Syndicated Research Studies

Solar Tracker Market Growth & Trends The global solar tracker market size is expected to reach USD 29.31 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 26.2% from 2023 to 2030. The market is expected to witness substantial growth over the forecast period owing to the growing need for renewable power generation. Solar tracker is installed on a PV system to get an increased energy output during the day. PV system trackers help to minimize the angle of incidence between incoming light and panel, thereby increasing the amount of energy produced. In Concentrated Photovoltaic (CPV) technology, a large part of sunlight is focused on a solar cell using an optical device. Concentrating light requires direct sunlight, thereby limiting this technology to clear locations. The single axis type segment is predicted to witness significant growth from 2022 to 2030. Single axis trackers are more economical...

The global solar tracker market was valued at USD 4.41 billion in 2022, and it is projected to grow at a robust compound annual growth rate (CAGR) of 26.2% from 2023 to 2030. This growth is largely driven by increasing global concerns about energy conservation and the ongoing transition from non-renewable to renewable energy sources. As more attention is given to sustainability, the demand for solar energy, and by extension, solar trackers, is expected to rise significantly throughout the forecast period. A solar tracker is a mechanical system that adjusts the position of solar panels, using various electrical components such as actuators, motors, and sensors, to ensure that the solar panels are properly oriented to capture the maximum amount of sunlight. This optimal positioning enhances the efficiency of solar energy generation by allowing the panels to concentrate the sunlight and increase energy absorption. The captured sunlight is then converted into electricity, which is utilize...

The global solar tracker market was valued at approximately USD 4.41 billion in 2022 and is projected to experience significant growth, with a compound annual growth rate (CAGR) of 26.2% from 2023 to 2030. This growth is largely driven by rising concerns about energy conservation and the ongoing transition from non-renewable to renewable energy sources, which is expected to greatly increase the demand for solar energy and consequently, for solar trackers over the forecast period. Solar trackers utilize a variety of electrical components, including actuators, motors, and sensors, to adjust the positioning of solar cells. This adjustment allows solar panels to concentrate sunlight more effectively, thereby maximizing energy capture. The solar radiation collected by these systems is converted into electricity, which is utilized across various end-user segments. The increasing acceptance of solar power as a practical source for commercial energy generation is gaining momentum, driven by t...

The global solar tracker market was valued at approximately USD 4.41 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 26.2% from 2023 to 2030. Increasing concerns regarding energy conservation and the shift from non-renewable to renewable energy sources are expected to significantly boost the demand for solar energy, and consequently for solar trackers, over the forecast period worldwide. Solar trackers employ various electrical components, including actuators, motors, and sensors, to adjust the position of solar cells, allowing them to concentrate sunlight and maximize energy capture. The solar radiation collected is then converted into electricity, which is used across different end-user segments. The growing adoption of solar power as a viable source for commercial energy generation has gained traction, driven by the declining costs of solar photovoltaic (PV) panels, which is anticipated to further propel the growth of the solar tracker market. In...