Solar Tracker (Single Axis and Dual Axis) Market Size, Share, Trends, Growth 2030

Solar Tracker (Single Axis and Dual Axis) Industry Prospective:

The global solar tracker (single axis and dual axis) market size was worth around USD 7.46 billion in 2022 and is predicted to grow to around USD 19.06 billion by 2030 with a compound annual growth rate (CAGR) of roughly 12.44% between 2023 and 2030.

Request Free Sample

Solar Tracker (Single Axis and Dual Axis) Market: Overview

A solar tracker is a technology or system used for positioning an object at an angle that is relative to the Sun. The most common and highly popular application of a solar tracker is in positioning solar panels, also known as photovoltaic (PV) panels, at a 90-degree angle to the rays emerging from the Sun. They are also used for the positioning of space telescopes for determining the Sun's direction. Solar trackers are used for keeping the panel in a perpendicular direction to the Sun so that more sunlight strikes the surface and limited light is reflected resulting in the absorption of more energy that can be later converted to power. There are two main types of solar trackers available in the market. One of them is called a single axis solar tracker and the other is a dual axis. The former refers to an arrangement in which the surface moves along only one axis while the latter deals with surface movement or adjustment across two axes. Each variant offers specific advantages and disadvantages. For instance, while single axis solutions are more cost-effective, their application is limited as they move toward the Northern direction. The market for solar trackers including single axis and dual axis is expected to grow at a steady pace during the forecast period.

Key Insights:

• As per the analysis shared by our research analyst, the global solar tracker (single axis and dual axis) market is estimated to grow annually at a CAGR of around 12.44% over the forecast period (2023-2030)
• In terms of revenue, the global solar tracker (single axis and dual axis) market size was valued at around USD 7.46 billion in 2022 and is projected to reach USD 19.06 billion, by 2030.
• The solar tracker (single axis and dual axis) market is projected to grow at a significant rate due to the growing focus on solar energy generation
• Based on type segmentation, dual axis was predicted to show maximum market share in the year 2022
• Based on application segmentation, utility was the leading segment in 2022
• On the basis of region, North America was the leading revenue generator in 2022

Request Free Sample

Solar Tracker (Single Axis and Dual Axis) Market: Growth Drivers

Growing focus on solar energy generation to drive market growth

The global solar tracker (single axis and dual axis) market is projected to grow due to the increasing focus and investments in harnessing solar power for several residential, commercial, and industrial applications. The world is currently struggling with the severe impact of excessive consumption of non-renewable energy sources such as natural gas and coal. The growing consumption rate has impacted the global ecosystem in the form of drastic climate changes and rising levels of all forms of pollution including water, air, and soil. In addition to this, the ongoing political tension between countries such as Russia and Ukraine has resulted in disruption of fuel supply chains causing a hike in fuel prices worldwide. These factors along with the urgent need to develop more sustainable and clean energy have caused a higher demand for tools that can harness solar energy and generate energy in large quantities. The trend is not only observed on a national level but also an individual scale. For instance, end-consumers are employing solar panels to generate electricity and reduce dependency on other fuel options such as petrol and diesel. The governments, on the other hand, are encouraging investments in the development of new solar panels for electricity generation along with other applications such as use in public sector transportation facilities.

As per official data, as of 2022, Germany registered more than 2.6 million individual solar panel installations thus meeting around 12% of the country’s net power production demand. Such adoptions are further triggered by the reducing prices of solar panel installations thus making the technology affordable for a large part of the general population. In September 2023, India’s Goldi Solar announced that it had signed a contract with Saudi Arabia-based Desert Technologies as the companies intend to explore green energy production in both nations. In the same month. China’s Jinko Power Technology announced that it will build a new solar power plant in Saudi Arabia. The plant is expected to have a peak power output of 450MW.

Solar Tracker (Single Axis and Dual Axis) Market: Restraints

High cost of solar trackers as compared to alternate solutions may restrict market growth

The global solar tracker (single axis and dual axis) market growth is expected to be limited due to the high cost of solar trackers when compared to other options used for solar panel installation including fixed-tilt systems. The high cost is associated with the complex design of solar trackers requiring the use of sophisticated systems including controllers, sensors, and motors. The overall structural complexity also contributes to the high maintenance cost since the device may fail to deliver if the sensors are not working efficiently. Studies and research observations have concluded that both single axis and dual axis solar trackers consume some amount of energy leading to additions in the total operational expense.

