Global Solar Tracker Market Assessment, By Type [Single Axis, Dual Axis], By Technology [Solar Photovoltaic, Concentrated Solar Power, Concentrated Photovoltaic], By Application [Utility, Commercial and Industrial, Residential], By Region, Opportunities and Forecast, 2018-2032F

Global solar tracker market is projected to witness a CAGR of 15.02% during the forecast period 2025-2032, growing from USD 9.16 billion in 2024 to USD 28.06 billion in 2032. 

Solar Tracker Market Size, Share, Growth & Forecast 2032

Global Solar Tracker Market is projected to witness a CAGR of 15.02% during the forecast period 2025-2032, growing from USD 9.16 billion in 2024 to USD 28.06 billion in 2032. The solar trackers market has been growing considerably over the recent years due to the integration of solar as a renewable energy source for power generation. The enhanced requirement for effective solar power generation technology will likely keep an impressive growth rate in the future. The ongoing trend among developing countries regarding shifting toward clean energy alternatives to decrease dependence on fossil fuels drives the demand for solar energy in the market. Solar energy has gained prominence in the renewable energy sector due to which the demand for the solar tracker market will increase in the next few years. Solar trackers are positioned with solar panels to track the path of the sun which results in maximizing the collection of solar energy during the day. Solar trackers increase the efficiency of solar photovoltaic (PV) systems which makes solar farms a viable investment for both utility-scale and commercial solar projects.
The falling price of solar PV technology and the improvement in the efficiency of solar panels have increased the affordability and effectiveness of solar energy which is leading to the solar trackers market demand. Additionally, the incorporation of smart technologies and IoT-based tracking systems has increased the operational efficacy of solar trackers which makes solar trackers a favored option for advanced solar installations. In addition, government incentives and policies encourage the generation of solar energy with the use of solar trackers increasing its demand in the market. Several commercial sectors are heavily investing in solar power generation which drives the demand for solar trackers in the market.
For instance, in January 2025, the United States Department of Agriculture (USDA) invested over USD 6 billion through several programmes for the development of renewable energy in rural area of the country. The programmes included such as Empowering Rural America (New ERA) and Powering Affordable Clean Energy (PACE) with investments in rural communities across 30 US states which will benefit the country. This development highlights that with the rise in the investment in solar farms in rural areas drive the demand for solar trackers in the coming years.
<table width="604">
<tbody>
<tr>
<td width="302">
Report Attributes
</td>
<td width="302">
Details
</td>
</tr>
<tr>
<td width="302">
Base Year
</td>
<td width="302">
2024
</td>
</tr>
<tr>
<td width="302">
Forecast Period
</td>
<td width="302">
2025-2032F
</td>
</tr>
<tr>
<td width="302">
Historical Period
</td>
<td width="302">
2018-2023
</td>
</tr>
<tr>
<td width="302">
Projected Growth Rate
</td>
<td width="302">
CAGR of 15.02 between 2025 and 2032
</td>
</tr>
<tr>
<td width="302">
Revenue Forecast in 2032
</td>
<td width="302">
USD 28.06 billion
</td>
</tr>
</tbody>
</table>
<h2>Rising Investment in Large-Scale Solar Utility Project Accelerate Market Growth</h2>
The large-scale solar power plant generates electricity from the conversion of sunlight for sale to power grids and other end-users. Utility companies are looking to integrate innovative technologies such as solar trackers to increase the production of solar energy from farms. Solar tracking system adjusts the angle of solar panels throughout the day as per the change in the sunlight direction. The tracking system tilts the panel angles to optimize sunlight exposure which consequently increases energy production. Integrating a solar tracking system with solar panels could further boost the efficiency and power generation potential of the installed panels in the solar farms. The high quality of solar tracker systems is an ideal solution for large-scale solar projects. Globally, the growing investments in large-scale solar power generation projects have significantly driven the demand for solar trackers in the market.
