The global solar PV tracker market grew by 20% last year, and the US and Latin America remained the largest markets for tracker technology, according to a new report by Wood Mackenzie Power & Renewables.
“PV tracker shipments exceeded expectations and surpassed 20 gigawatts last year, with 36% year-over-year growth since 2017 in terms of shipments,” said Molly Cox, one of the authors of the report.
According to Wood Mackenzie, the new solar PV tracker leaderboard confirms the ongoing dominance of NEXTracker, which has more than twice the market share of its closest competitors globally. The tier under NEXTracker is crowded with ambitious tracker companies that currently rival each other in size, give or take a few percentage points.
Global PV Tracker Market Shares by Shipment, 2018 (MWdc)
Array Technologies claimed second place globally in 2018, as it did in 2017, while Arctech Solar now claims third. The report also notes that the shrinking vendor margins for PV tracking companies can make it difficult to achieve profitable growth. Yet market consolidation is expected to continue.
Latin America became the largest market for solar trackers in 2017 and remains so this year, with 5,851 megawatts in total shipments. The US is a close second. The major growth markets were the Middle East, which grew by 96%, and the continent of Australia, which grew by 74%.
PV trackers continue to be the fastest growing of all tracking segments and is expected to continue on an upward trajectory as the global solar market surpasses 100 gigawattsby the end of 2019.
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