ソーラートラッカー市場 – 2029年までの世界予測

Solar Tracker Market - Global Forecast to 2029

ソーラートラッカー市場 - 軸タイプ(単軸、二軸)、タイプ(系統連系、オフグリッド)、用途(公益事業、非公益事業)、地域(アジア太平洋、北米、ヨーロッパ、ラテンアメリカ、中東、アフリカ) - 2029年までの世界予測
Solar Tracker Market by Axis Type (Single-axis, Dual-axis), Type (Grid-connected, Off-grid), Application (Utility, Non-utility), Region (Asia Pacific, North America, Europe, Latin America, Middle East & Africa) - Global Forecast to 2029

商品番号 : SMB-77827

出版社MarketsandMarkets
出版年月2025年4月
ページ数167
図表数164
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

本レポートは、様々な地域におけるソーラートラッカー市場を軸タイプと用途別に定義、説明、予測しています。また、市場の詳細な定性・定量分析も提供しています。主要な市場推進要因、制約要因、機会、課題を包括的に分析しています。さらに、市場の様々な重要な側面を網羅しており、競争環境の分析、市場ダイナミクス、価値ベースの市場予測、そしてソーラートラッカー市場の将来動向などが含まれています。

Report Overview

The solar tracker market is estimated to reach USD  22.87 billion by 2029 from an estimated value of USD  10.32 billion in 2024, at a CAGR of 17.3% during the forecast period.

ソーラートラッカー市場は、予測期間中に17.3%のCAGRで成長し、2024年の推定値103.2億米ドルから2029年には228.7億米ドルに達すると予測されています

The Solar Tracker Market is driven by advancements in AI-enabled tracking systems, increasing demand for optimized land use, and the integration of bifacial solar modules. Enhanced durability and reduced maintenance costs make trackers more viable. Additionally, growing emphasis on energy resilience and climate targets prompts greater adoption in disaster-prone and remote regions, fueling overall market expansion.

ソーラートラッカー(太陽光トラッカー)市場は、AIを活用した追尾システムの進歩、土地利用最適化への需要の高まり、そして両面発電モジュールの導入によって牽引されています。耐久性の向上とメンテナンスコストの削減により、トラッカーの実用性は向上しています。さらに、エネルギーのレジリエンス(回復力)と気候変動対策への関心の高まりにより、災害が発生しやすい地域や遠隔地での導入が進み、市場全体の拡大を後押ししています。

ソーラートラッカー市場 - 2029年までの世界予測
solar-tracker-market

“Utility segment held larger share of solar tracker market based on application”

The utility segment held a larger share of the solar tracker market in 2023 due to the increasing deployment of large-scale solar power plants to meet growing electricity demand and achieve clean energy targets. Utilities are rapidly adopting solar trackers to maximize energy yield and improve project economics, especially in regions with high solar irradiation. Government incentives, power purchase agreements (PPAs), and favorable grid integration policies are further encouraging investments in utility-scale solar projects. Additionally, the declining cost of solar technology, combined with advancements in tracker design, is making utility-scale projects more efficient and financially viable. Utilities also benefit from economies of scale, which enhance cost-effectiveness and operational efficiency. With the rising need for decarbonization and energy diversification, the utility segment continues to contribute globally to solar tracker installations.

“Single-axis solar trackers to lead market based on axis type”

The single-axis segment continues to hold a strong position in the solar tracker market due to its cost-effectiveness, ease of installation, and proven efficiency in utility-scale solar projects. It allows solar panels to follow the sun’s path from east to west, significantly improving energy output compared to fixed-tilt systems. Single-axis trackers are especially suitable for large ground-mounted installations, where maximizing land use and power generation is crucial. Their relatively low operational and maintenance costs make them attractive for investors seeking high returns. Growing adoption in emerging markets, favorable government policies, and increasing demand for renewable energy further accelerate their deployment. As solar energy becomes a cornerstone of global energy strategies, the single-axis tracker segment is expected to maintain its strong market presence, especially in high-solar-radiation regions.

ソーラートラッカー市場 - 2029年までの世界予測 region
solar-tracker-market-region

“North America to record second-highest CAGR in solar tracker market”

North America is expected to record the second-highest CAGR in the solar tracker market, driven by supportive policies, technological advancements, and increasing demand for renewable energy. The United States and Canada are leading this growth through substantial investments in utility-scale solar projects, backed by federal and state-level incentives, tax credits, and renewable energy mandates. The adoption of single-axis trackers, particularly in Texas and California, has become prevalent due to their cost-effectiveness and ability to enhance energy yield. Furthermore, integrating bifacial solar modules with tracking systems is gaining traction, offering improved efficiency and reduced levelized cost of electricity (LCOE). The region’s focus on grid modernization and the expansion of smart grid infrastructure also contributes to the increased deployment of solar trackers. Additionally, the presence of key industry players and ongoing research and development efforts foster innovation and drive the market. As North America prioritizes clean energy transitions, the solar tracker market is poised for significant growth in the coming years.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:

  • By Company Type: Tier 1 – 40%, Tier 2 – 33%, and Tier 3 – 27%
  • By Designation: C-Level Executives – 50%, Directors – 30%, and Other Designations- 20%
  • By Region: North America – 15%, Europe – 30%, Asia Pacific – 40%, Latin America – 10%, and Middle East & Africa – 5%

Note: Other designations include product engineers, product specialists, and engineering leads.

The tiers of the companies are defined based on their total revenues as of 2023. Tier 1: >USD 1 billion, Tier 2: from USD 500 million to USD 1 billion, and Tier 3: <USD 500 million.

ソーラートラッカー市場 - 2029年までの世界予測 ecosystem
solar-tracker-market-ecosystem

A few major players with a wide regional presence dominate the solar tracker market. The leading players in solar tracker market are Nextracker Inc. (US), Array Technologies Inc. (Mexico), PVHardware (Spain), Soltec (US), Gamechanger Solar (US), ARCTECH (China), FTC Solar (US), Valmont Industries, Inc. (US), All Earth Renewables (UK), Xiamen Grace Solar New Energy Technology Co., Ltd. (China), Sun Action Trackers (US), Trinasolar (China), ADES TEMPERO GROUP (Spain), Aivatechnology (US), and ArcelorMittal (Luxembourg),

Research Coverage:

The report defines, describes, and forecasts the solar tracker market by axis type and application for various regions. It also offers detailed qualitative and quantitative analyses of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the solar tracker market.

Key Benefits of Buying Report

  • The solar tracker market is driven by the global transition to renewable energy, growing demand for high-efficiency solar power systems, and the pressing need to optimize energy output from photovoltaic installations. As utility-scale solar projects expand, solar trackers play a crucial role in enhancing power generation by adjusting panel orientation to follow the sun’s path. Increasing government support, favorable policies, and feed-in tariffs encourage solar adoption across developed and emerging economies. Additionally, integrating smart technologies, declining solar component costs, and the push to reduce the levelized cost of electricity (LCOE) are accelerating tracker deployment. The expansion of grid-connected solar farms, the growing demand for electricity, and the rising emphasis on sustainable infrastructure development further boost the market. With a strong focus on improving solar plant efficiency and maximizing return on investment, solar trackers have become a key component in the clean energy transition, driving market growth.
  • Product Development/Innovation: The solar tracker market is centered on advancing precision, automation, and durability in tracking technologies to enhance solar energy output. Companies are developing smart tracking systems with real-time weather adaptation, machine learning algorithms, and remote monitoring capabilities to optimize panel orientation. Innovations include robust dual-axis trackers for higher yield and terrain-adaptive single-axis systems for challenging landscapes. Integration of IoT and AI enables predictive maintenance, reducing downtime and operational costs. Materials innovations focus on corrosion resistance and lightweight designs to extend system lifespan. These product developments ensure greater energy efficiency and play a vital role in accelerating solar adoption globally.
  • Market Development: In April 2024, Nextracker launched the Industry’s first low-carbon solar tracker solution, the NX Horizon solar tracker system.
  • Market Diversification: Array Technologies Inc. and Alupco AStrategic partnered to meet the growing demand for renewable energy in the Middle East.
  • Competitive Assessment: Assessment of rankings – some key players, including Nextracker Inc. (US), Array Technologies Inc. (Mexico), PVHardware (Spain), Soltec (US), Gamechange Solar (US), ARCTECH (China), FTC Solar (US), Valmont Industries, Inc. (US), All Earth Renewables (UK), Xiamen Grace Solar New Energy Technology Co., Ltd. (China), and Sun Action Trackers (US).

Table of Contents

1               INTRODUCTION              18

1.1           STUDY OBJECTIVES       18

1.2           MARKET DEFINITION   18

1.3           STUDY SCOPE   19

1.3.1        MARKETS COVERED AND REGIONAL SCOPE      19

1.3.2        INCLUSIONS AND EXCLUSIONS 20

1.3.3        YEARS CONSIDERED      20

1.4           CURRENCY CONSIDERED            21

1.5           LIMITATIONS    21

1.6           STAKEHOLDERS               21

2               RESEARCH METHODOLOGY       22

2.1           RESEARCH DATA              22

2.1.1        PRIMARY AND SECONDARY DATA           23

2.1.1.1    Key data from secondary sources       23

2.1.2        PRIMARY DATA 23

2.1.2.1    Key data from primary sources           24

2.1.2.2    List of primary interview participants               24

2.1.2.3    Breakdown of primary interviews      25

2.1.2.4    Key data from primary sources           25

2.2           MARKET SIZE ESTIMATION         26

2.2.1        BOTTOM-UP APPROACH              26

2.2.2        TOP-DOWN APPROACH                26

2.2.3        SUPPLY-SIDE CALCULATIONS   27

2.2.4        SUPPLY-SIDE ASSUMPTIONS      27

2.2.5        DEMAND-SIDE CALCULATIONS                28

2.2.6        DEMAND-SIDE ASSUMPTIONS  28

2.3           FORECAST MARKET SIZE ESTIMATION 28

2.4           DATA TRIANGULATION                29

2.5           FACTOR ANALYSIS          30

2.6           RESEARCH ASSUMPTIONS           30

2.7           GROWTH FORECAST      31

2.8           RESEARCH LIMITATIONS             31

2.9           RISK ANALYSIS  31

3               EXECUTIVE SUMMARY  32

4               PREMIUM INSIGHTS       35

4.1           ATTRACTIVE OPPORTUNITIES FOR PLAYERS INSOLAR TRACKER MARKET          35

4.2           SOLAR TRACKER MARKET, BY REGION  36

4.3           SOLAR TRACKER MARKET, BY TYPE        36

4.4           SOLAR TRACKER MARKET, BY AXIS TYPE              37

4.5           SOLAR TRACKER MARKET, BY APPLICATION      37

5               MARKET OVERVIEW       38

5.1           INTRODUCTION              38

5.2           MARKET DYNAMICS       38

5.2.1        DRIVERS               39

5.2.1.1    Government incentives and strategic partnerships to

achieve clean energy targets                39

5.2.1.2    Efficiency gains and technological evolution in solar tracking                 39

5.2.2        RESTRAINTS      40

5.2.2.1    Higher initial costs               40

5.2.2.2    Complex installation process              40

5.2.3        OPPORTUNITIES              41

5.2.3.1    Increasing focus on enhancing grid stability and dependability                 41

5.2.3.2    Surging use in rooftop and utility-scale projects due to

design flexibility   41

5.2.4        CHALLENGES    42

5.2.4.1    High maintenance requirements        42

5.2.4.2    Significant energy consumption         42

5.2.4.3    Regularity and permitting challenges                42

5.3           PORTER’S FIVE FORCES ANALYSIS           43

5.3.1        THREAT OF NEW ENTRANTS      44

5.3.2        THREAT OF SUBSTITUTES          44

5.3.3        BARGAINING POWER OF SUPPLIERS       44

5.3.4        BARGAINING POWER OF BUYERS             45

5.3.5        INTENSITY OF COMPETITIVE RIVALRY 45

5.4           KEY STAKEHOLDERS AND BUYING CRITERIA     46

5.4.1        KEY STAKEHOLDERS IN BUYING PROCESS           46

5.4.2        BUYING CRITERIA           46

5.5           SUPPLY CHAIN ANALYSIS             47

5.6           TRADE ANALYSIS             48

5.6.1        HS CODE 854143                48

5.6.1.1    Export scenario     48

5.6.1.2    Import scenario     50

5.6.2        HS CODE 854142                51

5.6.2.1    Export scenario     51

5.6.2.2    Import scenario     52

5.7           PATENT ANALYSIS          53

5.7.1        INTRODUCTION              53

5.7.2        METHODOLOGY              53

5.7.3        INSIGHTS            54

5.7.4        JURISDICTION ANALYSIS              54

5.7.5        TOP APPLICANTS            55

5.7.6        PATENTS BY NEXTRACKER INC., 2023     55

5.7.7        PATENTS BY SOLTEC INNOVATIONS SL, 2023     56

5.7.8        PATENTS BY ARRAY TECHNOLOGIES, INC., 2022–2023                 56

5.8           REGULATORY LANDSCAPE         56

5.8.1        REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  57

5.9           KEY CONFERENCES AND EVENTS, 2024–2025        59

5.10         CASE STUDY ANALYSIS 60

5.10.1      SHARP HELPED BIG C SUPERMARKET (THAILAND) WITH

INSTALLATION OF ROOFTOP SOLAR PANELS    60

5.10.2      HEWLETT PACKARD (HP) INSTALLED SOLAR PANELS ON

ITS ROOFTOPS WITH HELP OF SHARP (JAPAN) 60

5.11         TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS            61

6               TECHNOLOGIES USED IN SOLAR TRACKERS       62

6.1           INTRODUCTION              62

6.2           SOLAR PHOTOVOLTAIC               62

6.3           CONCENTRATED PHOTOVOLTAIC         62

7               SOLAR TRACKER MARKET, BY TYPE        63

7.1           INTRODUCTION              64

7.2           GRID-CONNECTED         65

7.2.1        SMALLER INITIAL INVESTMENTS OFFERING FINANCIAL BENEFITS TO

SPIKE DEMAND 65

7.3           OFF-GRID            66

7.3.1        ABILITY TO MEET DEMANDS OF REMOTE INDUSTRIAL, RESIDENTIAL,

AND SPECIALIZED APPLICATIONS TO FUEL SEGMENTAL GROWTH             66

8               SOLAR TRACKER MARKET, BY AXIS TYPE              67

8.1           INTRODUCTION              68

8.2           SINGLE-AXIS      69

8.2.1        COST-EFFECTIVENESS AND EASE OF MAINTENANCE TO

ACCELERATE DEMAND 69

8.3           DUAL-AXIS          70

8.3.1        SUBSTANTIAL DEMAND FOR CLEAN ENERGY TO DRIVE MARKET               70

9               SOLAR TRACKER MARKET, BY APPLICATION      71

9.1           INTRODUCTION              72

9.2           UTILITY                73

9.2.1        NEED TO MAXIMIZE ENERGY GENERATION AND

OPTIMIZE LAND USAGE EFFICIENCY TO BOOST DEMAND                 73

9.3           NON-UTILITY    73

9.3.1        HIGH INSTALLATIONS IN RESIDENTIAL AND

INDUSTRIAL SETUPS TO DRIVE MARKET              73

10            SOLAR TRACKER MARKET, BY REGION  75

10.1         INTRODUCTION              76

10.2         NORTH AMERICA             77

10.2.1      US           79

10.2.1.1  Federal policies boosting solar energy integration to drive market                 79

10.2.2      CANADA               80

10.2.2.1  Commitment toward reducing GHG emissions and transitioning to renewable energy sources to create opportunities      80

10.2.3      MEXICO                80

10.2.3.1  Abundant solar resources and ambitious renewable energy goals to boost demand   80

10.3         EUROPE               80

10.3.1      GERMANY           82

10.3.1.1  Government policies and initiatives to establish solar plants to support market growth        82

10.3.2      ITALY    82

10.3.2.1  Targets for emission reductions and energy efficiency to contribute to market growth               82

10.3.3      SPAIN    83

10.3.3.1  Energy transformation targets to support market growth                 83

10.3.4      REST OF EUROPE             83

10.4         ASIA PACIFIC     84

10.4.1      CHINA  86

10.4.1.1  Extensive deployment of solar energy projects to drive market                 86

10.4.2      INDIA    87

10.4.2.1  Government initiatives and generous subsidies to propel market                 87

10.4.3      JAPAN   87

10.4.3.1  Substantial investment in large-scale solar projects to

create opportunities              87

10.4.4      AUSTRALIA & NEW ZEALAND ESTATE    88

10.4.4.1  Significant demand for solar trackers from commercial &

industrial applications to foster market growth                88

10.4.5      SOUTH KOREA  88

10.4.5.1  Government’s commitment to expand renewable energy infrastructure to boost demand          88

10.4.6      REST OF ASIA PACIFIC   88

10.5         LATIN AMERICA                89

10.5.1      BRAZIL 90

10.5.1.1  Greater emphasis on federal government policies on

promoting solar energy to meet fuel demand  90

10.5.2      REST OF LATIN AMERICA             90

10.6         MIDDLE EAST & AFRICA                91

10.6.1      SAUDI ARABIA  92

10.6.1.1  Clean energy initiatives to contribute to market growth                 92

10.6.2      REST OF MIDDLE EAST & AFRICA             93

11            COMPETITIVE LANDSCAPE         94

11.1         OVERVIEW          94

11.2         KEY PLAYER STRATEGIES/RIGHT TO WIN, 2019–2024                 94

11.3         REVENUE ANALYSIS, 2021–2023  96

11.4         MARKET SHARE ANALYSIS, 2023                 96

11.5         COMPANY FINANCIAL METRICS                99

11.6         BRAND/PRODUCT COMPARISON             100

11.7         COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023                 100

11.7.1      STARS   100

11.7.2      EMERGING LEADERS     100

11.7.3      PERVASIVE PLAYERS      101

11.7.4      PARTICIPANTS 101

11.7.5      COMPANY FOOTPRINT: KEY PLAYERS, 2023         102

11.7.5.1  Company footprint               102

11.7.5.2  Region footprint   104

11.7.5.3  Axis type footprint                105

11.7.5.4  Application footprint            106

11.8         COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023        106

11.8.1      PROGRESSIVE COMPANIES         106

11.8.2      RESPONSIVE COMPANIES            107

11.8.3      DYNAMIC COMPANIES  107

11.8.4      STARTING BLOCKS         107

11.8.5      COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023                 108

11.8.5.1  Detailed list of key startups/SMEs    108

11.8.5.2  Competitive benchmarking of key startups/SMEs          109

11.9         COMPETITIVE SCENARIO             109

11.9.1      PRODUCT LAUNCHES   109

11.9.2      DEALS  110

11.9.3      EXPANSIONS     111

12            COMPANY PROFILES      112

12.1         KEY COMPANIES              112

12.1.1      NEXTRACKER INC.           112

12.1.1.1  Business overview 112

12.1.1.2  Products/Solutions/Services offered 113

12.1.1.3  Recent developments           114

12.1.1.3.1                Product launches  114

12.1.1.3.2                Deals      114

12.1.1.3.3                Expansions             115

12.1.1.4  MnM view              115

12.1.1.4.1                Key strengths/Right to win 115

12.1.1.4.2                Strategic choices   115

12.1.1.4.3                Weaknesses/Competitive threats       116

12.1.2      ARRAY TECHNOLOGIES, INC.     117

12.1.2.1  Business overview 117

12.1.2.2  Products/Solutions/Services offered 119

12.1.2.3  Recent developments           119

12.1.2.3.1                Deals      119

12.1.2.4  MnM view              120

12.1.2.4.1                Key strengths/Right to win 120

12.1.2.4.2                Strategic choices   120

12.1.2.4.3                Weaknesses/Competitive threats       120

12.1.3      PVHARDWARE  121

12.1.3.1  Business overview 121

12.1.3.2  Products/Solutions/Services offered 121

12.1.3.3  Recent developments           122

12.1.3.3.1                Deals      122

12.1.3.4  MnM view              122

12.1.3.4.1                Key strengths/Right to win 122

12.1.3.4.2                Strategic choices   122

12.1.3.4.3                Weaknesses/Competitive threats       122

12.1.4      SOLTEC                123

12.1.4.1  Business overview 123

12.1.4.2  Products/Solutions/Services offered 124

12.1.4.3  Recent developments           125

12.1.4.3.1                Product launches  125

12.1.4.3.2                Deals      125

12.1.4.4  MnM view              126

12.1.4.4.1                Key strengths/Right to win 126

12.1.4.4.2                Strategic choices   126

12.1.4.4.3                Weaknesses/Competitive threats       126

12.1.5      GAMECHANGE SOLAR   127

12.1.5.1  Business overview 127

12.1.5.2  Products/Solutions/Services offered 127

12.1.5.3  Recent developments           128

12.1.5.3.1                Deals      128