Moreover, several governments are encouraging the deployment of large-scale solar projects to meet renewable energy goals. Investors and developers are highly focusing on projects to ensure better long-term returns at low cost. Moreover, solar tracker makes large-scale solar projects more financially attractive and higher energy generation which leads to the adoption of solar tracker in the utility sector. Thus, the combination of solar panels with tracker enhanced adaptability of solar panels in large-scale solar farms which drive the demand for solar tracker in coming years.
For instance, in May 2023, as per India&rsquo;s Ministry of New and Renewable Energy report, India&rsquo;s installed renewable energy capacity have reached to 179 GW, in which solar and wind comprised 67 GW and 43 GW. In the coming years, the country is going to invest heavily to increase the solar installed capacity as the demand for energy in commercial and industrial sectors is rising at a high rate. With the rise in the solar energy production capacity in the country, it will drive the demand for solar trackers in the market.
<h2>Focus On the Rising Share of Solar Energy in the Renewable Energy Mix Creates Market Opportunity</h2>
Globally every sector is highly prioritizing the adoption of clean energy sources. Governments and utility companies are setting up ambitious renewable energy targets as part of the climate commitments and sustainability goals which could be attained by adopting the proper energy mix. The rising share of solar energy in the renewable energy mix presents a significant market opportunity for solar trackers. Countries are focusing on shifting toward decarbonization and adopting energy sources with advanced technology which could produce more power with less environmental impact.
Moreover, in 2023, solar energy dominates the renewable capacity landscape with a market share of around 37%. Utility companies are looking to adopt technologies to optimize solar panel efficiency which creates a market opportunity for the solar tracker market. As the solar industry expands, the need for efficient systems like solar trackers becomes more pronounced, creating a substantial market opportunity for manufacturers. Solar trackers are becoming important components for the solar PV market to make solar segments to capture the largest share of renewable electricity sources by 2029.
For instance, the International Energy Agency (IEA) suggests that renewables must expand rapidly to meet global energy demands sustainably. As solar energy continues to lead the renewable energy sector, the demand for solar trackers is poised to rise, offering significant opportunities for companies involved in the production and supply of solar trackers.
Single Axis to Dominate the Global Market
Single-axis solar trackers are in more demand currently in the international solar tracker market. Single-axis trackers move solar panels on one axis, usually tracing the sun's path which boosts energy generation by 20-30% over fixed-tilt systems. A number of reasons lead to an increase in demand for single-axis solar tracker including cost-effectiveness, simplicity, and flexibility for solar large-scale projects. Single-axis trackers that optimize energy generation while reducing installation and maintenance costs making it a desirable choice for utility-scale solar farms in the market.
Presently, the solar sector continues to prioritize the decrease in the levelized cost of energy (LCOE), single-axis trackers have become the go-to solution for most utility and commercial projects, render single axis market domination. Furthermore, government incentives and policies favoring renewable energy adoption have increased the installation rate of solar projects, especially in high-solar-potential locations, propelling the demand for single-axis trackers in the market.
North America Leads the Solar Tracker Market
North America has been the leader in the solar tracker market and remains dominant in the forecast period. The region dominates the global market due to major investments in utility scale solar projects in which the solar trackers are emerging as the key element to boost energy generation. United States government creating policies which are supporting tax credits like the Investment Tax Credit (ITC) that have resulted in the adoption of solar technology across the market.
Moreover, the focus on the use of renewable energy to lower carbon emissions and improve energy independence also increases the demand for solar trackers in North America. The solar trackers are beneficial to the utility operators in the solar power production as trackers increase solar panel efficiency and lower the operational expenses. Due to this, the market in North America is the largest for solar trackers, with high growth expected in the next few years.
For instance, the report form United States Energy Information Administration in January 2024 states that, The United States solar power generation will grow 75% from 163 billion kilowatthours (kWh) in 2023 to 286 billion kWh in 2025. This development highlights that country is investing heavily in solar power production which creates the market opportunity for the solar trackers in the region.
