1. Home
  2. > Energy & Environment
  3. > Energy
  4. > Renewable Energy
  5. > Solar Energy Market Trends
Solar Tracker Global Market Report 2022

Solar Tracker Global Market Report 2022

  • September 2022
  • 175 pages
  • ID: 6318502
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the solar tracker market are 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.

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 solar tracker market is expected to grow to $13.58 billion in 2026 at a compound annual growth rate (CAGR) of 15.15%.

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 tracker attains motion by heating compressed liquid by the sun.

The main axis type of solar tracker includes a single axis and dual axis.A single-axis solar tracking system moves a PV panel on an approximate trajectory relative to the Sun’s position using a tilted PV panel mount and one electric motor.

The axis of rotation can be horizontal, vertical, or oblique.The solar tracker is deployed on different technologies which include solar photovoltaic (PV), concentrated solar power (CSP), and concentrated photovoltaic (CPV).

They are widely used in residential, commercial & industrial, and utility applications.

North America was the largest region in the solar tracker market in 2021. The regions covered in the solar tracker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The solar tracker market research report is one of a series of new reports that provides solar tracker market statistics, including solar tracker industry global market size, regional shares, competitors with a solar tracker market share, detailed solar tracker market segments, market trends and opportunities, and any further data you may need to thrive in the solar tracker industry. This solar tracker market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

An increase in the number of solar panel installations across the globe is expected to propel the growth of the solar tracker market.Increasing government shift toward renewable energy projects and growing investment by residential customers towards environmentally friendly energy sources have contributed to strong growth in solar panel installations across the globe.

The rapid growth in solar panel installations is expected to boost demand for solar trackers, as they are widely used to enhance the energy output and efficiency in new installations.According to the International Energy Agency (IEA) Solar PV tracking report published in 2021, In 2020, overall, 133 GW of solar PV were installed globally.

Additionally, the solar power generation across the globe increased from 665.0TWh in 2019 to 821.0TWh in 2020, at a year-on-year growth rate of 23%. Thus, an increase in the number of solar panel installations is expected to boost demand for solar trackers during the forecast period.

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.

For instance, in October 2021, Arctech, a company that provides tracking, racking, and BIPV solutions, launched a new device called system Skyline II, a 1P single-axis tracker equipped with a pentagonal torque tube design. Skyline II only triggers wind stows at 22m/s, which leads to up to 2% more energy yield per year resulting in a decrease in energy cost.

In January 2022, Array, a USA-based manufacturer of solar trackers, acquired STI Norland for $652.16 million. With this acquisition, STI Norland will be part of the Array, and this deal is an essential first step in Array’s expansion strategy, to increase its business presence across the globe. The merging of Array and STI Norland is predicted to have dominant positions in the solar market outside China and India. It also allows the company to continue relationships with key international customers and create access to a lower-cost, proven product. STI Norland is a Spanish-based manufacturer of solar trackers.

The countries covered in the solar tracker market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

North America Batteries for Solar Energy Storage Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Battery Type, Application, and Connectivity

  • $ 3000
  • October 2022
  • 118 pages

The batteries for solar energy storage market in North America is expected to grow from US$ 665.88 million in 2022 to US$ 1,876.17 million by 2028; it is estimated to grow at a CAGR of 18.8% from 2022 ...

  • North America
  • Battery
  • Solar Energy
  • Industry analysis
  • Solar Generation
  • Solar Capacity

ref:plp2022

Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on