CHANGZHOU, China, July 15, 2024 /PRNewswire/ -- The renowned research institution S&P Global has published the Solar Tracker Market Report 2024, which says global shipments of solar trackers reached 94GW in 2023, 29% more than in 2022. Global market distribution began to shift last year, with the market share of the United States, traditionally the largest market for solar trackers, falling from 47% to 38%. In contrast, emerging markets grew markedly, with notable increases in Saudi Arabia, India and Uzbekistan.
TrinaTracker ranked sixth in global shipments in 2023, and third in key countries and regions, S&P Global said. TrinaTracker's global market share reached 6%, double that of the previous year. Its business growth ranked second worldwide, making it one of the fastest-growing companies.
According to the report, TrinaTracker's shipments ranked third in South America, with volume of about 1.5GW, TrinaTracker became the largest Chinese solar tracker company in the region by shipment volume. The 520MW Santa Luzia Complex, one of the largest solar projects in Brazil, was officially put into operation at the beginning of the year. The 210MW Mauriti PV project in Brazil has also been successfully delivered. Brazil's CEMIG SIM PV power station uses Trina Solar's integrated delivery solution of Vertex modules + Vanguard trackers, pioneering a new business model in South America. In addition, TrinaTracker set the pace with significant shipments to Argentina Chile and Colombia.
The Middle East market expanded significantly and that trend is expected to continue until 2030. TrinaTracker is one of the pioneer suppliers in the Middle East with its leading position in delivery volume. TrinaTracker exclusively supplied solar trackers for Qatar's 875M industrial city solar power project, one of the most significant projects in the region. This project was developed by Qatar Energy, and Samsung C&T was the EPC. Furthermore, TrinaTracker has more than 2GW orders scheduled for the Middle East, and business volume is expected to continue to grow this year.
By the end of 2023 TrinaTracker had delivered smart tracker solutions to more than 700 solar plants in more than 60 countries, with cumulative shipments exceeding 20GW. This year TrinaTracker aims to further strengthen its global presence, provide localized lower LCOE solar tracker solutions, and expects a further steady increase in business.
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