Solar Tracker Market: By Type, Concentrated Solar Power ), By Movement, By Application, and Geography

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Solar Tracker Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Photovoltaic (PV), Concentrated Solar Power (CSP)), By Movement (Single Axis, Dual Axis), By Application (Utility, Non-Utility), and Region

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Solar Tracker Market size was valued at US$ 6.8 billion in 2023 and is poised to grow at a significant CAGR of 12.2% over 2024-2030. One of the key drivers is the increasing demand for renewable energy sources, particularly solar energy, as countries worldwide strive to reduce their carbon emissions and transition to clean energy sources. Solar trackers play a crucial role in maximizing the efficiency and output of solar power plants by dynamically aligning solar panels with the sun's position throughout the day.

Additionally, the driver is the declining cost of solar energy technology, making it more economically viable and attractive for utility-scale and distributed solar installations. The advancements in solar tracker technology, such as advanced control systems, sensors, and algorithms, have further improved the performance and reliability of solar tracking systems, driving their adoption in the market. Government initiatives and support policies promoting renewable energy adoption, such as feed-in tariffs, tax incentives, and renewable energy targets, are expected to fuel the demand for solar trackers. Favorable government policies, incentivize solar power project developers to incorporate solar tracking systems into their installations. Overall, the combination of increasing renewable energy demand, declining costs, technological advancements, and supportive government policies is driving the global solar tracker market.

Solar Tracker Market Key Developments

  • In January 2023, SunPower Corporation and First Solar, Inc. announced a collaboration to develop and deploy solar trackers for utility-scale solar projects.
  • In February 2023, NEXTracker, Inc. launched its new NXS-1000 solar tracker, which is designed for utility-scale solar projects.

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Solar Tracker Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

12.20%

Largest Market

North America

Fastest Growing Market

Asia Pacific

Solar Tracker Market Dynamics

The increasing investments in solar power projects, particularly in emerging economies, are expected to fuel the growth of the solar tracker market. Emerging economies recognize solar energy's potential to meet rising energy demands and reduce dependence on fossil fuels. Governments and investors in these countries are actively promoting solar power projects and incentivizing their development, creating a favourable market environment for solar tracker manufacturers and suppliers to expand their presence and capitalize on the growing opportunities in future.

Solar Tracker Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 6.8 billion

Market CAGR

12.20%

By Type

  • Photovoltaic (PV)
  • Concentrated Solar Power (CSP)

By Movement

  • Single Axis
  • Dual Axis

By Application

  • Utility
  • Non-Utility

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Key Features of the Report

  • The solar tracker market report provides granular level information about the market size, regional market share, historic market (2019 to 2023) and forecast (2024 to 2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

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Frequently Asked Questions

The global solar tracker market size was valued at US$ 6.8 billion in 2023 and expected to grow at a CAGR of 12.2% from 2024-2030.

Regions such as North America, Europe, and Asia Pacific are experiencing significant growth in the solar tracker market. These regions have favorable government policies, growing investments in solar power projects, and increasing adoption of renewable energy sources.

Some of the challenges in the solar tracker market include high initial costs, maintenance requirements, and the need for sufficient land availability for large-scale installations. Additionally, the intermittent nature of sunlight and weather conditions can affect the performance of solar trackers. However, advancements in technology and continuous innovation are addressing these challenges and improving the efficiency and reliability of solar tracker systems.

