Dual Axis Solar Trackers

Global Market Trajectory & Analytics

MCP11651

EXECUTIVE ENGAGEMENTS

POOL

416
Number of executives repeatedly engaged by snail & email outreach

INTERACTIONS

83
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PARTICIPANTS

17
Unique # Participated

VALIDATIONS

7
Responses Validated*

COMPANIES

78
Responses Validated*
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DATE

JAN 2021

TABLES

32

PAGES

209

EDITION

5

PRICE

USD 4950

CODE

MCP11651


COMPETITIVE METRICS

COMPANY

D S N T

% *

Abengoa Solar SA

AllEarth Renewables

Alpha Products, Inc. - Alpha Solar Divison

Aplicaciones de EnergA­as Sustitutivas S.L.

ArcelorMittal Projects Exosun

Arima Photovoltaic & Optical Corp.

Array Technologies, Inc.

Atlantic Clean Energy Supply LLC

Daqo Group Co., Ltd.

Dazzle Solar (Xiamen) Technology Co., Ltd.

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HIGHLIGHTS & REPORT INDEX

Global Dual Axis Solar Trackers Market to Reach $9.5 Billion by 2026

Dual axis solar trackers offer more benefits than the single-axis trackers. Solar panels could be oriented towards sun at all times, notwithstanding the time of the day and also the season, which maximizes the amount of energy produced by a solar power generation system. With dual axis trackers a solar energy project can produce around 45 percent more energy providing greater return on investment. Dual axis trackers follow sun more directly compared to single-axis trackers that follows the east-west path. While single-axis trackers follow sun across the horizontal plane, dual axis trackers tend to move in a circular and therefore a more direct path. These trackers employ GPS signals for determining their longitude and latitude and also date & time and use the information to know sun position at all times. They orient themselves to directly face the sun with the help of the hydraulic drive systems.

Amid the COVID-19 crisis, the global market for Dual Axis Solar Trackers estimated at US$4.2 Billion in the year 2020, is projected to reach a revised size of US$9.5 Billion by 2026, growing at a CAGR of 14.3% over the analysis period. Utility, one of the segments analyzed in the report, is projected to grow at a 14.6% CAGR to reach US$8.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Utility segment is readjusted to a revised 13.2% CAGR for the next 7-year period. This segment currently accounts for a 18.8% share of the global Dual Axis Solar Trackers market.

The U.S. Market is Estimated at $994.8 Million in 2021, While China is Forecast to Reach $1.8 Billion by 2026

The Dual Axis Solar Trackers market in the U.S. is estimated at US$994.8 Million in the year 2021. The country currently accounts for a 21.17% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$1.8 Billion in the year 2026 trailing a CAGR of 18.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.4% and 13% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.7% CAGR while Rest of European market (as defined in the study) will reach US$2.2 Billion by the close of the analysis period.

Urgent need for reducing power generation cost from renewables is fueling growth for dual axis tracker systems in solar power plants. By the year 2023, the installed capacity of dual axis solar trackers is anticipated to increase and reach 9500 MW. Development would be higher in the European and North American markets. In Europe, environmental norms and governmental regulations favor increased use of RE sources creating a strong demand growth scenario for solar trackers, especially the more advanced dual axis trackers. Many countries in the region also have plans in place to completely eliminate generation using conventional sources owing to growing environmental concerns. Awareness about the various benefits of RE is also higher in European countries, which is boosting growth for the solar power sector and thereby for the trackers market in the region. Europe is witnessing rapid development of solar projects, both rooftop installations and ground mounted systems. In North America, the US is the largest market for dual axis solar trackers. Supportive governmental norms are expected to fuel long term market growth in the country.

SELECT PLAYERS

Abengoa Solar S.A.; AllEarth Renewables, Inc.; Array Technologies, Inc.; DEGERenergie GmbH & Co. KG; Haosolar Co. Ltd.; Mechatron S.A.; NEXTracker Inc.; Shandong Huayue New Energy Co., Ltd.; STI Norland; Sun Action Trackers LLC

SEGMENTS

» Application (Utility, Non-Utility)

GEOGRAPHIES

» World » USA » Canada » Japan » China » Europe » France » Germany » Italy » UK » Rest of Europe » Asia-Pacific » Rest of World

