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.
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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SOURCE Arctech