Solar Tracker Market Size, Share & Trends Report

Solar Tracker Market Size, Share & Trends Analysis Report By Technology (Solar Photovoltaic (PV), Concentrator Photovoltaic), By Type (Single Axis, Dual Axis), By Application (Utility, Non-utility), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-267-9
  • Number of Pages: 130
  • Format: Electronic (PDF)

Market Segmentation

  • Solar Tracker Technology Outlook (Volume, Megawatt; Revenue, USD Million, 2018 - 2030)
    • Solar Photovoltaic (PV)
    • Concentrated Solar Power (CSP)
    • Concentrated Photovoltaic (CPV)
  • Solar Tracker Type Outlook (Volume, Megawatt; Revenue, USD Million, 2018 - 2030)
    • Single Axis
    • Dual Axis
  • Solar Tracker Application Outlook (Volume, Megawatt; Revenue, USD, 2018 - 2030)
    • Utility
    • Non-utility
  • Solar Tracker Regional Outlook (Volume, Megawatt; Revenue, USD Million, 2018 - 2030)
    • North America
      • North America Solar Tracker Market, By Technology
        • Solar Photovoltaic (PV)
        • Concentrated Solar Power (CSP)
        • Concentrated Photovoltaic (CPV)
      • North America Solar Tracker Market, By Type
        • Single Axis
        • Dual Axis
      • North America Solar Tracker Market, By Application
        • Utility
        • Non-utility
      • U.S.
        • U.S. Solar Tracker Market, By Technology
          • Solar Photovoltaic (PV)
          • Concentrated Solar Power (CSP)
          • Concentrated Photovoltaic (CPV)
        • U.S. Solar Tracker Market, By Type
          • Single Axis
          • Dual Axis
        • U.S. Solar Tracker Market, By Application
          • Utility
          • Non-utility
      • Canada
        • Canada Solar Tracker Market, By Technology
          • Solar Photovoltaic (PV)
          • Concentrated Solar Power (CSP)
          • Concentrated Photovoltaic (CPV)
        • Canada Solar Tracker Market, By Type
          • Single Axis
          • Dual Axis
        • Canada Solar Tracker Market, By Application
          • Utility
          • Non-utility
      • Mexico
        • Mexico Solar Tracker Market, By Technology
          • Solar Photovoltaic (PV)
          • Concentrated Solar Power (CSP)
          • Concentrated Photovoltaic (CPV)
        • Mexico Solar Tracker Market, By Type
          • Single Axis
          • Dual Axis
        • Mexico Solar Tracker Market, By Application
          • Utility
          • Non-utility
    • Europe
      • Europe Solar Tracker Market, By Technology
        • Solar Photovoltaic (PV)
        • Concentrated Solar Power (CSP)
        • Concentrated Photovoltaic (CPV)
      • Europe Solar Tracker Market, By Type
        • Single Axis
        • Dual Axis
      • Europe Solar Tracker Market, By Application
        • Utility
        • Non-utility
      • Germany
        • Germany Solar Tracker Market, By Technology
          • Solar Photovoltaic (PV)
          • Concentrated Solar Power (CSP)
          • Concentrated Photovoltaic (CPV)
        • Germany Solar Tracker Market, By Type
          • Single Axis
          • Dual Axis
        • Germany Solar Tracker Market, By Application
          • Utility
          • Non-utility
      • Spain
        • Spain Solar Tracker Market, By Technology
          • Solar Photovoltaic (PV)
          • Concentrated Solar Power (CSP)
          • Concentrated Photovoltaic (CPV)
        • Spain Solar Tracker Market, By Type
          • Single Axis
          • Dual Axis
        • Spain Solar Tracker Market, By Application
          • Utility
          • Non-utility
      • Italy
        • Italy Solar Tracker Market, By Technology
          • Solar Photovoltaic (PV)
          • Concentrated Solar Power (CSP)
          • Concentrated Photovoltaic (CPV)
        • Italy Solar Tracker Market, By Type
          • Single Axis
          • Dual Axis
        • Italy Solar Tracker Market, By Application
          • Utility
          • Non-utility
      • France
        • France Solar Tracker Market, By Technology
          • Solar Photovoltaic (PV)
          • Concentrated Solar Power (CSP)
          • Concentrated Photovoltaic (CPV)
        • France Solar Tracker Market, By Type
          • Single Axis
          • Dual Axis
        • France Solar Tracker Market, By Application
          • Utility
          • Non-utility
    • Asia Pacific
      • Asia Pacific Solar Tracker Market, By Technology
        • Solar Photovoltaic (PV)
        • Concentrated Solar Power (CSP)
        • Concentrated Photovoltaic (CPV)
      • Asia Pacific Solar Tracker Market, By Type
        • Single Axis
        • Dual Axis
      • Asia Pacific Solar Tracker Market, By Application
        • Utility
        • Non-utility
      • China
        • China Solar Tracker Market, By Technology
          • Solar Photovoltaic (PV)
          • Concentrated Solar Power (CSP)
          • Concentrated Photovoltaic (CPV)
        • China Solar Tracker Market, By Type
          • Single Axis
          • Dual Axis
        • China Solar Tracker Market, By Application
          • Utility
          • Non-utility
      • India
        • India Solar Tracker Market, By Technology
          • Solar Photovoltaic (PV)
          • Concentrated Solar Power (CSP)
          • Concentrated Photovoltaic (CPV)
        • India Solar Tracker Market, By Type
          • Single Axis
          • Dual Axis
        • India Solar Tracker Market, By Application
          • Utility
          • Non-utility
      • Japan
        • Japan Solar Tracker Market, By Technology
          • Solar Photovoltaic (PV)
          • Concentrated Solar Power (CSP)
          • Concentrated Photovoltaic (CPV)
        • Japan Solar Tracker Market, By Type
          • Single Axis
          • Dual Axis
        • Japan Solar Tracker Market, By Application
          • Utility
          • Non-utility
    • Central & South America
      • Central & South America Solar Tracker Market, By Technology
        • Solar Photovoltaic (PV)
        • Concentrated Solar Power (CSP)
        • Concentrated Photovoltaic (CPV)
      • Central & South America Solar Tracker Market, By Type
        • Single Axis
        • Dual Axis
      • Central & South America Solar Tracker Market, By Application
        • Utility
        • Non-utility
      • Brazil
        • Brazil Solar Tracker Market, By Technology
          • Solar Photovoltaic (PV)
          • Concentrated Solar Power (CSP)
          • Concentrated Photovoltaic (CPV)
        • Brazil Solar Tracker Market, By Type
          • Single Axis
          • Dual Axis
        • Brazil Solar Tracker Market, By Application
          • Utility
          • Non-utility
      • Chile
        • Chile Solar Tracker Market, By Technology
          • Solar Photovoltaic (PV)
          • Concentrated Solar Power (CSP)
          • Concentrated Photovoltaic (CPV)
        • Chile Solar Tracker Market, By Type
          • Single Axis
          • Dual Axis
        • Chile Solar Tracker Market, By Application
          • Utility
          • Non-utility
    • Middle East & Africa
      • Middle East & Africa Solar Tracker Market, By Technology
        • Solar Photovoltaic (PV)
        • Concentrated Solar Power (CSP)
        • Concentrated Photovoltaic (CPV)
      • Middle East & Africa Solar Tracker Market, By Type
        • Single Axis
        • Dual Axis
      • Middle East & Africa Solar Tracker Market, By Application
        • Utility
        • Non-utility
      • UAE
        • UAE Solar Tracker Market, By Technology
          • Solar Photovoltaic (PV)
          • Concentrated Solar Power (CSP)
          • Concentrated Photovoltaic (CPV)
        • UAE Solar Tracker Market, By Type
          • Single Axis
          • Dual Axis
        • UAE Solar Tracker Market, By Application
          • Utility
          • Non-utility
      • Saudi Arabia
        • Saudi Arabia Solar Tracker Market, By Technology
          • Solar Photovoltaic (PV)
          • Concentrated Solar Power (CSP)
          • Concentrated Photovoltaic (CPV)
        • Saudi Arabia Solar Tracker Market, By Type
          • Single Axis
          • Dual Axis
        • Saudi Arabia Solar Tracker Market, By Application
          • Utility
          • Non-utility