TABLE OF CONTENTS

1. MARKET OVERVIEW
Impact of Covid-19 and a Looming Global Recession
EXHIBIT: COVID-19 Leaves the World in Shambles & Industries and Markets Upended: World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
Pandemic Impact on Solar Power Market
EXHIBIT: COVID-19 Impact on Solar Power Market: Solar PV Installed Capacity (in GW) in China for the Period Q1 2019 to Q1 2020
COVID-19 Pandemic Chokes Supply from China
EXHIBIT: Percentage of Companies Impacted by Supply Chain Delays Due to COVID-19 Worldwide as of August 2020
Impact of the COVID-19 Pandemic on the Global and Regional Solar Markets
Solar Trackers: A Prelude
Introduction to Dual Axis Solar Trackers
Rotation Axes
Application Markets
An Overview of the Solar Trackers Market
Global Market Prospects & Outlook for Dual Axis Solar Trackers
Utility Application Sector to Spearhead Market Growth
EXHIBIT: World Dual Axis Solar Trackers Market by Application (2020 & 2027): Percentage Breakdown of Sales for Utility and Non-Utility
Regional Analysis: Developed Regions Lead Dual Axis Solar Trackers Market, Developing Nations Promise Future Growth
EXHIBIT: World Dual Axis Solar Trackers Market by Region (2020 & 2027): Percentage Breakdown of Sales for Developed and Developing Regions
EXHIBIT: Global Dual Axis Solar Trackers Market: Geographic Regions Ranked by CAGR (Value) for 2020-2027: China, Asia-Pacific, Rest of World, USA, Canada, Europe, and Japan
Competitive Scenario
Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Increasing Solar Power Capacity Augurs Well for Market Expansion
EXHIBIT: Top 10 Countries Worldwide by Annual PV Installed Capacity (2019)
EXHIBIT: Top 10 Countries Worldwide by Cumulative PV Installed Capacity in GW (2019)
EXHIBIT: Global Cumulative PV Installation by Region/Country for 2019
EXHIBIT: Solar PV Capacity Additions (in GW) by Sector for China, Europe, USA and India: 2019
Rising Global Electricity Demand Creates Conducive Environment for Solar Power Industry
EXHIBIT: Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
EXHIBIT: Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
EXHIBIT: Global Energy Consumption (in Billion toe) by Country/Region (1995, 2017 and 2040)
EXHIBIT: Estimated Global Power Generation Infrastructure Requirement (in US$ Billion) for China, India, Latin America, and North America over the Period 2010-2030
Emphasis on Renewable Energy Sources Bodes Well for the Market
Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries
EXHIBIT: Global CO2 Emissions: Percentage Breakdown of Volume Emissions by Fuel Type (2015, 2020, 2040 & 2050)
EXHIBIT: Global Investments (US$ Billion) in Renewable Energy by Source: 2018
EXHIBIT: Leading Countries with Renewable Energy as % of Total Energy
EXHIBIT: Targets for Electricity Production from Renewable Energy Sources in Select Countries
Government Boost to Solar Energy Adoption to Spur Market Momentum
Demographic Trends & Urbanization Drive Favor Growth
EXHIBIT: World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
EXHIBIT: Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
Non-Utility Segment Offers Robust Opportunities
Growing Opportunities in Utility Vertical
Uptrend in Commercial Solar Power Sector Enhances Demand
Technology Advancements & Innovations
4. GLOBAL MARKET PERSPECTIVE
World Current & Future Analysis for Dual Axis Solar Trackers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
World 7-Year Perspective for Dual Axis Solar Trackers by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2020 & 2027
World Current & Future Analysis for Utility by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
World 7-Year Perspective for Utility by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2020 & 2027
World Current & Future Analysis for Non-Utility by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
World 7-Year Perspective for Non-Utility by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2020 & 2027
UNITED STATES
The United States: A Key Market for Solar Modules and Trackers
EXHIBIT: Cumulative Installed Solar PV Capacity (in MWdc) in the US for Years 2014, 2017 and 2020
EXHIBIT: US Annual Solar PV Installations (in MWdc) for Years 2010, 2015 and 2020
EXHIBIT: Electricity Generating Capacity in the US: Percentage Breakdown of Annual Additions by Type for 2010, 2015 & 2020
COVID-19 Crisis Puts Tremendous Pressure on the US Solar Industry
Residential Segment Characterized by Continued Diversification
EXHIBIT: Residential Solar PV Installations (in MWdc) for Years 2015, 2020 and 2025
Utility Investments on Solar PV to Drive Dual Axis Solar Trackers Market
EXHIBIT: Utility Solar PV Installations (in MWdc) for Years 2015, 2020 and 2025
Corporate Procurement and Community Solar Model Amplify Non-Utility and Non-Residential Dual Axis Solar Trackers Market
EXHIBIT: Non-Residential Solar PV Installations (in MWdc) for Years 2015, 2020 and 2025
EXHIBIT: Corporate Solar Capacity in the US: Installed Capacity (in MW) for Select Companies in H1 2020
Falling Prices Accelerate Market Expansion of Solar Trackers
EXHIBIT: Solar PV Prices (in $/Watt) in the US for Years 2010 through 2020
EXHIBIT: Prices of Residential Solar PV System by Segment (in $/Watt) for 2014, 2017 and 2020
