Product Code: 364
The global solar tracker market is anticipated to grow at a significant rate through 2028 owing to the growing demand for electricity across the globe. In addition, increasing private funding as well as rising number of government initiatives to promote the adoption of solar energy are slated to further bolster market growth over the forecast timeline.
Solar energy harvesting has gained massive popularity on account of surging awareness regarding the benefits of solar energy. Using a solar panel with a solar tracker to determine an ideal value of this power is one of the ways for harvesting solar energy. There are a variety of single-axis and double-axis ways that are utilized for tracking sunlight motion.
Notably, utility-scale solar PV is considered an economical choice for introducing new electricity generation in most nations globally, especially with the escalating prices of coal and natural gas. Moreover, policy initiatives in developing nations like China and India are promoting the adoption of residential and commercial PV projects, which has fostered product outlook.
Recently, industry players have been investing in product development to expand their offerings and extend their consumer reach, thereby enhancing market dynamics. For instance, in March 2022, Nextracker, a major firm in the solar equipment space, introduced NX Horizon-XTR, its novel terrain-following and single-axis tracker. It has been developed to improve solar power deployment on sites with uneven, sloped, and challenging terrains.
The solar tracker market has been bifurcated in terms of product, technology, application, and region. With respect to the product, the industry has been further categorized into single axis and dual axis. The single-axis sub-segment is set to witness substantial growth through 2028. Higher efficiency and simple mechanism associated with these trackers are key characteristics that are expected to improve segmental uptake.
Based on technology, the solar tracker market has been classified into PV and CSP. In 2021, the global deployment of solar PV trackers exceeded USD 6.0 billion and is estimated to grow at a steady CAGR over the review timeline.
On the basis of application, the marker has been divided into residential, commercial, and utility. The residential sub-segment is poised to reach a sizable revenue by the end of 2028. Rising electricity demand would bolster product deployment in residential applications, which is likely to support segmental growth through the anticipated timeframe.
From the regional standpoint, the Africa solar tracker market is speculated to grow at a rate of about 14.7% by 2028. Meanwhile, the Middle East solar tracker industry is primed to observe strong growth over the forecast period augmented by private investments and FDI across the region.
Table of Contents
Chapter 1 Methodology
- 1.1 Methodology
- 1.2 Market definitions
- 1.3 Market estimates and forecast parameters
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Solar tracker industry 360 degree synopsis, 2018 - 2028
- 2.1.1 Business trends
- 2.1.2 Product trends
- 2.1.3 Technology trends
- 2.1.4 Application trends
- 2.1.5 Regional trends
Chapter 3 Solar Tracker Industry Insights
- 3.1 Industry Segmentation
- 3.2 Industry ecosystem analysis
- 3.3 Innovation & technology landscape
- 3.3.1 Trina Solar
- 3.3.2 SOLTEC
- 3.3.3 Convert Italia
- 3.3.4 NEXTracker
- 3.3.5 PV Hardware
- 3.3.6 Nclave
- 3.3.7 ArcelorMittal Projects Exosun
- 3.3.8 Arctech Solar
- 3.3.9 Solar FlexRack
- 3.3.10 Array Technologies
- 3.3.11 Scorpius Trackers
- 3.3.12 MecVeL SRL
- 3.3.13 Bodine Electric Company
- 3.3.14 FRABA B.V.
- 3.3.15 Arctech
- 3.3.16 Ideematec AG
- 3.4 Regulatory landscape
- 3.4.1 North America
- 3.4.1.1 U.S.
