2024 World’s Top 10 PV Tracker Brands Revealed by PVBL

PVTIME – On June 11-12 2024, the CPC 9th Century Photovoltaic Conference and PVBL 12th Global Photovoltaic Brand Rankings Announcement Ceremony were jointly held by Century New Energy Network, PVTIME and Photovoltaic Brand Lab (PVBL) in Shanghai City, China.

The conference brought together leaders in the field of solar energy, entrepreneurs and heads of investment institutions. Starting from the Duel Carbon goals, PV-related topics such as industrial development trend, technological innovation and integration of solar power storage were discussed, with the aim of promoting the coordinated progress of upstream and downstream industrial chains, and promoting the brand building and technological innovation of the photovoltaic industry.

On the first day of the conference, PVBL’s annual ranking of the Top 20 Global PV Tracker Brands was announced.

Due to the high concentration of the solar tracking market, the ranking of the top 10 tracker vendors has not changed much in 2023.

Nextracker, the veteran tracker leader, is undoubtedly the top player, with 18GW of shipments and a global market share of more than 30%. It generated revenues of $1.9 billion, up 133% year-on-year, and net income of $121.3 million, up 243% year-on-year. ArrayTechnologiesy followed in second place, with shipments of around 15GW and a slight increase in global market share in recent years.
Arctech came in third with 7.64GW of trackers, the third largest shipment volume in the world. The company’s financial report shows that its annual operating income from trackers was 3.598 billion yuan in 2023.

Spanish manufacturer PV Hardware came fourth. TrinaTrakcer followed with shipments of 4.6 GW, a steady growth over 2022.

In 2023, the total price of trackers are between 0.45 yuan / W to 0.65 yuan / W in 2023. Many factors, including unstable raw material prices, installed demand, innovation in materials and systems, have influenced the solar tracker market. The demand for trackers in overseas market are steadily growing, but in China, its penetration rate was less than 10% in 2023. Some institutions predict that in the next few years, China’s tracker market size is expected to reach more than 40%, and the market size will reach 65.1 billion yuan in 2025.

Launched in 2012, the PVBL annual report is the only data research report in China supported by a multidimensional evaluation system. The multidimensional scoring system accurately reflects consumers’ attitudes towards brands and provides companies with insights into the effectiveness of their brand positioning strategies.

To calculate a company’s corporate brand rating, the Photovoltaic Brand Lab combines 10 years of data collected by Century New Energy Network and its web-based operations with the evaluation criteria.

The maximum achievable Corporate Brand Rating is 1000 and is calculated after companies have gone through the comprehensive evaluation system, which includes the assessment of five primary and ten secondary indicators. The primary indicators are sales, research and development, outgoing shipments, impact and service. Secondary indicators include brand design, brand popularity, brand reputation, brand loyalty, product quality, service quality, marketing promotion, social responsibility, industry impact and societal impact.

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