Dual Axis Solar Tracker Market Analysis

Dual Axis Solar Tracker Market Analysis

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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.