Solar Tracker (Single Axis and Dual Axis) Market: Opportunities

Ongoing research and innovation in solar tracker technology to create high growth opportunities

The global solar tracker (single axis and dual axis) industry is projected to come across several growth opportunities led by the increasing research and development activities undertaken by the market players to innovate solar tracker technology thus providing improved solutions with more greater applications. In September 2021, Array Technologies, a global producer of innovative solar trackers, launched two new single-axis solar tracker solutions called Array STI H250 and Array OmniTrack. These products are the latest additions to the company’s existing line of DuraTrack products. Array has predicted a 98% reduction in site grading work when company products are used. In October 2021, Arctech announced the launch of a new solar tracking system with an aim to reduce the Levelized Cost of Electricity (LCOE). The SkyLine II is the world’s first one-in-portrait (1P) single-axis tracker consisting of a synchronous multi-point drive mechanism and pentagonal torque tube design. The overall structure will allow higher torsional capabilities along with larger bending and the highest stability at all tracking tilts.

Growing demand for solar trackers in emerging economies will hold tremendous expansion possibilities

Emerging economies witnessing high international and domestic investments and a steady increase in regional sales power are expected to act as key markets for the global suppliers in the solar tracker (single axis and dual axis) industry. Countries such as Africa, India, China, and others have an aggressively growing need for constant power supply across industrial and residential settings. Governments of these countries are promoting the use of solar energy resulting in high demand for solar trackers.

Solar Tracker (Single Axis and Dual Axis) Market: Challenges

Technical challenges with single and dual axis solar trackers may act as growth barriers

The global solar tracker (single axis and dual axis) market growth is projected to be impacted by the several technical challenges associated with single and dual axis solar trackers. For instance, the solar axis segment is plagued with limited scope for technological upgrades and low energy output during sunny weather conditions. Simultaneously, dual axis trackers provide low performance during overcast or cloudy weather and have less reliability. Users may be unable to justify the cost of installation and use with performance output leading to restricted adoption.

Solar Tracker (Single Axis and Dual Axis) Market: Segmentation

The global solar tracker (single axis and dual axis) market is segmented based on type, technology, application, and region.

Based on type, the global market segments are dual axis and single axis. In 2022, the highest growth was observed in the dual axis segment. It dominated more than 51% of the total market share. As compared to single axis solutions, these variants provide around 10% more energy absorption rate and hence are suited for multiple applications. However, factors such as the use of complex technology and high land requirements may restrict market expansion.

Based on technology, the solar tracker (single axis and dual axis) industry is divided into concentrator photovoltaic and solar photovoltaic.

Based on application, the global market divisions are non-utility and utility. The latter segment held control over 86% of the total revenue driven by the growing demand for renewable energy along with the increasing cost of electricity especially when generated by non-renewable sources. The increasing investments in highly advanced single axis solar trackers with large-scale applications in the utility sector are likely to drive segmental growth.

Solar Tracker (Single Axis and Dual Axis) Market: Report Scope

Solar Tracker (Single Axis and Dual Axis) Market: Regional Analysis

North America to emerge as the dominant region during the forecast period

The global solar tracker (single axis and dual axis) market is projected to grow with the highest CAGR in North America. The countries of the US and Canada have an extensive regional market for solar trackers as investments in solar energy continue to rise every year. The US has amped up its efforts toward promoting the use of renewable energy and a large number of residential and commercial settings currently use solar energy for power generation and consumption. More than 2.7 million homes in the US were known to use solar panels in 2022. Furthermore, the country has a high number of solar tracker producers and distributors. These companies are constantly upgrading product offerings. In January 2023, GameChange Solar, a US-based specialist in fixed-tilt racking and tracker equipment, launched the 1P-2Row Genius Tracker equipped with preassembled and standard components. Asia-Pacific is projected to become a lucrative market during the projection period. The growing emphasis on clean energy and increasing production of advanced solar trackers in countries such as Japan, India, and China will drive regional growth rates.

Solar Tracker (Single Axis and Dual Axis) Market: Competitive Analysis

The global solar tracker (single axis and dual axis) market is led by players like:

• Soltec
• Array Technologies Inc.
• Mahindra Susten
• NEXTracker
• a Flex Company
• STI Norland
• PVH
• First Solar
• Exosun
• Arctech Solar
• Solaria
• Scorpius Trackers
• FTC Solar
• DEGER
• Convert Italia

The global solar tracker (single axis and dual axis) market is segmented as follows:

By Type

• Dual Axis
• Single Axis

By Technology

• Concentrator Photovoltaic
• Solar Photovoltaic

By Application

• Non-Utility
• Utility

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa