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Solar Tracker Market by Technology, Capacity, Application & Forecast

The solar tracker market remains one of the most vibrant, fast-changing, and transformative sectors of the global economy. The industry is fragmented product (single & dual axis), technology (concentrated photovoltaic & concentrated solar power) & a
Adroit Market Research
Global Solar Tracker Market
Drivers, Restraints, Potential Growth Opportunities,
Vendor Competitive Landscape, Trends and Forecast
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Adroit Market Research
Global Solar Tracker Market Size, Status and Forecast 2018-2025
• Adroit Market Research studied “Global Solar Tracker Market, by product (Single Axis and Dual Axis), by technology
[Photovoltaic (PV), Concentrated Photovoltaic (CPV) and Concentrated solar power (CSP)] by application (Utility and NonUtility) and by region (North America, Europe, South America, Asia Pacific and Middle East & Africa) size and forecast
2015-2025”. The Study includes global solar tracker market size till 2025 along with company summaries which include
company overview, product offering, and recent developments and financial overview.
• The global solar tracker market size is expected to reach to 39GW capacity by the end of 2025. Increasing awareness about
sustainable & renewable sources of energy coupled with numerous government initiatives and demand & supply gap, a
worldwide power shift to solar energy is underway driving the growth of the global solar tracker market during the
forecast period.
• A single axis solar tracker system is a method wherein the solar panel tracks the sunlight from east to west along a single
pivot point to rotate. Horizontal, vertical and tilted single axis are the different types of single axis solar tracker. Single axis
is more cost-efficient and hence have surged in demand accounting to more than 60% share in the global solar tracker
market by the end of 2025. To gain maximum efficiency, orientation of the system with respect to tracker axis is most
important and dual axis have showed increased power output ratios as it shows two degree of freedom that acts on axes
of rotation. Thus, the dual axis is predicted to surge in demand with a strong growth rate of 14.6% by the end of 2025 in
global solar tracker market.
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Adroit Market Research
Global Solar Tracker Market Size, Status and Forecast 2018-2025
• Based on technology, photovoltaic solar trackers will dominate at 70% share by 2025 in global solar tracker market. Photovoltaic
panels take both direct and diffuse sunlight to produce electric energy increasing its power output. In the photovoltaic solar tracker
system, the tracker will be serving in minimizing the angle of incidence between the sunlight and the panel which increases the
amount of energy the installation generates. Improved power output and efficiency coupled with increased electricity cost due to
the supply-demand gap, photovoltaic solar trackers have surged in demand and are likely to dominate as no direct substitute is
expected in the global solar tracker market during the forecast period.
• Utility accounted to more than 80% share in the global solar tracker market. Rising demand coupled with increasing cost of
electricity, utility are now shifting to renewable sources such as solar energy are projected to surge the demand for solar trackers.
Similarly; smart city projects, reducing cost of solar trackers and government schemes across the globe are expected to boost the
demand of solar trackers in non-utility sector of the global solar tracker market.
• Jawaharlal Nehru National Solar Mission, Rooftop scheme executed by SECI (Solar Energy Corporation of India) and Ujjwal Discom
Assurance Yojna are few of the key initiatives by the government of India. Owing to these initiatives a shift towards solar energy is
seen increasing the adoption to solar trackers. Players such as Nextracker, Mahindra Susten, and Arctech Solar are investing heavily
in the country to cater the potential market, thus India is projected for a strong growth during the forecast period in global solar
tracker market. For instance, in 2016, NEXTracker a players in global solar tracker market announced that it had delivered India’s
largest solar tracker power plant with collaboration with Adani Power Ltd. in the state of Punjab with a capacity of 105 MW.
Similarly, in China, more than 500 smart city project are underway and are expected to increase the demand for sustainable solar
energy, hence solar trackers are projected to surge driving the market growth in the country. Asia Pacific, is thus projected to witness
a strong growth at a CAGR of 17.19% in the global solar tracker market.
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Adroit Market Research
Global Solar Tracker Market Size, Status and Forecast 2018-2025
• The global solar tracker market is dominated by players such as Array Technologies Inc., Arctech Solar, Soltec Renewable SL
and NEXTracker Inc. To support the growing demand major players are setting up manufacturing facilities across geography
and are also focused on partnerships with local players. For instance in 2016, NEXTracker Inc. partnered APL Apollo Tubes
Ltd a player in the steel market in India. The aim to the partnership was to cut down time required for shipment of steel
tubes and piers which form the backbone of the solar tracker system by sourcing them locally. Other players associated
with the global solar tracker market are Convert Italia SpA, Soltec, Mahindra Susten, SunPower Corporation, GameChange
Solar and First Solar.
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