Against the backdrop of deepening “dual carbon” goals and the global energy transition, the photovoltaic industry chain continued its robust growth trajectory in 2023. As the “skeleton” supporting PV modules, the performance of solar mounting systems directly impacts the power generation efficiency and investment returns of PV power plants. Both market size and technological innovation achieved significant leaps. According to the latest report from Wood Mackenzie, global photovoltaic tracker shipments grew 28% year-on-year in 2023, reaching 92 GW, with the top ten suppliers accounting for 90% of the global market share. This article systematically reviews the annual development panorama of the solar mounting system industry in 2023 from the perspectives of market size, technology trends, competitive landscape, and key company developments.

I. High Industry Prosperity: Global PV Installations Grow Strongly, Mounting Market Expands

The global PV industry maintained a high growth trajectory in 2023. Data shows that by the end of 2023, China's cumulative installed PV capacity reached 609 GW, up more than 55% from the end of 2022; new energy storage cumulative installed capacity reached 31.39 GW, up more than 260% from the end of 2022. Driven by strong end-user demand, the mounting systems market expanded simultaneously. According to China Commercial Industry Research Institute, China's PV mounting market size will reach RMB 21 billion in 2023 and is expected to grow to RMB 25.3 billion in 2024.

PV mounting systems are mainly divided into fixed mounts and trackers. Fixed mounts have long dominated due to their high stability, low cost, and easy maintenance. However, with the arrival of the grid-parity era, the economic value of trackers in reducing levelized cost of energy (LCOE) and improving project returns is becoming increasingly evident, leading to a quiet restructuring of the market landscape.

II. Technological Evolution: Trackers Accelerate Penetration, Flexible Mounts and BIPV Expand New Scenarios

In 2023, the PV mounting industry showed clear technological directions, entering a new phase of multi-dimensional breakthroughs. The economic viability and reliability of trackers were further enhanced by AI algorithms. At SNEC 2023, at least 17 companies exhibited tracker systems, making trackers a flagship product for mounting companies. Compared to traditional fixed mounts, trackers can increase power plant generation by 15% to 25%. Intelligent tracking algorithms can avoid array shading in real time, and remote monitoring and fault diagnosis functions significantly reduce operation and maintenance costs.

Meanwhile, flexible mounts, as an emerging technology route, began to appear in more power plant procurement tenders. At SNEC 2023, six companies showcased flexible mounts, including Guoqiang Xingsheng, Antai Technology, and Yizhao New Energy. Flexible mounts offer inherent advantages such as fewer piles, longer spans, higher ground clearance, and smaller footprint, making them particularly valuable for power plants in complex terrains like mountains, hills, and tidal flats, with expanding application scope.

Furthermore, BIPV (Building-Integrated Photovoltaics) continued to gain momentum in 2023. Over 12 mounting companies exhibited BIPV products at SNEC. Some provinces have set clear regulations requiring that newly built industrial factory roofs install PV systems, with some requiring up to 100% coverage, offering vast market opportunities for BIPV.

III. Global Competitive Landscape: Overseas Giants Lead, Chinese Players Accelerate Breakthroughs

From a global competitive landscape perspective, the PV tracker market in 2023 was highly concentrated. According to Wood Mackenzie, the top three companies accounted for over 50% of global tracker shipments. Specifically, US-based Nextracker ranked first for the ninth consecutive year with a 23% market share, Array Technologies followed with 16%, and GameChange Solar ranked third with 12% – the first time GameChange Solar entered the global top three, achieving a 55% year-on-year growth rate in 2023.

The United States is the world's largest PV tracker market, with tracker shipments exceeding 37 GW in 2023, up 10% year-on-year, driven mainly by the Inflation Reduction Act (IRA) incentives boosting large-scale ground-mounted PV projects.

In Europe, Spain led demand, accounting for 50% of European tracker demand. Spanish manufacturer PV Hardware held the largest market share in Europe, with Soltec and Axial also entering the global top ten.

