KUNSHAN, China, July 30, 2024 /PRNewswire/ -- Arctech, the
world's leading solar tracking, racking and BIPV solutions
provider, emerges as the only company among the global Top 5 solar
tracker suppliers to achieve an impressive annual growth rate of
131%, according to the Global solar PV tracker market share report
2024 released by Wood Mackenzie. This remarkable success can be
attributed to Arctech's forward-thinking strategies in
globalization and localization, which include establishing local
manufacturing bases in India and
the Middle East to support
regional solar projects and beyond.
![](https://mma.prnewswire.com/media/2471526/Arctech.jpg)
In terms of market share, Arctech holds the No. 1 position in
India with an impressive share of
45%, significantly surpassing other suppliers. Additionally, it has
captured a substantial market share of 21% in the Middle East region with a portfolio exceeding
10GW. Meanwhile, Arctech has maintained its position 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
key factor contributing 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
achieved 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.
Being a responsible enterprise that prioritizes Environment,
Social Responsibility, and Corporate Governance (ESG), Arctech has
achieved an impressive solar power generation of 21.1 Million KWh
with an accumulated installation capacity exceeding 68GW in 2023.
In line with its commitment to social responsibility, Arctech has
made charitable donations totaling nearly 2
million Yuan. Moreover, the company has implemented a
transparent, efficient, and accountable corporate governance
system. Arctech aims to further enhance its dedication and
implementation of ESG practices based on insights from industry
leaders in order to contribute towards the global transition
towards green energy and sustainable development. Click to review
Arctech ESG Report 2024 now!
Looking ahead into the future, Arctech foresees even better
performance in 2024 with a backlog of orders totaling approximately
RMB 6.669 billion Yuan (excluding
tax). Notably, tracking system orders account for around
RMB 5.549 billion Yuan - representing
an impressive increase of approximately 183.11% compared to the
same period last year.
For more information for Arctech, please visit
https://www.arctechsolar.us/.
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