|
Forecast
Period
|
2024-2028
|
|
Market
Size (2022)
|
USD
7.8 Billion
|
|
CAGR
(2023-2028)
|
6.2%
|
|
Fastest
Growing Segment
|
Single
Axis
|
|
Largest
Market
|
Europe
|
Market Overview
Global
Solar Tracker for Power Generation Market was valued at USD 7.8 Billion in 2022
and is anticipated to project robust growth in the forecast period with a CAGR
of 6.2 % through 2028. The rising trend of carbon emissions is driving the
global demand for green and clean energy. According to the fast carbon
analysis, the UK government plans to generate almost half of its electricity
from renewable sources by 2025. Additionally, the market is expanding due to
the rising investments in green energy initiatives. As a result, the global
market for solar tracker for power generation is expanding due to the increase
in demand for green energy. A fixed PV panel arrangement costs 50% more than a
single-axis solar tracker, increasing capacity by 25% to 35%. Its
straightforward construction has a quicker payback period and delivers the
highest PV panel placement per square density. At the moment, horizontal
single-axis trackers (HSAT) are the most popular option for trackers since they
can offer 20–30% more energy without the additional expense and complexity of
dual–axis tracking systems. Additionally, the cost of single-axis tracking
systems is declining, which is increasing the demand for single-axis tracking
systems largely, thus boosting the overall demand for the solar tracker for
power generation market.
Furthermore the factors such as the
environmental degradation coupled with the rising fuel prices will drive
industry growth. Moreover, the public awareness of the benefits of renewable
energy along with the numerous favorable government policies that promote solar
energy projects also accelerates the market growth.
Key Market Drivers
Solar
energy is one of the most promising and rapidly growing sources of clean and
renewable energy in the world. To harness the maximum potential of solar power,
solar tracking systems have become essential components of solar power plants.
These tracking systems are used to orient solar panels or photovoltaic modules
to follow the path of the sun, ensuring they capture the maximum amount of
sunlight throughout the day. This technology has given rise to the global solar
tracker market, which plays a pivotal role in the advancement of solar power
generation.
Understanding
Solar Trackers
Solar
trackers are devices that enable solar panels to follow the sun as it moves
across the sky, optimizing the angle of incidence of sunlight and increasing
the energy output of photovoltaic systems. There are primarily two types of
solar trackers: single-axis and dual-axis.
Single-Axis
Trackers: These trackers move along a single axis, usually from east to west.
They adjust the tilt of solar panels to follow the sun's path throughout the
day. Single-axis trackers are simpler and more cost-effective than dual-axis
trackers.
Dual-Axis
Trackers: These trackers move along both horizontal (east to west) and vertical
(up and down) axes. This allows solar panels to follow the sun's daily and
seasonal variations, optimizing energy capture.
Importance
of Solar Trackers
The
role of solar trackers is crucial in enhancing the efficiency of solar power
generation. Solar panels are most effective when they are directly facing the
sun. As the sun's position changes throughout the day and seasons, a fixed,
non-tracking solar panel will not receive sunlight optimally. Solar trackers
address this limitation by continuously adjusting the orientation of panels to
maximize energy production.
Global
Solar Tracker Market Overview
The
global solar tracker market has been experiencing remarkable growth in recent
years. Several key factors contribute to this expansion:
Increasing
Solar Installations: As the world seeks to transition to cleaner energy
sources, there has been a significant increase in solar installations, both for
utility-scale and distributed solar power generation.
Efficiency
Improvements: Solar trackers substantially enhance the efficiency of solar
panels, leading to greater energy production and making solar energy more
cost-effective.
Falling
Costs: With advancements in technology and economies of scale, the cost of
solar trackers has been decreasing, further driving their adoption.
Government
Incentives: Many governments around the world offer incentives, tax credits,
and subsidies to promote the use of solar energy, incentivizing the
installation of solar trackers.
Solar
Tracker Drives in Power Generation
Drives
are essential components in solar tracking systems. They are responsible for
the movement and positioning of solar panels in response to the sun's path.
