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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Dual-Axis Solar Tracker Market Outlook
The global dual-axis solar tracker market size will expand at a CAGR of 15% over the forecast period of 2024-2032.
The high efficiency of electricity generation generated by new solar technologies, including CSP and CPV, is enhancing the popularity of the solar industry. Due to their ability to generate electricity from stored thermal energy during nights, along with the hours of low solar radiation, CSP plants are favoured over conventional solar PV plants.
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Market Segmentation
Usually, dual-axis tracking is used to align a mirror and guide sunlight to a stationary receiver along a fixed axis. Due to the nature of trackers to follow the sun vertically and horizontally, they help to achieve optimum production of solar energy.
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The dual-axis solar tracker market can be divided based on application segments into:
- Utility
- Non-Utility
The EMR report looks into the regional markets of dual-axis solar tracker like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific regions.
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Market Analysis
For CSP and CPV, the dual-axis solar trackers are commonly used as the mirrors, and modules used in these technologies allow an ideal angle of continuous exposure to sunlight. As a result, the rising CSP and CPV solar plant installations will be a crucial factor driving the market demand for dual-axis solar trackers. The increasing component production scale and intense competition between players in the solar power market have helped to reduce solar power generation costs. The adoption of solar technology has been boosted by the growth of ESS, which during non-productive hours, has bridged the gap between production and supply of solar PV systems. It is expected that the rising demand for clean and sustainable energy will fuel the demand for solar PV panels in countries like India, China, Germany, and the United States. Due to the higher production output provided by dual-axis solar trackers in comparison to the other alternatives, the increasing use of solar energy for generating power will boost the growth of the dual-axis solar tracker market.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global dual-axis solar tracker market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- AllEarth Renewables, Inc.
- DEGERenergie GmbH & Co. KG
- Mechatron SA
- Haosolar Co. Ltd
- InfiniteERCAM SA
- Qingdao Eternal Electronic Co. Ltd.
- Titan Tracker SL
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter's Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 15% between 2024 and 2032.
The major drivers of the market include the increasing component production scale, growth of ESS, rising demand for clean and sustainable energy and increasing use of solar energy for generating power.
The high efficiency of electricity generation generated by new solar technologies and rising CSP and CPV solar plant installations are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, Middle East and Africa, Europe, and Asia Pacific.
The major applications of the market includes utility and non-utility.
The major players in the industry are AllEarth Renewables, Inc., DEGERenergie GmbH & Co. KG, Mechatron SA, Haosolar Co. Ltd, InfiniteERCAM SA, Qingdao Eternal Electronic Co. Ltd., Titan Tracker SL, Others.
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