USA Current & Future Analysis for Dual Axis Solar Trackers by Application - Utility and Non-Utility - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
USA 7-Year Perspective for Dual Axis Solar Trackers by Application - Percentage Breakdown of Value Sales for Utility and Non-Utility for the Years 2020 & 2027
CANADA
Canada Current & Future Analysis for Dual Axis Solar Trackers by Application - Utility and Non-Utility - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
Canada 7-Year Perspective for Dual Axis Solar Trackers by Application - Percentage Breakdown of Value Sales for Utility and Non-Utility for the Years 2020 & 2027
JAPAN
Market Overview
EXHIBIT: Average Generation Costs of Residential Solar PVs and Average Residential Electricity Rates in Japan (JPY/kWh) (As of Aug 2020)
Japan Current & Future Analysis for Dual Axis Solar Trackers by Application - Utility and Non-Utility - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
Japan 7-Year Perspective for Dual Axis Solar Trackers by Application - Percentage Breakdown of Value Sales for Utility and Non-Utility for the Years 2020 & 2027
CHINA
China: Most Vibrant Market for Solar Modules and Trackers
EXHIBIT: China’s Solar Power Installed Capacity in GW for the Years 2019 and 2025
China Current & Future Analysis for Dual Axis Solar Trackers by Application - Utility and Non-Utility - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
China 7-Year Perspective for Dual Axis Solar Trackers by Application - Percentage Breakdown of Value Sales for Utility and Non-Utility for the Years 2020 & 2027
EUROPE
Market Overview
EXHIBIT: Cumulative Installed Solar PV Capacity (in GW) in EU for Years 2010, 2015, 2020, 2025 and 2030
EXHIBIT: Cumulative Grid-Connected PV Capacity (in GWp) in EU for Years 2010, 2015, and 2020
Favorable Policy Framework to Stimulate Adoption of PV Systems, Driving Demand for Solar Trackers
Europe Current & Future Analysis for Dual Axis Solar Trackers by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
Europe 7-Year Perspective for Dual Axis Solar Trackers by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2020 & 2027
Europe Current & Future Analysis for Dual Axis Solar Trackers by Application - Utility and Non-Utility - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
Europe 7-Year Perspective for Dual Axis Solar Trackers by Application - Percentage Breakdown of Value Sales for Utility and Non-Utility for the Years 2020 & 2027
FRANCE
France Current & Future Analysis for Dual Axis Solar Trackers by Application - Utility and Non-Utility - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
France 7-Year Perspective for Dual Axis Solar Trackers by Application - Percentage Breakdown of Value Sales for Utility and Non-Utility for the Years 2020 & 2027
GERMANY
Germany: A Prelude to the Solar Market
Germany Current & Future Analysis for Dual Axis Solar Trackers by Application - Utility and Non-Utility - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
Germany 7-Year Perspective for Dual Axis Solar Trackers by Application - Percentage Breakdown of Value Sales for Utility and Non-Utility for the Years 2020 & 2027
ITALY
Italy Current & Future Analysis for Dual Axis Solar Trackers by Application - Utility and Non-Utility - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
Italy 7-Year Perspective for Dual Axis Solar Trackers by Application - Percentage Breakdown of Value Sales for Utility and Non-Utility for the Years 2020 & 2027
UNITED KINGDOM
UK Current & Future Analysis for Dual Axis Solar Trackers by Application - Utility and Non-Utility - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
UK 7-Year Perspective for Dual Axis Solar Trackers by Application - Percentage Breakdown of Value Sales for Utility and Non-Utility for the Years 2020 & 2027
REST OF EUROPE
Rest of Europe Current & Future Analysis for Dual Axis Solar Trackers by Application - Utility and Non-Utility - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
Rest of Europe 7-Year Perspective for Dual Axis Solar Trackers by Application - Percentage Breakdown of Value Sales for Utility and Non-Utility for the Years 2020 & 2027
ASIA-PACIFIC
Asia-Pacific Leads Solar PV Installations, Driving Dual Axis Solar Trackers Market
Focus on Renewable Energy Mix and Favorable Government Policies Bodes Well for Market Growth
COVID-19 Impact on Indian Solar Industry
Lockdowns Help Produce More Solar Power
Asia-Pacific Current & Future Analysis for Dual Axis Solar Trackers by Application - Utility and Non-Utility - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
Asia-Pacific 7-Year Perspective for Dual Axis Solar Trackers by Application - Percentage Breakdown of Value Sales for Utility and Non-Utility for the Years 2020 & 2027
REST OF WORLD
Rest of World Current & Future Analysis for Dual Axis Solar Trackers by Application - Utility and Non-Utility - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
Rest of World 7-Year Perspective for Dual Axis Solar Trackers by Application - Percentage Breakdown of Value Sales for Utility and Non-Utility for the Years 2020 & 2027
Total Companies Profiled: 78

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