Solar Tracker Market Size, Share, Trends, Industry Analysis Report: By Type, Application (Residential, Commercial, and Utility), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Description

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The solar tracker market size is expected to reach USD 35.64 billion by 2034, according to a new study by Polaris Market Research. The report "Solar Tracker Market Size, Share, Trends, Industry Analysis Report: By Type, Application (Residential, Commercial, and Utility), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

The decreasing cost of solar panels is driving the solar tracker market demand. Falling solar panel prices make solar energy more affordable and attractive to a broader range of customers. This reduction in costs enables businesses, homeowners, and governments to invest in solar energy systems, including solar trackers. Solar trackers improve the performance of these systems by keeping panels aligned with the sunlight, thereby boosting energy generation. Lower-cost solar panels make it more feasible for more people and companies to adopt solar trackers, further fueling the solar tracker market growth.

The rising electricity prices are driving the solar tracker market development. Traditional electricity costs continue to increase, due to which many consumers and businesses are seeking more affordable and sustainable energy solutions. Solar power offers an attractive alternative, and the use of solar trackers helps maximize energy generation, making solar systems even more cost-effective. Solar trackers ensure that solar panels are positioned to collect the most sunlight, leading to higher energy yield and better returns on investment. The growing electricity costs have led more people to adopt solar energy with trackers, driving demand for solar trackers.

The global shift toward renewable energy sources is driving the solar tracker market expansion. Concerns over climate change and the environmental impact of fossil fuels are prompting governments, businesses, and individuals to seek cleaner alternatives. Solar power is one of the most popular renewable energy sources, and its adoption is increasing rapidly. This rising demand for renewable energy has increased the need for solar trackers.

Solar Tracker Market Report Highlights

Based on type, the single axis solar tracker segment accounted for a larger market share in 2024 due to its low operating costs and simple setup.

The utility segment, by application, is expected to experience significant growth in the solar tracker market due to rising electricity costs and increasing demand for renewable energy sources.

In 2024, North America held the largest share of the solar tracker market revenue due to the region's increasing emphasis on renewable energy.

The Asia Pacific market is experiencing significant growth due to the increasing demand for renewable energy and rapid urbanization.

A few global key market players are Abengoa Solar S.A., AllEarth Renewables, Array Technologies Inc., DEGERenergie GmbH & Co. KG, Nclave, Powerway Renewable Energy Co. Ltd., Soltec Tracker, SunPower Corporation, Titan Tracker, and Trina Solar Limited.

Polaris Market Research has segmented the solar tracker market report on the basis of type, application, and region:

By Type (Revenue - USD Billion, 2020-2034)

§ Single Axis Solar Tracker

§ Dual Axis Solar Tracker

By Application (Revenue - USD Billion, 2020-2034)

§ Residential

§ Commercial

§ Utility

By Regional Outlook (Revenue - USD Billion, 2020-2034)

North America
US
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Australia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa

Product Code: PM1150

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. Global Solar Tracker Market Insights

4.1. Solar Tracker Market - Market Snapshot
4.2. Solar Tracker Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Rising Installation of Solar Panels
  - 4.2.1.2. Government Support and Incentives
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. High Initial Investment
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Solar Tracker Market Application Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Solar Tracker Market, by Type

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Solar Tracker Market, by Type, 2020-2034 (USD Billion)
5.3. Single Axis Solar Tracker
- 5.3.1. Global Solar Tracker Market, by Single Axis Solar Tracker, by Region, 2020-2034 (USD Billion)
5.4. Dual Axis Solar Tracker
- 5.4.1. Global Solar Tracker Market, by Dual Axis Solar Tracker, by Region, 2020-2034 (USD Billion)

6. Global Solar Tracker Market, by Application

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Solar Tracker Market, by Application, 2020-2034 (USD Billion)
6.3. Residential
- 6.3.1. Global Solar Tracker Market, by Residential, by Region, 2020-2034 (USD Billion)
6.4. Commercial
- 6.4.1. Global Solar Tracker Market, by Commercial by Region, 2020-2034 (USD Billion)
6.5. Utility
- 6.5.1. Global Solar Tracker Market, by Utility by Region, 2020-2034 (USD Billion)

