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Report
Commercial & Industrial Solar Tracker Market Size By Product (Single Axis, Dual Axis), Regional Outlook, Competitive Market Share & Global Forecast, 2024 - 2032
Market Report I 2024-05-14 I 100 Pages I Global Market Insights
Global Commercial & Industrial Solar Tracker Market will witness a 6.3% CAGR between 2024 and 2032, driven by rising contracts and projects awarded to industry leaders. Solar trackers, which optimize energy capture by following the sun's path throughout the day, are essential for maximizing solar energy generation in large-scale installations. Leading companies are advancing tracker technology with innovations such as dual-axis tracking for enhanced efficiency and reliability. For instance, in February 2024, Nextracker achieved a milestone by completing over 600 projects within its distributed generation (DG) portfolio. Customers reported substantial energy improvements utilizing Nextracker's NX Horizon solar tracker system. These DG projects spanned various global sectors, including data centers, agriculture, education, retail, and manufacturing.
These systems appeal to commercial and industrial sectors seeking to reduce energy costs and carbon footprints while achieving higher energy yields. As governments and businesses worldwide prioritize renewable energy adoption, the demand for solar trackers will grow. This trend underscores the market's evolution towards more efficient and sustainable energy solutions, positioning solar trackers as pivotal components in the global shift towards cleaner power generation.
The overall Commercial & Industrial Solar Tracker Industry size is classified based on the product and region.
The commercial and industrial solar tracker market is experiencing heightened demand for dual-axis systems. Dual-axis solar trackers enhance energy efficiency by adjusting panels both horizontally and vertically to follow the sun's path throughout the day. This technology significantly increases solar energy capture compared to fixed-tilt systems, making it ideal for maximizing energy yields in varying geographic locations. Industries such as utilities, agriculture, and large-scale commercial enterprises are increasingly adopting dual-axis trackers to optimize their solar investments and achieve higher returns on renewable energy projects. As solar technology advances and costs decline, the demand for dual-axis trackers will surge, driving innovation and market expansion.
In Europe, there is a growing demand for commercial and industrial solar trackers as the region accelerates its transition towards renewable energy. Solar trackers, including both single-axis and dual-axis systems, are becoming increasingly popular due to their ability to maximize solar energy capture and enhance overall system efficiency. Governments and businesses across Europe are investing heavily in solar energy projects to meet sustainability goals and reduce reliance on fossil fuels. This surge in demand is leading to innovation in tracker technology, making solar trackers a key component in Europe's renewable energy landscape as it strives towards a greener and more sustainable future.
Report Content
Chapter 1 Methodology & Scope
1.1 Research Design
1.2 Base estimates & calculations
1.3 Forecast model
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
Chapter 2 Executive Summary
2.1 Industry 360 synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem
3.2 Regulatory landscape
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.5 Porter's analysis
3.5.1 Bargaining power of suppliers
3.5.2 Bargaining power of buyers
3.5.3 Threat of new entrants
3.5.4 Threat of substitutes
3.6 PESTEL analysis
Chapter 4 Competitive landscape, 2023
4.1 Introduction
4.2 Strategic dashboard
4.3 Innovation & technology landscape
Chapter 5 Market Size and Forecast, By Product, 2021 - 2032 (USD Million & MW)
5.1 Key trends
5.2 Single axis
5.3 Dual axis
Chapter 6 Market Size and Forecast, By Region, 2021 - 2032 (USD Million & MW)
6.1 Key trends
6.2 North America
6.2.1 U.S.
6.2.2 Canada
6.2.3 Mexico
6.3 Europe
6.3.1 UK
6.3.2 France
6.3.3 Netherlands
6.3.4 Germany
6.3.5 Sweden
6.3.6 Spain
6.3.7 Austria
6.4 Asia Pacific
6.4.1 China
6.4.2 Australia
6.4.3 India
6.4.4 Japan
6.4.5 South Korea
6.5 Africa
6.5.1 South Africa
6.5.2 Egypt
6.5.3 Algeria
6.5.4 Nigeria
6.5.5 Morocco
6.6 Middle East
6.6.1 Saudi Arabia
6.6.2 UAE
6.6.3 Jordan
6.6.4 Israel
6.7 Latin America
6.7.1 Brazil
6.7.2 Chile
Chapter 7 Company Profiles
7.1 Nextracker Inc.
7.2 Trina Solar
7.3 Powerway Renewable Energy Co., Ltd
7.4 MECASOLAR
7.5 Abengoa
7.6 Array Technologies, Inc.
7.7 Haosolar Co. Ltd
7.8 SOLTEC
7.9 SmartTrak Solar Systems (Pvt) Ltd.
7.10 Scorpius Trackers
7.11 All Earth Renewables
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