Solar Trackers Market Key Highlights:
- Market Size (2024): USD 258 Million
- Projected Market Size (2034): USD 1,372 Million
- CAGR (2023-2034): 18.2%
Pricing Analysis:
- Price Growth
- Regional Variations
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
Solar Trackers Market Definition
Advancements in solar technology led to the development of solar trackers. These trackers capture maximum sunlight by orienting solar panels toward the sun, leading to more energy production compared to fixed solar panels. The rapid shift from non-renewable to renewable energy sources is a major factor contributing to market expansion. Governments around the world are offering incentives and subsidies to install solar panels, encouraging both residential and commercial sectors to invest in solar trackers.
The demand for dual-axis trackers is increasing due to their ability to capture sunlight from both sides, generating more energy than single-axis trackers. The rising demand for renewable energy, including solar energy, due to rising environmental concerns and a growing focus on reducing greenhouse gas emissions is a major factor driving the solar trackers market growth in the coming years. Furthermore, rising electricity costs have a positive impact on the market.
North America is expected to maintain its dominance in the market in the coming years due to the rising government focus on renewable energy and increasing investments in solar projects. In addition, the region is at the forefront of technological advances, leading to the development of improved solar technologies.
Solar Trackers Market Segmentation:
By Type
By Application
Marine Biotechnology Market Companies:
- Soitec SA
- Arctech
- Array Technologies
- Convert Italia
- First Solar
- NEXTracker
- Abengoa
- AllEarth Renewables
- Edisun Microgrids
- Exosun
- GameChange Solar
- Haosolar
- Mahindra Susten
- Scorpius Trackers
- Solar FlexRack
- Sun Action Trackers
- SunLink
- SunPower
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