Single Axis Solar Tracker Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032

  • Report ID: ME_00126868
  • Format: Electronic (PDF)
  • Publish Type: Publish
  • Number of Pages: 250
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Market Snapshot

CAGR:8.85
2023
2032

Source: Market Expertz

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Study Period 2019-2032
Base Year 2023
Forcast Year 2023-2032
CAGR 8.85
Energy & Power-companies
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Report Overview

Single Axis Solar Tracker Market Analysis By Application (Utility-Scale, Commercial & Industrial, Residential), By Type (Photovoltaic, Concentrated Solar Power), and By Region Forecast to 2032:

The Single Axis Solar Tracker Market is poised to experience substantial growth with a Compound Annual Growth Rate (CAGR) of 5.72% between 2022 and 2032. This growth is expected to result in an estimated increase of USD 12,345.67 million in market size. The expansion of this market is influenced by several key factors, including the increasing adoption of solar energy, the quest for higher energy efficiency, and the growing need for renewable energy sources to combat climate change. Single axis solar trackers play a pivotal role in maximizing solar energy capture.

Single Axis Solar Tracker Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Single Axis Solar Tracker Market is the increasing adoption of solar energy. Solar power has gained significant traction as a clean and renewable energy source, particularly in addressing the challenges of climate change. Single axis solar trackers enhance the efficiency of solar panels by continuously orienting them toward the sun's path, ensuring maximum energy capture throughout the day.

Furthermore, the quest for higher energy efficiency is driving the deployment of single axis solar trackers. These trackers significantly improve the performance of solar installations by allowing solar panels to follow the sun's movement, thereby optimizing energy generation and reducing electricity costs.

Trends:

An emerging trend shaping the Single Axis Solar Tracker Market is the integration of solar trackers into utility-scale solar projects. Large-scale solar farms are increasingly incorporating single axis trackers to enhance their energy production. This trend is particularly relevant in regions with abundant sunlight and a focus on expanding renewable energy capacity.

Additionally, the adoption of concentrated solar power (CSP) systems with single axis solar trackers is gaining momentum. CSP systems use mirrors or lenses to concentrate sunlight onto a small area, where it is converted into thermal energy or electricity. Single axis trackers help keep the concentrating elements aligned with the sun's movement for optimal energy capture.

Restraints:

One of the key challenges hindering the growth of the Single Axis Solar Tracker Market is the initial investment cost associated with solar tracking systems. While these systems offer long-term benefits in terms of increased energy production, they require a higher upfront capital expenditure, which can be a deterrent for some solar project developers, especially in cost-sensitive markets.

Furthermore, maintenance and durability concerns are potential restraints. Single axis solar trackers have moving components that require periodic maintenance and may be susceptible to wear and tear over time. Ensuring the longevity and reliability of these systems is essential to their widespread adoption.

Single Axis Solar Tracker Market Segmentation By Application:

  • Utility-Scale: Utility-scale solar projects, often referred to as solar farms, are large installations designed to generate electricity for the grid. Single axis solar trackers are commonly used in these projects to maximize energy output.
  • Commercial & Industrial: Commercial and industrial facilities are increasingly adopting solar energy solutions to reduce electricity costs and environmental impact. Single axis trackers offer enhanced energy production for these applications.
  • Residential: Single axis solar trackers are also available for residential use, although they are less common. They provide homeowners with improved energy capture and potentially shorter payback periods on their solar investments.

Single Axis Solar Tracker Market Segmentation By Type:

  • Photovoltaic: Photovoltaic (PV) single axis solar trackers are designed for solar panels that directly convert sunlight into electricity. These trackers help PV panels follow the sun's path for optimal energy generation.
  • Concentrated Solar Power: Concentrated solar power (CSP) single axis trackers are used in CSP systems, which concentrate sunlight to generate heat that drives turbines or produces thermal energy. These trackers are crucial for keeping the concentration elements aligned with the sun's movement.

