Solar PV Tracker Market to grow by USD 7.43 Bn by 2026, Declining cost of solar energy to boost market growth -Technavio

NEW YORK, Oct. 12, 2022 /PRNewswire/ — The solar PV tracker market is expected to grow by USD 7.43 billion, at a CAGR of 17.28% during the forecast period. The rise in investments in renewable energy, increasing government support and the declining cost of solar energy is one of the major factors propelling the market growth. However, factors such as intermittency in solar power generation, competition from alternative sources of energy, and high water requirement for CSP projects will hamper the market growth. Request Free Sample Report.

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.   

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• Abengoa SA
• AllEarth Renewables Inc
• ArcelorMittal SA
• Arctech Solar Holding Co Ltd
• Array Technologies Inc.
• Convert Italia SpA
• First Solar Inc.
• GameChange Solar
• Grupo Gransolar SL
• Hao solar Co Ltd
• IDEEMATEC Germany GmbH
• Mahindra Susten.

• Product placement (single-axis trackers and dual-axis trackers)
• Technology (solar PV and CSP)
• Geography (North America, Europe, APAC, South America, and the Middle East and Africa)

North America will account for 37% of market growth. One of the major markets in North America for solar PV trackers is the US. This region’s market will grow less quickly than the markets in APAC, MEA, and South America. Over the forecast period, the expansion of the solar PV tracker market in North America would be aided by the falling cost of solar energy.

There will be a large increase in the single-axis tracker segment’s solar PV tracker market share. In terms of market share, single-axis trackers dominated the solar PV tracker market in 2021 and are anticipated to do so again during the projected period. The cost of them is lower than that of dual-axis trackers. Buy Sample Report.

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Related Reports:

Off-Grid Energy Storage System Market by Battery Type and Geography – Forecast and Analysis 2022-2026: The off-grid energy storage system market share is expected to increase by USD 6.22 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7%.

Small Wind Turbine Market by Type and Geography – Forecast and Analysis 2022-2026: The small wind turbine market is projected to grow by 1821.02 megawatts with a CAGR of 13.85% during the forecast period 2021 to 2026.

Table of Contents

1 Executive Summary

• 1.1 Market Overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product Placement
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Technology
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 14: Chart on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 18: Five forces analysis – Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 24: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Product Placement

• 5.1 Market segments 
• Exhibit 25: Chart on Market Segmentation by Product Placement – Market share 2021-2026 (%)
• Exhibit 26: Data Table on Market Segmentation by Product Placement – Market share 2021-2026 (%)

• 5.2 Comparison by Market Segmentation by Product Placement
• Exhibit 27: Chart on Comparison by Market Segmentation by Product Placement
• Exhibit 28: Data Table on Comparison by Market Segmentation by Product Placement

• 5.3 Single axis tracker – Market size and forecast 2021-2026
• Exhibit 29: Chart on Single axis tracker – Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Data Table on Single axis tracker – Market size and forecast 2021-2026 ($ million)
• Exhibit 31: Chart on Single axis tracker – Year-over-year growth 2021-2026 (%)
• Exhibit 32: Data Table on Single axis tracker – Year-over-year growth 2021-2026 (%)

• 5.4 Dual-axis trackers – Market size and forecast 2021-2026
• Exhibit 33: Chart on Dual-axis trackers – Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Data Table on Dual-axis trackers – Market size and forecast 2021-2026 ($ million)
• Exhibit 35: Chart on Dual-axis trackers – Year-over-year growth 2021-2026 (%)
• Exhibit 36: Data Table on Dual-axis trackers – Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Market Segmentation by Product Placement 
• Exhibit 37: Market opportunity by Market Segmentation by Product Placement ($ million)

6 Market Segmentation by Technology

• 6.1 Market segments 
• Exhibit 38: Chart on Technology – Market share 2021-2026 (%)
• Exhibit 39: Data Table on Technology – Market share 2021-2026 (%)

• 6.2 Comparison by Technology 
• Exhibit 40: Chart on Comparison by Technology
• Exhibit 41: Data Table on Comparison by Technology

• 6.3 Solar PV – Market size and forecast 2021-2026
• Exhibit 42: Chart on Solar PV – Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on Solar PV – Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on Solar PV – Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on Solar PV – Year-over-year growth 2021-2026 (%)

• 6.4 CSP – Market size and forecast 2021-2026
• Exhibit 46: Chart on CSP – Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on CSP – Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on CSP – Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on CSP – Year-over-year growth 2021-2026 (%)

• 6.5 Market opportunity by Technology 
• Exhibit 50: Market opportunity by Technology ($ million)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 51: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

• 8.1 Geographic segmentation 
• Exhibit 52: Chart on Market share by geography 2021-2026 (%)
• Exhibit 53: Data Table on Market share by geography 2021-2026 (%)

• 8.2 Geographic comparison 
• Exhibit 54: Chart on Geographic comparison
• Exhibit 55: Data Table on Geographic comparison

• 8.3 North America – Market size and forecast 2021-2026
• Exhibit 56: Chart on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 57: Data Table on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 58: Chart on North America – Year-over-year growth 2021-2026 (%)
• Exhibit 59: Data Table on North America – Year-over-year growth 2021-2026 (%)

• 8.4 Europe – Market size and forecast 2021-2026
• Exhibit 60: Chart on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 61: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 62: Chart on Europe – Year-over-year growth 2021-2026 (%)
• Exhibit 63: Data Table on Europe – Year-over-year growth 2021-2026 (%)

