Source: Wood Mackenzie Power & Renewables
The US and Latin America continued to lead the way in the PV tracker market last year, with global shipments surpassing 20GW (up 36% y-o-y), according to the latest Wood Mackenzie Power & Renewables report.
US firm NEXTracker also continues to dominate with more than twice the market share of its closest competitors worldwide.
WoodMac noted that shrinking vendor margins for PV tracking companies can make it difficult to achieve profitable growth. Meanwhile, market consolidation is expected to continue.
Latin America became the largest market for solar trackers in 2017 and remains so this year, with 5,851MW in total shipments. It was followed by the US, the Middle East (up 96%) and Australia (up 74%).