Global Single Axis Solar Tracker Market Size, Trends, and Growth Opportunity, By Type (Manual, Passive, and Active), By Application (Residential, and Commercial Solar Projects) By Region and Forecast till 2030.

Report ID : AMR1004296 | Industries : Others | Published On :December 2023 | Page Count : 225

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Global Single Axis Solar Tracker Market Size, Trends, and Growth Opportunity, By Type (Manual, Passive, and Active), By Application (Residential, and Commercial Solar Projects) By Region and Forecast till 2030.


Global Single Axis Solar Tracker Market


Global Single Axis Solar Tracker Market was valued at USD 4.41 Billion in 2022 and is slated to reach USD 29.31 Billion by 2030 at a CAGR of 26.87% from 2023-2030.
The single-axis solar trackers are well-liked by consumers worldwide. Due to their lower cost and easier manufacturing processes than dual-axis trackers, single-axis trackers are becoming more and more widespread. Energy companies and governments must boost power capacity for both present and upcoming projects, which is a concern. A 20%–30% capacity increase can be attained by installing single-axis solar trackers. In turn, this is anticipated to provide a sizable number of chances for businesses producing solar tracking systems shortly.


Market Drivers


Demand for renewable energy sources is expanding, and solar energy in particular is one of the main factors driving the single-axis solar tracker market. Solar energy is now widely used as a competitive alternative to fossil fuels to minimize greenhouse gas emissions and battle climate change.
Cost-savings potential: Due to their higher energy output and reduced installation and maintenance expenses, single-axis solar trackers can reduce costs. Compared to fixed-tilt systems, single-axis trackers can produce more energy since they can follow the sun's path throughout the day.
Technological developments: Single-axis solar trackers are now more effective and reliable because of the creation of sophisticated tracking algorithms and control systems. As a result, utility-scale solar projects are using single-axis trackers more frequently.
Government initiatives and incentives: In many nations, the use of solar energy and single-axis trackers is being sparked by government programs and incentives, such as tax credits and feed-in tariffs. As a result, the regulatory climate for solar projects has improved, and the single-axis tracker sector has seen an increase in investment.
Rising solar energy demand in emerging areas: The single-axis solar tracker market is anticipated to grow as a result of rising solar energy demand in emerging economies, particularly in Asia and Africa. The adoption of solar energy in these areas is being driven by the desire to improve electricity availability and lessen dependency on fossil fuels.


Market Restraints


expensive price: When compared to solar panels with a fixed tilt, the price of single-axis solar trackers is rather expensive. This has been a significant barrier to the widespread use of single-axis solar trackers, especially in poor nations where solar energy is already somewhat expensive.
Maintenance and operating expenses: Compared to fixed-tilt solar panels, single-axis solar trackers need more frequent maintenance and have higher operating expenses. This sums up the price of maintenance workers, spare components, and repairs.
Limited access to suitable land: Compared to fixed-tilt solar panels, single-axis solar trackers require a comparatively big land area. Due to this, single-axis solar tracker deployment has been constrained, especially in densely populated areas where land is scarce.
The cost of single-axis solar trackers is relatively high when compared to solar panels with a fixed tilt. This has posed a serious obstacle to the broad adoption of single-axis solar trackers, particularly in developing countries where solar energy is already rather pricey.
Single-axis solar trackers require more frequent maintenance and have greater running costs when compared to fixed-tilt solar panels. This represents the total cost of maintenance personnel, replacement parts, and repairs.
Limited access to suitable land: Single-axis solar trackers need a lot more acreage than fixed-tilt solar panels. As a result, single-axis solar tracker deployment has been limited, particularly in locations with a high population density and limited land.


Impact of COVID-19


One of COVID-19's most significant effects on the single-axis solar tracker sector has been a decline in the number of new solar projects being installed. This is because of several things, including lockdowns, travel restrictions, supply chain hiccups, and lower electrical demand. The need for single-axis solar trackers, which boost solar panel energy output by tracking the sun's path, has been impacted by this. However, as nations continue to switch to renewable energy sources and invest in solar projects, the industry is anticipated to rebound. The market for single-axis solar trackers is anticipated to gain from technological developments that make these trackers more efficient and affordable.


Market Segmentation


Global Single Axis Solar Tracker Market is segmented By Type, By Application. By Type such as Manual, Passive, and Active. By Applications such as Residential, and Commercial Solar Projects.