There are various drive mechanisms employed in solar tracking systems:
Hydraulic
Drives: These drives use hydraulic fluid to move the solar panels. Hydraulic
drives are known for their high precision and reliability but can be relatively
expensive to install and maintain.
Electric
Drives: Electric drives use electric motors to adjust the position of solar
panels. They are more cost-effective than hydraulic drives and are commonly
used in single-axis trackers.
Linear
Actuators: Linear actuators are used in many dual-axis trackers. They convert
rotary motion into linear motion, allowing precise control over panel
positioning.
Gear
Drives: Gear drives are a fundamental component of most tracking systems. They
allow for controlled rotation and alignment of the solar panels.
Advantages
of Solar Tracker Drives
The
integration of drives into solar tracking systems offers several advantages:
Increased
Energy Capture: Solar tracker drives ensure that solar panels are always
positioned optimally to capture sunlight, resulting in higher energy
production.
Precision
and Accuracy: Drives enable precise tracking, ensuring that solar panels are
aligned with the sun's position at all times. Depending on the type of drive
used, solar tracker systems can be reliable and require minimal maintenance.
Maximized
ROI: The enhanced energy production achieved with solar tracker drives often
results in a quicker return on investment for solar power plant operators.: Although
the cost of solar trackers has been decreasing, they still represent a
substantial initial investment, especially for large-scale projects. Some types
of solar tracker drives can be complex and may require regular maintenance,
adding to operational costs. The manufacturing and disposal of solar trackers,
as with any technology, have environmental impacts that need to be managed
responsibly. Solar trackers are exposed to the elements and must withstand
harsh weather conditions, which can pose challenges in terms of durability.
Future
Trends in the Solar Tracker Market
The
global solar tracker market is expected to continue evolving with several key
trends:
Advancements
in Technology: Ongoing advancements in solar tracker technology, including more
efficient drives and control systems, will further improve energy capture. The
integration of solar trackers with energy storage systems will allow for more
consistent and reliable power generation, even during periods of low sunlight.
Sustainability
and Recycling: As the industry matures, there will be a growing focus on
sustainability and responsible disposal or recycling of solar tracker
components. Emerging markets in Asia, Africa, and South America are expected to
drive significant growth in the solar tracker market as solar energy adoption
spreads.
In
conclusion, the global solar tracker market is a vital component of the solar
energy industry. It enables the efficient harnessing of solar power, making it
a more cost-effective and reliable source of renewable energy. Solar tracker
drives play a central role in ensuring that solar panels are continually
positioned for maximum sunlight capture. As technology advances and the
industry matures, the future of the solar tracker market looks promising,
contributing to a greener and more sustainable energy landscape worldwide.
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Key Market
Challenges
Solar
trackers have gained significant importance in enhancing the efficiency of
solar power generation. However, like any technology, the global solar tracker
market faces several challenges that impact its growth and adoption. In this
discussion, we will delve into these challenges, shedding light on the
obstacles and issues that the industry must address to continue its trajectory
of growth and sustainability.
Cost
and ROI Challenges
One
of the most significant challenges in the global solar tracker market is the
upfront cost associated with the installation of solar tracking systems. While
solar trackers can significantly increase energy yield by optimizing the
orientation of solar panels toward the sun, their initial cost can be a barrier
to adoption, especially for smaller solar projects or residential
installations.
Solar
tracker systems require additional components, such as motors, controllers, and
sensors, which add to the overall system cost. Moreover, the maintenance and
operational costs of solar trackers can be higher than fixed-tilt systems,
particularly if sophisticated drive mechanisms are used. These cost factors can
make it challenging for some investors or project developers to justify the
higher upfront investment.
However,
it's essential to consider the long-term benefits when evaluating the ROI of
solar trackers. Despite the initial cost, solar trackers can significantly
increase energy production, which, in turn, can result in a quicker payback
period and higher returns over the system's lifetime.
