Competitive landscape of photovoltaic tracking brackets


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6 FAQs about [Competitive landscape of photovoltaic tracking brackets]

What is the competitive landscape of the solar tracker market?

The competitive landscape of this market depicts market dominance by major solar trackers manufacturers such as NEXTracker, PV Hardware, Array Technologies, and Soltec. NEXTracker has the maximum share in the global market, acquiring contracts from different countries in every region.

How big is the solar tracker market?

The Solar Tracker market in the U.S. is projected to grow significantly, reaching an estimated value of USD 9.58 billion by 2032, driven by federal and state policies, incentives, and regulatory support encouraging renewable energy adoption. North America dominated the solar tracker market with a market share of 56.85 % in 2023.

How will solar trackers impact the global market?

In North America, the U.S., with the maximum deployment of solar trackers for operational efficiency of the installed panels, will aid the demand for products across the region, resulting in North America holding the lead position in the global market during the forecast timeframe.

How is solar market segmented?

The market is segmented into utility and non-utility in terms of application. The utility segment is expected to lead the market due to rising solar grid integrations that have become common in many countries. The standalone systems and the rooftop solar installation are found to have fixed-tilt, eliminating trackers.

Which country dominated the solar tracker market in 2023?

North America dominated the solar tracker market with a market share of 56.85 % in 2023. A solar tracker is a system that positions an object at an angle relative to the sun.

What are the different types of solar tracking systems?

According to movement, solar tracking approaches two basic types, single axis and dual axis trackers. The most common are single-axis tracking systems. Trackers with a single axis tracking system follow the sun's trajectories by moving in one axis, most commonly in the east-west direction.

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