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 Forecast 2020-2031

Solar Tracker Market size was valued at US$ 7.6 billion in 2024 and is expected to reach US$ 17.1 billion by 2031, growing at a significant CAGR of 12.2% from 2025-2031. 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 market.

Key Developments:

• In October 2024, Nextracker inaugurated India's first Center of Solar Excellence (CFSE) in Hyderabad. The 13-acre facility is dedicated to advancing solar tracker technology, underscoring Nextracker's commitment to innovation in the region. ?
• In September 2024, FTC Solar, Inc. was selected by Strata Clean Energy to supply approximately 500 megawatts of its Voyager 2P solar tracker technology for multiple projects in the United States. This partnership designates FTC Solar as the preferred 2P solar tracker supplier over a three-year term, with potential expansion to over a gigawatt.
• In June 2024, Antaisolar signed a 294 MW solar tracker project with Larsen & Toubro. Antaisolar provided a single slew drive design aimed at significantly reducing the man-hours required for tracker installation.