12.1.5.3.2                Expansions             128

12.1.5.4  MnM view              128

12.1.5.4.1                Key strengths/Right to win 128

12.1.5.4.2                Strategic choices   129

12.1.5.4.3                Weaknesses/Competitive threats       129

12.1.6      ARCTECH             130

12.1.6.1  Business overview 130

12.1.6.2  Products/Solutions/Services offered 131

12.1.6.3  Recent developments           132

12.1.6.3.1                Deals      132

12.1.6.4  MnM view              132

12.1.6.4.1                Key strengths/Right to win 132

12.1.6.4.2                Strategic choices   132

12.1.6.4.3                Weaknesses/Competitive threats       132

12.1.7      FTC SOLAR         133

12.1.7.1  Business overview 133

12.1.7.2  Products/Solutions/Services offered 134

12.1.7.3  Recent developments           135

12.1.7.3.1                Product launches  135

12.1.7.3.2                Deals      135

12.1.7.4  MnM views            136

12.1.7.4.1                Key strengths/Right to win 136

12.1.7.4.2                Strategic choices   136

12.1.7.4.3                Weaknesses/Competitive threats       136

12.1.8      VALMONT INDUSTRIES, INC.     137

12.1.8.1  Business overview 137

12.1.8.2  Products/Solutions/Services offered 138

12.1.8.3  Recent developments           139

12.1.8.3.1                Deals      139

12.1.8.4  MnM view              139

12.1.8.4.1                Key strengths/Right to win 139

12.1.8.4.2                Strategic choices   139

12.1.8.4.3                Weaknesses/Competitive threats       139

12.1.9      ALL EARTH RENEWABLES            140

12.1.9.1  Business overview 140

12.1.9.2  Products/Solutions/Services offered 140

12.1.9.3  MnM view              140

12.1.9.3.1                Key strengths/Right to win 140

12.1.9.3.2                Strategic choices   141

12.1.9.3.3                Weaknesses/Competitive threats       141

12.1.10   XIAMEN GRACE SOLAR NEW ENERGY TECHNOLOGY CO., LTD.             142

12.1.10.1                 Business overview 142

12.1.10.2                 Products/Solutions/Services offered 142

12.1.10.3                 MnM view              143

12.1.10.3.1             Key strengths/Right to win 143

12.1.10.3.2             Strategic choices   143

12.1.10.3.3             Weaknesses/Competitive threats       143

12.1.11   SUN ACTION TRACKERS                144

12.1.11.1                 Business overview 144

12.1.11.2                 Products/Solutions/Services offered 144

12.1.11.3                 MnM view              144

12.1.11.3.1             Key strengths/Right to win 144

12.1.11.3.2             Strategic choices   144

12.1.11.3.3             Weaknesses/Competitive threats       145

12.1.12   TRINASOLAR     146

12.1.12.1                 Business overview 146

12.1.12.2                 Products/Solutions/Services offered 147

12.1.12.3                 Recent developments           148

12.1.12.3.1             Deals      148

12.1.12.4                 MnM view              148

12.1.12.4.1             Key strengths/Right to win 148

12.1.12.4.2             Strategic choices   148

12.1.12.4.3             Weaknesses/Competitive threats       148

12.1.13   ADES TEMPERO GROUP                149

12.1.13.1                 Business overview 149

12.1.13.2                 Products/Solutions/Services offered 149

12.1.13.3                 MnM view              149

12.1.13.3.1             Key strengths/Right to win 149

12.1.13.3.2             Strategic choices   149

12.1.13.3.3             Weaknesses/Competitive threats       149

12.1.14   AIVATECHOLOGY            150

12.1.14.1                 Business overview 150

12.1.14.2                 Products/Solutions/Services offered 150

12.1.14.3                 MnM view              150

12.1.14.3.1             Key strengths/Right to win 150

12.1.14.3.2             Strategic choices   150

12.1.14.3.3             Weaknesses/Competitive threats       151

12.1.15   ARCELORMITTAL             152

12.1.15.1                 Business overview 152

12.1.15.2                 Products/Solutions/Services offered 153

12.1.15.3                 MnM view              154

12.1.15.3.1             Key strengths/Right to win 154

12.1.15.3.2             Strategic choices   154

12.1.15.3.3             Weaknesses/Competitive threats       154

12.2         OTHER PLAYERS              155

12.2.1      GONVARRI SOLAR STEEL             155

12.2.2      MECASOLAR      155

12.2.3      ASUN TRACKERS PVT. LTD.         156

12.2.4      ATEC ROBOTICS               156

12.2.5      SHANDONG ZHAORI NEW ENERGY TECH. CO., LTD.                 157

12.2.6      ENERGY XPRT   157

12.2.7      OPTIMUM-TRACKER      158

12.2.8      TRACKERS FEINA S.L.     158

12.2.9      FLEXRACK BY QCELLS, LLC         159

12.2.10   SOLARGIK LTD.                 159

13            APPENDIX           160

13.1         DISCUSSION GUIDE        160

13.2         KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL                163

13.3         CUSTOMIZATION OPTIONS        165

13.4         RELATED REPORTS         165

13.5         AUTHOR DETAILS           166

LIST OF TABLES

TABLE 1                KEY PRIMARY INTERVIEW PARTICIPANTS                 24

TABLE 2                SOLAR TRACKER MARKET SNAPSHOT   32

TABLE 3                INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION        46

