Solar Tracker Historical Market: Breakup by Country (USD Million), 2018-2022
13.    Europe Solar Tracker Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Asia Pacific Solar Tracker Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Asia Pacific Solar Tracker Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Latin America Solar Tracker Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Latin America Solar Tracker Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Middle East and Africa Solar Tracker Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Middle East and Africa Solar Tracker Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Global Solar Tracker Market Structure

Key Questions Answered in the Report

The global solar tracker market reached the volume of about 27 GW.

The market is projected to grow at a CAGR of 30% between 2021 and 2026.

The major drivers of the industry include increasing R&D programs, strict regulations for regulating environmental emissions, and the increased funding, feed-in tariffs, and government subsidies.

The increasing need for solar cells or photovoltaic cells and solar tracker benefits such as improved cell performance is expected to be a key trend guiding the growth of the industry.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The technology-based classifications of solar trackers available are Ssolar PV, concentrator photovoltaic (CPV), and concentrated solar power (CSP), amongst others.

Solar trackers find applications as utility, and non-utility, amongst others.

There are single axis and dual axis products for solar trackers.

The leading players in this market are SunPower Corporation (NASDAQ: SPWR), Abengoa S.A., Array Technologies Inc., AllEarth Renewables, and DEGERenergie GmbH & Co. KG, amongst others.

Analyst Review

The global solar tracker market is estimated at 27 GW in 2020, driven by the include increasing R&D programs, strict regulations for regulating environmental emissions, and the increased funding, feed-in tariffs, and government subsidies. Aided by the increasing need for solar cells or photovoltaic cells and solar tracker benefits such as improved cell performance, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 30%.

EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on technology, the solar trackers market can be segmented into solar PV, concentrator photovoltaic (CPV), and concentrated solar power (CSP), amongst others. By application, the industry can be divided into utility, and non-utility, amongst others. There are single axis and dual axis products for solar trackers. The major regional markets in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific. The leading players in this market are SunPower Corporation (NASDAQ: SPWR), Abengoa S.A., Array Technologies Inc., AllEarth Renewables, and DEGERenergie GmbH & Co. KG, amongst others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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