7. Global Solar Tracker Market, by Geography

7.1. Key Findings
7.2. Introduction
- 7.2.1. Solar Tracker Market Assessment, By Geography, 2020-2034 (USD Billion)
7.3. Solar Tracker Market - North America
- 7.3.1. North America: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
- 7.3.2. North America: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.3.3. Solar Tracker Market - U.S.
  - 7.3.3.1. U.S.: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.3.3.2. U.S.: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.3.4. Solar Tracker Market - Canada
  - 7.3.4.1. Canada: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.3.4.2. Canada: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
7.4. Solar Tracker Market - Europe
- 7.4.1. Europe: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
- 7.4.2. Europe: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.4.3. Solar Tracker Market - UK
  - 7.4.3.1. UK: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.4.3.2. UK: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.4.4. Solar Tracker Market - France
  - 7.4.4.1. France: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.4.4.2. France: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.4.5. Solar Tracker Market - Germany
  - 7.4.5.1. Germany: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.4.5.2. Germany: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.4.6. Solar Tracker Market - Italy
  - 7.4.6.1. Italy: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.4.6.2. Italy: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.4.7. Solar Tracker Market - Spain
  - 7.4.7.1. Spain: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.4.7.2. Spain: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.4.8. Solar Tracker Market - Netherlands
  - 7.4.8.1. Netherlands: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.4.8.2. Netherlands: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.4.9. Solar Tracker Market - Russia
  - 7.4.9.1. Russia: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.4.9.2. Russia: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.4.10. Solar Tracker Market - Rest of Europe
  - 7.4.10.1. Rest of Europe: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.4.10.2. Rest of Europe: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
7.5. Solar Tracker Market - Asia Pacific
- 7.5.1. Asia Pacific: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
- 7.5.2. Asia Pacific: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.5.3. Solar Tracker Market - China
  - 7.5.3.1. China: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.5.3.2. China: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.5.4. Solar Tracker Market - India
  - 7.5.4.1. India: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.5.4.2. India: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.5.5. Solar Tracker Market - Malaysia
  - 7.5.5.1. Malaysia: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.5.5.2. Malaysia: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.5.6. Solar Tracker Market - Japan
  - 7.5.6.1. Japan: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.5.6.2. Japan: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.5.7. Solar Tracker Market - Indonesia
  - 7.5.7.1. Indonesia: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.5.7.2. Indonesia: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.5.8. Solar Tracker Market - South Korea
  - 7.5.8.1. South Korea: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.5.8.2. South Korea: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.5.9. Solar Tracker Market - Australia
  - 7.5.9.1. Australia: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.5.9.2. Australia: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.5.10. Solar Tracker Market - Rest of Asia Pacific
  - 7.5.10.1. Rest of Asia Pacific: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.5.10.2. Rest of Asia Pacific: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
7.6. Solar Tracker Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
- 7.6.2. Middle East & Africa: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.6.3. Solar Tracker Market - Saudi Arabia
  - 7.6.3.1. Saudi Arabia: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.6.3.2. Saudi Arabia: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.6.4. Solar Tracker Market - UAE
  - 7.6.4.1. UAE: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.6.4.2. UAE: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.6.5. Solar Tracker Market - Israel
  - 7.6.5.1. Israel: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.6.5.2. Israel: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.6.6. Solar Tracker Market - South Africa
  - 7.6.6.1. South Africa: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.6.6.2. South Africa: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.6.7. Solar Tracker Market - Rest of Middle East & Africa
  - 7.6.7.1. Rest of Middle East & Africa: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.6.7.2. Rest of Middle East & Africa: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
7.7. Solar Tracker Market - Latin America
- 7.7.1. Latin America: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
- 7.7.2. Latin America: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.7.3. Solar Tracker Market - Mexico
  - 7.7.3.1. Mexico: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.7.3.2. Mexico: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.7.4. Solar Tracker Market - Brazil
  - 7.7.4.1. Brazil: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.7.4.2. Brazil: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.7.5. Solar Tracker Market - Argentina
  - 7.7.5.1. Argentina: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.7.5.2. Argentina: Solar Tracker Market, by Application, 2020-2034 (USD Billion)
- 7.7.6. Solar Tracker Market - Rest of Latin America
  - 7.7.6.1. Rest of Latin America: Solar Tracker Market, by Type, 2020-2034 (USD Billion)
  - 7.7.6.2. Rest of Latin America: Solar Tracker Market, by Application, 2020-2034 (USD Billion)

8. Competitive Landscape

8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
8.2. Partnerships/Collaborations/Agreements/Exhibitions

9. Company Profiles

9.1. Abengoa Solar S.A.
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
9.2. AllEarth Renewables
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
9.3. Array Technologies Inc.
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
9.4. DEGERenergie GmbH & Co. KG
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
9.5. Nclave
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
9.6. Powerway Renewable Energy Co. Ltd.
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
9.7. Soltec Tracker
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
9.8. SunPower Corporation
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
9.9. Titan Tracker
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
9.10. Trina Solar Limited
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development