- 3.4.1.1.1 Solar Energy Industries Association (SEIA)
- 3.4.1.1.1.1 UL 3703
- 3.4.1.1.2 Florida
- 3.4.1.2 Mexico
- 3.4.2 Europe
- 3.4.2.1 Regulation
- 3.4.2.2 UK
- 3.4.2.2.1 2009/28/EC Renewable Energy Directive
- 3.4.2.2.2 The UK's National Energy Efficiency Action Plan
- 3.4.2.2.3 Feed-In Tariff (FIT)
- 3.4.2.3 Spain
- 3.4.3 Asia Pacific
- 3.4.3.1 China
- 3.4.3.2 India
- 3.4.3.2.1 National Tariff Policy (Dated 28th January 2016)
- 3.4.3.2.2 International Solar Alliance
- 3.4.3.2.3 Central Financial Assistance (CFA) schemes
- 3.4.3.3 Australia
- 3.4.4 Africa
- 3.4.4.1 South Africa
- 3.4.4.1.1 Renewable Energy Independent Power Producer Programme (REIPPP)
- 3.4.4.1.2 Integrated Resource Plan for Electricity (IRP)
- 3.4.5 Latin America
- 3.5 COVID- 19 impact on the industry outlook
- 3.5.1 Top 10 countries impacted by COVID- 19
- 3.5.2 Overall view
- 3.6 Industry impact forces
- 3.6.1 Growth drivers
- 3.6.1.1 Growing focus on utility scale projects
- 3.6.1.2 Stringent clean energy targets
- 3.6.1.3 Increasing off grid electricity demand
- 3.6.2 Industry pitfalls & challenges
- 3.6.2.1 High initial cost
- 3.7 Growth potential analysis
- 3.8 Porter's Analysis
- 3.8.1 Threat of new entrants
- 3.8.2 Supplier power
- 3.8.3 Buyer power
- 3.8.4 Threat of new substitutes
- 3.9 Competitive landscape, 2021
- 3.9.1 Strategy dashboard
- 3.9.1.1 Solar tracker manufacturers
- 3.9.1.1.1 SunPower Corporation
- 3.9.1.1.1.1 Product development
- 3.9.1.1.1.2 Partnership
- 3.9.1.1.2 Array Technologies
- 3.9.1.1.2.1 Acquisition
- 3.9.1.1.2.2 Agreements
- 3.9.1.1.2.3 Installation/supply
- 3.9.1.1.2.4 Product launch
- 3.9.1.1.3 NEXTracker
- 3.9.1.1.3.1 Product launch
- 3.9.1.1.3.2 Partnership agreement
- 3.9.1.1.3.3 Product launch
- 3.9.1.1.4 Arctech
- 3.9.1.1.4.1 Agreements
- 3.9.1.1.5 Trina Solar
- 3.9.1.1.5.1 Acquisition
- 3.9.1.1.6 Ideematec AG
- 3.9.1.1.6.1 Collaboration
- 3.9.1.1.7 First Solar
- 3.9.1.1.7.1 Agreement
- 3.9.1.1.8 PV Hardware
- 3.9.1.1.8.1 Agreement
- 3.9.1.1.8.2 Collaborations
- 3.9.1.1.8.3 Product launch
- 3.9.1.1.9 Arctech Solar
- 3.9.1.1.9.1 Website launch
- 3.9.1.1.9.2 Business expansion
- 3.9.1.1.9.3 Product launch
- 3.9.1.1.10 Soltec
- 3.9.1.1.10.1 Product launch
- 3.9.1.1.10.2 Awards
- 3.9.1.1.10.3 Product Launch
- 3.9.1.1.10.4 Business expansion
- 3.9.1.1.11 GameChange Solar
- 3.9.1.1.11.1 Installation/supply
- 3.9.1.1.12 Convert Italia
- 3.9.1.1.12.1 Memorandum of Understanding
- 3.9.1.1.12.2 Product launch
- 3.9.1.1.13 RP Construction Services, Inc.
