Summary
Solar PV Tracker Market Research Report Information by Technology (Solar Photovoltaic, Concentrated PV, and Concentrated Solar Power), By Axis (Single Axis, and Dual-Axis), By End-User (Industrial, Commercial, and Utilities), By Drive System (Active System, Passive System, and Manual System) And by Region (North America, Europe, Asia-Pacific, And Rest of the World) Forecast Till 2032
Overview of the Market
Over the course of the forecast period, the solar PV tracker market is anticipated to increase at a compound annual growth rate (CAGR) of 10.0%. The main factors propelling the market expansion include growing government emphasis on renewable energy, growing concerns about energy conservation and the switch from non-renewable to renewable energy and growing solar power use in developing nations.
The increasing use of renewable energy sources for power generation is driving the solar PV trackers market's compound annual growth rate. Renewable energy sources including wind, solar, hydropower, nuclear, and others have replaced fossil fuels like coal, oil, and petroleum due to the scarcity of these natural resources, the ongoing population growth, and rising electricity costs. Because the sun is a plentiful source of energy for producing electricity, solar energy is one of the most often used net zero renewable energy sources.
Perspectives on Market Segments
The worldwide solar PV tracker market has been divided into two segments based on axis: single-axis and dual-axis. With a value share of 90.90 percent in 2023, the single-axis category led the global solar PV tracker market and is anticipated to grow at a compound annual growth rate (CAGR) of 10.2% during the forecast period.
The global market for solar PV trackers has been divided into three segments based on technology: concentrated solar power, solar photovoltaic, and concentrated PV.
The global market for solar PV trackers has been divided into three segments based on driving system: active, passive, and manual. With a 66.06% market share in 2023, the Active System category led the industry.
The global market for solar PV trackers has been divided into three segments based on end-users: residential, commercial, and industrial. With a 74.26% market share in 2023, the industrial segment led the market and is anticipated to grow at a CAGR of 10.4% during the forecast period.
Regional Perspectives
The global market for solar PV trackers has been divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. With a 34.48% market share in 2023, the Asia Pacific region led the industry and is anticipated to grow at a compound annual growth rate (CAGR) of 11.7% during the forecast period.
The Asia-Pacific solar PV tracker market will be the largest due to rising government regulations and investments, which will increase demand for solar PV trackers and spur market expansion in this area.
Due to encouraging government policies and a growing emphasis on renewable energy, Europe's solar PV tracker industry holds the second-largest market share.
From 2023 to 2032, the solar PV tracker market in North America is anticipated to expand at the quickest compound annual growth rate. This is because of the growing emphasis on renewable energy and the falling price of solar trackers, which are driving the market expansion in this area.
Important participants
PVHardware, MECASOLAR, IDEEMATEC, Soltec, Arctech, GameChange Solar, Trina Solar, AllEarth Renewables, Xiamen Grace Solar Technology, Lingyang Technologies Inc., Array Technologies, and Nextracker Inc are some of the leading companies in the solar PV tracker market.
