Solar PV Tracker Market size is estimated to be USD 6.45 Billion in 2024 and is expected to reach USD 15.76 Billion by 2033 at a CAGR of 10.4% from 2026 to 2033.
South Korea's solar PV tracker market is experiencing significant growth, driven by government initiatives and technological advancements. The country's commitment to renewable energy, aiming for a 20% share by 2030, has spurred the adoption of solar PV trackers across various industries.
Types of Solar PV Trackers:
Single-Axis Trackers: These trackers rotate on one axis, typically aligned with the sun's movement from east to west. They are widely used in large-scale solar farms due to their cost-effectiveness and efficiency improvements of up to 25%.
Dual-Axis Trackers: Offering rotation on both horizontal and vertical axes, these trackers maximize solar energy capture, increasing efficiency by up to 35%. They are ideal for regions with high solar irradiance and are increasingly adopted in South Korea's utility-scale projects.
Passive Trackers: Utilizing the sun's heat to move the panels, passive trackers are less complex and require minimal maintenance, making them suitable for smaller installations.
Active Trackers: Powered by motors and sensors, active trackers provide precise alignment with the sun, enhancing energy output. They are commonly used in commercial and industrial applications.
Industry Requirements:
Manufacturing Sector: With South Korea's robust manufacturing industry, there is a high demand for reliable and efficient energy sources. Solar PV trackers provide a sustainable solution, reducing energy costs and carbon footprint.
Commercial Buildings: Businesses seek to meet green building standards and reduce operational costs. Integrating solar PV trackers into building designs supports these objectives.
Residential Areas: The government's subsidies and incentives encourage homeowners to adopt solar energy solutions. Trackers enhance the efficiency of residential solar panels, making them more attractive to consumers.
Agricultural Sector: Farmers utilize solar PV trackers to power irrigation systems and other equipment, promoting sustainable farming practices.
South Korea's focus on innovation and sustainability positions its solar PV tracker market for continued expansion. The integration of advanced tracking technologies aligns with the nation's energy goals, supporting a transition to cleaner energy sources.
Get an In-Depth Research Analysis of the South Korea Solar PV Tracker Market Size And Forecast [2025-2032]
Arctech
Array Technologies
Convert Italia
First Solar
NEXTracker
Abengoa
AllEarth Renewables
Edisun Microgrids
Exosun
GameChange Solar
Haosolar
Mahindra Susten
Scorpius Trackers
Solar FlexRack
Soltec
Sun Action Trackers
SunLink
SunPower
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Solar PV Tracker Market
Single-Axis Trackers
Dual-Axis Trackers
Active Trackers
Passive Trackers
Utility-Scale Solar Power Plants
Commercial Solar Installations
Residential Solar Systems
Ground-Mounted Systems
Roof-Mounted Systems
Government and Public Sector
Private Sector & Commercial Entities
Residential Users
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Solar PV Tracker Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Solar PV Tracker Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Solar PV Tracker Market, By Type
6. South Korea Solar PV Tracker Market, By Application
7. South Korea Solar PV Tracker Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Solar PV Tracker Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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