North America Solar Tracker Market size crossed USD 2 Billion in 2020 and is poised to showcase around 4.8% CAGR from 2021 to 2027.
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The market growth is due to rising electricity demand and ongoing investments toward the deployment of renewable energy sources. Solar tracker is a device which adjust solar panel position according to sun’s direction. Declining component cost coupled with concerns for GHG emissions are few of the parameters fueling the product penetration. Moreover, frequent power outages along with lack of reliable grid infrastructure across countries in the region will further thrust the market deployment.
COVID-19 hindered the operations and development for various industries since 2019 and has impacted in delays across the timelines of several projects. Easing of lockdown protocol and mass vaccination programs with governmental efforts have a positive impact on the industry. Moreover, post-lockdown protocols will surge the renewable energy demand from the utilities side, thereby boosting the market growth.
North America Market, By Products
Dual axis based solar tracker segment will gain remarkable momentum during the forecast timeline on account of less solar availability in sub-tropical countries of North America. Better power durability and widespread application in distributed utility will provide positive drivers for product adoption. In addition, rising infrastructural investment, increasing energy security and electricity demand along with ongoing urbanization across Mexico will boost the market demand.
North America Market, By Technology
Increasing investments towards stabilization of peak power demand and growing deployment of renewable energy source like solar energy will boost the industry growth from grid services. International banking institutions funding and rising consumer awareness will fuel the market revenue. Moreover, escalating consumer awareness towards microgrid networks will propel the CSP based North America solar tracker market demand positively.
North America Market, By Application
Increasing requirement of power system flexibility on account of growing power failures and outages will drive the utilities to adapt more efficient & reliable solar tracker units. Ability to reduce the reliance on external transmission lines and restoration of power functions to a secondary power source are few of the prominent features offered by the technology leading to product adoption. Furthermore, longer lifespan, lower cost and high reliability index are the key advantages offered by these units which will positively propel the market size.
North America Market, By Country
Canada solar tracker market is poised to grow substantially between 2021 and 2027 owing to increasing industrial activity along with soaring electricity demand in the country. To fulfill the high electricity demand, new projects are being launched by the major solar players. For instance, by December 2024, solar tracker supplier Nextracker has won a contract to supply its products to an 465MW solar photovoltaic plant in Canada. Moreover, growing incomes and improving standards of living across the country will further enhance the electricity demand, propelling the solar tracker unit deployment across the nation.
Competitive Industry Landscape
Key manufacturers and developers in the North America solar tracker market are engaged in extensive R&D activities to develop improved technologies and gain a competitive edge over the other players. Major players across the industry includes, Nextracker, Soltec America LLP, Array Technologies, Inc, Nielsen-Kellerman Co., All Earth Renewables, Arctech, Optical Scientific Inc, Trina Solar, Campbell Scientific, In, and PVHardware among others.