ページTOPに戻る
Table of Contents
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY ............................................................................................................... 19
2 MARKET INTRODUCTION ............................................................................................................ 25
2.1 DEFINITION .................................................................................................................................................................. 25
2.2 SCOPE OF THE STUDY .............................................................................................................................................. 25
2.3 RESEARCH OBJECTIVE ............................................................................................................................................ 25
2.4 MARKET STRUCTURE .............................................................................................................................................. 26
3 RESEARCH METHODOLOGY ...................................................................................................... 27
3.1 OVERVIEW .................................................................................................................................................................... 27
3.2 DATA FLOW .................................................................................................................................................................. 29
3.2.1 DATA MINING PROCESS ................................................................................................................................. 29
3.3 PURCHASED DATABASE: ......................................................................................................................................... 30
3.4 SECONDARY SOURCES: ............................................................................................................................................ 31
3.4.1 SECONDARY RESEARCH DATA FLOW: ............................................................................................................. 32
3.5 PRIMARY RESEARCH: ............................................................................................................................................... 33
3.5.1 PRIMARY RESEARCH DATA FLOW: ................................................................................................................. 34
3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED ......................................................................... 35
3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE .................................................................................................. 35
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: ........................................................................................... 36
3.6.1 TRADE ANALYSIS APPROACH ......................................................................................................................... 36
3.7 DATA FORECASTING................................................................................................................................................. 36
3.7.1 DATA FORECASTING TECHNIQUE .................................................................................................................... 37
3.8 DATA MODELING ........................................................................................................................................................ 38
3.8.1 MICROECONOMIC FACTOR ANALYSIS: ............................................................................................................ 38
3.8.2 DATA MODELING: ........................................................................................................................................... 39
3.9 TEAMS AND ANALYST CONTRIBUTION ........................................................................................................... 41
4 MARKET DYNAMICS .................................................................................................................... 43
4.1 INTRODUCTION ........................................................................................................................................................... 43
4.2 DRIVERS ......................................................................................................................................................................... 44
4.2.1 RISING DEMAND FOR OFF-GRID SOLAR PANEL SYSTEMS ................................................................................. 44
4.2.2 RISING ENVIRONMENTAL CONCERNS AND REGULATIONS ............................................................................... 45
4.3 RESTRAINTS ................................................................................................................................................................ 47
4.3.1 HIGH INITIAL COST ........................................................................................................................................ 47
4.3.2 FLUCTUATING RAW MATERIAL PRICES ........................................................................................................... 48
4.4 OPPORTUNITY ............................................................................................................................................................. 50
4.4.1 GROWING ENERGY DEMAND AND SECURITY.................................................................................................... 50
4.4.2 DEVELOPMENT OF ADVANCED TECHNOLOGIES .............................................................................................. 52
4.5 IMPACT ANALYSIS OF COVID-19 .......................................................................................................................... 53
4.5.1 IMPACT ON DEMAND ..................................................................................................................................... 53
4.5.2 IMPACT ON SUPPLY ....................................................................................................................................... 53
4.6 RUSSIA-UKRAINE WAR IMPACT ANALYSIS ................................................................................................... 53
4.6.1 IMPACT OF ECONOMIC SLOWDOWN ............................................................................................................... 53
5 MARKET FACTOR ANALYSIS ...................................................................................................... 54
5.1 SUPPLY/VALUE CHAIN ANALYSIS ..................................................................................................................... 54
5.1.1 PARTICIPANTS ............................................................................................................................................... 54
5.1.1.1 SUBASSEMBLIES SUPPLIERS .................................................................................................................. 54
