Latin America was largest market for solar trackers in 2017 – GTM Research

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
NEXTracker, which has manufacturing facilities in Brazil and Mexico solidified its market share leadership, accounting for 33% of all trackers installed, with its nearest rival, Array Technologies accounting for 14% of installations. Image: GTM Research

According to a new report from market research firm GTM Research, solar tracker systems market in 2017 increased by 32% to a record 14.5GW, led surprisingly by Latin America. 

GTM Research noted that the rapid pace of solar installations in Mexico and Brazil were behind the region beating the US for PV power plants using trackers as both countries deployed over 1.5GW of tracking systems in 2017. 

Scott Moskowitz, senior analyst at GTM Research and author of the study said, “Mexico and Brazil are two of the fastest growing solar markets in the world, each accounting for over 1.5 gigawatts of tracker shipments in 2017. The U.S. utility-scale market was significantly stunted last year due to tariff uncertainty, so it took a backseat to Latin America.”

As a result, NEXTracker, which has manufacturing facilities in Brazil and Mexico solidified its market share leadership, accounting for 33% of all trackers installed, with its nearest rival, Array Technologies accounting for 14% of installations. 

The leadership position held by NEXTracker was further highlighted by the fact that after Array Technologies none of the other top 10 ranked tracker suppliers came close to a 10% market share, according to the GTM Research report.

“Fundamentals in the global utility-scale solar industry are excellent, and trackers are an obvious choice in most developing solar markets,” added Moskowitz. “We expect 30 percent growth in 2018, with shipments approaching 20 gigawatts.”

However, GTM Research noted that despite the continued strong growth in tracker adoption expected, consolidation in the industry was also expected to continue as supplier margin compression made it increasingly harder to provide profitable growth.

GTM Research cited the acquisition of tracker firm Exosun by steel manufacturing giant ArcelorMittal after Exosun entered bankruptcy in France earlier this year to illustrate the challenges facing tracker suppliers to the solar industry. 

1 December 2021
Join this virtual conference on 1-2 December 2021 for expert presentations covering PV Module Technology, Supply & Site Optimisation for Utility-Scale. Delegates can access streamed presentations, session recordings and chat/messaging tools to connect with fellow delegates and speakers. Speakers include leading developers, manufacturers, testing and research institutes, including: NREL, Silicon Ranch, Sonnedix, Heliene, Powertis, LONGi Solar, JinkoSolar, PVEL, Risen Energy, Seraphim, STS, Trina Solar, Eternalsun Spire, QEERI, Fraunhofer, Estuary Capital Partners, VDE, First Solar, Longroad Energy, Powertis and DNV Energy Systems

Read Next

November 12, 2021
Array Technologies’ profits plummeted 65% amid high material and logistical costs as the solar tracker supplier claimed it was experiencing a margin "trough", weighed down by legacy orders signed at low prices.
November 12, 2021
US solar tracker supplier Array Technologies is to acquire Spanish tracker manufacturer Soluciones Técnicas Integrales Norland (STI Norland) in an acquisition that the Array said will create “the largest tracker company in the world”
November 4, 2021
Spanish solar tracker manufacturer Soltec reported a net loss of €100,000 (US$120,000) in Q3 and a €20 million (US$23 million) loss in the first nine months of the year due to “significant international disruptions”, according to its Q3 financial results released today
October 19, 2021
Solar tracker manufacturer Soltec has signed a framework agreement with renewables developer Acciona Energia to supply trackers over a three-year period.
September 29, 2021
Spanish tracker manufacturer Soltec posted a sharp increase in its order backlog in the first half of the year but said logistics disruptions will impact its margins in H2.
September 1, 2021
Renewables asset manager Arevon Energy has chosen Nextracker to provide its NX Horizon trackers for a 1.5GW portfolio of seven solar projects across Indiana and Nevada.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
December 1, 2021
Solar Media Events
February 1, 2022
London, UK
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal

Cyber Monday Flash Sale – 50% off our subscriptions

24 hours only