Asia Pacific Solar Tracker Market Size - By Product (Single Axis {Horizontal, Vertical}, Dual Axis), By Technology (PV, CSP), By Application (Residential, Commercial & Industrial, Utility), 2024 – 2032

Asia Pacific Solar Tracker Market Size

Asia Pacific Solar Tracker Market was valued at USD 32.2 billion in 2023 and is anticipated to grow at a CAGR of 3.8% between 2024 and 2032. A solar tracker is a device or system used in solar photovoltaic (PV) or concentrated solar power (CSP) systems to align solar panels or mirrors with the sun to optimize the absorption of solar radiation. These trackers automatically adapt the position of solar panels or mirrors throughout the day to maintain a perpendicular orientation to the sun's rays. This adjustment optimizes the amount of sunlight captured, leading to increased energy output.
 

Growing concerns regarding climate change and air pollution along with continuous decline in the cost of solar photovoltaic technology will drive the business landscape. Shifting focus to clean and sustainable energy sources in line with technological development in tracking systems will enhance the business dynamics.

Asia Pacific Solar Tracker Market Trends

Rising commitment toward achieving renewable energy targets and combating climate change in conjunction with reducing reliance on centralized energy systems will boost the industry outlook. For instance, in September 2023, New & Renewable Energy Minister and Union Power in India announced that the country is set to reach its 500 GW renewable energy target by 2030. Furthermore, rising implementation of digital solutions to remotely monitor and manage solar installations to increase efficiency and reduce the operational costs will accelerate the business trends.
 

Asia Pacific Solar Tracker Market Analysis

Based on product, the single axis solar tracker market is estimated to surpass USD 22.5 billion by 2032 owing to their ability to offer improved energy yield and maximizing electricity generation along with advances in manufacturing processes, materials, and tracking algorithms. Rising requirement of utility projects for high efficiency tracking systems to maximize energy output and optimize project economics will further stimulate the industry statistics.
 

Based on technology, the PV solar tracker market is set to grow at a rate of more than 3.5% through 2032. Modular and scalable designs allowing for easier installation and maintenance in line with integration of GPS tracking, cloud-based monitoring, and artificial intelligence (AI) algorithms will fuel the industry demand. Growing emphasis of manufacturers on designing robust tracker systems to ensure long-term performance and minimal maintenance requirements will complement the business potential.
 

Australia solar tracker market is projected to reach USD 600 million by 2032. Features including affordability, scalability, and performance improvements along with modular tracker designs enabling customization and flexibility to accommodate site-specific requirements and terrain conditions will foster the industry growth. Moreover, increasing collaboration and partnerships between tracker manufacturers, solar developers, EPC contractors, and technology providers will augment to business scenario.
 

Asia Pacific Solar Tracker Market Share

Antaisolar, ArcelorMittal, Arctech Solar, Array Technologies, Inc, GameChange Solar and Haosolar Co. Ltd holds majority of the industry share. Large scale consolidation as larger manufacturers acquire smaller players to expand their market share and geographic presence depict the industry scenario. Industry partnerships facilitate the development of integrated solutions, streamline project development processes, and enhance market competitiveness. Collaborative efforts between stakeholders drive innovation, improve project economics, and accelerate the deployment of utility-scale solar projects equipped with solar tracking technology.
 

Asia Pacific Solar Tracker Market Companies

Major companies operating across the Asia Pacific solar tracker industry are:

• Antaisolar
• ArcelorMittal
• Arctech Solar
• Array Technologies, Inc.
• GameChange Solar
• Haosolar Co. Ltd
• Nextracker Inc.
• PVHardware
• Scorpius Trackers
• SOLTEC
• SunPower Corporation
• Trina Solar
   

Asia Pacific Solar Tracker Industry News

• In February 2024, Antaisolar entered into a supply agreement with Larsen & Tourbo Limited to deliver a solar tracker project in India. These single axis trackers featuring single lew drive, cost efficiency and stability along with 18.5% to 24% of increase in power generation will be installed. The supply order will boost the company’s position in the industry.
   
• In November 2023, GameChange Solar signed a memorandum of understanding with Bison Energy to jointly bring five solar projects with over 125MW in Australia. The partnership comprises of supply of Genuis Tracker by GameChange Solar to develop projects of Bison Energy in Victoria and New South Wales. Therefore, the collaborative effort will support enhance the company’s presence and expand its customer base across the region.
   

This Asia Pacific solar tracker market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in ‘MW & USD Million’ from 2019 to 2032, for the following segments:

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Market, By Product

• Single Axis
  • Horizontal
  • Vertical
• Dual Axis

Market, By Technology

• PV
• CSP

Market, By Application

• Residential
• Commercial & Industrial
• Utility

The above information has been provided for the following countries:

• China
• Australia
• India
• Japan
• South Korea