The dual axis solar tracker market allows mounting of solar panels on a framework that tracks the sun's movement across the sky throughout the day. This enables the panels to generate more electricity by receiving sunlight for a prolonged period compared to fixed-tilt or single-axis trackers. Dual axis trackers provide around 25-30% more energy yield compared to static systems. They are most commonly used in large-scale ground-mounted commercial and utility-scale solar power stations.
The global Dual Axis Solar Tracker Market Size is estimated to be valued at US$ 6.46 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the dual axis solar tracker market are Array Technologies, NEXTracker, PV Hardware, Arctech Solar, Convert Italia, SOLTEC, STI Norland, NClave, SunPower, and Solar Steel. These players are focusing on capacity expansion and new product launches to strengthen their market position. For instance, in January 2022, Array Technologies unveiled the DuraTrack HZ v3 single-axis solar tracker, which offers advanced design and engineering for improved performance.
The increasing demand for solar energy across the world is driving the need for solar trackers. Favorable government policies and regulations promoting the integration of renewable energy in the grid are also propelling the demand. According to IEA, solar PV capacity additions are expected to increase by over 60% between 2020 and 2024 globally.
Advanced technologies are being adopted to make solar trackers more precise, durable, and economical. Many players are focusing on developing lightweight tracker structures, low-maintenance pivot drives, and advanced control systems for optimized energy production. The introduction of new lightweight materials, corrosion-resistant coatings, and smart diagnostics solutions are further enhancing the reliability and lifetime of tracker systems.
Market Trends
The adoption of bifacial solar panels is growing rapidly as they can generate power from both sides of the panel. Dual axis trackers are well-suited for bifacial modules as they allow receiving light from both directions. Manufacturers are developing specialized dual trackers optimized for bifacial modules to maximize energy generation.
Sustainable materials and recyclability are emerging as key focus areas. Players are investing in R&D to develop dual trackers using recycled aluminum and stainless steel to reduce embodied carbon footprints. Some are utilizing modular designs and quick release mechanisms to facilitate cost-effective recycling at the end of service life.
Market Opportunities
The commercial and utility-scale segment is expected to drive the demand over the forecast period. Favorable renewable energy policies and incentives for large projects in many countries are encouraging installations of multi-MW ground-mounted solar parks integrated with trackers.
Agrivoltaic or solar tracking over crops is gaining traction as it enables growing agriculture and energy production simultaneously. Specialized trackers optimized for agrivoltaic systems offer opportunities for increased adoption in the coming years.
Impact of COVID-19 on Dual Axis Solar Tracker Market Growth
The global outbreak of COVID-19 pandemic has significantly impacted the growth of dual axis solar tracker market. During the initial phase of pandemic, manufacturing and supply chain was disrupted worldwide due to nationwide lockdown imposed by various governments. This resulted in delay or halt in solar projects which impacted the demand for solar trackers. However, post-pandemic there has been rise in focus towards renewable energy sources including solar to achieve energy independence. Various governments announced attractive financial incentives to boost manufacturing of clean energy products including dual axis solar trackers.
The dual axis solar tracker market is expected to witness robust growth post-pandemic. Rapid industrialization and strong commitment towards climate change goals will drive the demand. Ongoing research and development activities are focused on developing more advanced and cost-effective dual axis solar tracking systems to maximize energy generation from solar plants. Adoption of dual axis trackers is increasing in large utility-scale projects as well as commercial and industrial rooftop installations. Rising energy demand and need for sustainable alternatives will support growth in coming years. However, supply chain challenges remain a key concern for manufacturers.
Regions with High Concentration in Dual Axis Solar Tracker Market
North America accounts for the largest share of dual axis solar tracker market in terms of value. Presence of major manufacturers, growing renewable energy installations driven by regulatory policies and incentives have made USA and Canada leaders in dual axis solar tracker installations.
Asia Pacific is poised to be the fastest growing regional market for dual axis solar trackers. Countries like China, India and Japan are increasingly adopting solar energy to meet rising energy needs as well as climate commitments. Falling prices of solar modules and trackers along with government support schemes are propelling solar power production in the region.
What Are The Key Data Covered In This Dual Axis Solar Tracker Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Dual Axis Solar Tracker Market's growth between 2024 and 2031.
:- Accurate calculation of the size of the Dual Axis Solar Tracker Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Dual Axis Solar Tracker Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Dual Axis Solar Tracker Market vendors
FAQ’S
Q.1 What are the main factors influencing the Dual Axis Solar Tracker market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Dual Axis Solar Tracker Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Dual Axis Solar Tracker market’s distributors, traders, and dealers?
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