- 3.9.1.1.13.1 Partnership
- 3.9.1.1.14 STI Norland
- 3.9.1.1.14.1 Product launch
- 3.9.1.1.14.2 Acquisition
- 3.9.1.1.15 Scorpius Trackers
- 3.9.1.1.15.1 Product launch
- 3.9.1.1.16 Gonvarri Steel Services
- 3.9.1.1.16.1 Installation/supply
- 3.9.1.1.17 ArcelorMittal
- 3.9.1.1.17.1 Divesture
- 3.9.1.1.18 DEGER energie GmbH & Co. KG
- 3.9.1.1.18.1 Joint venture
- 3.10 PESTEL Analysis
Chapter 4 Solar Tracker Market, By Product
- 4.1 Solar tracker market share by product, 2021 & 2028
- 4.2 Single axis
- 4.2.1 Global market from single axis, 2018 - 2028
- 4.2.2 Global market from single axis, by region, 2018 - 2028
- 4.2.3 Horizontal
- 4.2.3.1 Global market from horizontal, 2018 - 2028
- 4.2.3.2 Global market from horizontal, by region, 2018 - 2028
- 4.2.4 Vertical
- 4.2.4.1 Global market from vertical, 2018 - 2028
- 4.2.4.2 Global market from vertical, by region, 2018 - 2028
- 4.3 Dual axis
- 4.3.1 Global market from dual axis, 2018 - 2028
- 4.3.2 Global market from dual axis, by region, 2018 - 2028
Chapter 5 Solar Tracker Market, By Technology
- 5.1 Solar tracker market share by technology, 2021 & 2028
- 5.2 PV
- 5.2.1 Global market from PV, 2018 - 2028
- 5.2.2 Global market from PV, by region, 2018 - 2028
- 5.3 CSP
- 5.3.1 Global market from CSP, 2018 - 2028
- 5.3.2 Global market from CSP, by region, 2018 - 2028
Chapter 6 Solar Tracker Market, By Application
- 6.1 Solar tracker market share by application, 2021 & 2028
- 6.2 Residential
- 6.2.1 Global market from residential, 2018 - 2028
- 6.2.2 Global market from residential, by region, 2018 - 2028
- 6.3 Commercial & industrial
- 6.3.1 Global market from commercial & industrial, 2018 - 2028
- 6.3.2 Global market from commercial & industrial, by region, 2018 - 2028
- 6.4 Utility
- 6.4.1 Global market from utility, 2018 - 2028
- 6.4.2 Global market from utility, by region, 2018 - 2028
Chapter 7 Solar Tracker Market, By Region
- 7.1 Solar tracker market share by region, 2021 & 2028
- 7.2 North America
- 7.2.1 North America market, 2018 - 2028
- 7.2.2 North America market by product, 2018 - 2028
- 7.2.2.1 North America market by single axis, 2018 - 2028
- 7.2.3 North America market by technology, 2018 - 2028
- 7.2.4 North America market by application, 2018 - 2028
Similar information is provided for
- 7.2.5 U.S.
- 7.2.6 Canada
- 7.2.7 Mexico
- 7.3 Europe
- 7.3.1 Europe market, 2018 - 2028
- 7.3.2 Europe market by product, 2018 - 2028
- 7.3.2.1 Europe market by single axis, 2018 - 2028
- 7.3.3 Europe market by technology, 2018 - 2028
- 7.3.4 Europe market by application, 2018 - 2028
Similar information is provided for
- 7.3.5 UK
- 7.3.6 France
- 7.3.7 Netherlands
- 7.3.8 Germany
- 7.3.9 Sweden
- 7.3.10 Russia
- 7.3.11 Spain
- 7.3.12 Austria
- 7.4 Asia Pacific
- 7.4.1 Asia Pacific market, 2018 - 2028
- 7.4.2 Asia Pacific market by product, 2018 - 2028
- 7.4.2.1 Asia Pacific market by single axis, 2018 - 2028
- 7.4.3 Asia Pacific market by technology, 2018 - 2028
- 7.4.4 Asia Pacific market by application, 2018 - 2028
Similar information is provided for
- 7.4.5 China
- 7.4.6 Australia
- 7.4.7 India
- 7.4.8 Japan
- 7.4.9 South Korea
- 7.5 Middle East
- 7.5.1 Middle East market, 2018 - 2028
- 7.5.2 Middle East market by product, 2018 - 2028
- 7.5.2.1 Middle East market by single axis, 2018 - 2028
- 7.5.3 Middle East market by technology, 2018 - 2028
- 7.5.4 Middle East market by application, 2018 - 2028
Similar information is provided for
- 7.5.5 Saudi Arabia
- 7.5.6 UAE
- 7.5.7 Jordan
- 7.5.8 Israel
- 7.6 Africa
- 7.6.1 Africa market, 2018 - 2028
- 7.6.2 Africa market by product, 2018 - 2028
- 7.6.2.1 Africa market by single axis, 2018 - 2028
- 7.6.3 Africa market by technology, 2018 - 2028
- 7.6.4 Africa market by application, 2018 - 2028
Similar information is provided for
- 7.6.5 South Africa
- 7.6.6 Egypt
- 7.6.7 Algeria
- 7.6.8 Nigeria
- 7.6.9 Morocco
- 7.7 Latin America
- 7.7.1 Latin America market, 2018 - 2028
- 7.7.2 Latin America market by product, 2018 - 2028
- 7.7.2.1 Latin America market by single axis, 2018 - 2028
- 7.7.3 Latin America market by technology, 2018 - 2028
- 7.7.4 Latin America market by application, 2018 - 2028
Similar information is provided for
Chapter 8 Company Profiles
- 8.1 Solar Tracker supplier/manufacturer
- 8.1.1 NEXTracker, Inc.