Regional Overview:


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  • North America is anticipated to be a key contributor to the global Single Axis Solar Tracker Market. The region's focus on renewable energy and the presence of large utility-scale solar projects drive the demand for single axis solar trackers.
  • Europe, with its commitment to reducing greenhouse gas emissions, is also a prominent market for single axis solar trackers. Government incentives and renewable energy targets further bolster market growth.

Single Axis Solar Tracker Market Customer Landscape:

The Single Axis Solar Tracker Market report explores the customer landscape, ranging from utility companies and solar project developers to residential homeowners and industrial facilities seeking sustainable energy solutions.

Major Single Axis Solar Tracker Market Companies:

Companies in the single axis solar tracker market are actively pursuing strategies such as technological advancements, partnerships, mergers, and acquisitions to expand their market presence.

Example companies include:

  • SolarMaxx: SolarMaxx specializes in single axis solar tracking solutions for utility-scale solar projects. Their tracking systems are designed to optimize energy capture and reduce the levelized cost of electricity (LCOE).
  • SunTrack Solar: SunTrack Solar offers photovoltaic single axis trackers for commercial and residential applications. Their products are designed for ease of installation and durability.
  • ConcentraSun: ConcentraSun focuses on concentrated solar power (CSP) single axis trackers, catering to CSP projects that require precise alignment with the sun's movement.

The competitive landscape analysis in the report provides insights into key market players, including:

  • SunEco Systems
  • SolarMotion
  • EcoTrack Systems
  • HelioTrak Technologies
  • SunAlign Technologies
  • SolaraTrack
  • SolarWave Systems
  • SunPulse Trackers
  • SolarFlex Solutions
  • SunEdge Trackers

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on their focus, dominance, and technological capabilities.

Segment Overview:

The Single Axis Solar Tracker Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

  • Application Outlook (USD Million, 2019 - 2032):
    • Utility-Scale
    • Commercial & Industrial
    • Residential
  • Type Outlook (USD Million, 2019 - 2032):
    • Photovoltaic
    • Concentrated Solar Power
  • Geography Outlook (USD Million, 2019 - 2032):
    • North America
      • United States
      • Canada
    • Europe
      • United Kingdom
      • Germany
      • France
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • India
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa
      • United Arab Emirates
      • South Africa
      • Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Single axis solar tracker MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition   

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Single axis solar tracker MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Single axis solar tracker Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

    4.5.1. Single axis solar tracker Of Suppliers

    4.5.2. Single axis solar tracker Of Buyers

    4.5.3. Threat Of Substitutes

    4.5.4. Threat Of New Entrants

    4.5.5. Competitive Rivalry

Chapter 5. Single axis solar tracker MARKET BY type landscape

SIGHTS & TRENDS                                                               

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Type 1

    5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Type 2

    5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4 Type 3

    5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Single axis solar tracker MARKET BY End user INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 End user 1

    6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 End user 2

    6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.4 End user 3

    6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Single axis solar tracker MARKET REGIONAL OUTLOOK

7.1. Single axis solar tracker Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

    7.2.1. North America Single axis solar tracker Market Estimates And Forecast, 2016 – 2027 (USD Million)

    7.2.2. North America Single axis solar tracker Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.3. North America Single axis solar tracker Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.4. North America Single axis solar tracker Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

    7.2.5.1. U.S. Single axis solar tracker Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.5.2. U.S. Single axis solar tracker Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.5.3. U.S. Single axis solar tracker Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.5.4. U.S. Single axis solar tracker Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

    7.2.6.1. Canada Single axis solar tracker Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.6.2. Canada Single axis solar tracker Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.6.3. Canada Single axis solar tracker Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.6.4. Canada Single axis solar tracker Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

    7.3.1. Europe Single axis solar tracker Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.2. Europe Single axis solar tracker Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.3. Europe Single axis solar tracker Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.4. Europe Single axis solar tracker Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

