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Solar Tracker Market Share

Report ID: GMI364
Published Date: Jul 2024
Report Format: PDF

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Solar Tracker Market Share

Companies are diversifying their product portfolios to cater to different market segments and geographical regions. Focus on reducing production and installation costs to remain competitive in a price-sensitive market. Integration with IoT and AI for improved monitoring, control, and optimization of solar panels along with major companies forming partnerships with solar panel manufacturers to provide integrated solutions is sett o enhance the industry statistics. Strategic joint ventures to enter new markets and leverage local expertise and collaborations with research institutions and technology companies to drive innovation and improve product offerings.

Solar Tracker Market Companies

Eminent players operating in the solar tracker industry are:

ArcelorMittal
Array Technologies, Inc.
Arctech
All Earth Renewables
Convert Italia
DEGERENERGIE GMBH & CO. KG
GameChange Solar
Gonvarri Solar Steel
Haosolar Co. Ltd
IDEEMATEC
MECASOLAR
NCLAVE
Nextracker Inc.
Powerway Renewable Energy Co., Ltd
PVHardware
Scorpius Trackers
SmartTrak Solar Systems (Pvt) Ltd.
SOLTEC
STI Norland
SunPower Corporation
Trina Solar

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of solar tracker was worth USD 50.5 billion in 2023 and will demonstrate an 8.5% CAGR between 2024 and 2032, due to the need for maximizing solar energy generation efficiency, reducing electricity costs, and meeting renewable energy targets globally.

Solar tracker industry from the residential segment will record over 11.5% CAGR through 2032, driven by increasing adoption of solar energy systems among homeowners, coupled with supportive government policies promoting renewable energy.

Europe solar tracker industry will record USD 16.6 billion by 2032, owing to stringent renewable energy targets and supportive government policies promoting solar power generation.

Key players operating in the solar tracker industry are ArcelorMittal, Array Technologies, Inc., All Earth Renewables, Convert Italia, DEGERENERGIE GMBH & CO. KG, IDEEMATEC, MECASOLAR, NCLAVE, Scorpius Trackers, SOLTEC, STI Norland, SunPower Corporation, and Trina Solar, among others.