Dual-axis Solar Tracker Market Size, Share & Trends Analysis Report By Application, By Region, And Segment Forecasts, 2023 To 2030

The global dual-axis solar tracker market is expected to witness significant demand owing to the rise in global demand for high efficiency electricity generation technology, such as concentrating solar-thermal power (CSP) and concentrator photovoltaics (CPV). In addition, rising demand for sustainable and clean energy is also one of the prime factors, which are expected to drive the growth of global market over the forecast period.

The dual-axis solar tracker plays a critical role in energy systems as they can collect energy from the sun from all angles. They are typically used to align a mirror and direct sunlight to a stationary receiver along a fixed axis. Furthermore, they function on two main axes i.e., horizontal and a vertical where one axis helps the system to move from east to west, and the other helps the system to move from north to south. The aforementioned factors help them to generate up to 40 per cent more electricity than the unmovable panel, which is expected to boost the product growth.

Furthermore, there are three means of changing the trackers’ position, first manual method where few personnel are deployed to adjust the system’s position few times during the day. For passive method the system is fitted with a liquid bulb exposed to sun, which causes liquid to evaporate, thus, the volume expansion pushes and tilts the attached system accordingly. Moreover, for active adjustment, electric motors or hydraulic cylinders are used to adjust the position of the tracker.

On the basis of application industries, the global dual-axis solar tracker market is segmented in utility and non-utility. The demand for dual-axis solar system in utility industry is expected to witness the most rapid growth on account of high degree of accuracy in directional pointing, high flexibility, and high output on sunny days.

Asia Pacific is expected to dominate the global market on account of the robust base of the end-use industry. In addition, rising investment in infrastructural development, industrialization, and energy & power sector in emerging economies such as China and India is further expected to supplement the growth of dual-axis solar tracker market in the region

Dual-axis solar tracker market is a highly concentrated market with the presence of a limited set of players involved in the supply and installation of products across the globe. Threat of new entrants in the industry is extremely low since the industry requires high capital investment, and extensive technical knowhow.

Some of the key players in the global dual-axis solar tracker market include AllEarth Renewables, Inc., DEGERenergie GmbH & Co. KG, Mechatron, Cabanillas Future, SL,Abengoa., Haosolar Co. Ltd., Nextracker Inc., Sun Action Trackers. The industry is displaying high R&D initiatives by the manufacturers, which is currently characterizing the market.