1.Executive Summary
2.Global Solar Tracker Market Introduction 
2.1.Global Solar Tracker Market  - Taxonomy
2.2.Global Solar Tracker Market  - Definitions
2.2.1.Type
2.2.2.Movement
2.2.3.Application
2.2.4.Geography
2.2.5.Region
3.Global Solar Tracker Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Solar Tracker Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Solar Tracker Market  By Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Photovoltaic (PV)
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Concentrated Solar Power (CSP)
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
6.Global Solar Tracker Market  By Movement, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Single Axis
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Dual Axis
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
7.Global Solar Tracker Market  By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. Utility
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Non-Utility
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
8.Global Solar Tracker Market  By Geography, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Asia Pacific
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Latin America
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. MEA
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9.Global Solar Tracker Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. North America
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.1.3. Market Opportunity Analysis 
9.2. Europe
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.2.3. Market Opportunity Analysis 
9.3. Asia Pacific (APAC)
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.3.3. Market Opportunity Analysis 
9.4. Middle East and Africa (MEA)
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.4.3. Market Opportunity Analysis 
9.5. Latin America
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.5.3. Market Opportunity Analysis 
10.North America Solar Tracker Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Photovoltaic (PV)
10.1.2.Concentrated Solar Power (CSP)
10.2.  Movement Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Single Axis
10.2.2.Dual Axis
10.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Utility
10.3.2.Non-Utility
10.4.  Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.North America
10.4.2.Europe
10.4.3.Asia Pacific
10.4.4.Latin America
10.4.5.MEA
10.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.5.1.United States of America (USA)
10.5.2.Canada
11.Europe Solar Tracker Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1. Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Photovoltaic (PV)
11.1.2.Concentrated Solar Power (CSP)
11.2.  Movement Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Single Axis
11.2.2.Dual Axis
11.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Utility
11.3.2.Non-Utility
11.4.  Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.North America
11.4.2.Europe
11.4.3.Asia Pacific
11.4.4.Latin America
11.4.5.MEA
11.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.5.1.Germany
11.5.2.France
11.5.3.Italy
11.5.4.United Kingdom (UK)
11.5.5.Spain
12.Asia Pacific (APAC) Solar Tracker Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1. Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Photovoltaic (PV)
12.1.2.Concentrated Solar Power (CSP)
12.2.  Movement Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Single Axis
12.2.2.Dual Axis
12.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Utility
12.3.2.Non-Utility
12.4.  Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.North America
12.4.2.Europe
12.4.3.Asia Pacific
12.4.4.Latin America
12.4.5.MEA
12.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.5.1.China
12.5.2.India
12.5.3.Australia and New Zealand (ANZ)
12.5.4.Japan
12.5.5.Rest of APAC
13.Middle East and Africa (MEA) Solar Tracker Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
13.1. Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Photovoltaic (PV)
13.1.2.Concentrated Solar Power (CSP)
13.2.  Movement Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Single Axis
13.2.2.Dual Axis
13.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Utility
13.3.2.Non-Utility
13.4.  Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.North America
13.4.2.Europe
13.4.3.Asia Pacific
13.4.4.Latin America
13.4.5.MEA
13.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.5.1.GCC Countries
13.5.2.South Africa
13.5.3.Rest of MEA
14.Latin America Solar Tracker Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
14.1. Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.1.1.Photovoltaic (PV)
14.1.2.Concentrated Solar Power (CSP)
14.2.  Movement Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.2.1.Single Axis
14.2.2.Dual Axis
14.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.3.1.Utility
14.3.2.Non-Utility
14.4.  Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.4.1.North America
14.4.2.Europe
14.4.3.Asia Pacific
14.4.4.Latin America
14.4.5.MEA
14.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.5.1.Brazil
14.5.2.Mexico
14.5.3.Rest of LA
15. Competition Landscape
15.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
15.2.1.NexTracker, Inc.
15.2.2.Array Technologies, Inc.
15.2.3.PV Hardware Solutions S.L.U.
15.2.4.Arctech Solar Holding Co. Ltd
15.2.5.Soltec Power Holdings SA.
16. Research Methodology 
17. Appendix and Abbreviations 

Key Market Players

  • NexTracker, Inc.
  • Array Technologies, Inc.
  • PV Hardware Solutions S.L.U.
  • Arctech Solar Holding Co. Ltd
  • Soltec Power Holdings SA.

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