5.1.1.1.1 SUBASSEMBLIES TRENDS ................................................................................................................. 54
5.1.1.1.2 LIST OF SUBASSEMBLIES SUPPLIERS ................................................................................................ 55
5.1.1.2 COMPONENT SYSTEM MANUFACTURERS / ASSEMBLER ......................................................................... 55
5.1.1.3 DISTRIBUTORS ....................................................................................................................................... 55
5.1.1.3.1 LIST OF DISTRIBUTORS ..................................................................................................................... 56
5.1.1.4 END-USERS ............................................................................................................................................ 56
5.1.1.4.1 LIST OF POTENTIAL END USERS ........................................................................................................ 57
5.2 PORTER’S FIVE FORCES MODEL ........................................................................................................................... 58
5.2.1 THREAT OF NEW ENTRANTS ........................................................................................................................... 58
5.2.2 THREAT OF SUBSTITUTES .............................................................................................................................. 59
5.2.3 BARGAINING POWER OF SUPPLIERS ............................................................................................................... 59
5.2.4 BARGAINING POWER OF BUYERS .................................................................................................................... 59
5.2.5 INTENSITY OF RIVALRY .................................................................................................................................. 59
5.3 BUSINESS ENVIRONMENT ANALYSIS ............................................................................................................... 60
5.3.1 PESTEL ANALYSIS .......................................................................................................................................... 60
5.4 PRICING ANALYSIS, BY REGION (2018-2032) (USD/KW) ............................................................................... 61
5.5 TECHNOLOGICAL ADVANCEMENTS ................................................................................................................... 61
5.5.1 TECHNOLOGICAL ADVANCEMENTS ................................................................................................................ 61
5.5.2 TECHNOLOGY ROADMAP ................................................................................................................................ 61
5.5.3 COMPATIBILITY WITH APPLICATION............................................................................................................... 62
5.5.4 INNOVATIONS ................................................................................................................................................ 62
5.6 TARIFFS, STANDARDS, AND REGULATORY LANDSCAPE ........................................................................... 62
5.6.1 TARIFFS ......................................................................................................................................................... 62
5.6.2 CERTIFICATION AND STANDARDS ................................................................................................................... 63
5.6.2.1 IEC STANDARDS ..................................................................................................................................... 63
5.6.2.2 IEEE STANDARDS ................................................................................................................................... 64
5.6.3 GOVERNMENT REGULATIONS & POLICIES ....................................................................................................... 64
5.6.3.1 COUNTRY WISE GOVERNMENT REGULATIONS & POLICIES ....................................................................... 64
5.7 RESEARCH AND DEVELOPMENT REVIEW ....................................................................................................... 66
5.7.1 INVESTMENT IN NEW TEST TECHNOLOGIES .................................................................................................... 66
5.8 CASE STUDY ANALYSIS .......................................................................................................................................... 67
5.8.1 USE CASES 1 .................................................................................................................................................. 67
5.8.1.1 OVERVIEW ............................................................................................................................................. 67
5.8.2 USE CASES 2 .................................................................................................................................................. 68
6 GLOBAL SOLAR PV TRACKER MARKET, BY AXIS .................................................................... 70
6.1 INTRODUCTION ........................................................................................................................................................... 70
6.1.1 SINGLE AXIS .................................................................................................................................................. 70
6.1.2 DUAL- AXIS .................................................................................................................................................... 70
7 GLOBAL SOLAR PV TRACKER MARKET, BY TECHNOLOGY .................................................... 72
7.1 INTRODUCTION ........................................................................................................................................................... 72
7.1.1 SOLAR PHOTOVOLTAIC (PV) ........................................................................................................................... 72
7.1.2 CONCENTRATED PHOTOVOLTAIC (CPV) ......................................................................................................... 72
7.1.3 CONCENTRATED SOLAR POWER (CSP) ............................................................................................................ 72
8 GLOBAL SOLAR PV TRACKER MARKET, BY DRIVE SYSTEM .................................................. 74
8.1 INTRODUCTION ........................................................................................................................................................... 74
8.1.1 ACTIVE SYSTEM ............................................................................................................................................. 74
8.1.2 PASSIVE SYSTEM ........................................................................................................................................... 74
