Solar Tracker Market Analysis and Forecast to 2032: By Technology (Concentrated PV Tracker, Non-Concentrated PV Tracker), Type (Single Axis and Double Axis), Application (Residential, Commercial, and Others), and Region
A solar tracker is a device that orients a payload toward the Sun. Solar trackers are used to tracking the movement of the Sun in the sky and adjust the orientation of solar panels, reflectors, or lenses to maximize the amount of sunlight that hits them. Solar trackers are used in a variety of applications, including solar power plants, solar thermal plants, and solar telescopes.
Solar trackers can be classified into two main types: active and passive. Active solar trackers use motors or other mechanisms to adjust the orientation of the payload. Passive solar trackers use the Sun’s heat to deform a material, which in turn adjusts the orientation of the payload.
Key Trends
There are several key trends in solar tracker technology. First, solar trackers are becoming more sophisticated, with more accurate tracking algorithms and better sensors. This enables them to more accurately follow the sun’s movements and produce more electricity. Second, solar trackers are becoming more durable, with better materials and construction methods. This makes them more resistant to wind, rain, and snow, and able to withstand more extreme temperatures. Third, solar trackers are becoming more affordable, as the cost of solar panels and other components continues to decline. This makes them a more attractive option for homeowners and businesses alike.
Key Drivers
The key drivers of the solar tracker market are the increasing demand for electricity, the declining cost of solar photovoltaic (PV) modules, and the increasing awareness of the benefits of solar PV systems.
The solar tracker market is driven by the increasing demand for electricity. This increase in demand for electricity is primarily due to the growing population and the increasing use of electricity in emerging economies.
The declining cost of solar PV modules is another key driver of the solar tracker market. The declining cost of solar PV modules is making solar PV systems more economically viable, and this is expected to drive the growth of the solar tracker market.
The increasing awareness of the benefits of solar PV systems is another driver of the solar tracker market. Solar PV systems offer a number of benefits, including the generation of clean and renewable energy, the reduction of greenhouse gas emissions, and the creation of jobs. The increasing awareness of these benefits is expected to drive the growth of the solar tracker market.
Restraints & Challenges
The key restraints and challenges in the Solar Tracker market include the high initial investment cost and the lack of skilled labor.
The high initial investment cost is a major barrier to the adoption of solar tracker systems. Solar tracker systems are typically more expensive than fixed-mount systems.
The lack of skilled labor is another challenge facing the solar tracker market. There is a lack of trained personnel who can install and maintain solar tracker systems. This is a major challenge for the growth of the solar tracker market.
Market Segments
The Solar Tracker Market is segmented on the basis of technology, type, application, and region. On the basis of technology, the market is bifurcated into concentrated PV tracker and non-concentrated PV tracker. By type, it is divided into single axis tracker and double axis tracker. On the basis of application, it is classified into residential, commercial, and others. Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Solar Tracker Market report includes players such as NEXTracker, Inc., Array Technologies, PVHardware, Arctech Solar, Soltec Trackers, Nclave renewable, Convert Italia, STI Norland, Gonvarri Steel Services, and GameChange Solar.
Table of Contents
Chapter 1. Market Introduction
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Methodologies
1.4. Market Estimation Techniques
Chapter 2. Executive Summary
2.1. Summary
2.2. Key Highlights of the Market
Chapter 3. Solar Tracker Market Outlook
3.1. Solar Tracker Market segmentation
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.1.1. Driver 1
3.2.1.2. Driver 2
3.2.1.3. Driver 3
3.2.2. Market Restraints
3.2.2.1. Restraint 1
3.2.2.2. Restraint 2
3.2.3. Market Opportunities
3.2.3.1. Opportunity 1
3.2.3.2. Opportunity 2
3.3. Porter’s Five Forces Analysis
3.3.1. Threat of New Entrants
3.3.2. Threat of Substitutes
3.3.3. Bargaining Power of Buyers
3.3.4. Bargaining Power of Supplier
3.3.5. Competitive Rivalry
3.4. PESTLE Analysis
3.5. Value Chain Analysis
3.5.1. Raw Material Suppliers
3.5.2. Manufacturers
3.5.3. Wholesalers and/or Retailers
3.6. Impact of the Russia and Ukraine War on the Solar Tracker Market
Chapter 4. Economic Impact of COVID-19
4.1. Overall Impact of COVID-19
4.2. Impact of COVID On the Solar Tracker Market
4.3. Economic Impact Analysis
Chapter 5. Solar Tracker Market By Technology
5.1. Market Overview
5.2. Concentrated Solar Tracker
5.2.1. Market Size and Forecast, 2022-2032 ($Million)
5.2.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
5.3. Non-Concentrated Solar Tracker
5.3.1. Market Size and Forecast, 2022-2032 ($Million)
5.3.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
Chapter 6. Solar Tracker Market By Type
6.1. Market Overview
6.2. Single Axis Tracker
6.2.1. Market Size and Forecast, 2022-2032 ($Million)
6.2.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
6.3. Double Axis Tracker
6.3.1. Market Size and Forecast, 2022-2032 ($Million)
6.3.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
Chapter 7. Solar Tracker Market By Application
7.1. Market Overview
7.2. Residential
7.2.1. Market Size and Forecast, 2022-2032 ($Million)
7.2.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
7.3. Commercial
7.3.1. Market Size and Forecast, 2022-2032 ($Million)
7.3.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
7.4. Others
7.4.1. Market Size and Forecast, 2022-2032 ($Million)
7.4.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
Chapter 8. Solar Tracker Market, by Region
8.1. Overview
8.2. North America
8.2.1. Key Market Trends and Opportunities
8.2.2. North America Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.2.3. North America Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.2.4. North America Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.2.5. The U.S.
