Europe Dual Axis Solar Tracker Market Share, Trends and Future Outlook: SPER Market Research
A dual-axis solar tracker is a system used in solar energy installations to align solar panels or mirrors along two axes for maximum sunlight absorption. This tracker adjusts horizontally and vertically to face the sun’s position throughout the day, maximising energy capture. Solar trackers, which track the sun’s movement on two axes, can greatly boost the energy output of solar photovoltaic (PV) or concentrated solar power (CSP) systems as compared to fixed-tilt or single-axis tracking systems.
According to SPER market research, ‘Europe Dual Axis Solar Tracker Market Size- By Application – Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the Europe Dual Axis Solar Tracker Market is predicted to reach 3.24 billion by 2034 with a CAGR of 9.73%.
Drivers:
The increasing efficiency of solar energy systems is a fundamental industry driver. Dual-axis solar trackers optimise solar panel orientation throughout the day, significantly improving photovoltaic panel energy output. These sophisticated tracking systems are becoming more and more popular in industrial applications and large-scale solar farms as governments and energy firms move towards sustainable energy sources. Furthermore, it is anticipated that market adoption would increase due to favourable regulatory frameworks and the falling costs of solar technology.
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Restraints:
The high initial cost of installation and maintenance is one of the key obstacles facing the dual-axis solar tracker business. Dual-axis trackers are more costly to buy initially than single-axis and fixed-tilt trackers because they need more complex parts such motors, sensors, and control systems. Ongoing maintenance costs increase with increased mechanical action, causing it to degrade over time. In places prone to extreme weather conditions, operating reliability might also be an issue, needing increased investment in heavy-duty materials and strong tracking algorithms. In 2024, Germany is expected to lead the dual axis solar tracker market. Business growth will be aided by a growing emphasis on switching to a low-carbon energy system and increasing attention to renewable energy capacity expansion. Additionally, as corporate sustainability becomes more important, fossil fuel-based energy generation will be replaced more frequently, which will improve the industry’s scenario. Some of the key market players are Arctech Solar, Array Technologies, Inc, Mechatron Solar, and others.
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Europe Dual Axis Solar Tracker Market Share
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