Arctech, emerges as the single company among the global Top 5 solar tracker suppliers to achieve an annual growth rate of 131%. Arctech is the world's leading solar tracking and BIPV solutions provider.
According to the Global solar PV tracker market share report 2024 released by Wood Mackenzie. This significant success can be attributed to Arctech's forward-thinking tactics in globalization and localization, which contain establishing local manufacturing bases in India and the Middle East to support regional solar projects and beyond.
In terms of market share, Arctech holds the No. 1 position in India with a remarkable share of 45%, significantly surpassing other suppliers. Additionally, it has captured a substantial market share of 21% in the Middle East area with a portfolio exceeding 10GW.
Meanwhile, Arctech has maintained its spot as the top solar tracker supplier in APAC for years and secured a market share of 36% in 2023. Its dominance extends to burgeoning Central Asian markets such as Uzbekistan.
One major part to Arctech’s success is its signature solar tracking systems that demonstrate high adaptability across various topographies and economic environments. With a long-term strategic vision focused on entering high-potential markets early on, Arctech has established a strong foundation for sustained future growth in the APAC market.
In 2023, Arctech implemented tailored localization strategy focusing on Middle Eastern & Southwestern European markets while successfully penetrating into the fast-growing Middle European & mature Southwest European regions. Notably, it accomplished significant milestones by winning nearly 350MW solar projects in Europe in 2023 alone.
Furthermore, with a proven track record of successfully executing large utility-scale projects such as the 365MW project in Mexico, and by offering region-specific solutions and robust localization strategies, Arctech is among the Top 5 solar tracker suppliers in Latin America also.
In line with its social responsibility, Arctech has spent nearly 2 million Yuan as charitable donations. Also the company has implemented a transparent, efficient, and accountable corporate governance system. Arctech prioritizes Environment, Social Responsibility, and Corporate Governance (ESG), it has achieved an impressive solar power generation of 21.1 Million KWh with an accumulated installation capacity exceeding 68GW in 2023.