What Has Been the Growth of the Dual Axis Solar Tracker Market So Far?
The dual axis solar tracker market has seen considerable growth due to a variety of factors.
• In the past several years, the dual axis solar tracker market has seen significant growth. The expansion is projected to continue, escalating from a worth of $6.63 billion in 2024 to $7.49 billion in 2025, reflecting a compound annual growth rate (CAGR) of 13.0%.
Various factors have contributed to this growth during the historic period, including the rising demand for energy efficiency, beneficial government incentives and policies, decreasing costs of solar panels, and increasing consciousness about the environmental consequences of conventional energy resources.
How Will the Dual Axis Solar Tracker Market?
The dual axis solar tracker market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the dual axis solar tracker market is projected to experience significant expansion, with projections reaching $11.24 billion in 2029 at a compound annual growth rate (CAGR) of 10.7%.
The proliferation during the forecast period can be linked to climate change worries, international climate pacts, decreasing expenses associated with dual-axis tracking technology, and the growth in photovoltaic panel efficiency. Notable developments anticipated during the forecast period encompass smart and interconnected trackers, hybrid solar tracking systems, the implementation of AI and machine learning, and the introduction of robotic cleaning technologies.
Which Factors Are Boosting Growth In The Dual Axis Solar Tracker Market?
As the desire for renewable energy sources continues to rise, it is anticipated to stimulate the growth of the dual-axis solar tracker market. Renewable energy, which comes from naturally available resources on timescales that humans can utilize and is environmentally friendly, presents a stark contrast to finite and environmentally degrading fossil fuels. It can continuously be renewed and offers a more sustainable and cleaner alternative. A dual-axis solar tracker is employed within renewable energy systems to boost the performance, reliability, and economic feasibility of solar power installations, supporting the wider uptake and effectiveness of solar energy as a dependable, sustainable power source. For instance, data from the US-based federal agency, the Energy Information Administration (EIA), demonstrated in March 2023 that the combined generation of wind and solar energy surged from 12% in 2021 to 14% in 2022. This increase marked the first time that renewable generation outstripped coal and nuclear generation. In light of this, the increasing demand for renewable energy is anticipated to further stimulate expansion in the dual-axis solar tracker market.
What Key Areas Define The Segmentation Of The Global Dual Axis Solar Tracker Market?
The dual axis solar tracker market covered in this report is segmented –
1) By Product Type: Single Axis, Dual Axis, Azimuth-Altitude Dual Axis
2) By Technology: Solar Photovoltaic, Concentrated Solar Power, Concentrated Photovoltaic
3) By Application: Utility, Commercial, Residential
Subsegments:
1) By Single Axis: Horizontal Single Axis Trackers, Vertical Single Axis Trackers
2) By Dual Axis: Active Dual Axis Trackers, Passive Dual Axis Trackers
3) By Azimuth-Altitude Dual Axis: Azimuth-Altitude Trackers With Active Control, Azimuth-Altitude Trackers With Passive Control
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What Emerging Trends Are Influencing The Growth Of The Dual Axis Solar Tracker Market?
Leading firms in the dual-axis solar tracker market are prioritizing the creation of innovative products like Skywings, the world's first dual-row solar tracker with a multi-point propulsion system. This addresses various significant challenges in solar power production, enhances energy output, lowers the levelized cost of energy, and improves the dependability of solar tracking systems. A dual-row solar tracker is a specific kind of solar tracking device that adjusts solar panels to the optimal position for maximum sunlight absorption. For instance, in September 2022, Arctech Solutions Pvt. Ltd, a technology solutions firm based in India, introduced its latest dual-row solar tracker, Skywings. This device is equipped with a multi-point drive mechanism, marking it as the first dual-row solar tracker that is suitable for wavy landscapes. Thanks to its patented bidirectional slew drives, two tracker rows can work in tandem, and the undulation endurance of consecutive rows has been enhanced to 15% in both east/west and north/south directions. Furthermore, it provides real-time shadow avoidance, which can potentially elevate energy output by 8%, and can be combined with a cleaning robot to further augment energy production.
Who Are the Key Players In The Dual Axis Solar Tracker Market?
Major companies operating in the dual axis solar tracker market 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
What Is The Most Dominant Region In The Dual Axis Solar Tracker Market?
Asia-Pacific was the largest region in the dual axis solar tracker market in 2024. 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.
