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Utility Single Axis Solar Tracker Market Trends

Report ID: GMI11755
Published Date: Oct 2024
Report Format: PDF

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Utility Single Axis Solar Tracker Market Trends

The adoption of single-axis solar trackers in utility-scale solar applications is growing rapidly, driven by the technology's ability to increase energy production, reduce costs, and improve the overall efficiency of solar power plants leading to enhanced product growth. Single-axis trackers can increase energy output by 15% to 30% compared to fixed-tilt systems, making them highly attractive for utility-scale projects. Furthermore, single-axis trackers have become the standard in large-scale utility solar projects due to their ability to maximize land use and optimize energy production, driving the business scenario.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The global market for utility single axis solar tracker was crossed USD 16.8 million in 2023 and is projected to record over 21.4% CAGR from 2024 to 2032, owing to the increasing adoption of solar energy.

The horizontal segment is projected to reach USD 69.5 billion by 2032, driven by rising demand for solar energy, technological advancements, and a focus on optimizing solar power generation.

The Asia Pacific utility single axis solar tracker industry is expected to surpass USD 8.5 billion by 2032, propelled by the increasing demand for renewable energy, supportive government policies, and advancements in solar technologies.

Eminent companies in the solar tracking and technology industry include ANTAI TECHNOLOGIES CO. LTD., Arctech, Array Technologies, Inc., FTC Solar, GameChange Solar, MECASOLAR, NCLAVE, Nextracker Inc., PVHardware, Scorpius Trackers, SOLTEC, STI Norland, and Trina Solar. T