Maintenance
and Reliability
Solar
tracker systems are exposed to the elements, and they operate in outdoor
environments, which can expose them to wear and tear. The moving parts of solar
trackers, including the drives, motors, and sensors, are subject to mechanical
stress and require regular maintenance to ensure optimal performance.
Maintenance
can include lubrication, cleaning, and the replacement of worn components.
Failure to perform regular maintenance can lead to issues such as misalignment,
reduced energy capture, and, in some cases, complete system failure.
Moreover,
the reliability of solar tracker systems is critical. Unforeseen malfunctions
or system breakdowns can result in a loss of energy production and revenue. For
large utility-scale solar farms, system downtime can lead to substantial
financial losses.
To
address these challenges, manufacturers are working on designing more robust
and reliable solar tracker systems and implementing predictive maintenance
strategies to minimize downtime.
Environmental
Impact and Sustainability
The
solar energy industry, including solar tracker manufacturing and installation,
has an environmental footprint. The production of solar tracker components
involves the use of materials and energy, and the disposal of old or
non-functioning trackers can create waste.
To
mitigate the environmental impact, the solar industry is increasingly focusing
on sustainability and responsible disposal practices. This includes efforts to
reduce the carbon footprint of solar tracker production, as well as recycling
and repurposing components at the end of their operational life.
Harsh
Environmental Conditions
Solar
tracker systems are often deployed in regions with harsh environmental
conditions. They must withstand extreme temperatures, high winds, sandstorms,
and heavy rainfall. These conditions can take a toll on the durability and
performance of solar trackers.
Manufacturers
must design solar trackers that can withstand these conditions and operate
reliably in diverse environments. This often involves using corrosion-resistant
materials, durable drive mechanisms, and protective coatings.
Land Usage and Installation Challenges
Solar
trackers require more land area compared to fixed-tilt solar systems because
the tracking systems need space to move as they follow the sun's path. In
regions where land availability is limited or expensive, this can be a
significant challenge. Additionally, the installation process can be more
complex and time-consuming, further adding to the project's costs.
To
address this challenge, some solar projects employ dual-use strategies, where
the land used for solar tracking systems can also be used for agricultural or
grazing purposes. This approach aims to optimize land use and mitigate land
cost challenges.
Grid
Integration and Energy Storage
The
variable nature of solar energy production due to daily and seasonal variations
in sunlight can pose challenges for grid integration. Solar trackers can
exacerbate this challenge because they often result in more significant
fluctuations in energy output throughout the day.
Integrating
solar power with the grid effectively requires advanced grid management
systems, energy storage solutions, and demand-side management strategies. These
additional components add complexity and cost to solar projects.
To
address these issues, the industry is exploring various grid integration
technologies, such as advanced inverters, energy storage systems, and smart
grid solutions. These technologies can help balance the intermittency of solar
power and ensure a stable energy supply to the grid.
Regulatory
and Permitting Challenges
Solar
tracker projects can face regulatory and permitting challenges at the local,
state, or national level. Regulations related to land use, environmental impact
assessments, and grid connection can vary significantly from one region to
another, creating hurdles for project development.
Navigating
the permitting process and obtaining the necessary approvals can be
time-consuming and add uncertainty to project timelines and costs. Project
developers must work closely with regulatory authorities and engage in
comprehensive planning to address these challenges.
Global
Supply Chain Issues
The
solar tracker market, like many industries, can be affected by global supply
chain disruptions. Events such as the COVID-19 pandemic highlighted the
vulnerabilities in supply chains for renewable energy components, including
solar trackers.
Supply
chain challenges can lead to delays in project timelines, increased costs, and
uncertainty in the availability of critical components. Manufacturers and
project developers must diversify supply sources, maintain strategic
inventories, and explore alternative supply chain strategies to mitigate these
challenges.
Technological
Advancements and Competition
While
technological advancements are generally positive, they can pose challenges in
the solar tracker market. As new technologies emerge and existing systems
become obsolete, project developers must carefully consider the timing of their
investments to ensure that their systems remain competitive and cost-effective.
Moreover,
the rapidly evolving landscape of solar tracker technology can make it
challenging for investors to select the most suitable system for their
projects. Comparing the performance, cost, and reliability of different
technologies can be complex.
