Positive. The utility solar tracker market is expected to reach $34.6 billion by 2032.

From GlobeNewswire: 2024-09-24 03:00:00

The utility solar tracker market is expected to reach USD 34.6 billion by 2032 due to decreased costs of PV panels, making solar energy projects more economically feasible. The use of solar trackers enhances energy production by adjusting panel angles, maximizing efficiency and energy yields for large-scale deployments.

Harsh weather conditions pose challenges for solar trackers, leading to increased maintenance costs and operational difficulties. Mechanical wear and environmental factors can reduce efficiency and performance, requiring additional measures for protection. Weather-resistant designs are crucial for maintaining equipment and ensuring long-term functionality.

The dual-axis segment is projected to experience significant growth from 2024 to 2032, driven by the superior solar energy capture capabilities of these trackers. Dual-axis systems adjust both horizontally and vertically to track the sun’s movement accurately, optimizing energy output for large-scale solar projects seeking peak performance.

North America’s utility solar tracker market is set for substantial growth through 2032, fueled by environmental awareness, clean energy initiatives, and government support. Advances in solar tracker technology improve efficiency and reduce costs, making them attractive for expanding renewable energy capacity in the region.

Major players in the utility solar tracker market include FTC Solar, Trina Solar, Array Technologies, Inc., and others, driving innovation and competitiveness through collaborations and acquisitions. These strategic moves aim to enhance product portfolios, increase efficiency, and broaden market presence by offering comprehensive solar solutions integrated with innovative tracking features.



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