- In the Solar Tracker Market Report 2024 published by S&P Global, TrinaTracker ranked sixth in global shipments in 2023;
- TrinaTracker's global market share was 6%, double what it was in 2022;
- TrinaTracker ranked third for shipments to emerging markets such as South America and the Middle East.
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.
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.
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.
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.
About Trinasolar (688599. SH)
Founded in 1997, Trinasolar Co Ltd (stock symbol: Trinasolar; stock code: 688599) is engaged mainly in PV products, PV systems and smart energy. PV products include R&D, production and sales of PV modules. PV systems consist of power stations and system products. Smart energy comprises mainly PV power generation and operations and maintenance, smart solutions for energy storage, smart microgrid, and development and sales of multi-energy systems. We are committed to leading the way in smart PV and energy storage solutions and facilitating the transformation of new power systems for a net-zero future.
On June 10, 2020, Trinasolar was listed on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange (SSE). It was the first PV and energy storage company to go public on the STAR Market providing PV products and systems, as well as smart energy. For more information, please visit www.trinasolar.com.