TABLE 4                KEY BUYING CRITERIA FOR SOLAR TRACKER APPLICATIONS 47

TABLE 5                EXPORT DATA FOR HS CODE 854143-COMPLIANT PRODUCTS, BY COUNTRY, 2022–2023 (USD THOUSAND)      49

TABLE 6                IMPORT DATA FOR HS CODE 854143-COMPLIANT PRODUCTS, BY COUNTRY,

2022–2023 (USD THOUSAND)      50

TABLE 7                EXPORT DATA FOR HS CODE 854142-COMPLIANT PRODUCTS, BY COUNTRY,

2022–2023 (USD THOUSAND)      51

TABLE 8                IMPORT DATA FOR HS CODE 854142-COMPLIANT PRODUCTS, BY COUNTRY,

2022–2023 (USD THOUSAND)      52

TABLE 9                ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  57

TABLE 10              NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  57

TABLE 11              EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  58

TABLE 12              ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  59

TABLE 13              SOLAR TRACKER MARKET: LIST OF MAJOR CONFERENCES AND EVENTS,

2024–2025              59

TABLE 14              SOLAR TRACKER MARKET, BY TYPE, 2022–2029 (USD MILLION) 64

TABLE 15              GRID-CONNECTED: SOLAR TRACKER MARKET, BY REGION,

2022–2029 (USD MILLION)            65

TABLE 16              OFF-GRID: SOLAR TRACKER MARKET, BY REGION, 2022–2029 (USD MILLION)          66

TABLE 17              SOLAR TRACKER MARKET, BY AXIS TYPE, 2022–2029 (USD MILLION)       68

TABLE 18              SINGLE-AXIS: SOLAR TRACKER MARKET, BY REGION, 2022–2029 (USD MILLION)          69

TABLE 19              DUAL-AXIS: SOLAR TRACKER MARKET, BY REGION, 2022–2029 (USD MILLION)          70

TABLE 20              SOLAR TRACKER MARKET, BY APPLICATION, 2022–2029 (USD MILLION)            72

TABLE 21             UTILITY: SOLAR TRACKER MARKET, BY REGION, 2022–2029 (USD MILLION)            73

TABLE 22              NON-UTILITY: SOLAR TRACKER MARKET, BY REGION, 2022–2029 (USD MILLION)          74

TABLE 23              SOLAR TRACKER MARKET, BY REGION, 2022–2029 (USD MILLION)       77

TABLE 24              NORTH AMERICA: SOLAR TRACKER MARKET, BY TYPE, 2022–2029 (USD MILLION)         78

TABLE 25              NORTH AMERICA: SOLAR TRACKER MARKET, BY AXIS TYPE,

2022–2029 (USD MILLION)            78

TABLE 26              NORTH AMERICA: SOLAR TRACKER MARKET, BY APPLICATION,

2022–2029 (USD MILLION)            79

TABLE 27              NORTH AMERICA: SOLAR TRACKER MARKET, BY COUNTRY,

2022–2029 (USD MILLION)            79

TABLE 28              EUROPE: SOLAR TRACKER MARKET, BY TYPE, 2022–2029 (USD MILLION)            81

TABLE 29              EUROPE: SOLAR TRACKER MARKET, BY AXIS TYPE, 2022–2029 (USD MILLION)                81

TABLE 30              EUROPE: SOLAR TRACKER MARKET, BY APPLICATION, 2022–2029 (USD MILLION)              81

TABLE 31              EUROPE: SOLAR TRACKER MARKET, BY COUNTRY, 2022–2029 (USD MILLION)     81

TABLE 32              ASIA PACIFIC: SOLAR TRACKER MARKET, BY TYPE, 2022–2029 (USD MILLION)                85

TABLE 33              ASIA PACIFIC: SOLAR TRACKER MARKET, BY AXIS TYPE,

2022–2029 (USD MILLION)            86

TABLE 34              ASIA PACIFIC: SOLAR TRACKER MARKET, BY APPLICATION,

2022–2029 (USD MILLION)            86

TABLE 35              ASIA PACIFIC: SOLAR TRACKER MARKET, BY COUNTRY,

2022–2029 (USD MILLION)            86

TABLE 36              LATIN AMERICA: SOLAR TRACKER MARKET, BY TYPE, 2022–2029 (USD MILLION)                89

TABLE 37              LATIN AMERICA: SOLAR TRACKER MARKET, BY AXIS TYPE,

2022–2029 (USD MILLION)            89

TABLE 38              LATIN AMERICA: SOLAR TRACKER MARKET, BY APPLICATION,

2022–2029 (USD MILLION)            89

TABLE 39              LATIN AMERICA: SOLAR TRACKER MARKET, BY COUNTRY,

2022–2029 (USD MILLION)            90

TABLE 40              MIDDLE EAST & AFRICA: SOLAR TRACKER MARKET, BY TYPE,

2022–2029 (USD MILLION)            91

TABLE 41              MIDDLE EAST & AFRICA: SOLAR TRACKER MARKET, BY AXIS TYPE,

2022–2029 (USD MILLION)            91

TABLE 42              MIDDLE EAST & AFRICA: SOLAR TRACKER MARKET, BY APPLICATION,

2022–2029 (USD MILLION)            92

TABLE 43              MIDDLE EAST & AFRICA: SOLAR TRACKER MARKET, BY COUNTRY,

2022–2029 (USD MILLION)            92

TABLE 44              STRATEGIES ADOPTED BY SOLAR TRACKER MANUFACTURERS, 2019–2024      94

TABLE 45              SOLAR TRACKER MARKET: DEGREE OF COMPETITION, 2023       97

TABLE 46              SOLAR TRACKER MARKET: REGION FOOTPRINT                 104

TABLE 47              SOLAR TRACKER MARKET: AXIS TYPE FOOTPRINT       105

TABLE 48              SOLAR TRACKER MARKET: APPLICATION FOOTPRINT       106

TABLE 49              SOLAR TRACKER MARKET: LIST OF KEY STARTUPS/SMES              108

TABLE 50              SOLAR TRACKER MARKET: COMPETITIVE BENCHMARKING OF

KEY STARTUPS/SMES    109

TABLE 51              SOLAR TRACKER MARKET: PRODUCT LAUNCHES, JANUARY 2019–JUNE 2024     109

TABLE 52              SOLAR TRACKER MARKET: DEALS, JANUARY 2019–JUNE 2024  110

TABLE 53              SOLAR TRACKER MARKET: EXPANSIONS, JANUARY 2019–JUNE 2024              111

TABLE 54              NEXTRACKER INC.: COMPANY OVERVIEW                 112

TABLE 55              NEXTRACKER INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    113