Regional Analysis


Global Single Axis Solar Tracker Market is segmented into five regions Americas, Europe, Asia-Pacific, and the Middle East & Africa. The largest market share in the world market belongs to North America, and this trend is anticipated to last through 2030. The Paris Agreement on Climate Change, which encourages the use of renewable energy in the country's energy supply, and the growing emphasis on renewable energy are principally responsible for the growth. The Middle East and Africa are predicted to increase at the fastest rate during the projected period. Due to the region's great solar potential and increased investment in solar projects, particularly in the UAE and Saudi Arabia, the next ten years are likely to see significant expansion in the region. Due to significant domestic and international investment, Saudi Arabia had the biggest share of these in 2021.


Key Players


This report includes a list of numerous Key Players, namely AllEarth Renewables, Sun Action Trackers, SunPower, DEGERenergie GmbH, Abengoa Solar S.A, Powerway Renewable Energy Co. Ltd., Trina Solar Limited., NexTracker Inc, Array Technologies Inc, PV Hardware Solutions S.L.U.


Market Taxonomy


By Type
• Manual
• Passive
• Active
By Application
• Residential
• Commercial Solar Projects
By Region
• North America
o U.S.
o Canada
o Mexico
• Latin America
o Brazil
o Argentina
o Colombia
o Peru
o Chile
o Venezuela
o Rest of Latin America
• Europe
o Germany
o France
o UK
o Russia
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o New Zealand
o Singapore
o Malaysia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest Middle East & Africa

 

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Global Single Axis Solar Tracker Market


