Europe Single Axis Solar Tracker Market Analysis

Europe Single Axis Solar Tracker Market Analysis

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Based on Product, the horizontal segment is likely to reach USD 54.1 billion by 2032 on account of increased energy production, enhanced system efficiency and technological simplicity & reliability. The horizontal trackers follow the sun’s east-to-west movement, keeping the solar panels optimally oriented to capture maximum sunlight throughout the day. Additionally, maintaining optimal panel angles allows the systems to extend the period during which the system operates at peak efficiency, thereby increasing the overall energy yield. Moreover, modern trackers integrate with smart tracking algorithms and IoT sensors allowing real-time adjustments and performance monitoring, thereby optimizing the energy capture.
 

Based on application, the Europe single axis solar tracker market is segmented into Residential, Commercial & Industrial, and Utility. Among these the utility sector is likely to register more than 5.5% CAGR through 2032. These systems are predominantly used in large scale solar farms, owing to ability to increase output by 15-30% and maximized energy production thereby making them attractive for utility scale deployments. The declining cost of solar technology, including panels, inverters, and tracking systems, further makes the utility solar projects more financially attractive, thereby augmenting the market growth.
 

Germany single axis solar tracker market is projected to surpass USD 2.5 billion by 2032. Germany’s ambitious Energiewende policy to transition the country to a low-carbon, renewable energy-based economy along with mechanisms comprising feed-in tariffs and auctions for renewable energy, will continue to drive the market growth. Technological advancements in solar PV modules and tracking systems have made single axis trackers more efficient and reliable will influence the product penetration.
 

In the U.S. presence of regions with high solar irradiance, utility-scale projects in states comprising California, Texas, and Arizona will augment the market landscape. Favorable policies and government mandates maximized energy production, and growing demand for sustainable energy is set to influence the market landscape.