- 8.1.1.1 Business Overview
- 8.1.1.2 Financial Data
- 8.1.1.3 Product Landscape
- 8.1.1.4 Strategic Outlook
- 8.1.1.5 SWOT Analysis
- 8.1.2 Array Technologies, Inc.
- 8.1.2.1 Business Overview
- 8.1.2.2 Financial Data
- 8.1.2.3 Product Landscape
- 8.1.2.4 Strategic Outlook
- 8.1.2.5 SWOT Analysis
- 8.1.3 Abengoa Solar
- 8.1.3.1 Business Overview
- 8.1.3.2 Financial Data
- 8.1.3.3 Product Landscape
- 8.1.3.4 SWOT Analysis
- 8.1.4 SunPower Corporation
- 8.1.4.1 Business Overview
- 8.1.4.2 Financial Data
- 8.1.4.3 Product Landscape
- 8.1.4.4 Strategic Outlook
- 8.1.4.5 SWOT Analysis
- 8.1.5 Meca Solar
- 8.1.5.1 Business Overview
- 8.1.5.2 Financial Data
- 8.1.5.3 Product Landscape
- 8.1.5.4 SWOT Analysis
- 8.1.6 Powerway
- 8.1.6.1 Business Overview
- 8.1.6.2 Financial Data
- 8.1.6.3 Product Landscape
- 8.1.6.4 SWOT Analysis
- 8.1.7 Trina Solar
- 8.1.7.1 Business Overview
- 8.1.7.2 Financial Data
- 8.1.7.3 Product Landscape
- 8.1.7.4 Strategic Outlook
- 8.1.7.5 SWOT Analysis
- 8.1.8 Haosolar Co. Ltd
- 8.1.8.1 Business Overview
- 8.1.8.2 Financial Data
- 8.1.8.3 Product Landscape
- 8.1.8.4
- 8.1.8.5 SWOT Analysis
- 8.1.9 SOLTEC
- 8.1.9.1 Business Overview
- 8.1.9.2 Financial Data
- 8.1.9.3 Product Landscape
- 8.1.9.4 Strategic Outlook
- 8.1.9.5 SWOT Analysis
- 8.1.10 SmartTrak Solar Systems (Pvt) Ltd.
