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Asia Pacific Solar Tracker Market Trends

Report ID: GMI8797
Published Date: Apr 2024
Report Format: PDF

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Asia Pacific Solar Tracker Market Trends

Rising commitment toward achieving renewable energy targets and combating climate change in conjunction with reducing reliance on centralized energy systems will boost the industry outlook. For instance, in September 2023, New & Renewable Energy Minister and Union Power in India announced that the country is set to reach its 500 GW renewable energy target by 2030. Furthermore, rising implementation of digital solutions to remotely monitor and manage solar installations to increase efficiency and reduce the operational costs will accelerate the business trends.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

Asia Pacific market for solar tracker systems was reached USD 32.2 billion in 2023 and is expected to register 3.8% CAGR from 2024 to 2032, owing to the growing concerns regarding climate change and air pollution along with continuous decline in the cost of solar photovoltaic technology worldwide.

Asia Pacific solar tracker systems market from the single axis solar tracker segment is expected to exceed USD 22.5 billion by 2032 due to their ability to offer improved energy yield and maximizing electricity generation.

Australia solar tracker industry is expected to cross USD 600 million by 2032 due to increasing collaboration and partnerships between tracker manufacturers, solar developers, EPC contractors, and technology providers in the region.

Antaisolar, ArcelorMittal, Arctech Solar, Array Technologies, Inc., GameChange Solar, Haosolar Co. Ltd, Nextracker Inc., PVHardware, Scorpius Trackers, SOLTEC, SunPower Corporation, and Trina Solar, are some of the major solar tracker companies in Asia Pacific.