Report Overview

United Kingdom Solar Tracker Market - Industry Trends & Forecast Report, 2029

United Kingdom solar tracker market size was estimated to be worth 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 a CAGR of 13.52% reaching a value of USD 600.71 million by 2029. Major growth factors for the United Kingdom solar tracker market include a stronger focus on renewable energy. One of the major drivers of the solar tracker market's growth is the sharp rise in the number of solar panel installations across the nation. Additionally, the market for solar trackers is growing as a result of the favorable government regulations and incentives that aid several solar energy projects.

United Kingdom Solar Tracker Market – Overview

With the use of a solar tracker, an item 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

Growth Drivers

Increasing Demand for Renewable Energy and Solar Power

From 2020, renewable energy has continued to be a key component of the strategy to reduce carbon emissions. In the UK, several programs offer financial support for renewable energy, encouraging technological advancement and wider adoption of renewables, which in turn leads to economies of scale and lower costs. Currently, renewables produce more than 20% of the electricity used in the country, and EU targets mean that this is likely to increase to 30% by 2020. With rising government investments in boosting the solar energy sector in the country, the demand for the solar tracker is projected to expand during the forecast period.

Restraints

Higher Cost and Complex Maintenance

Solar trackers are a little more expensive than their fixed counterparts since they are thought of as sophisticated systems with moving elements. In comparison to fixed systems, trackers need greater upkeep. The amount and frequency of maintenance depend on the kind and quality of the solar tracking device. The longevity and dependability of dual-axis solar trackers are lower. Additionally, these goods operate unreliably in cloudy or gloomy conditions.

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 forecast 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.

United Kingdom Solar Tracker Market

Segmental Coverage

United Kingdom Solar Tracker Market – By Product Type

Based on product type, the United Kingdom solar tracker market is split into single-axis solar trackers and dual-axis solar trackers segments. The dual-axis solar trackers segment accounts for a higher share in the United Kingdom solar tracker market. Due to their capacity to monitor the sun both horizontally and vertically, dual-axis trackers enable maximal absorption of the sun's rays. Compared to single-axis trackers, dual-axis trackers contribute to generating 8% to 10% more energy. However, single-axis solar trackers also cover a substantial market share.

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 segments. The PV solar trackers segment holds a higher market share. As PV technology tracker is easy to make, has affordable installation, and requires little 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 PV technology.

United Kingdom Solar Tracker Market – By End User

Based on the end user, the United Kingdom solar tracker market is segmented into solar power developers, EPC (engineering, procurement, and construction) contractors, homeowners, and government & public utilities. The government & public utilities segment accounts for the highest share of the United Kingdom solar tracker market. Solar trackers are registering traction in utility applications due to the growing demand for renewable energy sources and rising power costs. Additionally, favorable government initiatives to establish solar power plants for public spaces are also propelling the growth of the overall market.

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.

Scope of the Report

By Product Type

• Single-Axis Solar Trackers

• Dual-Axis Solar Trackers

By Technology

• Photovoltaic (PV) Solar Trackers

• Concentrated Solar Power (CSP) Trackers

By End Users

• Solar Power Developers

• EPC (Engineering, Procurement, and Construction) Contractors

• Homeowners

• Government & Public Utilities

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. United Kingdom Solar Tracker Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increasing demand for renewable energy and solar power in the United Kingdom
         2. Government support and incentives for solar energy projects
         3. Advancements in solar tracker technology, such as improved accuracy and efficiency
      2. Restraints
         1. Limited availability of suitable land for Solar Tracker systems
      3. Opportunities
         1. Development of new and innovative solar tracker products and solutions
         2. Collaborations and partnerships between companies in the solar energy and technology sectors
      4. Challenges
         1.  Potential negative environmental impacts of solar tracker systems, such as land use changes and visual impacts
   3. Technology Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. United Kingdom Solar Tracker Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share and Forecast
      1. By Product Type
         1. Single-Axis Solar Trackers
         2. Dual-Axis Solar Trackers
      2. By Technology
         1. Photovoltaic (PV) Solar Trackers
         2. Concentrated Solar Power (CSP) Trackers
      3. By End Users
         1. Solar Power Developers
         2. EPC (Engineering, Procurement, and Construction) Contractors
         3. Homeowners
         4. Government & Public Utilities
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. United Kingdom Solar Tracker Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid-19 on United Kingdom Solar Tracker Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Convert Energy
   2. Soltec
   3. Nclave Renewable SL
   4. Array Technologies, Inc.
   5. SunPower Corporation
   6. Scorpius Trackers
   7. Arctech Solar Holding Co. Ltd.
   8. AllEarth Renewables
   9. Solar FlexRack
   10. GameChange Solar
   11. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1.  Qualitative Research
      1.  Primary & Secondary Research
   2.  Quantitative Research
   3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
   4.  Breakdown of Primary Research Respondents, By Region
   5.  Assumptions & Limitations

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       United Kingdom Solar Tracker Segmentation

Figure 2       United Kingdom Solar Tracker Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       United Kingdom Solar Tracker Market Size, By Value (USD Million), 2019–2029

Figure 5       United Kingdom Solar Tracker Market Share, By Product Type, By Value, 2019–2029

Figure 6       United Kingdom Solar Tracker Market Share, By Technology, By Value, 2019–2029

Figure 7       United Kingdom Solar Tracker Market Share, By End Users, By Value, 2019–2029

List of Tables

Table 1        United Kingdom Solar Tracker Market Size, By Value (USD Million), 2019–2029

Table 2        United Kingdom Solar Tracker Market Size, By Product Type, By Value, 2019–2029

Table 3        United Kingdom Solar Tracker Market Size, By Technology, By Value, 2019–2029

Table 4        United Kingdom Solar Tracker Market Size, By End Users, By Value, 2019–2029

Table 5        Convert Energy Company Overview

Table 6        Convert Energy Financial Overview

Table 7        Soltec Company Overview

Table 8        Soltec Financial Overview

Table 9        Nclave Renewable SL Company Overview

Table 10      Nclave Renewable SL Financial Overview

Table 11      Array Technologies, Inc. Company Overview

Table 12      Array Technologies, Inc. Financial Overview

Table 13      SunPower Corporation Company Overview

Table 14      SunPower Corporation Financial Overview

Table 15      Scorpius Trackers Company Overview

Table 16      Scorpius Trackers Financial Overview

Table 17      Arctech Solar Holding Co. Ltd. Company Overview

Table 18      Arctech Solar Holding Co. Ltd. Financial Overview

Table 19      AllEarth Renewables Company Overview

Table 20      AllEarth Renewables Financial Overview

Table 21      Solar FlexRack Company Overview

Table 22      Solar FlexRack Financial Overview

Table 23      GameChange Solar

Table 24      GameChange Solar Financial Overview