Solar Tracker Market Key Insights, Profiling Companies based on their Financial Positions

Adroit Market Research

Solar Trackers Market

By Product (Single Axis and Dual Axis), By Technology [Photovoltaic (PV), Concentrated Photovoltaic (CPV) and Concentrated solar power (CSP)] By Application (Utility and Non-Utility) and By Region (North America, Europe, South America, Asia Pacific and Middle East & Africa) Single Use License: US$ +1 (214) 884-6068

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Solar Trackers Market Size and Share 2025 • The global solar tracker market is driven by increasing demand for energy coupled with stringent government regulations and initiatives.

• The global solar tracker market capacity is expected to reach 39.33 GW by 2025. The market is growing at a CAGR of 13.8%. Rising awareness about renewable and sustainable sources of energy coupled with growing several government initiatives are projected to drive the growth of the global solar tracker market during the forecast period.

• The global solar tracker market study evaluates market demand and scenario over the period from 2015 to 2025. The study highlights the historical data between 2015 and 2017 while 2018 to 2025 as a market forecast. The report studies the global, regional and country level trends and future prospects. The global solar tracker market is segmented by product, technology and application.

• The global solar tracker market study analyzes various aspects of the market using value chain analysis, PESTEL analysis, and Porter’s five forces analysis. The report also covers various qualitative aspects of the global solar tracker market such the market drivers, restraint and trends that are likely to drive the growth of the global solar tracker market during the forecast period. Furthermore, the report provides an in-depth analysis of the key players in the market by mapping their product offerings and key initiatives that are projected to impact the market.

• The trackers in the solar panels are used to direct the panels towards the sunlight. These trackers are designed to change the panel’s orientation through the day following the sun’s path to capture maximum energy. Thus, solar panels are successfully increasing the power output ratio of the solar panels. Owing to this increased power output, the utility sector has widely adopted the solar tracker which is boosting the growth of the global solar tracker market. Further, favorable such as the National Community Solar Partnership in the United States and International Solar +1 (214)government 884-6068 initiatives sales@adroitmarketresearch.com www.adroitmarketresearch.com Alliance in India are presenting a good growth opportunity for solar energy thus driving the global solar tracker market

Adroit Market Research

Solar Trackers Market Size and Share 2025 • Based on the application type, the global solar tracker market is segmented in utility and non-utility sector. The utility sector is estimated to account 33.94 GW capacity in the global solar tracker market by 2025. The ever increasing demand for energy and shortfall in supply has created a gap, which is increasing the cost per unit. Owing to this utility segment is currently shifting to renewable and sustainable sources of energy such as solar which is boosting the demand for tracker in the global solar tracker market.

• The Asia Pacific is expected to grow with a CAGR of 17.15%. The growth is projected on account of large scale developments in countries such as India. In India, the government is implementing key initiates such as the Jawaharlal Nehru National Solar Mission, Rooftop scheme and Ujjwal Discom Assurance Yojna to boost solar energy. Further, players such as Nextracker Inc., Mahindra Susten Pvt. Ltd., and Arctech are focused on building utility grade solar planets which driving the growth of the solar tracker market. For example, in 2016, NEXTracker Inc. an important player in the solar tracker market declared that the company had built India’s biggest solar tracker power plant by collaborating with Adani Power Ltd. in the Punjab state with a capacity of 105 GW. • The global solar tracker market is consolidated as major players such as the Nextracker Inc., Array Technologies Inc. and, Soltec Energías Renovables, SL have captured the major of the market share. The players in the global solar tracker are adopting to the partnership as one of their strategy to solidify their market position. For instance in 2016, NEXTracker Inc. a key player partnered with APL Apollo Tubes Ltd a player in the steel market of India. The partnership aimed to cut down the shipment time of piers and steel tubes that form the backbone of the solar trackers by sourcing them locally from APL Apollo Tubes Ltd. • Some of the other key players in the global solar tracker market are SunPower Corporation, Convert Italia SpA, Soltec Renewable SL, Game Change Solar and First Solar Inc. +1 (214) 884-6068

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Solar Trackers Market Size and Share 2025 • Segment overview of global solar tracker market • Product Overview, 2015-2025 (GW units) (USD million) • Single axis

• Dual axis • Technology Overview, 2015-2025 (GW units) • Photovoltaic (PV) • Concentrated photovoltaic (CPV) • Concentrated solar power (CSP)

• Application Overview, 2015-2025 (GW units) • Utility • Non-Utility

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Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps. Our analysts have tracked high growth markets in chemicals & materials, healthcare & pharmaceuticals, semiconductor & electronics, energy & power, food & retail, consumer goods, technology, and machinery & equipment sectors across the world to identify new opportunities, potential customers, prepare go-to-market (GTM) strategies, identify segments for revenue growth for companies, and many more.

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