Global Trends in Photovoltaic Tracking Brackets

What is the global solar tracker market size?

The global solar tracker market size was valued at USD 7.88 billion in 2023 and is projected to grow from USD 8.67 billion in 2024 to USD 25.24 billion by 2032, exhibiting a CAGR of 14.3% during the forecast period.

How is the solar tracker market segmented?

The solar tracker market is segmented by Axis Type and Geography. By axis type, the market is segmented into Single Axis and Dual Axis. The report also covers the market size and forecasts for the market across major regions The report offers the market size and forecasts for solar trackers in revenue (USD) for all the above segments.

Are solar trackers the future of PV technology?

The use of solar trackers on PV modules requires less design regulations when compared to mirrors, lenses, and Fresnel collectors on the CSP and CPV technology trackers. These features will drive the growth of solar trackers in PV technology over the forecast period.

What is the competitive landscape of the solar tracker market?

The competitive landscape of this market depicts market dominance by major solar trackers manufacturers such as NEXTracker, PV Hardware, Array Technologies, and Soltec. NEXTracker has the maximum share in the global market, acquiring contracts from different countries in every region.

Which countries are leading the solar tracker market?

Countries such as China, the United States, Japan, Germany, India, and Australia account for most of the installed PV capacity globally, which is expected to play a significant role in the solar tracker market. The Chinese market grew with 216 GW of newly installed PV capacity in 2023, representing more than 55.26% of the global market.

What is a snapshot of global PV markets?

This 11th edition of the “Snapshot of Global PV Markets” aims at providing preliminary information on how the PV market developed in 2022. The 28th edition of the PVPS complete “Trends in Photovoltaic Applications” report will be published in Q4 2023.