What is Global PV Tracking Bracket Market?
The Global PV Tracking Bracket Market is a sector that focuses on the production and distribution of photovoltaic (PV) tracking brackets. These brackets are essential components in solar panel installations, allowing the panels to move and follow the sun's path throughout the day, thereby maximizing energy production. The market is global in nature, encompassing manufacturers, distributors, and consumers from all corners of the world. As of 2023, the market was valued at a substantial US$ 35060 million, indicating the high demand and widespread use of PV tracking brackets. The market is expected to grow even further, with projections estimating a value of US$ 77230 million by 2030. This represents a compound annual growth rate (CAGR) of 11.8% during the forecast period from 2024 to 2030.
Single Axis PV Tracking Bracket, Dual Axis PV Tracking Bracket in the Global PV Tracking Bracket Market:
The Global PV Tracking Bracket Market is divided into two main product types: Single Axis PV Tracking Brackets and Dual Axis PV Tracking Brackets. Single Axis brackets allow solar panels to move along one axis, typically from east to west, following the sun's path throughout the day. This type of bracket is simpler in design and generally more affordable, making it a popular choice for many solar installations. On the other hand, Dual Axis brackets allow solar panels to move along two axes, both horizontally and vertically. This enables the panels to track the sun's path more accurately, resulting in higher energy production. However, these brackets are more complex and costly. Despite the differences, both types of brackets play a crucial role in the market, catering to different needs and preferences of consumers.
Industrial and Commercial Roof, Ground Power Station in the Global PV Tracking Bracket Market:
The Global PV Tracking Bracket Market serves a wide range of applications, particularly in the areas of Industrial and Commercial Roof and Ground Power Station. In the industrial and commercial roof sector, PV tracking brackets are used to mount solar panels on rooftops of factories, warehouses, offices, and other commercial buildings. These installations not only provide a sustainable source of energy but also help businesses reduce their carbon footprint and energy costs. In the ground power station sector, PV tracking brackets are used in large-scale solar farms. These farms generate massive amounts of solar energy, which is then fed into the grid and distributed to various consumers. The use of PV tracking brackets in these applications is crucial as it allows the solar panels to capture as much sunlight as possible, thereby maximizing energy production.
Global PV Tracking Bracket Market Outlook:
Looking at the market outlook, the Global PV Tracking Bracket Market is set for significant growth. In 2023, the market was valued at US$ 35060 million and is projected to almost double, reaching US$ 77230 million by 2030. This growth represents a compound annual growth rate (CAGR) of 11.8% from 2024 to 2030. The market is dominated by the top four PV Tracking Bracket players, who collectively hold approximately 54% of the total market share. In terms of consumption, Europe leads the way, accounting for about 33% of the global market. North America and India follow closely behind. These figures highlight the robust demand for PV Tracking Brackets and the market's potential for further growth.
| Report Metric | Details |
| Report Name | PV Tracking Bracket Market |
| Accounted market size in 2023 | US$ 35060 million |
| Forecasted market size in 2030 | US$ 77230 million |
| CAGR | 11.8% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Nextracker, Array Technologies, Arctech Solar, Soltec, JiangSu Zhenjiang NewEnergy Equipment Co., Ltd., Trina Solar, FTC Solar, Convert Italia, GameChange Solar, Gibraltar Industries, Ideematec, ATEC Energy&Environment Co., LTD., ArcelorMittal (Exosun), Akcome, Versolsolar Hangzhou Co., Ltd., Suzhou KINGSUN Solar Technology Co., Ltd., Jsolar, Clenergy, Jiangsu Guoqiang (Holdings) Group |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
