2022 Global Tracker Market

According to IHS Markit's- Global Tracker Market Report 2022, the main summary is as follows:
Primary information
1. In 2021, global tracker shipments were 51GW, up 12% year on year;
2. From 2022 to 2030, the cumulative construction scale of global trackers is 660GW, with a global market of 60 billion US dollars;
3. The main countries that use tracking brackets as the installation method of photovoltaic power plants are the United States, Brazil, Spain, and Australia; it is expected that in the Middle East market, such as Saudi Arabia, the United Arab Emirates and other parts of Europe, photovoltaic tracking brackets will usher in significant growth; Mainland China and India the utilization rate of tracking racks is on the rise, but at present it is still dominated by fixed racks;
4. Barriers to tracking in the global market include longer lead times, higher raw material prices, and local capacity constraints. Although the tracking bracket increases the annual power generation, compared with the fixed bracket, it requires higher system cost and operation and maintenance requirements, which is undoubtedly a big problem facing the developers;
5.With the increasing demand for clean energy, innovation in trackers and the popularity of double-sided components, trackers have expanded the global market. Some innovations in trackers (trackers adapted to complex terrain, pre-installed trackers) have increased the potential of tracking mounts and reduced development costs;
6. The global average selling price of trackers increased by 10% in 2022 compared to 2021. The global supply chain continues to face challenges due to the rising cost of global freight and commodities, including steel, due to the outbreak in China and the Russia-Ukraine war.
7. U.S.-based Nextracker and Array retain the top two vendor positions in 2021. The tracker market has experienced significant consolidation in 2022, with the three giants Nextracker, Array, and STI (acquired by Array) collectively accounting for more than 50% of the global tracker market.
Global Tracker Top 10
Top10 Supplier Headquarters Shipment GW Ratio %
1 Nextracker America 16.4 32
2 Array Technologies America 7.7 15
3 PV Hardware Spain 4.6 9
4 STI Norl and Spain 3.6 7
5 Sol tec Spain 3.1 6
6 Game Change Solar America 3.1 6
7 Arctech Solar China 2.6 5
8 FTC Solar America 2.0 4
9 Axial Structural Solutions Spain 1.5 3
10 Solar Steel Spain 1.0 2

*Source from IHS Market



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