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Residential Solar Tracker Market Trends

Report ID: GMI9839
Published Date: Jun 2024
Report Format: PDF

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Residential Solar Tracker Market Trends

Increased competition among manufacturers has also contributed to lowering the prices of solar trackers. Growing adoption in regions with high solar insolation along with shift towards renewable energy and the emphasis on maximizing efficiency have driven the adoption of solar trackers. Additionally, focus on sustainability and reducing the carbon footprint of energy systems along with increasing the efficiency of solar panels, trackers contribute to producing more clean energy with the same amount of installed capacity, thereby driving the industry landscape.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size residential solar tracker was reached USD 775.1 million in 2023 and will grow at over 8.2% CAGR between 2024 and 2032, due to growing awareness of environmental issues and the desire for sustainable energy solutions.

The single axis segment in the residential solar tracker market will record USD 1.06 billion by 2032, driven by advancements in tracking technology, their simplicity in design and installation.

Asia Pacific residential solar tracker industry will expand to USD 917 million by 2032, attributed to the region's rapid urbanization, coupled with government initiatives promoting renewable energy adoption.

Array Technologies, Inc., All Earth Renewables, ArcelorMittal, DEGERENERGIE GMBH & CO. KG, FLEXRACK by Qcells, LLC, GameChange Solar, Haosolar Co. Ltd, IDEEMATEC, MECASOLAR, and Nextracker Inc., among others.