Dual Axis Solar Tracker Market Size

Dual Axis Solar Tracker Market Size

Dual Axis Solar Tracker Market size surpassed USD 7.5 billion in 2022 and is projected to grow at 6.5% CAGR from 2023 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.