Global PV Tracker Market Surges 28% in 2023
- Global PV tracker market surges in 2023, with Nextracker Inc and Array Technologies leading the way. US and Spain top markets, while China sees decline.
Global shipments of photovoltaic (PV) trackers grew by 28% in 2023, reaching 92 GW DC, with the top 10 suppliers representing 90% of the market. Nextracker Inc and Array Technologies maintained their leading positions, while GameChange Solar saw 55% growth and moved into third place. The US was the largest PV tracker market, with shipments rising by 10% year-over-year to over 37 GW DC.
In Europe, Spain was the largest market, with PV Hardware leading shipments. The PV tracker market in China declined to 4.3 GW DC in 2023, with demand for fixed-tilt products outweighing that for trackers. TrinaTracker and Arctech managed to rise in the rankings by expanding their presence in other regions.
Overall, the global PV tracker market saw significant growth in 2023, driven by strong utility-scale solar performance in most regions. The top 10 suppliers, including Nextracker Inc and Array Technologies, dominated the market, with the US leading in shipments. Spain was the largest European market, while China saw a decline in tracker demand.
What factors drove the 28% growth in global PV tracker shipments in 2023?
- Strong performance of utility-scale solar projects in most regions drove the growth in global PV tracker shipments
- Increasing demand for renewable energy sources and government incentives for solar power installations
- Technological advancements in PV tracker systems, making them more efficient and cost-effective
- Growing awareness of the benefits of using PV trackers, such as increased energy production and reduced maintenance costs
- Expansion of leading PV tracker suppliers like Nextracker Inc, Array Technologies, GameChange Solar, TrinaTracker, and Arctech into new markets and regions