<a href="https://www.marketsandata.com/industry-reports/solar-tracker-market/sample-request">Download Free Sample Report</a>
Future Market Scenario (2025 &ndash; 2032F)
<ul>
<li>Ongoing improvement in technology and design of solar tracker will improve panel efficiency, which will enhance the productivity of renewable energy.</li>
<li>As environmental concerns push for the adoption of sustainable technological solutions for energy generation will creates the opportunity for the market in coming years.</li>
<li>The large-scale utility providers are heavily investing in innovate technologies to boosts the production of renewable energy in long term.</li>
<li>Support from government policies and financial incentives for deploying solar trackers, in the developing countries will continue to play a significant role in driving solar tracker market growth.</li>
</ul>
Report Scope
&ldquo;Solar Tracker Market Assessment, Opportunities and Forecast, 2018-2032F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of the global solar tracker market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecasts between 2025 and 2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
<table>
<tbody>
<tr>
<td width="301">
Report Attribute
</td>
<td width="301">
Details
</td>
</tr>
<tr>
<td width="301">
Segments Covered
</td>
<td width="301">
Type, Technology, Application
</td>
</tr>
<tr>
<td width="301">
Regions Covered
</td>
<td width="301">
North America, Europe, South America, Asia-Pacific, Middle East and Africa
</td>
</tr>
<tr>
<td width="301">
Key Companies Profile
</td>
<td width="301">
Nextracker Inc., Arctech, FLEXRACK by Qcells, LLC, Soltec Power Holdings S.A., DCE Solar, FTC Solar, Inc., PV Hardware Solutions, S.L.U., Array Technologies, Inc., IDEEMATEC Deutschland GmbH, SunOyster Systems GmbH.
</td>
</tr>
<tr>
<td width="301">
Customization Scope
</td>
<td width="301">
15% free report customization with purchase
</td>
</tr>
<tr>
<td width="301">
Pricing and Purchase Options
</td>
<td width="301">
Avail the customized purchase options to fulfill your precise research needs
</td>
</tr>
<tr>
<td width="301">
Delivery Format
</td>
<td width="301">
PDF and Excel through email (subject to the license purchased)
</td>
</tr>
</tbody>
</table>
In the report,&nbsp;global solar tracker market&nbsp;has been segmented into the following categories:&nbsp;
<ul>
<li>By Type
<ul>
<li>Single Axis</li>
<li>Dual Axis</li>
</ul>
</li>
<li>By Technology
<ul>
<li>Solar Photovoltaic</li>
<li>Concentrated Solar Power (CSP)</li>
<li>Concentrated Photovoltaic (CPV)</li>
</ul>
</li>
<li>By Application
<ul>
<li>Utility</li>
<li>Commercial and Industrial</li>
<li>Residential</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
Continuous innovation characterizes the landscape of solar trackers globally, as the companies compete in terms of system efficiency, product life, and unique features of trackers. The market outlook remains positive, owing to increased demand for solar energy and rising adoption of the innovative technologies to increase the power production in the large-scale solar farms. Product launches, agreements, business expansions, collaborations, and developing technologies are projected to increase competition in the fast-paced market.
For instance, in April 2024, Nextracker Inc. decided to launch its flagship NX Horizon solar tracker system with up to 35% lower carbon footprint. NX Horizon low carbon tracker solution culminates Nextracker&rsquo;s technology leadership and robust supply chain solutions including the use of electric arc furnace (EAF) manufacturing, recycled steel, and logistics strategically. This development helps the company to increase the revenue and product portfolio.
Key Players Operating in Global Solar Tracker Market are:
<ul>
<li>Nextracker Inc.</li>
<li>Arctech</li>
<li>FLEXRACK by Qcells, LLC</li>
<li>Soltec Power Holdings S.A.</li>
<li>DCE Solar</li>
<li>FTC Solar, Inc.</li>
<li>PV Hardware Solutions, S.L.U.</li>
<li>Array Technologies, Inc.</li>
<li>IDEEMATEC Deutschland GmbH</li>
<li>SunOyster Systems GmbH</li>
</ul>
If you can't find what you're searching for or have any custom requirements for global solar tracker market, you may approach our team at&nbsp;<a href="mailto:info@marketsandata.com">info@marketsandata.com</a>

Global Solar Tracker Market Assessment, Opportunities and Forecast, 2018-2032F

Global Solar Tracker market is expected to experience growth due to increasing investment in solar farms and adoption of innovative technologies to enhance the production of solar energy.

FAQs

Industry Reports

Blogs

Case Studies

Industry News

Press Release

Infographics