Solar Tracker Market Dynamics

Driver: Rising demand for photovoltaic cells globally

Photovoltaic cells (solar cells) are mainly employed to convert solar energy into a flow of electrons. These cells produce electricity from sunlight which can be used to run equipment or to recharge batteries. Initially, photovoltaic cells were used to power spacecraft and orbiting satellites. However, in recent years, they have been increasingly used for grid-connected electricity generation. Photovoltaic systems aim to maximize productivity during the period in which they face direct sunlight for better performance. Solar trackers are devices that are employed to achieve this by moving photovoltaic panels in the direction of the sun. Hence, increasing solar PV demand in various regions is expected to propel the solar tracker market over the projected period. Solar PV technology has been one of the fastest-growing renewable sources of energy over the past few years. These systems are employed in residential, commercial, and utility applications on account of various factors including decreasing cost and high efficiency. Increasing government focus on renewable energy has resulted in the development of PV cells as a sustainable and continuous source of energy generation. Rising capacity expansions in various regions have led to a levelized cost of electricity (LCOE) that has made solar PV competitive with other conventional forms of energy. 

Restraint: Capital-intensive technology

High capital cost due to high technology prices is a primary barrier to solar tracker deployment globally. High initial costs hinder potential market participants entering in this space. Installation costs of solar tracker systems depend upon the type of infrastructure needed. However, solar tracker systems are priced on the higher side due to the high cost of solar panels, acquisition, space, installation, and maintenance. In large-scale applications, regular maintenance is necessary for the consistent performance of these trackers. Increased complexity inevitably introduces additional possibilities for malfunction and failures and hence needs extra maintenance. This is likely to increase the cost for consumers and thus restrain market growth. Solar trackers should generally be employed for large installations, where the cost per kilowatt for the tracker becomes much lower. As 10 kW is the feed-in tariff limit in most regions, fitting a solar tracker will allow the consumer to maximize generation income. Furthermore, annual energy generation by a 10 kW panel is approximately 20,800 kW/year, the system cost is USD 50,000, and the expected useful life of the panel is about 25 years. Hence, the employment of trackers in large installations is more effective than that in the case of small installations.

What Does This Report Include?

This section will provide insights into the contents included in this solar tracker market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Solar tracker market qualitative analysis

  • Industry overview

  • Industry trends

  • Market drivers and restraints

  • Market size

  • Growth prospects

  • Porter’s analysis

  • PESTEL analysis

  • Key market opportunities prioritized

  • Competitive landscape

    • Company overview

    • Financial performance

    • Product benchmarking

    • Latest strategic developments

Solar tracker market quantitative analysis

  • Market size, estimates, and forecast from 2018 to 2030

  • Market estimates and forecast for product segments up to 2030

  • Regional market size and forecast for product segments up to 2030

  • Market estimates and forecast for application segments up to 2030

  • Regional market size and forecast for application segments up to 2030

  • Company financial performance

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