TABLE 56              NEXTRACKER INC.: PRODUCT LAUNCHES                 114

TABLE 57              NEXTRACKER INC.: DEALS           114

TABLE 58              NEXTRACKER INC.: EXPANSIONS              115

TABLE 59              ARRAY TECHNOLOGIES, INC.: COMPANY OVERVIEW          117

TABLE 60              ARRAY TECHNOLOGIES, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    119

TABLE 61              ARRAY TECHNOLOGIES, INC.: DEALS     119

TABLE 62              PVHARDWARE: COMPANY OVERVIEW   121

TABLE 63              PVHARDWARE: PRODUCTS/SOLUTIONS/SERVICES OFFERED    121

TABLE 64              PVHARDWARE: DEALS  122

TABLE 65              SOLTEC: COMPANY OVERVIEW 123

TABLE 66              SOLTEC: PRODUCTS/SOLUTIONS/SERVICES OFFERED             124

TABLE 67              SOLTEC: PRODUCT LAUNCHES 125

TABLE 68              SOLTEC: DEALS                125

TABLE 69              GAMECHANGE SOLAR: COMPANY OVERVIEW                 127

TABLE 70              GAMECHANGE SOLAR: PRODUCTS/SOLUTIONS/SERVICES OFFERED    127

TABLE 71              GAMECHANGE SOLAR: DEALS   128

TABLE 72              GAMECHANGE SOLAR: EXPANSIONS      128

TABLE 73              ARCTECH: COMPANY OVERVIEW             130

TABLE 74              ARCTECH: PRODUCTS/SOLUTIONS/SERVICES OFFERED             131

TABLE 75              ARCTECH: DEALS            132

TABLE 76              FTC SOLAR: COMPANY OVERVIEW          133

TABLE 77              FTC SOLAR: PRODUCTS/SOLUTIONS/SERVICES OFFERED             134

TABLE 78              FTC SOLAR: PRODUCT LAUNCHES          135

TABLE 79              FTC SOLAR: DEALS         135

TABLE 80              VALMONT INDUSTRIES, INC.: COMPANY OVERVIEW          137

TABLE 81              VALMONT INDUSTRIES, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    138

TABLE 82              VALMONT INDUSTRIES, INC.: DEALS      139

TABLE 83              ALL EARTH RENEWABLES: COMPANY OVERVIEW          140

TABLE 84              ALL EARTH RENEWABLES: PRODUCTS/SOLUTIONS/SERVICES OFFERED    140

TABLE 85              XIAMEN GRACE SOLAR NEW ENERGY TECHNOLOGY CO., LTD.:

COMPANY OVERVIEW   142

TABLE 86              XIAMEN GRACE SOLAR NEW ENERGY TECHNOLOGY CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED             142

TABLE 87              SUN ACTION TRACKERS: COMPANY OVERVIEW                 144

TABLE 88              SUN ACTION TRACKERS: PRODUCTS/SOLUTIONS/SERVICES OFFERED    144

TABLE 89              TRINASOLAR: COMPANY OVERVIEW      146

TABLE 90              TRINASOLAR: PRODUCTS/SOLUTIONS/SERVICES OFFERED    147

TABLE 91              TRINASOLAR: DEALS     148

TABLE 92              ADES TEMPERO GROUP: COMPANY OVERVIEW                 149

TABLE 93              ADES TEMPERO GROUP PRODUCTS/SOLUTIONS/SERVICES OFFERED    149

TABLE 94              AIVATECHOLOGY: COMPANY OVERVIEW                 150

TABLE 95              AIVATECHOLOGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED    150

TABLE 96              ARCELORMITTAL: COMPANY OVERVIEW                 152

TABLE 97              ARCELORMITTAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED    153

TABLE 98              GONVARRI SOLAR STEEL: COMPANY OVERVIEW          155

TABLE 99              MECASOLAR: COMPANY OVERVIEW       155

TABLE 100            ASUN TRACKERS PVT. LTD.: COMPANY OVERVIEW          156

TABLE 101            ATEC ROBOTICS: COMPANY OVERVIEW                 156

TABLE 102            SHANDONG ZHAORI NEW ENERGY TECH. CO., LTD.: COMPANY OVERVIEW       157

TABLE 103            ENERGY XPRT: COMPANY OVERVIEW    157

TABLE 104            OPTIMUM-TRACKER: COMPANY OVERVIEW                 158

TABLE 105            TRACKERS FEINA S.L.: COMPANY OVERVIEW                 158

TABLE 106            FLEXRACK BY QCELLS, LLC: COMPANY OVERVIEW          159

TABLE 107            SOLARGIK LTD.: COMPANY OVERVIEW 159

LIST OF FIGURES

FIGURE 1              SOLAR TRACKER MARKET SEGMENTATION AND REGIONAL SCOPE 19

FIGURE 2              SOLAR TRACKER MARKET: RESEARCH DESIGN                 22

FIGURE 3              KEY DATA FROM SECONDARY SOURCES                 23

FIGURE 4              KEY DATA FROM PRIMARY SOURCES     24

FIGURE 5              BREAKDOWN OF PRIMARIES: BY COMPANY TYPE, DESIGNATION, AND REGION        25

FIGURE 6              KEY DATA FROM PRIMARY SOURCES     25

FIGURE 7              MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH              26

FIGURE 8              MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH                26