8.1.3 MANUAL SYSTEM ........................................................................................................................................... 74
9 GLOBAL SOLAR PV TRACKER MARKET, BY END USER .......................................................... 76
9.1 INTRODUCTION ........................................................................................................................................................... 76
9.1.1 INDUSTRIAL ................................................................................................................................................... 76
9.1.2 RESIDENTIAL.................................................................................................................................................. 76
9.1.3 COMMERCIAL ................................................................................................................................................ 76
10 GLOBAL SOLAR PV TRACKER MARKET, BY REGION ............................................................... 78
10.1 INTRODUCTION ........................................................................................................................................................... 78
10.1.1 NORTH AMERICA ............................................................................................................................................ 79
10.1.1.1 US ......................................................................................................................................................... 80
10.1.1.2 CANADA ................................................................................................................................................ 81
10.1.1.3 MEXICO ................................................................................................................................................. 82
10.1.2 EUROPE ......................................................................................................................................................... 83
10.1.2.1 GERMANY .............................................................................................................................................. 84
10.1.2.2 FRANCE ................................................................................................................................................. 85
10.1.2.3 UK ......................................................................................................................................................... 86
10.1.2.4 SPAIN .................................................................................................................................................... 87
10.1.2.5 ITALY..................................................................................................................................................... 88
10.1.2.6 POLAND ................................................................................................................................................. 89
10.1.2.7 NETHERLANDS....................................................................................................................................... 90
10.1.2.8 BELGIUM................................................................................................................................................ 91
10.1.2.9 AUSTRIA ................................................................................................................................................ 92
10.1.2.10 REST OF EUROPE ................................................................................................................................... 93
10.1.3 ASIA PACIFIC ................................................................................................................................................. 94
10.1.3.1 CHINA ................................................................................................................................................... 95
10.1.3.2 INDIA ..................................................................................................................................................... 96
10.1.3.3 JAPAN ................................................................................................................................................... 97
10.1.3.4 THAILAND ............................................................................................................................................. 98
10.1.3.5 SOUTH KOREA ....................................................................................................................................... 99
10.1.3.6 REST OF ASIA PACIFIC ........................................................................................................................... 100
10.1.4 SOUTH AMERICA ............................................................................................................................................ 101
10.1.4.1 BRAZIL .................................................................................................................................................. 102
10.1.4.2 ARGENTINA ........................................................................................................................................... 103
10.1.4.3 CHILE .................................................................................................................................................... 104
10.1.4.4 REST OF SOUTH AMERICA ...................................................................................................................... 105
10.1.5 MIDDLE EAST & AFRICA .................................................................................................................................. 106
10.1.5.1 SAUDI ARABIA ........................................................................................................................................ 107
10.1.5.2 QATAR ................................................................................................................................................... 108
10.1.5.3 OMAN .................................................................................................................................................... 109
10.1.5.4 UAE ....................................................................................................................................................... 110
10.1.5.5 SOUTH AFRICA ....................................................................................................................................... 111
10.1.5.6 REST OF MIDDLE EAST & AFRICA ............................................................................................................ 112
11 COMPETITIVE LANDSCAPE ........................................................................................................ 113
11.1 INTRODUCTION ........................................................................................................................................................... 113