8.2.5.1. The U.S. Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.2.5.2. The U.S. Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.2.5.3. The U.S. Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.2.6. Canada
8.2.6.1. Canada Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.2.6.2. Canada Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.2.6.3. Canada Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.2.7. Mexico
8.2.7.1. Mexico Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.2.7.2. Mexico Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.2.7.3. Mexico Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.3. Europe
8.3.1. Key Market Trends and Opportunities
8.3.2. Europe Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.3.3. Europe Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.3.4. Europe Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.3.5. Germany
8.3.5.1. Germany Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.3.5.2. Germany Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.3.5.3. Germany Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.3.6. France
8.3.6.1. France Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.3.6.2. France Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.3.6.3. France Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.3.7. U.K.
8.3.7.1. U.K. Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.3.7.2. U.K. Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.3.7.3. U.K. Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.3.8. Spain
8.3.8.1. Spain Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.3.8.2. Spain Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.3.8.3. Spain Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.3.9. Italy
8.3.9.1. Italy Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.3.9.2. Italy Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.3.9.3. Italy Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.3.10. Rest of Europe
8.3.10.1. Rest of Europe Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.3.10.2. Rest of Europe Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.3.10.3. Rest of Europe Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.4. Asia-Pacific
8.4.1. Key Market Trends and Opportunities
8.4.2. Asia-Pacific Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.4.3. Asia-Pacific Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.4.4. Asia-Pacific Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.4.5. China
8.4.5.1. China Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.4.5.2. China Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.4.5.3. China Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.4.6. India
8.4.6.1. India Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.4.6.2. India Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.4.6.3. India Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.4.7. Japan
8.4.7.1. Japan Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.4.7.2. Japan Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.4.7.3. Japan Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.4.8. South Korea
8.4.8.1. South Korea Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.4.8.2. South Korea Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.4.8.3. South Korea Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.4.9. Rest of APAC
8.4.9.1. Rest of APAC Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.4.9.2. Rest of APAC Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.4.9.3. Rest of APAC Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.5. Rest of the World
8.5.1. Key Market Trends and Opportunities
8.5.2. Rest of the World Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.5.3. Rest of the World Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.5.4. Rest of the World Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.5.5. Latin America
8.5.5.1. Latin America Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.5.5.2. Latin America Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.5.5.3. Latin America Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.5.6. Middle East
8.5.6.1. Middle East Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.5.6.2. Middle East Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.5.6.3. Middle East Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
8.5.7. Africa
8.5.7.1. Africa Solar Tracker Market Size and Forecast By Type, 2022-2032, ($Million)
8.5.7.2. Africa Solar Tracker Market Size and Forecast By Technology, 2022-2032, ($Million)
8.5.7.3. Africa Solar Tracker Market Size and Forecast By Application, 2022-2032, ($Million)
Chapter 9. Competitive Landscape
9.1. Market Overview
9.2. Market Share Analysis/Key Player Positioning
9.3. Developmental Strategy Benchmarking
9.3.1. New Product Development
9.3.2. Product Launches
9.3.3. Business Expansions
9.3.4. Partnerships, Joint Ventures, and Collaborations
9.3.5. Mergers and Acquisitions
Chapter 10. Company Profiles
10.1. NEXTracker, Inc.
10.1.1. Company Snapshot
10.1.2. Financial Performance
10.1.3. Product Offerings
10.1.4. Key Strategic Initiatives
10.1.5. SWOT Analysis
10.2. Array Technologies
10.2.1. Company Snapshot
10.2.2. Financial Performance
10.2.3. Product offerings
10.2.4. Key Strategic Initiatives
10.2.5. SWOT Analysis
10.3. PVHardware
10.3.1. Company Snapshot
10.3.2. Financial Performance
10.3.3. Product offerings
10.3.4. Key Strategic Initiatives
10.3.5. SWOT Analysis
10.4. Arctech Solar
10.4.1. Company Snapshot
10.4.2. Financial Performance
10.4.3. Product offerings
10.4.4. Key Strategic Initiatives
10.4.5. SWOT Analysis
10.5. Soltec Trackers
10.5.1. Company Snapshot
10.5.2. Financial Performance
10.5.3. Product offerings
10.5.4. Key Strategic Initiatives
10.5.5. SWOT Analysis
10.6. Nclave renewable
10.6.1. Company Snapshot
10.6.2. Financial Performance
10.6.3. Product offerings
10.6.4. Key Strategic Initiatives
10.6.5. SWOT Analysis
10.7. Convert Italia
10.7.1. Company Snapshot
10.7.2. Financial Performance
10.7.3. Product offerings
10.7.4. Key Strategic Initiatives
10.7.5. SWOT Analysis
10.8. STI Norland
10.8.1. Company Snapshot
10.8.2. Financial Performance
10.8.3. Product offerings
10.8.4. Key Strategic Initiatives
10.8.5. SWOT Analysis
10.9. Gonvarri Steel Services
10.9.1. Company Snapshot
10.9.2. Financial Performance
10.9.3. Product offerings
10.9.4. Key Strategic Initiatives
10.9.5. SWOT Analysis
10.10. GameChange Solar
10.10.1. Company Snapshot
10.10.2. Financial Performance
10.10.3. Product offerings
10.10.4. Key Strategic Initiatives
10.10.5. SWOT Analysis
*The list of companies is subject to change during the final compilation of the report
Key Players
Market Segments
By Technology
- Concentrated Solar Tracker
- Non-Concentrated Solar Tracker
By Type
- Single Axis Tracker
- Double Axis Tracker
By Application
- Residential
- Commercial
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The UK
- Germany
- France
- Spain
- Rest of Europe
- The Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- The Middle East
- Africa