- 8.1.10.1 Business Overview
- 8.1.10.2 Financial Data
- 8.1.10.3 Product Landscape
- 8.1.10.4 SWOT Analysis
- 8.1.11 Scorpius Trackers
- 8.1.11.1 Business Overview
- 8.1.11.2 Financial Data
- 8.1.11.3 Product Landscape
- 8.1.11.4 Strategic Outlook
- 8.1.11.5 SWOT Analysis
- 8.1.12 AllEarth Renewables
- 8.1.12.1 Business Overview
- 8.1.12.2 Financial Data
- 8.1.12.3 Product Landscape
- 8.1.12.4 SWOT Analysis
- 8.1.13 DEGER energie GmbH & Co. KG
- 8.1.13.1 Business Overview
- 8.1.13.2 Financial Data
- 8.1.13.3 Product Landscape
- 8.1.13.4 Strategic Outlook
- 8.1.13.5 SWOT Analysis
- 8.1.14 Arctech
- 8.1.14.1 Business Overview
- 8.1.14.2 Financial Data
- 8.1.14.3 Product Landscape
- 8.1.14.4 Strategic Outlook
- 8.1.14.5 SWOT Analysis
- 8.1.15 Convert Italia
- 8.1.15.1 Business Overview
- 8.1.15.2 Financial Data
- 8.1.15.3 Product Landscape
- 8.1.15.4 Strategic Outlook
- 8.1.15.5 SWOT Analysis
- 8.1.16 PV Hardware
- 8.1.16.1 Business Overview
- 8.1.16.2 Financial Data
- 8.1.16.3 Product Landscape
- 8.1.16.4 Strategic Outlook
- 8.1.16.5 SWOT Analysis
- 8.1.17 STI Norland
- 8.1.17.1 Business Overview
- 8.1.17.2 Financial Data
- 8.1.17.3 Product Landscape
- 8.1.17.4 Strategic Outlook
- 8.1.17.5 SWOT Analysis
- 8.1.18 GameChange Solar
- 8.1.18.1 Business Overview
- 8.1.18.2 Financial Data
- 8.1.18.3 Product Landscape
- 8.1.18.4 SWOT Analysis
- 8.1.19 Gonvarri Steel Services
- 8.1.19.1 Business Overview
- 8.1.19.2 Financial Data
- 8.1.19.3 Product Landscape
- 8.1.19.4 Strategic Outlook
- 8.1.19.5 SWOT Analysis
- 8.1.20 ArcelorMittal
- 8.1.20.1 Business Overview
- 8.1.20.2 Financial Data
- 8.1.20.3 Product Landscape
- 8.1.20.4 Strategic Outlook
- 8.1.20.5 SWOT Analysis
- 8.1.21 Ideematec AG
- 8.1.21.1 Business Overview
- 8.1.21.2 Financial Data
- 8.1.21.3 Product Landscape
- 8.1.21.4 Strategic Outlook
- 8.1.21.5 SWOT Analysis
- 8.1.22 NCLAVE
- 8.1.22.1 Business Overview
- 8.1.22.2 Financial Data
- 8.1.22.3 Product Landscape
- 8.1.22.4 Strategic Outlook
- 8.1.22.5 SWOT Analysis
- 8.2 Component Supplier/Manufacturer
- 8.2.1 Slew Drives
- 8.2.1.1 Cone Drive
- 8.2.1.1.1 Business Overview
- 8.2.1.1.2 Financial Data
- 8.2.1.1.3 Product Landscape
- 8.2.1.1.4 Strategic Outlook
- 8.2.1.1.5 SWOT Analysis
- 8.2.1.2 Vulcan Industries
- 8.2.1.2.1 Business Overview
- 8.2.1.2.2 Financial Data
- 8.2.1.2.3 Product Landscape
- 8.2.1.2.4 SWOT Analysis
- 8.2.1.3 Xuzhou WanDa Slewing Bearing Co., Ltd.
- 8.2.1.3.1 Business Overview
- 8.2.1.3.2 Financial Data
- 8.2.1.3.3 Product Landscape
- 8.2.1.3.4 SWOT Analysis
- 8.2.1.4 Kinematics Manufacturing
- 8.2.1.4.1 Business Overview
- 8.2.1.4.2 Financial Data
- 8.2.1.4.3 Product Landscape
- 8.2.1.4.4 Strategic Outlook
- 8.2.1.4.5 SWOT Analysis
- 8.2.1.5 TGB Group
- 8.2.1.5.1 Business Overview
- 8.2.1.5.2 Financial Data
- 8.2.1.5.3 Product Landscape
- 8.2.1.5.4 SWOT Analysis
- 8.2.1.6 Kavitsu Bearings
- 8.2.1.6.1 Business Overview
- 8.2.1.6.2 Financial Data
- 8.2.1.6.3 Product Landscape
- 8.2.1.6.4 SWOT Analysis
- 8.2.1.7 Brown Advance, S.A.