Geopolitical
and Trade Issues
Geopolitical
factors, trade disputes, and tariffs can impact the availability and cost of
solar tracker components, as well as project financing. Trade barriers and
disputes can disrupt the flow of materials and technology, affecting the global
solar tracker market.
To
address this challenge, the industry may need to adapt and diversify its supply
chain, invest in local manufacturing capabilities, and navigate the complex
landscape of global trade policies.
In
conclusion, the global solar tracker market has made significant strides in
enhancing the efficiency of solar power generation. However, it faces various
challenges related to cost, maintenance, environmental impact, and regulatory
issues. Mitigating these challenges requires ongoing innovation, investment in
research and development, and a collaborative effort among industry
stakeholders to continue advancing solar tracker technology while ensuring its
sustainability and environmental responsibility. As the solar industry grows
and matures, addressing these challenges will be critical to its long-term
success and its role in the transition to clean and renewable energy sources.
Key Market Trends
Increased
Market Growth and Solar Capacity Expansion
The
global solar tracker market has been experiencing significant growth in recent
years. One of the primary trends in this market is the continued expansion of
solar capacity. Governments, businesses, and consumers worldwide are
increasingly adopting solar energy as a clean and sustainable power source. As
a result, solar installations, both for utility-scale projects and distributed
solar generation, are on the rise.
Utility-scale
solar farms are becoming larger and more common, often employing solar trackers
to maximize energy yield. Solar power generation capacity is increasing in
regions around the world, including North America, Europe, Asia, and Africa.
This growth is being driven by a combination of falling solar equipment costs,
supportive policies and incentives, and the increasing focus on reducing
greenhouse gas emissions.
Advancements
in Tracking Technology
Solar
tracker technology has evolved significantly in recent years. Continuous
advancements in tracking mechanisms and control systems have improved the
efficiency of solar power generation. The following are key advancements and
trends in tracking technology:
a.
Single-Axis and Dual-Axis Trackers: Single-axis and dual-axis trackers are
common in the solar tracker market. Single-axis trackers follow the sun's path
from east to west, adjusting the tilt of solar panels to optimize energy
capture. Dual-axis trackers add vertical movement, enabling solar panels to
track the sun's daily and seasonal variations, further enhancing energy
production.
b.
High Precision Tracking: Modern tracking systems are designed to be highly
precise, ensuring that solar panels remain optimally aligned with the sun's
position throughout the day. This precision has a significant impact on energy
capture.
c.
Smart Tracking Control: Some solar trackers employ smart control systems that
incorporate weather forecasts, sunlight data, and other factors to make
real-time adjustments for optimal positioning. These systems can improve energy
yield and reduce wear and tear on the tracking mechanism.
d.
Bifacial Panels: The use of bifacial solar panels, which can capture sunlight
from both sides, has gained momentum. Solar trackers are well-suited for
bifacial panels, as they can optimize sunlight capture from both directions.
e.
Floating Solar Trackers: In addition to land-based solar trackers, there is
growing interest in floating solar platforms with tracking capabilities. These
systems are deployed on bodies of water and can provide efficient land use and
cooling effects on solar panels, increasing their efficiency.
Sustainable
Manufacturing and Materials
The
solar industry is increasingly focused on sustainability and reducing its
environmental footprint. This trend extends to the manufacturing and materials
used in solar trackers. Key elements of this trend include: Recycled Materials:
Manufacturers are exploring the use of recycled and sustainable materials for
solar tracker components to reduce their environmental impact. Low-Impact
Manufacturing: The production processes for solar trackers are being optimized
to minimize energy consumption and reduce waste. Additionally, manufacturers
are increasingly using clean energy sources for their operations.
End-of-Life
Considerations: As solar trackers have a lifespan of decades, there is a
growing focus on recycling and reusing components at the end of their
operational life. This approach minimizes waste and environmental impact.