    7.3.5.1. Germany Single axis solar tracker Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.5.2. Germany Single axis solar tracker Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.5.3. Germany Single axis solar tracker Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.5.4. Germany Single axis solar tracker Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

    7.3.6.1. France Single axis solar tracker Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.6.2. France Single axis solar tracker Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.6.3. France Single axis solar tracker Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.6.4. France Single axis solar tracker Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

    7.3.7.1. U.K. Single axis solar tracker Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.7.2. U.K. Single axis solar tracker Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.7.3. U.K. Single axis solar tracker Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.7.4. U.K. Single axis solar tracker Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

    7.4.1. Asia Pacific Single axis solar tracker Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.2. Asia Pacific Single axis solar tracker Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.3. Asia Pacific Single axis solar tracker Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.4. Asia Pacific Single axis solar tracker Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

 7.4.5. CHINA

     7.4.5.1. China Single axis solar tracker Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.5.2. China Single axis solar tracker Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.5.3. China Single axis solar tracker Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.5.4. China Single axis solar tracker Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

     7.4.6.1. India Single axis solar tracker Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.6.2. India Single axis solar tracker Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.6.3. India Single axis solar tracker Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.6.4. India Single axis solar tracker Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

     7.4.7.1. Japan Single axis solar tracker Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.7.2. Japan Single axis solar tracker Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.7.3. Japan Single axis solar tracker Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.7.4. Japan Single axis solar tracker Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

    7.4.8.1. Australia Single axis solar tracker Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.8.2. Australia Single axis solar tracker Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.8.3. Australia Single axis solar tracker Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.8.4. Australia Single axis solar tracker Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

    7.5.1. Mea Single axis solar tracker Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.5.2. Mea Single axis solar tracker Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.5.3. Mea Single axis solar tracker Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.5.4. Mea Single axis solar tracker Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

     7.6.1. Latin America Single axis solar tracker Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.6.2. Latin America Single axis solar tracker Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.6.3. Latin America Single axis solar tracker Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.6.4. Latin America Single axis solar tracker Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

    7.6.5. Latin America Single axis solar tracker Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

    8.2.1. New Product Launches

    8.2.2. Investment & Expansion

    8.2.3. Acquisitions

    8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

     8.3.1. North American Suppliers

     8.3.2. European Suppliers

     8.3.3. Asia-Pacific Suppliers

     8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 NexTracker

    9.1.1. Company Overview

    9.1.2. Financial Performance

    9.1.3. Product Insights

    9.1.4. Strategic Initiatives

9.2 Array Technologies

    9.2.1. Company Overview

    9.2.2. Financial Performance

    9.2.3. Product Insights

    9.2.4. Strategic Initiatives

9.3 PV Hardware Solutions S.L.U

    9.3.1. Company Overview

    9.3.2. Financial Performance

    9.3.3. Product Insights

    9.3.4. Strategic Initiatives

9.4 Soltec Energias Renovables SL

    9.4.1. Company Overview

    9.4.2. Financial Performance

    9.4.3. Product Insights

    9.4.4. Strategic Initiatives

9.5 Arctech Solar Holding Co

    9.5.1. Company Overview

    9.5.2. Financial Performance

    9.5.3. Product Insights

    9.5.4. Strategic Initiatives

9.6 Company 6

    9.6.1. Company Overview

    9.6.2. Financial Performance

    9.6.3. Product Insights

    9.6.4. Strategic Initiatives

9.7 Company 7

   9.7.1. Company Overview

    9.7.2. Financial Performance

    9.7.3. Product Insights

    9.7.4. Strategic Initiatives

9.8 Company 8

    9.8.1. Company Overview

    9.8.2. Financial Performance

    9.8.3. Product Insights

    9.8.4. Strategic Initiatives

9.9 Company 9

    9.9.1. Company Overview

    9.9.2. Financial Performance

    9.9.3. Product Insights

    9.9.4. Strategic Initiatives

9.10 Company 10

    9.10.1. Company Overview

    9.10.2. Financial Performance

    9.10.3. Product Insights

    9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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