North America Solar Tracker Market Size - By Product (Single Axis {Horizontal, Vertical}, Dual Axis), By Technology (PV, CSP), By Application (Residential, Commercial & Industrial, Utility), Country Outlook & Forecast, 2024 - 2032

North America Solar Tracker Market will expand at 4.9% CAGR between 2024 and 2032, driven by the increasing installation of solar photovoltaic (PV) systems across several regional economies to enhance energy production.

According to the Office of Energy Efficiency and Renewable Energy, in 2023, photovoltaic (PV) systems accounted for about 54% of new U.S. electric generation capacity, a significant increase from 6% in 2010. The Energy Information Administration (EIA) reports that the U.S. installed 26.3 gigawatts (GWac) of PV, equivalent to approximately 32 GWdc, in 2023. By the end of the year, the total cumulative PV installations in the U.S. reached 137.5 GWac.

As more solar photovoltaic (PV) systems are installed, the need for solar trackers to enhance energy capture and improve system efficiency grows. Solar trackers optimize the angle of PV panels, maximizing energy production and making them a crucial component for expanding solar installations. This trend drives higher demand for advanced solar tracking technologies, thus favoring market growth.

The overall North America Solar Tracker Market is categorized based on product, technology, application, and country.

The dual-axis solar segment will accumulate noticeable gains over 2024-2032, propelled by the superior efficiency of dual-axis solar trackers in capturing sunlight compared to fixed or single-axis systems. Dual-axis trackers adjust both horizontally and vertically, maximizing energy production throughout the day and across seasons. This enhanced performance translates into higher energy yields, making them ideal for utility-scale solar farms and commercial installations. In addition, technological advancements and decreasing costs make dual-axis trackers more accessible and economically attractive, driving their adoption in the region's growing solar market.

The residential segment could capture a noteworthy North America Solar Tracker Market share by 2032, driven by the ability of solar trackers to significantly boost energy efficiency and maximize solar power generation. Homeowners seek to enhance the performance of their solar photovoltaic (PV) systems, and solar trackers provide a cost-effective solution by optimizing the angle of panels throughout the day. Technological advancements have made solar trackers more affordable and easier to install, making them an attractive option for residential solar installations. Additionally, growing awareness of energy savings and sustainability further fuels their adoption in residential settings.

Canada solar tracker industry will garner a modest valuation by 2032. Increasing investments in renewable energy and supportive government policies promote solar energy adoption. Solar trackers enhance energy production by optimizing panel angles, crucial for maximizing efficiency in Canada's varied climate. Technological advancements have reduced costs, making trackers more accessible. Additionally, the growing focus on reducing carbon footprints and achieving sustainability goals drives demand for advanced solar solutions, contributing to the robust growth of the solar tracker market in the country.