Dual Axis Solar Tracker Market Size By Application (Residential, Commercial & Industrial, Utility), Industry Analysis Report & Forecast, 2024 – 2032

Dual Axis Solar Tracker Market Size

Dual Axis Solar Tracker Market size surpassed USD 7.88 billion in 2023 and is projected to grow at 6.5% CAGR from 2024 to 2032. Rising consumer inclination toward cost effective clean electricity generation along with government policies supporting renewable energy systems will complement the industry growth.
 

For instance, establishment of RPS (renewable portfolio standards) to promote the adoption of clean energy sources will stimulate the market statistics. It will further enable the systems to give higher energy yields and increased electricity generation, which will augment the business landscape. Shifting government focus toward developing mandates and policies including net-metering and feed in tariff, providing a favorable scenario for solar energy systems. They can generate more electricity in comparison to fixed-tilt systems or single-axis trackers, thereby, support in incentivizing their use across residential, commercial, and utility-scale applications.

COVID- 19 Impact

The COVID- 19 outbreak might impact the overall solar industry expansion owing to government-mandated lockdowns & restrictions. Various supply chain disruptions, component delivery delays and construction project suspensions are some of the main elements influencing the dual axis solar tracker market growth. However, a positive outlook to maintain a sustainable environment along with reduced health hazards will continue to complement the business trends. Hence, the consumers are focused to adopt efficient energy systems, thereby substantially reducing energy consumption, which will stimulate the product demand.
 

Dual Axis Solar Tracker Market Trends

Dual-axis solar trackers significantly enhance the energy production in comparison to fixed-tilt or single-axis tracking systems. It will further enable the systems to give higher energy yields and increased electricity generation, which will augment the industry landscape. Shifting government focus toward developing mandates and policies including net-metering and feed in tariff, providing a favorable scenario for solar energy systems. They can generate more electricity in comparison to fixed-tilt systems or single-axis trackers, which will support in incentivizing their use across residential, commercial, and utility-scale applications.
 

Dual Axis Solar Tracker Market Analysis

Utility dual axis solar tracker market will expand at 6% growth rate during 2023 to 2032 due to rising public funding and increasing government initiatives to spur solar energy expansion. Growing demand for off grid power has supported solar energy in becoming an effective energy option across various sectors will boost the business scenario. Growing product utilization in regions with fluctuating weather patterns support maintain optimal panel alignment, thereby maximizing the output even in suboptimal sunlight conditions while also minimizing the financial risk, thereby stimulating the market trends.
 

Higher energy yields and increased electricity generation make this kind of tracker an attractive option for residential solar power plant developers, which will positively strengthen the market growth. Rising efforts across the private and public sectors along with the continuous advancement in the tracker technology will augment the product adoption. For instance, in July 2021, Mechatron Solar introduced two new design of dual axis trackers in its product portfolio. M10KD for residential application features compact size and yields solar power up to 20kW utilizing 420W modules. M16KD tracker for agricultural application yields solar power up to 33kW utilizing 420W modules.
 

North America dual axis solar tracker market crossed a valuation of USD 315 million in 2022. Rapid decline in the cost of renewable energy and solar tracker components in line with the expansion of non-hydropower energy sources comprising wind and solar, in various regions including North America will spur the market landscape. Improved design techniques have boosted the overall efficiency and reliability of dual-axis trackers, further contributing to their sector growth. Optimized land utilization and higher panel density per unit increases especially for regions with limited land availability are some of the features which will sway the business outlook.
 

However, closed partnerships & mergers among solar developers and state-owned companies to increase solar tracker installations across commercial & industrial establishments along with provisions related to the use of dual-axis solar trackers, such as structural requirements, setback distances, and safety considerations will foster the market trend in the region.
 

Dual Axis Solar Tracker Market Share

Eminent players operating across the dual axis solar tracker market includes:

• Solar CenTex
• Array Technologies Inc
• All Earth Renewables
• Abengoa, Haosolar Co Ltd
• DEGERENERGIE GMBH & CO KG
• Sun Action Trackers
• PARU
• Targay 
• Suntactics
• Stracker Incorporated,
• Mechatron Solar

 Manufacturers operating across the industry are focusing on augmenting their market presence through partnerships, strategic mergers, acquisitions, and collaborations along with rising product developments will bolster the market statistics.
 

Dual Axis Solar Tracker Industry News

• In February 2023, Stracker Solar entered into an agreement with AFC Solar to install its advanced dual-axis solar tracker on for commercial and industrial solar sectors. The companies see huge potential in elevated dual-axis solar tracker with durability and flexibly for various environmental conditions. Thereby, this innovative technology will enhance the company’s portfolio and support in maintaining strong position across the market.
   
• In March 2022, Mechatron Solar received an order for its patented dual axis solar tracker technology for solar carport in academic institution’s campus in Israel. Additionally, the company designed the product for agricultural application while significantly supporting country’s renewable energy. Henceforth, the country was able to establish a robust customer base in the market.
   

This dual axis solar tracker market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘MW & USD Million’ from 2023 to 2032 for the following segments:

Click here to Buy Section of this Report

Market, By Application

• Residential
• Commercial & Industrial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico 
• Europe
  • UK
  • France
  • Netherlands
  • Germany
  • Sweden
  • Spain
  • Austria
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East
  • Saudi Arabia
  • UAE
  • Jordan
  • Israel
• Africa
  • South Africa
  • Egypt
  • Algeria
  • Nigeria
  • Morocco
• Latin America
  • Brazil
  • Chile