Notably, Chinese companies occupied two spots in the global top ten tracker suppliers. Arctech ranked fifth globally with a 9% market share, being the only Chinese company in the global top five; Trinasolar ranked sixth with a 6% market share. Both companies have accelerated their overseas market expansion.

However, the Chinese domestic tracker market showed significant differences from global trends. In 2023, China installed over 140 GW of utility-scale projects, but the PV tracker market size was only 4.3 GW, far below the global average. This is mainly because Chinese developers focus more on reducing installation costs, leading to higher demand for fixed-tilt mounting products.

IV. Key Company Performance: Top Players Shine, Overseas Strategies Pay Off

Arctech – As a world-leading PV tracker manufacturer, Arctech achieved global tracker system shipments of 7.64 GW in 2023, up 129.47% year-on-year, with tracker revenue of RMB 3.598 billion, up 124.13%. Full-year revenue reached RMB 6.390 billion, up 72.59%, and net profit attributable to shareholders was RMB 345 million, up 676.58%. Management stated that tracker manufacturing capacity is built more slowly than other PV main materials and currently there is no overcapacity. The company plans to build overseas production capacity in Saudi Arabia and Brazil to enhance self-manufacturing and delivery capabilities.

Trinasolar – Under Trinasolar, TrinaTracker increased its global market share to 6% in 2023, doubling from the previous year, achieving the world's second-highest business growth and the fastest growth rate among global companies. In 2023, TrinaTracker shipped nearly 1.5 GW, further improving its ranking to the top three in South America, making it the largest Chinese tracker supplier in the region. Performance was also outstanding in the Middle East, with TrinaTracker providing 100% of the trackers for the 875 MW Qatar Industrial Cities Solar Power Project.

Guoqiang Xingsheng – Ranked first among China's top 20 PV mounting companies, with global shipments reaching 20,148 MW in 2022. The company has an annual production capacity of 45 GW of PV mounting products, exported to Europe, Latin America, the Middle East, Southeast Asia, and other regions.

Wei Wang Solar – Achieved 6 GW of PV mounting shipments in 2023, signed nearly RMB 1.1 billion in sales contracts, with annual order value up 101.2% year-on-year. Longxiang New Energy's 800,000-ton annual PV mounting project, with a total investment of RMB 840 million, will become the largest PV mounting production project in Northwest China upon completion.

V. Cost Optimization: Raw Material Prices Stabilize, Profit Margins Expected to Improve

Raw materials account for the largest share of PV mounting costs – approximately 80% for fixed mounts and 85% for trackers. In 2023, as pandemic impacts subsided and geopolitical conflicts eased, both steel and aluminum prices showed a trend of retreating from highs. Stabilizing raw material prices contributed to improved profitability in the mounting segment.

On the production capacity side, PV profile output grew rapidly in 2023. Estimated annual PV profile output reached approximately 4.01 million tons, up 63.67% year-on-year, of which aluminum PV mounting output reached 1.346 million tons, up 72.42%. Leading companies gradually increased market share through capital and precision advantages, forming a “head effect” and further increasing industry concentration.

VI. Capacity Expansion and Investment: Chinese Companies Accelerate Global Supply Chain Layout

In 2023, capacity expansion in the PV mounting industry continued to accelerate. Leading companies launched fundraising for expansion: Yihua Group planned to raise up to RMB 533 million for constructing a core component production base for PV mounts in Yueqing, expanding production of stamped parts and welded parts, while achieving mass production of PV tracker controllers.

Notably, Chinese PV mounting companies are accelerating global production capacity deployment. In September 2023, Trinasolar announced the construction of an intelligent tracker manufacturing factory in Salvador, Brazil. Upon operation, the company will have 10 GW of in-house production capacity across Spain, China, and Brazil, with engineering service teams in Chile, Mexico, Argentina, and other Latin American countries. Arctech is building overseas production capacity in emerging markets such as Saudi Arabia and Brazil to enhance self-manufacturing, delivery capabilities, and global responsiveness.