FIGURE 9              SUPPLY-SIDE ANALYSIS                 27

FIGURE 10            DEMAND-SIDE ANALYSIS             28

FIGURE 11            SOLAR TRACKER MARKET: DATA TRIANGULATION             29

FIGURE 12            SOLAR TRACKER MARKET: FACTOR ANALYSIS                 30

FIGURE 13            NORTH AMERICA ACCOUNTED FOR LARGEST SHARE OF

SOLAR TRACKER MARKET IN 2023            33

FIGURE 14            GRID-CONNECTED SEGMENT TO LEAD SOLAR TRACKER MARKET IN 2024           33

FIGURE 15            DUAL-AXIS SEGMENT TO REGISTER HIGHER CAGR IN

SOLAR TRACKER MARKET DURING FORECAST PERIOD 34

FIGURE 16            UTILITY SEGMENT TO DOMINATE SOLAR TRACKER MARKET IN 2024           34

FIGURE 17            GREEN ENERGY GOALS TO BOOST MARKET GROWTH BETWEEN 2024 AND 2029          35

FIGURE 18            ASIA PACIFIC TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD       36

FIGURE 19            GRID-CONNECTED SEGMENT TO ACCOUNT FORLARGER MARKET SHARE IN 2029      36

FIGURE 20            SINGLE-AXIS SEGMENT TO CAPTURE MAJORITY OF MARKET SHARE IN 2029          37

FIGURE 21            UTILITY SEGMENT TO GRAB PROMINENT MARKET SHARE IN 2029 37

FIGURE 22            DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES

INSOLAR TRACKER MARKET       38

FIGURE 23            SOLAR TRACKER MARKET: PORTER’S FIVE FORCES ANALYSIS           43

FIGURE 24            INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION       46

FIGURE 25            KEY BUYING CRITERIA FOR SOLAR TRACKERS, BY APPLICATION             46

FIGURE 26            SOLAR TRACKER MARKET: SUPPLY CHAIN ANALYSIS            47

FIGURE 27            EXPORT SCENARIO FOR HS CODE 854143-COMPLIANT PRODUCTS IN

TOP 5 COUNTRIES, 2022–2023 (USD THOUSAND)              49

FIGURE 28            IMPORT SCENARIO FOR HS CODE 854143-COMPLIANT PRODUCTS IN

TOP 5 COUNTRIES, 2022–2023 (USD THOUSAND)              50

FIGURE 29            EXPORT SCENARIO FOR HS CODE 854142-COMPLIANT PRODUCTS IN

TOP 5 COUNTRIES, 2022–2023 (USD THOUSAND)              51

FIGURE 30            IMPORT SCENARIO FOR HS CODE 854142-COMPLIANT PRODUCTS IN

TOP 5 COUNTRIES, 2022–2023 (USD THOUSAND)              52

FIGURE 31            GLOBAL PATENT PUBLICATION TREND, 2018–2023        53

FIGURE 32            GLOBAL JURISDICTION ANALYSIS           54

FIGURE 33            NEXTRACKER REGISTERED HIGHEST PATENT COUNT IN 2023 55

FIGURE 34            TRENDS AND DISRUPTIONS INFLUENCING CUSTOMER BUSINESS   61

FIGURE 35            GRID-CONNECTED SEGMENT TO LEAD SOLAR TRACKER MARKET IN 2024           64

FIGURE 36            SINGLE-AXIS SOLAR TRACKERS TO DOMINATE MARKET IN 2024                68

FIGURE 37            UTILITY APPLICATIONS TO DOMINATE SOLAR TRACKER MARKET IN 2024           72

FIGURE 38            ASIA PACIFIC TO REGISTER HIGHEST CAGR IN

SOLAR TRACKER MARKETDURING FORECAST PERIOD 76

FIGURE 39            NORTH AMERICA: SOLAR TRACKER MARKET SNAPSHOT          78

FIGURE 40            ASIA PACIFIC: SOLAR TRACKER MARKET SNAPSHOT          85

FIGURE 41            SOLAR TRACKER MARKET: REVENUE ANALYSIS OF

TOP 5 MARKET PLAYERS, 2021–2023         96

FIGURE 42            MARKET SHRE ANALYSIS OF TOP COMPANIES IN SOLAR TRACKER MARKET, 2023           97

FIGURE 43            SOLAR TRACKER MARKET: FINANCIAL METRICS (EV/EBITDA)     99

FIGURE 44            YEAR-TO-DATE (YTD) PRICE TOTAL RETURN AND

5-YEAR STOCK BETA OFKEY VENDORS  99

FIGURE 45            BRAND/PRODUCT COMPARATIVE ANALYSIS                 100

FIGURE 46            SOLAR TRACKER MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023         101

FIGURE 47            SOLAR TRACKER MARKET: COMPANY FOOTPRINT       102

FIGURE 48            SOLAR TRACKER MARKET: MARKET FOOTPRINT       103

FIGURE 49            SOLAR TRACKER MARKET: COMPANY EVALUATION MATRIX

(STARTUPS/SMES), 2023                107

FIGURE 50            NEXTRACKER INC.: COMPANY SNAPSHOT                 113

FIGURE 51            ARRAY TECHNOLOGIES, INC.: COMPANY SNAPSHOT          118

FIGURE 52            SOLTEC: COMPANY SNAPSHOT                 124

FIGURE 53            ARCTECH: COMPANY SNAPSHOT             131

FIGURE 54            FTC SOLAR: COMPANY SNAPSHOT          134

FIGURE 55            VALMONT INDUSTRIES, INC.: COMPANY SNAPSHOT          138

FIGURE 56            TRINASOLAR: COMPANY SNAPSHOT      147

FIGURE 57            ARCELORMITTAL: COMPANY SNAPSHOT                 153