Dual Axis Solar Tracker Global Market Report 2024

The dual axis solar tracker market size has grown rapidly in recent years. It will grow from $5.87 billion in 2023 to $6.63 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The expansion observed during the historic period can be attributed to several key factors, including increased demands for energy efficiency, government incentives and policies supporting renewable energy adoption, declining costs of solar panels, and a growing awareness of the environmental impact associated with traditional energy sources.

The dual axis solar tracker market size is expected to see rapid growth in the next few years. It will grow to $10.2 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The anticipated growth in the forecast period can be attributed to heightened environmental concerns, international agreements addressing global climate change, decreasing costs associated with dual-axis tracking technology, and the continuous improvement of solar panel efficiency. Major trends expected during this period encompass the development of smart and connected tracking systems, the emergence of hybrid solar tracking solutions, increased adoption of AI and machine learning technologies in solar energy management, and the implementation of robotic cleaning solutions for solar panels.

The escalating demand for renewable energy sources is poised to propel the expansion of the dual-axis solar tracker market in the coming years. Renewable energy, derived from naturally replenished resources, presents an environmentally friendly alternative to finite fossil fuels, mitigating environmental degradation and fostering sustainability. Within the realm of renewable energy systems, dual-axis solar trackers play a crucial role in enhancing the efficiency, reliability, and economic viability of solar power installations. By optimizing the orientation of solar panels to maximize sunlight exposure, dual-axis solar trackers contribute significantly to the broader adoption and success of solar energy as a sustainable and reliable power source. For example, data from the Energy Information Administration (EIA) indicates a notable increase in the combined wind and solar share of total generation, rising from 12% in 2021 to 14% in 2022, with renewable generation surpassing coal and nuclear generation for the first time. This underscores the pivotal role of renewable energy in driving the growth of the dual-axis solar tracker market.

Key players within the dual-axis solar tracker market are actively engaged in the development of innovative products to address evolving industry needs and challenges. One such innovation is Skywings, the world's first dual-row solar tracker equipped with a multi-point drive mechanism. Skywings is designed to overcome key challenges in solar energy production, aiming to maximize energy yield, reduce the levelized cost of energy, and enhance the stability of solar tracking systems. Developed by Arctech Solutions Pvt. Ltd., Skywings boasts patented bidirectional slew drives that enable synchronous movement of two tracker rows, ensuring compatibility with undulating terrain. Notably, its enhanced undulation tolerance of adjacent rows up to 15% in east/west and north/south directions contributes to improved performance and reliability. Additionally, Skywings offers real-time shading avoidance capabilities, potentially boosting energy generation by 8%, and can be seamlessly integrated with cleaning robots to further enhance energy yield. This innovation exemplifies the commitment of major market players to advancing dual-axis solar tracker technology and promoting the widespread adoption of solar energy solutions.

In July 2022, Polar Racking, a leading solar PV mounting systems manufacturer headquartered in Canada, completed the acquisition of Axsus Solar for an undisclosed sum. This strategic decision by Polar Racking aims to expand its product range by incorporating Axsus' highly-regarded Sol-X single-axis tracker alongside its existing fixed-tilt and carport solutions. Axsus Solar, also based in Canada, specializes in renewable energy platform manufacturing and is recognized for its expertise in designing solar tracking, fixed tilt, and dual solar tracking systems.

Major companies operating in the dual axis solar tracker market report are PARU Corporation, Trina Solar Co. Ltd., First Solar Inc., NEXTracker Inc., SunPower Corporation, Array Technologies Inc., Soitec S.A., Soltec Power Holdings S.A., Arctech Solar Holding Co. Ltd., DEGERenergie GmbH & Co. KG, ADES International Holding plc, Sun Action Trackers LLC, Reutech Radar Systems Pty Ltd., Energia Ercam S.A., Abengoa Solar India Pvt. Ltd., AllEarth Renewables Inc., Mecasolar SL, Titan Tracker Ltd., Powerway Corporation, Haosolar Co. Ltd, Kirchner Solar Group GmbH, Mechatron LLC, Moser LLC, Shandong Huayue New Energy Co. Ltd., Targray Technology International Inc., SunTactics Inc., Cabanillas Ingenieros S.L., Amberroot Systems Inc., HeliosLite SAS.

Asia-Pacific was the largest region in the dual axis solar tracker market in 2023. The regions covered in the dual axis solar tracker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the dual axis solar tracker market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A dual-axis solar tracker is a component of solar energy systems designed to maximize the efficiency of solar panels by dynamically adjusting their orientation along two axes to track the movement of the sun throughout the day. This technology is utilized in solar energy systems to optimize the performance and energy output of photovoltaic (PV) panels.

The primary types of products available in a dual-axis solar tracker system include single-axis, dual-axis, and azimuth-altitude dual-axis trackers. Single-axis tracking involves adjusting solar panels or collectors to follow the sun's movement along one axis. It encompasses various technologies such as solar photovoltaic, concentrated solar power, and concentrated photovoltaic, and finds applications across utility, commercial, and residential sectors.

The dual-axis solar tracker market research report is one of a series of new reports that provides dual-axis solar tracker market statistics, including dual-axis solar tracker industry global market size, regional shares, competitors with dual-axis solar tracker market share, detailed dual-axis solar tracker market segments, market trends and opportunities, and any further data you may need to thrive in the dual-axis solar tracker industry. This dual-axis solar tracker market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The dual-axis solar tracker market consists of sales of tracker structures, controllers, tracker control systems, sun tracking sensors, power supply systems, and communication systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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