Single-axis solar trackers increase energy capture by tracking the sun's movement along a single axis, usually east to west. In contrast to fixed-tilt systems, this dynamic adjustment allows solar panels to maintain a more ideal angle relative to the sun throughout the day. Single-axis trackers can considerably boost energy yield by continuously orienting the panels towards direct sunshine, frequently by 25-35%. While they are simpler to design and often less expensive than dual-axis trackers, they offer a significant gain in performance for utility-scale projects and big commercial installations.
According to SPER market research, ‘North America Single Axis Solar Tracker Market Size- By Product, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the North America Single Axis Solar Tracker Market is predicted to reach 6.22 billion by 2034 with a CAGR of 4.83%.
Drivers:
The single-axis solar PV tracker market is expected to grow significantly due to more solar installations, government support for clean energy, and better tracking technology. Key drivers include rising energy costs and environmental concerns, leading to more use of solar energy. Emerging markets with high solar potential and advanced tracking algorithms present opportunities. Current trends include the development of affordable, efficient trackers, the use of AI for optimization, and increasing demand for solar-plus-storage systems.
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Restraints:
Some prospective users may still find the initial costs of single-axis solar trackers prohibitive, even with the overall decrease in cost. Purchasing and installing tracking systems can come with a hefty upfront cost, particularly for small-scale and residential solar projects. Furthermore, the intricacy of these systems may lead to increased maintenance and installation expenses, which could put off consumers on a tight budget. Although this difficulty is somewhat alleviated by government grants and incentives, addressing the single-axis trackers' cost-effectiveness is still essential to guaranteeing its broad use.
In 2024, the U.S. single-axis solar tracker market is anticipated to dominate due to its rich solar resource areas and emphasis on environmental sustainability. Financial incentives, tax credits, and feed-in tariffs will boost growth in line with renewable energy goals. Additionally, distributed solar energy is advancing significantly, with its generation surpassing that of utility installations since 2010. The growth of this market is mainly driven by strong policies like the solar Investment Tax Credit (ITC), decreasing costs, and rising demand for clean electricity. Some of the key market players are Abengoa, Arctech Solar, Array Technologies, Inc, Ideematec, MECASOLAR, Nextracker Inc, SOLTEC, and others.
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North America Single Axis Solar Tracker Market Size
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