Hybrid
and Multi-Technology Solar Farms
Solar
farms are not limited to solar panels alone; many are incorporating hybrid
technologies and diverse energy sources. Two significant trends in this area
include:
Solar-Wind
Hybrid Projects: Some solar farms are being combined with wind turbines to
create hybrid projects. These projects can capture energy from both solar and
wind sources, providing more consistent power generation. The integration of
energy storage solutions, such as batteries, with solar trackers is becoming
more common. Energy storage allows for the capture and storage of excess energy
during the day and its use during the night or on cloudy days, ensuring a
stable power supply.
Emerging
Markets and Off-Grid Solutions
While
established markets like North America and Europe continue to grow, emerging
markets in Asia, Africa, and South America are also contributing to the global
solar tracker market's expansion. Some notable trends in these regions include:
In regions with unreliable or no access to the grid, off-grid solar
installations are on the rise. Solar trackers can optimize energy capture for
these installations, providing a reliable source of power for remote
communities and industries. Mini-grids, which are smaller-scale, localized
electricity distribution networks, are being developed in many off-grid areas.
Solar trackers can enhance the efficiency and reliability of mini-grid systems.
Distributed solar generation, often found on residential and commercial rooftops,
is a growing trend in urban areas. While these installations typically do not
use solar trackers due to space constraints, innovations in panel design and
tracking technology may enable more efficient urban solar installations in the
future.
6.
Digitalization and Data Analytics
Digitalization
and data analytics are increasingly important in the solar tracker market. This
includes the use of IoT (Internet of Things) sensors, data collection, and
analysis to optimize solar tracker performance and identify maintenance needs.
Predictive
Maintenance: Data analytics can help identify potential issues with solar
trackers before they cause system failures. This can reduce downtime and
maintenance costs.
Performance
Monitoring: Real-time monitoring of energy production and tracker efficiency
allows operators to make adjustments to maximize energy yield. Data analytics,
combined with weather forecasting, can improve the accuracy of solar tracker
positioning, optimizing energy capture.
Grid
Integration and Grid Services
Grid
integration is a crucial trend in the solar industry, with solar trackers
playing a role in providing grid services. Here are some key aspects of this
trend: Solar trackers can provide grid stability by responding to grid signals
to curtail or increase power production as needed, helping to balance the grid.
In some regions, solar farms with tracking systems are participating in
providing ancillary services, such as frequency regulation and voltage support
to the grid.
Market
Expansion and Global Collaboration
The
solar tracker market is witnessing expansion into new regions and a higher
level of global collaboration. This includes cross-border investments, joint
ventures, and partnerships between companies and governments.
Market
Entry in Developing Countries: As solar energy adoption spreads, many
developing countries are entering the solar tracker market. They often partner
with established companies to gain expertise and infrastructure. Policy
Collaboration: Governments are collaborating on policies to promote the use of
solar energy and encourage solar tracker adoption. International agreements and
incentives can facilitate market growth. International collaboration in
research and development is driving innovation in the solar tracker industry,
leading to more efficient and cost-effective solutions.
In
conclusion, the global solar tracker market is evolving rapidly, driven by the
increasing adoption of solar energy and technological advancements. Trends in
solar tracker technology, sustainability, grid integration, and global
expansion are shaping the industry's future. As solar power continues to play a
crucial role in the transition to clean and renewable energy sources, the solar
tracker market will likely see further developments and innovations in the
years ahead.
Segmental Insights
Products Insights
The
global solar tracker for power generation market is dominated by the
single-axis tracker segment. In 2021, the single-axis tracker segment accounted
for over 85% of the global market. This is due to a number of factors,
including: Single-axis trackers are less expensive than dual-axis trackers,
making them more affordable for solar developers. Single-axis trackers are also
simpler to design and install than dual-axis trackers. High efficiency:
Single-axis trackers can still generate a significant amount of additional
energy compared to fixed-tilt solar panels, even though they do not track the
sun as precisely as dual-axis trackers. The dual-axis tracker segment is
expected to grow at a faster rate than the single-axis tracker segment in the
coming years. This is due to a number of factors, including.