• 8.5 APAC – Market size and forecast 2021-2026
• Exhibit 64: Chart on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 65: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 66: Chart on APAC – Year-over-year growth 2021-2026 (%)
• Exhibit 67: Data Table on APAC – Year-over-year growth 2021-2026 (%)

• 8.6 South America – Market size and forecast 2021-2026
• Exhibit 68: Chart on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 69: Data Table on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 70: Chart on South America – Year-over-year growth 2021-2026 (%)
• Exhibit 71: Data Table on South America – Year-over-year growth 2021-2026 (%)

• 8.7 Middle East and Africa – Market size and forecast 2021-2026 
• Exhibit 72: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 73: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 74: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
• Exhibit 75: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)

• 8.8 US – Market size and forecast 2021-2026
• Exhibit 76: Chart on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 77: Data Table on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 78: Chart on US – Year-over-year growth 2021-2026 (%)
• Exhibit 79: Data Table on US – Year-over-year growth 2021-2026 (%)

• 8.9 China – Market size and forecast 2021-2026
• Exhibit 80: Chart on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 81: Data Table on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 82: Chart on China – Year-over-year growth 2021-2026 (%)
• Exhibit 83: Data Table on China – Year-over-year growth 2021-2026 (%)

• 8.10 India – Market size and forecast 2021-2026
• Exhibit 84: Chart on India – Market size and forecast 2021-2026 ($ million)
• Exhibit 85: Data Table on India – Market size and forecast 2021-2026 ($ million)
• Exhibit 86: Chart on India – Year-over-year growth 2021-2026 (%)
• Exhibit 87: Data Table on India – Year-over-year growth 2021-2026 (%)

• 8.11 Germany – Market size and forecast 2021-2026
• Exhibit 88: Chart on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 89: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 90: Chart on Germany – Year-over-year growth 2021-2026 (%)
• Exhibit 91: Data Table on Germany – Year-over-year growth 2021-2026 (%)

• 8.12 Spain – Market size and forecast 2021-2026
• Exhibit 92: Chart on Spain – Market size and forecast 2021-2026 ($ million)
• Exhibit 93: Data Table on Spain – Market size and forecast 2021-2026 ($ million)
• Exhibit 94: Chart on Spain – Year-over-year growth 2021-2026 (%)
• Exhibit 95: Data Table on Spain – Year-over-year growth 2021-2026 (%)

• 8.13 Market opportunity by geography 
• Exhibit 96: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 97: Impact of drivers and challenges in 2021 and 2026

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape 
• Exhibit 98: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption 
• Exhibit 99: Overview on factors of disruption

• 10.4 Industry risks 
• Exhibit 100: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered 
• Exhibit 101: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 102: Matrix on vendor position and classification

• 11.3 Arctech Solar Holding Co Ltd 
• Exhibit 103: Arctech Solar Holding Co Ltd – Overview
• Exhibit 104: Arctech Solar Holding Co Ltd – Key offerings

• 11.4 Array Technologies Inc. 
• Exhibit 105: Array Technologies Inc. – Overview
• Exhibit 106: Array Technologies Inc. – Product / Service
• Exhibit 107: Array Technologies Inc. – Key offerings

• 11.5 Convert Italia SpA 
• Exhibit 108: Convert Italia SpA – Overview
• Exhibit 109: Convert Italia SpA – Product / Service
• Exhibit 110: Convert Italia SpA – Key offerings

• 11.6 First Solar Inc. 
• Exhibit 111: First Solar Inc. – Overview
• Exhibit 112: First Solar Inc. – Business segments
• Exhibit 113: First Solar Inc. – Key news
• Exhibit 114: First Solar Inc. – Key offerings
• Exhibit 115: First Solar Inc. – Segment focus

• 11.7 Grupo Gransolar SL 
• Exhibit 116: Grupo Gransolar SL – Overview
• Exhibit 117: Grupo Gransolar SL – Product / Service
• Exhibit 118: Grupo Gransolar SL – Key offerings

• 11.8 IDEEMATEC Germany GmbH 
• Exhibit 119: IDEEMATEC Germany GmbH – Overview
• Exhibit 120: IDEEMATEC Germany GmbH – Product / Service
• Exhibit 121: IDEEMATEC Germany GmbH – Key offerings

• 11.9 Mahindra Susten. 
• Exhibit 122: Mahindra Susten. – Overview
• Exhibit 123: Mahindra Susten. – Key offerings

• 11.10 NEXtracker Inc 
• Exhibit 124: NEXtracker Inc – Overview
• Exhibit 125: NEXtracker Inc – Product / Service
• Exhibit 126: NEXtracker Inc – Key offerings

• 11.11 Soltec Energias Renovables SL 
• Exhibit 127: Soltec Energias Renovables SL – Overview
• Exhibit 128: Soltec Energias Renovables SL – Product / Service
• Exhibit 129: Soltec Energias Renovables SL – Key offerings

• 11.12 SunPower Corp. 
• Exhibit 130: SunPower Corp. – Overview
• Exhibit 131: SunPower Corp. – Product / Service
• Exhibit 132: SunPower Corp. – Key news
• Exhibit 133: SunPower Corp. – Key offerings

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 134: Inclusions checklist
• Exhibit 135: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 136: Currency conversion rates for US$

• 12.4 Research methodology 
• Exhibit 137: Research methodology
• Exhibit 138: Validation techniques employed for market sizing
• Exhibit 139: Information sources

• 12.5 List of abbreviations 
• Exhibit 140: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/solar-pv-tracker-market-to-grow-by-usd-7-43-bn-by-2026–declining-cost-of-solar-energy-to-boost-market-growth–technavio-301646345.html

SOURCE Technavio