The global market for Dual Axis Solar Trackers is estimated at US$6.8 Billion in 2023 and is projected to reach US$17.9 Billion by 2030, growing at a CAGR of 14.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the dual axis solar tracker market is driven by several factors. Firstly, the increasing demand for renewable energy sources and the global push towards reducing carbon emissions have spurred investments in solar power, creating a robust market for advanced tracking systems. Secondly, the continuous decline in the cost of solar PV panels and the improvement in tracker technology have made dual axis trackers more economically viable, encouraging their adoption in both utility-scale and distributed solar installations. Thirdly, government incentives and supportive policies for renewable energy projects are playing a crucial role in promoting the use of dual axis trackers. Additionally, the growing awareness of the long-term financial benefits of increased energy yield and higher return on investment is driving demand. Furthermore, the rising focus on energy efficiency and the need to optimize land use in solar installations, particularly in regions with limited space, are also contributing to the market expansion. Together, these factors are creating a favorable environment for the growth and development of the dual axis solar tracker market, presenting significant opportunities for innovation and adoption.
The growth in the dual axis solar tracker market is driven by several factors. Firstly, the increasing demand for renewable energy sources and the global push towards reducing carbon emissions have spurred investments in solar power, creating a robust market for advanced tracking systems. Secondly, the continuous decline in the cost of solar PV panels and the improvement in tracker technology have made dual axis trackers more economically viable, encouraging their adoption in both utility-scale and distributed solar installations. Thirdly, government incentives and supportive policies for renewable energy projects are playing a crucial role in promoting the use of dual axis trackers. Additionally, the growing awareness of the long-term financial benefits of increased energy yield and higher return on investment is driving demand. Furthermore, the rising focus on energy efficiency and the need to optimize land use in solar installations, particularly in regions with limited space, are also contributing to the market expansion. Together, these factors are creating a favorable environment for the growth and development of the dual axis solar tracker market, presenting significant opportunities for innovation and adoption.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Utility Application segment, which is expected to reach US$14.8 Billion by 2030 with a CAGR of a 15.0%. The Non-Utility Application segment is also set to grow at 13.7% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $1.3 Billion in 2023, and China, forecasted to grow at an impressive 18.4% CAGR to reach $3.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Dual Axis Solar Trackers Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Dual Axis Solar Trackers Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Dual Axis Solar Trackers Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Soitec, First Solar, Inc., Trina Solar Co. Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 78 Featured):
- Soitec
- First Solar, Inc.
- Trina Solar Co. Ltd.
- Reutech Radar Systems
- Targray Technology International Inc.
- AllEarth Renewables
- DEGERenergie GmbH & Co. KG
- Energia Ercam S.A.
- Haosolar Co. Ltd
- Mecasolar (Mecanizados Solares S.L.)
- NEXTracker, Inc.
- SunTactics
- Kirchner Solar Group GmbH
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned
- Soitec
- First Solar, Inc.
- Trina Solar Co. Ltd.
- Reutech Radar Systems
- Targray Technology International Inc.
- AllEarth Renewables
- DEGERenergie GmbH & Co. KG
- Energia Ercam S.A.
- Haosolar Co. Ltd
- Mecasolar (Mecanizados Solares S.L.)
- NEXTracker, Inc.
- SunTactics
- Kirchner Solar Group GmbH
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 209 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 6.8 Billion |
| Forecasted Market Value ( USD | $ 17.9 Billion |
| Compound Annual Growth Rate | 14.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
