Solar Tracker Market By Type (Photovoltaic (PV), Concentrated Solar Power (CSP), By Movement (Single Axis, Dual Axis), By Application (Utility, Non-Utility), and Geography

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Solar Tracker Market size was valued at USD 5.6 billion in 2022 and is poised to grow at a significant CAGR of 12.2% over 2023-2029. 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


Base Year




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.

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 (2023-2029).
  • 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
  • Photovoltaic (PV)
  • Concentrated Solar Power (CSP)
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.

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