by Dual axis solar trackers, also known as two-axis solar trackers, are automatic tracking systems that rotate solar panels around two axes, enabling them to follow the sun throughout the day and maximize energy generation. Solar trackers are commonly used in large-scale ground-mounted solar installations to increase electricity generation from solar panels by up to 30% compared to fixed-tilt systems. They utilize advanced sensor, microcontroller, and actuator technologies to provide precise solar tracking and automatic real-time adjustments of the panels to maintain an optimal orientation relative to the sun. With climate change concerns driving aggressive renewable energy targets worldwide, dual axis solar trackers are seeing strong demand from governments and developers looking to maximize the output of large-scale solar plants. The ability of dual axis trackers to significantly boost solar panel efficiency makes them an appealing technology for meeting rising electricity needs through harnessing the abundant power of the sun.
The global Dual Axis Solar Tracker Market was valued at US$ 6.46 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by CoherentMI.
Market Dynamics:
Growing demand for improved solar panel efficiency is a major driver for the dual axis solar tracker market. By continuously adjusting the position of solar panels throughout the day to follow the sun’s trajectory, dual axis trackers can increase annual energy generation from each panel by 30% compared to fixed systems. This makes them very attractive for utility-scale projects aiming to maximize returns on solar investments. Additionally, supportive government policies and regulations offering incentives for solar power adoption are also fueling demand for more efficient panel tracking technologies like dual axis trackers. Many countries have introduced favorable net metering policies and tax credits for renewable projects to encourage the transition to clean energy sources. Such supportive initiatives are propelling the large-scale deployment of dual axis solar trackers globally.
Segment Analysis
The global dual axis solar tracker market can be segmented on the basis of product type, application and end use. By product type, the market is dominated by solar photovoltaic (PV) segment as dual axis solar trackers are widely used by all the type of PV modules to increase their energy output. By application, the utility segment dominates the market owing to the large scale consumption of solar energy for various utility needs like power plants. And by end use, the industrial segment is the dominating segment of dual axis solar tracker market as major industrial applications require large-scale solar energy production.
PEST Analysis
Political: Governments across the world are promoting the use of renewable energy sources by providing various subsidies and incentives for adopting solar energy which is positively impacting the dual axis solar tracker market.
Economic: The declining cost of solar photovoltaic modules and dual axis trackers in recent years have made solar energy more affordable and competitive against conventional sources, driving greater demand.
Social: Increasing environmental awareness among public and focus on adopting greener technologies are fueling the adoption of solar energy solutions incorporated with dual axis trackers.
Technological: Advancements in automatic control systems and materials used for dual axis tracker structures have enhanced their efficiency, ease of installation and durability.
Key Takeaways
The global Dual Axis Solar Tracker Market Size is expected to witness high growth over the forecast period of 2023 to 2030 owing to various government initiatives and climate change agreements promoting renewable energy sources globally. The global Dual Axis Solar Tracker Market was valued at US$ 6.46 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the dual axis solar tracker market mainly due to the rapid growth of solar industry in major countries like India, China and Japan. Countries in the region are aggressively adopting solar energy generation due to supportive government policies and declining costs of technology.
Key Players operating in the dual axis solar tracker market are Array Technologies, NEXTracker, PV Hardware, Arctech Solar, Convert Italia, SOLTEC, STI Norland, NClave, SunPower, and Solar Steel. Array Technologies is the undisputed market leader known for its versatile tracker solutions compatible with all types of solar PV installations from small rooftops to large utility-scale projects. NEXTracker is also a prominent player offering innovative solar trackers along with comprehensive software monitoring systems.
Objectives of the Report:
1) Investigate and forecast the value and volume of the Dual Axis Solar Tracker market.
2) Estimate market shares for major Dual Axis Solar Tracker segments.
3) To demonstrate how the market for Dual Axis Solar Tracker is evolving in various parts of the world.
4) Research and analyze micro markets in terms of their contributions to the Dual Axis Solar Tracker market, as well as their prospects and individual growth patterns.
5) To provide precise and useful information on the factors influencing the rise of Dual Axis Solar Tracker.
6) To provide an in-depth analysis of key business strategies used by major companies in the Dual Axis Solar Tracker market, such as R&D, collaborations, agreements, partnerships, acquisitions, mergers, new product launches, and acquisitions, mergers, and acquisitions.
FAQ’s
Q.1 What are the main factors influencing the Dual Axis Solar Tracker market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Dual Axis Solar Tracker Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Dual Axis Solar Tracker market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: CoherentMI, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
