According to a new report by Expert Market Research titled, “Global Dual-Axis Solar Tracker Market Share, Size, Report and Forecast 2024-2032″, the global dual-axis solar tracker market size is projected to grow at a CAGR of 15% between 2024 and 2032. Aided by advancements in solar technologies, including CSP and CPV, and increasing component production scale, the market is expected to grow significantly by 2032.
Dual-axis solar trackers are advanced mechanisms that align solar panels or modules to the sun, moving on two axes, both vertically and horizontally, to ensure maximum solar energy absorption. This technology is used for enhancing the efficiency of solar energy systems by capturing maximum sunlight throughout the day. Beyond the immediate advantages in solar energy harvesting, dual-axis trackers are renowned for their durability, precision, and adaptability, marking them out as the preferred choice in several large-scale solar projects.
The dual-axis solar tracker market growth is aided by the escalating global focus on renewable energy sources as a substitute for fossil fuels. As nations pledge to cut down their carbon footprint and transition to sustainable energy solutions, solar energy has emerged as a solution of this movement. Further, tools and technologies that enhance the efficiency of solar power generation have gained significant attention, with dual-axis solar trackers leading the charge.
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One of the significant dual-axis solar tracker market trends is the growing shift towards the integration of advanced sensors and artificial intelligence in the trackers. Such cutting-edge incorporations enable real-time adjustments to weather changes and ensure optimal alignment to the sun’s position, thereby maximising energy capture. This progressive trajectory towards technologically enhanced trackers is anticipated to further boost the market’s expansion in the forthcoming years.
The multifaceted applications of dual-axis solar trackers also substantially contribute to the growing dual-axis solar tracker market size. They have become essential in solar farms, commercial establishments, and utility-scale solar projects. The benefit they offer in terms of energy efficiency as compared to their single-axis counterparts makes them a prominent choice for projects aiming for heightened energy outputs.
Furthermore, a deep dual-axis solar tracker market analysis highlights a shift towards tracker systems that are compatible with bifacial solar panels. Bifacial panels, capable of capturing sunlight from both sides, when combined with dual-axis trackers is, offers unparalleled energy generation efficiency. As the adoption of bifacial panels proliferates, the demand for compatible dual-axis trackers is set to rise correspondingly.
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Market Segmentation
The market can be divided based on application and region.
Market Breakup by Application
• Utility
• Non-Utility
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global dual-axis solar tracker market. Some of the major players explored in the report by Expert Market Research are as follows:
• AllEarth Renewables, Inc.
• Degerenergie GmbH & Co. KG
• Mechatron Solar
• Haosolar Co. Ltd
• InfiniteERCAM SA
• Others
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