The global solar tracker market size was 14.5 Gw units in 2017. The accelerating demand for energy, the growing awareness regarding environmental pollution and the unremitting reduction in nonrenewable resources of fossil fuels have pushed mankind to shift to renewable sources such as solar energy. This shift is projected to drive the global solar tracker market. Further, owing to the favorable government’s initiatives in major countries, utility sector has widely adopted to solar trackers driving the growth of global solar tracker market during the estimated period.

Single axis solar trackers were valued at USD 2.4 billion and the production capacity was 9.4Gw units in 2017 in the global solar tracker market. A single-axis tracker moves along north to south direction along a single axis while dual axis moves both north-south & east-west along two axes. Dual axis solar trackers are costlier than single axis and hence utility sector have widely adopted to single axis making it highest selling solar tracker. Dual axis solar trackers are projected to surge in demand in the global solar tracker market as they offer more power output and are more efficient compared to the single axis.

On the basis of technology, photovoltaic solar trackers had a market share of 70% in 2017 in global solar tracker market. Photovoltaic panels produce electric energy from both direct and diffuse compared to others. Photovoltaic panels are also promoted through government subsidy and funding, thus increasing the demand for photovoltaic technology in global solar tracker market. For instance, in October 2018 Canada government announced a policy for business or corporates who all are adopting PV solar panels in solar trackers would be eligible for a full tax exemption.

Utility segment in 2017 accounted to more than 86% share in the global solar tracker market. Growing cost of electricity because of increasing demand and supply gap, the utility sector is now shifting to renewable sources such as solar are projected to increase the demand for solar trackers. Further government rules and regulation to reduce carbon emission coupled government initiatives to adopt to solar energy, utility sector are projected to widely adopt to solar trackers driving the growth of global solar tracker market.

In 2017, North America solar tracker size was 8.5Gw capacity units in the global solar tracker market. The structural design of solar tracker have proven itself under hardest climatic changes such as hurricane, snowstorms, hence major utility clients in North America have increased its adoption to reduce the environmental harms. Further, Mexico is projected for a strong growth in the region as many new solar plants are being built to power the major cities on Mexico. For instance, in 2017, NEXTracker a key player in the global solar tracker market announced to build the largest single axis solar tracker in Western Hemisphere. The long-term project will have the capacity of 750Mw and will deliver power to Northern Mexico is projected to be operational by mind 2018.

The competitive landscape of the global solar tracker market is consolidated, where major market share is held by NEXTracker, followed by Array Technologies, and then Soltec. These established companies are further pushing to gain major market share through product development, expanding production capacity coupled with acquisitions and mergers. For instance, Soltec Solar, a player global solar tracker market invested 100 million Euro in 2018 through to achieve its global expansion plan in five continents. Further, the company opened the testing site for bifacial solar panels in Livermore, CA. Other players associated in the global solar tracker market are Convert Italia SpA, Mahindra Susten, SunPower Corporation, GameChange Solar.

Segment overview of global solar tracker market

• Product Overview, 2012-2025 (USD million) (Mw units)

• Single axis
• Dual axis

• Technology Overview, 2012-2025 (Mw units)
  • Photovoltaic (PV)
  • Concentrated photovoltaic (CPV)
  • Concentrated solar power (CSP)
• Application Overview, 2012-2025 (Mw units)
  • Utility
  • Non-Utility
• Regional Overview, 2012-2025 (Mw units)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Spain
    • Rest of Europe
  • Asia Pacific
    • India
    • Japan
    • China
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Chile
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Jordan
    • Rest of MEA
    • Rest of Middle East and Africa

Reasons for the study?

• To estimate the market potential in terms of production capacity by the end of 2025
• We wanted to understand future growth opportunities of global solar tracker market
• To highlight key government initiatives that are likely to boost solar energy adoption
• To understand latest product developments offered by key players
• To study the product range of key players in the market
• To understand the impactful developments of the key players in the market, their strategic initiatives and comprehensively study their core competencies
• To study potential markets such as Asia Pacific, South America and Middle East & Africa
• Understanding the restraints or any threats

What does the report offer?

• Important parameters such as drivers, restraints, and opportunities have been discussed in detail that are likely to impact the market.
• Company profiles of the key players in the market which helped to us understand their strategies, key initiatives, and financial performance and market offerings.
• Analysis of strategic framework and market dynamics
• Government initiatives
• PORTER’s analysis
• Value chain analysis
• PESTLE analysis

Who should buy this report?

This study is suitable for industry members and stakeholders related to energy sector, who want an in-depth analysis and insight of the market. The report will benefit:

• Players in solar energy market
• Companies in solar tracker market
• Solar energy associations
• Regulatory bodies and government who wish to understand the latest technological developments in the market
• New entrants in the market wanting to understand the market dynamics
• Regional and local governments wanting to install solar tracker projects
• Analysts, educationalists, strategy managers, researchers, and academic institutions looking for insights into the market to determine future strategies and to forecast the market.
• Consulting firms