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Regional Insights
Europe dominates the solar tracker for
power generation market in terms of market share and market revenue and will
continue to flourish its dominance during the forecast period of 2022-2029. The
market growth over this region is attributed to the growing in investments
coupled with the promotion of power generation through renewable energy sources
by the governments within the region.
Asia-Pacific on the other hand, is
estimated to show lucrative growth over the forecast period of 2022-2029, due
to the high installations of solar tracker for power generation power in China.
Favorable government policies are also estimated to boost regional growth.
The country section of the report also
provides individual market impacting factors and changes in market regulation
that impact the current and future trends of the market. Data points like
down-stream and upstream value chain analysis, technical trends and porter's
five forces analysis, case studies are some of the pointers used to forecast
the market scenario for individual countries. Also, the presence and
availability of global brands and their challenges faced due to large or scarce
competition from local and domestic brands, impact of domestic tariffs and
trade routes are considered while providing forecast analysis of the country
data.
Recent Developments
- In
May 2021, GE Renewable Energy announced the completion of the Turbine Supply,
Service, and Warranty contracts for the Dogger Bank solar tracker for power
generation farm's third and final phase. The Turbine Supply Contract confirms
that GE Renewable Energy will supply 87 Haliade-X 14 MW solar tracker for power
generation turbines, marking the first commercial commitment for this
nameplate.
- In
May 2021, Siemens Gamesa has been confirmed as the preferred supplier for the
entire 1,044 MW Hai Long solar tracker for power generation project. Siemens
Gamesa Renewable Energy and customer Hai Long Solar tracker for power
generation Project (Hai Long) have expanded their strong collaboration to 1,044
MW.
- In
May 2020, Siemens Gamesa has installed the nacelle of its SG 14-222 DD solar
tracker for power generation turbine prototype at its test facility in sterild,
Denmark. The lightweight nacelle, weighing 500 tonnes, is said to allow Siemens
Gamesa to use a safer tower and foundation substructure than a heavier nacelle.
Key Market Players
- SunTegra Solar
- Ergosun
- CertainTeed
- Canadian Solar
- Ertex Solar
- FlexSol Solutions B.V
- Tesla
- Anu Solar Power Pvt Ltd
- PV Technical Services Inc.
- Sunflare
|
By Technology
|
By Type
|
By Products
|
By Region
|
|
- Concentrated PV Tracker
- Non-Concentrated PV Tracker
|
- Active Solar Tracker
- Passive Solar Tracker
|
- Single Axis
- Horizontal
- Vertical
- Polar Aligned
- Titled
- Double Axis
- Tip-Tilt
- Azimuth-Altitude
|
- North America
- Europe
- South America
- Middle East & Africa
- Asia Pacific
|
|
Report
Scope:
In
this report, the Global Solar Tracker for Power Generation Market has been
segmented into the following categories, in addition to the industry trends
which have also been detailed below:
- Global
Solar Tracker for Power Generation Market,
By Technology:
o
Concentrated
PV Tracker
o Non-Concentrated PV Tracker
- Global
Solar Tracker for Power Generation Market,
By Type:
o Active Solar Tracker
o
Passive
Solar Tracker
- Global Solar Tracker for Power
Generation Market,
By Products:
o Single Axis
o Horizontal
o Vertical
o Pola
o Aligned
o Titled
o Double Axis
o
Tip-Tilt
Azimuth-Altitude
- Global Solar Tracker for Power
Generation Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Asia-Pacific
§ China
§ India
§ Japan
§ South Korea
§ Indonesia
o Europe
§ Germany
§ United Kingdom
§ France
§ Russia
§ Spain
o South America
§ Brazil
§ Argentina
o Middle East & Africa
§ Saudi Arabia
§ South Africa
§ Egypt
§ UAE
§ Israel
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies presents in the Global Solar Tracker for Power
Generation Market.
Available
Customizations:
Global
Solar Tracker for Power Generation Market report with the given market data,
Tech Sci Research offers customizations according to a company's specific
needs. The following customization options are available for the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
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