1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Single Axis Solar Tracker Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing Economic Downturn
4.2.6 Post Covid-19 World Supply and Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Single Axis Solar Tracker Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Single Axis Solar Tracker Market Share Analysis, By Type
5.3 Global Single Axis Solar Tracker Market Size and Forecast, By Type
5.3.1 Manual
5.3.2 Passive
5.3.3 Active
6 Global Single Axis Solar Tracker Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Single Axis Solar Tracker Market Share Analysis, By Application
6.3 Global Single Axis Solar Tracker Market Size and Forecast, By Application
6.3.1 Residential
6.3.2 Commercial Solar Projects
7 Global Single Axis Solar Tracker Market, By Region
7.1 Global Single Axis Solar Tracker Market Share Analysis, By Region
7.2 Global Single Axis Solar Tracker Market Share Analysis, By Region
7.3 Global Single Axis Solar Tracker Market Size and Forecast, By Region
8 North America Single Axis Solar Tracker Market, Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Single Axis Solar Tracker Market Share Analysis, By Type
8.3 North America Single Axis Solar Tracker Market Size and Forecast, By Application
8.4 North America Single Axis Solar Tracker Market Size and Forecast, By Country
8.4.1 U.S.
8.4.1.1 Market Size and Forecast, By Type
8.4.1.2 Market Size and Forecast, By Application
8.4.2 Canada
8.4.2.1 Market Size and Forecast, By Type
8.4.2.2 Market Size and Forecast, By Application
8.4.3 Mexico
8.4.3.1 Market Size and Forecast, By Type
8.4.3.2 Market Size and Forecast, By Application
9 Europe Single Axis Solar Tracker Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Single Axis Solar Tracker Market Share Analysis, By Type
9.3 Europe Single Axis Solar Tracker Market Size and Forecast, By Application
9.4 Europe Single Axis Solar Tracker Market Size and Forecast, By Country
9.4.1 Germany
9.4.1.1 Market Size and Forecast, By Type
9.4.1.2 Market Size and Forecast, By Application
9.4.2 France
9.4.2.1 Market Size and Forecast, By Type
9.4.2.2 Market Size and Forecast, By Application
9.4.3 UK
9.4.3.1 Market Size and Forecast, By Type
9.4.3.2 Market Size and Forecast, By Application
9.4.4 Russia
9.4.4.1 Market Size and Forecast, By Type
9.4.4.2 Market Size and Forecast, By Application
9.4.5 Italy
9.4.5.1 Market Size and Forecast, By Type
9.4.5.2 Market Size and Forecast, By Application
9.4.6 Spain
9.4.6.1 Market Size and Forecast, By Type
9.4.6.2 Market Size and Forecast, By Application
9.4.7 Rest of Europe
9.4.7.1 Market Size and Forecast, By Type
9.4.7.2 Market Size and Forecast, By Application
10 Asia Pacific Single Axis Solar Tracker Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Single Axis Solar Tracker Market Share Analysis, By Type
10.3 Asia Pacific Single Axis Solar Tracker Market Size and Forecast, By Application
10.4 Asia Pacific Single Axis Solar Tracker Market Size and Forecast, By Country
10.4.1 China
10.4.1.1 Market Size and Forecast, By Type
10.4.1.2 Market Size and Forecast, By Application
10.4.2 Japan
10.4.2.1 Market Size and Forecast, By Type
10.4.2.2 Market Size and Forecast, By Application
10.4.3 India
10.4.3.1 Market Size and Forecast, By Type
10.4.3.2 Market Size and Forecast, By Application
10.4.4 South Korea
10.4.4.1 Market Size and Forecast, By Type
10.4.4.2 Market Size and Forecast, By Application
10.4.5 Australia
10.4.5.1 Market Size and Forecast, By Type
10.4.5.2 Market Size and Forecast, By Application
10.4.6 New Zealand
10.4.6.1 Market Size and Forecast, By Type
10.4.6.2 Market Size and Forecast, By Application
10.4.7 Singapore
10.4.7.1 Market Size and Forecast, By Type
10.4.7.2 Market Size and Forecast, By Application
10.4.8 Malaysia
10.4.8.1 Market Size and Forecast, By Type
10.4.8.2 Market Size and Forecast, By Application
10.4.9 Rest of Asia Pacific
10.4.9.1 Market Size and Forecast, By Type
10.4.9.2 Market Size and Forecast, By Application
11 Latin America Single Axis Solar Tracker Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Single Axis Solar Tracker Market Share Analysis, By Type
11.3 Latin America Single Axis Solar Tracker Market Size and Forecast, By Application
11.4 Latin America Single Axis Solar Tracker Market Size and Forecast, Country
11.4.1 Brazil
11.4.1.1 Market Size and Forecast, By Type
11.4.1.2 Market Size and Forecast, By Application
11.4.2 Argentina
11.4.2.1 Market Size and Forecast, By Type
11.4.2.2 Market Size and Forecast, By Application
11.4.3 Colombia
11.4.3.1 Market Size and Forecast, By Type
11.4.3.2 Market Size and Forecast, By Application
11.4.4 Peru
11.4.4.1 Market Size and Forecast, By Type
11.4.4.2 Market Size and Forecast, By Application
11.4.5 Chile
11.4.5.1 Market Size and Forecast, By Type
11.4.5.2 Market Size and Forecast, By Application
11.4.6 Venezuela
11.4.6.1 Market Size and Forecast, By Type
11.4.6.2 Market Size and Forecast, By Application
11.4.7 Rest of Latin America
11.4.7.1 Market Size and Forecast, By Type
11.4.7.2 Market Size and Forecast, By Application
12 Middle East Single Axis Solar Tracker Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Single Axis Solar Tracker Market Share Analysis, By Type
12.3 Middle East Single Axis Solar Tracker Market Size and Forecast, By Application
12.4 Middle East Single Axis Solar Tracker Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.1.1 Market Size and Forecast, By Type
12.4.1.2 Market Size and Forecast, By Application
12.4.2 UAE
12.4.2.1 Market Size and Forecast, By Type
12.4.2.2 Market Size and Forecast, By Application
12.4.3 Egypt
12.4.3.1 Market Size and Forecast, By Type
12.4.3.2 Market Size and Forecast, By Application
12.4.4 Kuwait
12.4.4.1 Market Size and Forecast, By Type
12.4.4.2 Market Size and Forecast, By Application
12.4.5 South Africa
12.4.5.1 Market Size and Forecast, By Type
12.4.5.2 Market Size and Forecast, By Application
12.4.6 Rest Middle East & Africa
12.4.6.1 Market Size and Forecast, By Type
12.4.6.2 Market Size and Forecast, By Application
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 AllEarth Renewables
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 Sun Action Trackers
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 SunPower
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 DEGERenergie GmbH
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Abengoa Solar S.A
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Powerway Renewable Energy Co. Ltd.
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Trina Solar Limited.
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 NexTracker Inc
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Array Technologies Inc
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 PV Hardware Solutions S.L.U.
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies

 

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