- 8.2.1.7.1 Business Overview
- 8.2.1.7.2 Financial Data
- 8.2.1.7.3 Product Landscape
- 8.2.1.7.4 SWOT Analysis
- 8.2.1.8 EKO Instruments B.V.
- 8.2.1.8.1 Business Overview
- 8.2.1.8.2 Financial Data
- 8.2.1.8.3 Product Landscape
- 8.2.1.8.4 SWOT Analysis
- 8.2.1.9 Framo Morat
- 8.2.1.9.1 Business Overview
- 8.2.1.9.2 Financial Data
- 8.2.1.9.3 Product Landscape
- 8.2.1.9.4 SWOT Analysis
- 8.2.1.10 Kipp & Zonen B.V.
- 8.2.1.10.1 Business Overview
- 8.2.1.10.2 Financial Data
- 8.2.1.10.3 Product Landscape
- 8.2.1.10.4 Strategic Outlook
- 8.2.1.10.5 SWOT Analysis
- 8.2.1.11 Precision Solar Technologies Corporation
- 8.2.1.11.1 Business Overview
- 8.2.1.11.2 Financial Data
- 8.2.1.11.3 Product Landscape
- 8.2.1.11.4 SWOT Analysis
- 8.2.1.12 Siemens AG
- 8.2.1.12.1 Business Overview
- 8.2.1.12.2 Financial Data
- 8.2.1.12.3 Product Landscape
- 8.2.1.12.4 Strategic Outlook
- 8.2.1.12.5 SWOT Analysis
- 8.2.1.13 Jiangyin Sunslew Machinery Equipment Co., Ltd.
- 8.2.1.13.1 Business Overview
- 8.2.1.13.2 Product Landscape
- 8.2.1.13.3 SWOT Analysis
- 8.2.1.14 Potesta & Company, LLC.
- 8.2.1.14.1 Business Overview
- 8.2.1.14.2 Financial Data
- 8.2.1.14.3 Product Landscape
- 8.2.1.14.4 SWOT Analysis
- 8.2.2 Controllers
- 8.2.2.1 SOLTEC
- 8.2.2.1.1 Business Overview
- 8.2.2.1.2 Financial Data
- 8.2.2.1.3 Product Landscape
- 8.2.2.1.4 Strategic Outlook
- 8.2.2.1.5 SWOT Analysis
- 8.2.2.2 Lauritzen Inc.
- 8.2.2.2.1 Business Overview
- 8.2.2.2.2 Financial Data
- 8.2.2.2.3 Product Landscape
- 8.2.2.2.4 SWOT Analysis
- 8.2.2.3 P4Q
- 8.2.2.3.1 Business Overview
- 8.2.2.3.2 Financial Data
- 8.2.2.3.3 Product Landscape
- 8.2.2.3.4 SWOT Analysis
- 8.2.2.4 FUSIONSEEKER
- 8.2.2.4.1 Business Overview
- 8.2.2.4.2 Financial Information
- 8.2.2.4.3 Product Landscape
- 8.2.2.4.4 SWOT Analysis
- 8.2.2.5 ECO-WORTHY
- 8.2.2.5.1 Business Overview
- 8.2.2.5.2 Product Landscape
- 8.2.2.5.3 SWOT Analysis
- 8.2.2.6 VOLANSYS Technologies
- 8.2.2.6.1 Business Overview
- 8.2.2.6.2 Financial Data
- 8.2.2.6.3 Product Landscape
- 8.2.2.6.4 Strategic Outlook
- 8.2.2.6.5 SWOT Analysis
- 8.2.2.7 OnTrack Solar
- 8.2.2.7.1 Business Overview
- 8.2.2.7.2 Product Landscape
- 8.2.2.7.3 SWOT Analysis
- 8.2.2.8 Startak
- 8.2.2.8.1 Business Overview
- 8.2.2.8.2 Product Landscape
- 8.2.2.8.3 SWOT Analysis