11.2 COMPETITION DASHBOARD ................................................................................................................................... 113
11.3 COMPANY MARKET SHARE ANALYSIS, 2023 (%) .......................................................................................... 114
11.4 COMPETITIVE BENCHMARKING .......................................................................................................................... 115
11.5 LIST OF KEY PLAYERS, BY REGION ..................................................................................................................... 116
11.6 KEY DEVELOPMENTS & GROWTH STRATEGIES ............................................................................................ 117
11.6.1 NEW PRODUCT LAUNCH/SERVICE DEPLOYMENT ............................................................................................ 117
11.6.2 PARTNERSHIP/AGREEMENT ........................................................................................................................... 117
11.6.3 CAPACITY EXPANSION ................................................................................................................................... 120
12 COMPANY PROFILES .................................................................................................................. 121
12.1 NEXTRACKER INC. ................. 121
12.1.1 COMPANY OVERVIEW............................................................... 121
12.1.2 FINANCIAL OVERVIEW............................................... 122
12.1.3 PRODUCTS OFFERED................................................ 122
12.1.4 KEY DEVELOPMENTS ... 123
12.1.5 SWOT ANALYSIS ........... 123
12.1.6 KEY STRATEGY ................ 124
12.2 ARRAY TECHNOLOGIES ......... 125
12.2.1 COMPANY OVERVIEW.......................................................... 125
12.2.2 FINANCIAL OVERVIEW....................................................... 126
12.2.3 PRODUCTS OFFERED.................................................... 126
12.2.4 KEY DEVELOPMENTS.................................................. 127
12.2.5 SWOT ANALYSIS ......... 127
12.2.6 KEY STRATEGY ............. 128
12.3 PVHARDWARE ........................... 129
12.3.1 COMPANY OVERVIEW...................................................... 129
12.3.2 FINANCIAL OVERVIEW...................................................... 129
12.3.3 PRODUCTS OFFERED......................................................... 129
12.3.4 KEY DEVELOPMENTS............................................................. 129
12.3.5 SWOT ANALYSIS ............. 131
12.3.6 KEY STRATEGY ............ 131
12.4 MECASOLAR .............................. 132
12.4.1 COMPANY OVERVIEW..................................................... 132
12.4.2 FINANCIAL OVERVIEW................................................... 132
12.4.3 PRODUCTS OFFERED........................................................ 132
12.4.4 KEY DEVELOPMENTS........................................................ 132
12.4.5 SWOT ANALYSIS ............. 133
12.4.6 KEY STRATEGY ............ 133
12.5 IDEEMATEC ............................... 134
12.5.1 COMPANY OVERVIEW........................................................... 134
12.5.2 FINANCIAL OVERVIEW................................................... 134
12.5.3 PRODUCTS OFFERED................................................ 134
12.5.4 KEY DEVELOPMENTS.................................................... 135
12.5.5 SWOT ANALYSIS ........... 136
12.5.6 KEY STRATEGY ........... 136
12.6 SOLTEC ........................... 137
12.6.1 COMPANY OVERVIEW......................................................... 137
12.6.2 FINANCIAL OVERVIEW................................................... 138
12.6.3 PRODUCTS OFFERED........................................................... 138
12.6.4 KEY DEVELOPMENTS.................................................................. 139
12.6.5 SWOT ANALYSIS ......... 140
12.6.6 KEY STRATEGY ............. 140
12.7 ARCTECH ................................... 141
12.7.1 COMPANY OVERVIEW...................................................... 141
12.7.2 FINANCIAL OVERVIEW....................................................... 141
12.7.3 PRODUCTS OFFERED.............................................................. 141
12.7.4 KEY DEVELOPMENTS...................................................................... 142
12.7.5 SWOT ANALYSIS.............................................................. 143
12.7.6 KEY STRATEGY ............ 143
12.8 GAMECHANGE SOLAR ........... 144
12.8.1 COMPANY OVERVIEW.......................................................... 144
12.8.2 FINANCIAL OVERVIEW.................................................... 144
12.8.3 PRODUCTS OFFERED................................................................ 145
12.8.4 KEY DEVELOPMENTS...................................................... 145
12.8.5 SWOT ANALYSIS .......... 146
12.8.6 KEY STRATEGY ............ 146
12.9 TRINA SOLAR ............................ 147
12.9.1 COMPANY OVERVIEW................................................... 147
12.9.2 FINANCIAL OVERVIEW................................................. 148
12.9.3 PRODUCTS OFFERED..................................................... 148
12.9.4 KEY DEVELOPMENTS...................................................... 148
12.9.5 SWOT ANALYSIS........................................................... 149
12.9.6 KEY STRATEGY ........... 149
12.10 ALLEARTH RENEWABLES......................................... 150
12.10.1 COMPANY OVERVIEW.......................................................... 150
12.10.2 FINANCIAL OVERVIEW........................................................... 151
12.10.3 PRODUCTS OFFERED.................................................................. 151
12.10.4 KEY DEVELOPMENTS............................................................... 151
12.10.5 SWOT ANALYSIS ......... 152
12.10.6 KEY STRATEGY ............ 152
12.11 XIAMEN GRACE SOLAR TECHNOLOGY............................ 153
12.11.1 COMPANY OVERVIEW............................................................ 153
12.11.2 FINANCIAL OVERVIEW......................................................... 153
12.11.3 PRODUCTS OFFERED........................................................... 153
12.11.4 KEY DEVELOPMENTS............................................................ 153
12.11.5 SWOT ANALYSIS ......... 154
12.11.6 KEY STRATEGY ............. 154
12.12 LINGYANG TECHNOLOGIES INC......................................................... 155
12.12.1 COMPANY OVERVIEW............................................................................ 155
12.12.2 FINANCIAL OVERVIEW........................................................... 156
12.12.3 PRODUCTS OFFERED................................................................. 156
12.12.4 KEY DEVELOPMENTS............................................................ 156
12.12.5 SWOT ANALYSIS .......... 156
12.12.6 KEY STRATEGY ............ 157
13 DATA CITATIONS........................................................... 159
