Single Axis Solar PV Tracker Market Share

European Market Analysis

In single axis solar PV tracker market, European region is poised to dominate around 43% share by the end of 2037 owing to the massive consumption of solar power in this region. In line with the European Environment Agency's (EEA) early calculations, 22.5% of energy used in the EU in 2022 was produced from renewable sources. This little rise related to 2021, was massively pushed by power expansion in solar power. Over the long haul, Sweden, Denmark, and Estonia have noticed the biggest expansion in RES shares, with more than 20 percentage points rise since 2005. Romania and Slovenia, on the other hand, have noticed a rise of less than six percentage points between 2005 and 2022.

North American Region

The North American market will also increase during 2024-2037 and will hold the second-largest position in the single axis solar PV tracker market owing to the favorable government policies to adopt solar energy. As the solar photovoltaic (PV) market expands, so will the number of end-of-life panels.

In general, 3.3 percent of electricity in the United States was generated by implementing solar technologies in 2020. By 2030, the United States is projected to have as much as one million complete tons of solar panel trash. As a comparison, the entire production of U.S. municipal solid waste (MSW) in 2018 was 292.4 million tons. By 2050, the U.S. is projected to have the second-largest number of end-of-life panels in the globe, with up to a calculated 10 million total tons of panels.