United Kingdom Solar Tracker Market Size Booming to Touch USD 600.71 Million by 2029

Published | 12 April 2023

United Kingdom solar tracker market is gaining traction because of the increasing demand for renewable energy and solar power in the United Kingdom and government support and incentives for solar energy projects.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the United Kingdom solar tracker market size at USD 248.56 million in 2022. During the forecast period between 2023 and 2029, the United Kingdom solar tracker market size is projected to grow at an impressive CAGR of 13.52% reaching a value of USD 600.71 million by 2029. An increasing emphasis on renewable energy is among the key driving factors for the United Kingdom solar tracker market. The rapidly increasing number of solar panel installations across the country is one of the key factors fueling the growth of the solar tracker market. As favorable government policies and subsidies support numerous solar energy projects, the market for solar trackers in the United Kingdom is expanding.

United Kingdom Solar Tracker Market – Overview

With the use of a solar tracker, a panel is positioned at an angle with the Sun. The two most frequent uses of solar trackers are for placing space telescopes to identify the direction of the Sun and for positioning photovoltaic (PV) panels (solar panels) so that they remain perpendicular to the Sun's beams. The solar energy collector receives more solar energy when solar trackers are used, which boosts the energy output of the heat/electricity produced. The output of solar panels may be increased by 20–30% with solar trackers, which boosts the project's profitability.

United Kingdom Solar Tracker Market – By Technology

Based on technology, the United Kingdom solar tracker market is segmented into photovoltaic (PV) solar trackers and concentrated solar power (CSP) trackers. Photovoltaic (PV) solar trackers hold a higher market share. As photovoltaic technology tracker is easy to make, has affordable installation, and requires low maintenance, it is favored by the United Kingdom market. PV trackers can dilute light that is absorbed by the sun and take direct sunlight. These features raise the market need for solar trackers based on photovoltaic technology.

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Impact of COVID-19 on the United Kingdom Solar Tracker Market

The market for solar trackers in the United Kingdom suffered from the unprecedented COVID-19 pandemic. The country's solar energy projects were directly suspended as a result of the rising number of coronavirus infections, which also caused a large fall in the market for solar trackers. The United Kingdom is also directly dependent on imports from China and India for solar tracker equipment, which also leads to huge losses to the market. On the plus side, sales of solar trackers for power generation are predicted to rise in the coming years as a result of factors including supportive government regulations and measures to meet rising energy demand using renewable energy sources.

Competitive Landscape

Major players operating in the United Kingdom solar tracker market include Convert Energy, Soltec, Nclave Renewable SL, Array Technologies, Inc., SunPower Corporation, Scorpius Trackers, Arctech Solar Holding Co. Ltd., AllEarth Renewables, Solar FlexRack, and GameChange Solar.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the United Kingdom Solar Tracker Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the United Kingdom Solar Tracker Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the United Kingdom Solar Tracker Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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