Global shipments of solar trackers reached 94GW in 2023, 29 percent more than in 2022, S&P Global said in its Solar Tracker Market Report 2024.
The solar tracker market in the United States fell from 47 percent to 38 percent. 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 percent, double that of the previous year. Its business growth ranked second worldwide, making it one of the fastest-growing companies.
TrinaTracker’s solar tracker shipments have 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 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. 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. This project was developed by Qatar Energy, and Samsung C&T was the EPC. 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.
Global investment in clean energy technologies is forecast to reach $2 trillion by the end of 2024. At over $500 billion, spending on solar photovoltaics is set to surpass all other generation technologies combined for the second consecutive year, according to the International Energy Agency’s World Energy Investment 2024 report.