1. What is the projected Compound Annual Growth Rate (CAGR) of the U.S. Solar Tracker Market?
The projected CAGR is approximately 14.45%.
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U.S. Solar Tracker MarketU.S. Solar Tracker Market by Type (Photovoltaic (PV), by Movement (Single Axis, Dual Axis), by Application (Utility, Non-utility), by Forecast 2026-2034
The U.S. Solar Tracker Market size was valued at USD 3.36 USD Billion in 2023 and is projected to reach USD 8.64 USD Billion by 2032, exhibiting a CAGR of 14.45 % during the forecast period. A solar tracking system is a device that works to track the movement of the sun in order to ensure that the systems in place such as solar panels or mirrored glass are facing the sun for maximum energy capture. It is mainly used in photovoltaic (PV)systems and concentrated solar power (CSP) plants. Solar trackers come in two main types, single-axis tracker and dual-axis tracker. In single-axis tracker, the panels of the solar panels can move in one direction only, usually horizontal to track the movement of the sun. The benefits of solar trackers are that they are more effective than fixed-tilt systems given that they may change positions to enhance light collectiveness throughout the day. Recently, the U. S. market has observed quite a boost in the utilization rates of solar trackers since the consideration of these factors helps increase the effectiveness of solar power systems. It is a concerning trend that also represents an increasing focus on getting the most out of renewable power, as well as on the financial performance of the solar power plants in the country.
By Type:
By Movement:
By Application:
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 14.45% from 2020-2034 |
| Segmentation |
|
Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 14.45%.
Key companies in the market include NEXTracker (U.S.), Array Technologies (U.S.), SunPower Corporation (U.S.), Arctech Solar (U.S.), OTT HydroMet B.V. (Netherlands), Sun Action Trackers (U.S.), Trina Solar (China), Soltec (Spain), Solar Steel (Spain), PV Hardware (Spain).
The market segments include Type, Movement, Application.
The market size is estimated to be USD 3.36 USD Billion as of 2022.
Growing Focus on Safety and Organization to Fuel Market Growth.
Growth of IT Infrastructure to Bolster the Demand for Modern Cable Tray Management Solutions.
High Initial Investment to Hamper Market Growth.
July 2023: Array Technologies, a U.S.-based supplier of trackers, has entered into a partnership with Lock Joint Tube, a producer of mechanical-grade steel, to ensure a consistent supply of steel from a mill in Texas dedicated to manufacturing solar tubing. Lock Joint Tube is a provider of steel tubing solutions for solar panels and manufactures utility-scale solar tubing.
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The market size is provided in terms of value, measured in USD Billion and volume, measured in Thousand Units.
Yes, the market keyword associated with the report is "U.S. Solar Tracker Market," which aids in identifying and referencing the specific market segment covered.
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