Solar Tracker Market Overview

Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “Solar Tracker Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The report provides the current state of the Solar Tracker market by thorough analysis, and projections are made up to 2030.

Solar Tracker Market CAGR Estimation:

Global 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 %.

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Solar Tracker Market Scope and Methodology:

The study provides an extensive understanding of the details of the Solar Tracker industry using both qualitative and quantitative analysis. The Solar Tracker market was estimated using a bottom-up methodology. Both primary and secondary data gathering techniques were used to get the information needed for the analysis. Several techniques, including questionnaires and surveys, are employed in the primary method's data collection procedure. In addition to commercial sources like Bloomberg News and the database Hoovers for data collection, secondary sources include articles, government publications, and annual reports.

The condition of market consolidations and acquisitions, R&D activities, advancement, cutting-edge industry techniques, and buyer direct are all carefully examined in the study in order to evaluate the market prediction. Methods, organizational charts, portfolios, and a critical assessment of prominent business leaders are all included in the research. The Solar Tracker market an extensive SWOT analysis and PESTLE study of doors were carried out to ascertain market trends and current microeconomic variables.

Solar Tracker Market Regional Insights:

Gaining an in-depth understanding of regional viewpoints is necessary to comprehend the intricate dynamics of the Solar Tracker market. The numerous regions that comprise the Solar Tracker market include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The study offers a comprehensive analysis of the factors, market size, growth rate, and volume of imports and exports in every area. The Regional Analysis section displays the current status of the Solar Tracker market in each of the countries covered in the research.

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Solar Tracker Market Segmentation:

by Type

Single Axis
Dual Axis

Compared to single-axis trackers, dual-axis trackers are substantially more expensive. 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 tracking poles may be high enough for crops, animals grazing beneath the panels, and other highly specialized installations like farms for dual land use, dual-axis trackers are usually used on these kinds of installations.

by Application

Residential
Commercial
Utility

According to market forecasts, the utility segment of the solar tracker market is anticipated to grow at the fastest rate of growth. 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 programs and growing government subsidies, trackers are being used widely in utility applications, particularly in North America and Europe.

by Technology

Solar Photovoltaic (PV)
Concentrated Solar Power (CSP)
Concentrated Photovoltaic (CPV)

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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 questions answered in the Solar Tracker Market are:

• What is Solar Tracker?
• Who are the leading companies and what are their portfolios in Solar Tracker Market?
• What growth strategies are the players considering to increase their presence in Solar Tracker?
• What are the upcoming industry applications and trends for the Solar Tracker Market?
• Which are the factors expected to drive the Solar Tracker market growth?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Solar Tracker Market?
• What was the Solar Tracker market size in 2023?
• What are the different segments of the Solar Tracker Market?
• What will be the CAGR at which the Solar Tracker market will grow?
• What is the growth rate of the Solar Tracker Market?
• What segments are covered in the Solar Tracker Market?
• What are the key challenges and opportunities in the Solar Tracker market?
• Which application holds the highest potential in the Solar Tracker market?
• Who are the key players in the Solar Tracker market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2023)
• Past Pricing and price curve by region (2018 to 2023)
• Market Size, Share, Size & Forecast by different segment | 2024−2030
• 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

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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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