- Photovoltaic (PV)
- Concentrated Solar Power (CSP)
Solar Tracker Market size was valued at USD 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.
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.
North-America Got Significant Share Solar Tracker Market Regional Analysis
Solar Tracker Market Regional Analysis
North America dominates the global solar tracker market with a high market share due to supportive government policies and incentives to promote the adoption of solar energy in U.S. These policies include tax credits, grants, and renewable energy targets, which have encouraged the installation of solar tracker systems. The availability of such favorable policies has created a conducive environment for solar tracker manufacturers and developers to thrive in the region.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The solar tracker market report provides granular level information about market size, regional market share, historic market (2018-2022), and forecast (2024-2030).
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments, and startup details that are actively working in the market.
- The report provides a plethora of information about market entry strategies.
Solar Tracker Market Segmentation
By Type
By Movement
- Single Axis
- Dual Axis
By Application
- Utility
- Non-Utility
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Frequently Asked Questions
The global solar tracker market is primarily driven by factors such as increasing demand for renewable energy, government incentives, and subsidies, declining costs of solar technology, and the need for efficient and sustainable power generation.
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 |
- NexTracker, Inc.
- Array Technologies, Inc.
- PV Hardware Solutions S.L.U.
- Arctech Solar Holding Co. Ltd
- Soltec Power Holdings SA.