Global Solar Tracker Market Size, Forecasts, And Opportunities – Includes Solar Tracker Market Growth
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The global solar tracker market is expected to grow from $6.73 billion in 2021 to $7.72 billion in 2022 at a compound annual growth rate (CAGR) of 14.69%. The global solar tracker market size is expected to grow to $13.58 billion in 2026 at a compound annual growth rate (CAGR) of 15.15%.
An increase in the number of solar panel installations across the globe is expected to propel the growth of the solar tracker market.
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The solar tracker market consists of sales of the solar tracker by entities (organizations, sole traders, and partnerships) that refer to a system that positions solar panels at an angle relative to the sun to absorb more sunlight and generate more electricity. Active solar tracking systems utilize powered machineries such as gears and motors to move solar panels, whereas passive trackers attain motion by heating compressed liquid by the sun.
Global solar tracker market segments include:
By Axis Type: Single Axis, Dual Axis
By Technology: Solar Photovoltaic (PV), Concentrated Solar Power (CSP), Concentrated Photovoltaic (CPV)
By Application: Residential, Commercial and Industrial, Utility
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global solar tracker market in 2021.
New product developments are the key trend gaining popularity in the solar tracker market. Major companies operating in the solar tracker market are focused on developing innovative products to meet industry-specific technical demands and strengthen their market position across the globe.
TBRC’s solar tracker market report covers:
Major Market Players: NEXTracker Inc, Array Technologies Inc, PVHardware, Arctech Solar, Soltec Trackers, Nclave Renewable, Convert Italia, STI Norland, Soluciones Tecnicas Integrales Norland SL, Nextracker Inc (Flex Ltd), Scorpius Trackers, Gonvarri Steel Services, GameChange Solar, Solar Steel, and Abengoa Solar.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Solar Tracker Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides solar tracker market overviews, analyzes and forecasts market size, share, solar tracker market players, solar tracker market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s solar tracker market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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