The Global Solar Tracker Installation Market Size valued for USD 205.2 Billion in 2021 and is anticipated to reach USD 555.1 Billion by 2030 with a CAGR of 11.8% from 2022 to 2030.

In order to maximize the quantity of sunlight solar panels receive throughout the day, a solar tracker installation is a device made to follow the course of the sun. In order to keep solar panels always perpendicular to the incoming sunlight, the system normally comprises of a number of sensors, motors, and control mechanisms that modify the angle and orientation of the panels in real-time.

Solar trackers' key benefit is that they boost solar energy systems' effectiveness. The solar panels' ability to capture more energy throughout the day by monitoring the sun can lead to a large boost in power output. In fact, compared to fixed-mount solar panel installations, some estimates claim that solar trackers can boost energy production by as much as 40%.

Single-axis and dual-axis solar trackers are the two basic varieties. Solar panels are normally moved in a north-south direction by single-axis trackers, although dual-axis trackers can move the panels in both north-south and east-west orientations. In general, dual-axis trackers are more effective, but they are also more expensive and difficult to install.

There are various procedures involved in installing a solar tracker system. The location must first be carefully selected to guarantee that it receives enough sunlight throughout the day. The solar panels and tracker system can be set up once a suitable location has been found. The foundation must be built, the solar panels must be mounted, and the tracking system must be attached to the panels.

Once built, the solar tracker system will need ongoing maintenance and supervision to guarantee optimal operation. Maintenance entails routine solar panel cleaning in addition to inspecting and modifying the tracker system as necessary to make sure it is precisely tracking the course of the sun.

Solar Tracker Installation Market Dynamics

There has been an increase in demand for renewable energy sources as the globe seeks for ways to lessen its reliance on fossil fuels and tackle climate change. Solar energy is one of the fastest-growing kinds of renewable energy, and solar trackers are an excellent technique to boost the efficiency of solar energy systems. The development of novel technologies and materials has made solar trackers more efficient and cost-effective. Due to this, solar trackers are now more readily available to both home and commercial consumers. Incentives and rules have been implemented by numerous governments all over the world to promote the use of renewable energy sources. For consumers that install solar energy systems, including solar trackers, this includes tax credits, rebates, and other incentives.

A larger spectrum of clients can now afford solar energy systems because of continued price reductions in solar panels and solar tracker technologies. As a result, the market for solar tracker installations has grown in size and demand for solar trackers has increased.

As more people become conscious of the advantages of renewable energy sources and the need of battling climate change, there has been a significant increase in the number of customers interested in solar energy systems, particularly solar trackers. As a result, the market has grown in size and demand for solar tracker installations has increased.

Although the price of solar tracker technology has dropped recently, installing a solar tracker system might still be expensive up front. Some clients, especially residential customers, may find this to be a barrier to admission. In order to keep solar tracker systems operating correctly, they need to be regularly maintained and cared for. Customers may incur recurring costs due to this, especially if they lack the knowledge to maintain the system themselves. Installing solar tracker systems requires a sizable quantity of land and space. Customers who live in densely populated urban regions or who do not have enough space on their home may find this difficult. High sun irradiation locations are where solar tracker systems work best. This may reduce their efficiency in some geographical areas, especially those with little sunlight or a lot of cloud cover.

Solar Tracker Installation Market Insight

The solar tracker installation market is divided into type, end-use, and geographic markets. Based on type, the segment is categorized vertical, horizontal, single axis, and dual axis. End-use is categorized into residential, commercial, and industrial. North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa comprise the region sector.

Global Solar Tracker Installation Market Geographical Competition

One of the biggest markets in the world for solar tracker installations is in North America, thanks to governmental subsidies, falling prices, and rising interest in renewable energy sources. The greatest market in the area is the United States, where a sizable percentage of solar tracker installations are in the utility-scale sector.

Due to the region's strong goals for renewable energy and government backing for the sector, Europe is a sizable market for solar tracker installations. With rising demand for solar trackers in the residential and commercial sectors, Spain, Italy, and Germany are among the region's top markets.

The Asia-Pacific region has the fastest-growing market for solar tracker installations, owing to rising demand for renewable energy, falling costs, and government incentives. China, India, and Japan are among the region's leading markets, with a significant portion of installations in the utility-scale segment.

Global Solar Tracker Installation Industry Segment Analysis

Market By Type

·         Horizontal

·         Vertical

·         Dual axis

·         Single axis

Market By End-Use

·         Residential

·         Commercial

·         Industrial

Solar Tracker Installation Market Leading Companies

The players profiled in the report are Abengoa SE, Arctech Solar, BrightSource Energy, Inc., First Solar, Inc., PVHardware, Siemens AG, Tata Power Solar Systems Limited, and Trina Solar Co. Ltd.

Solar Tracker Installation Market Regions