PUBLISHER: The Business Research Company | PRODUCT CODE: 1656945
PUBLISHER: The Business Research Company | PRODUCT CODE: 1656945
A solar tracker is a system designed to position solar panels at an optimal angle relative to the sun, allowing them to absorb more sunlight and generate increased electricity. Active solar tracking systems utilize powered machinery, such as gears and motors, to move solar panels, while passive trackers achieve motion by utilizing the sun's heat to compress liquid.
The main types of solar trackers include single-axis and dual-axis systems. A single-axis solar tracking system moves a photovoltaic (PV) panel on an approximate trajectory relative to the Sun's position, utilizing a tilted PV panel mount and one electric motor. The axis of rotation can be horizontal, vertical, or oblique. Solar trackers are deployed in various technologies, including solar photovoltaic (PV), concentrated solar power (CSP), and concentrated photovoltaic (CPV). These trackers find applications in residential, commercial, industrial, and utility settings.
The solar tracker market research report is one of a series of new reports from The Business Research Company that provides solar tracker market statistics, including solar tracker industry global market size, regional shares, competitors with a solar tracker market share, detailed solar tracker market segments, market trends and opportunities, and any further data you may need to thrive in the solar tracker industry. This solar tracker market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The solar tracker market size has grown rapidly in recent years. It will grow from $10.54 billion in 2024 to $12.17 billion in 2025 at a compound annual growth rate (CAGR) of 15.4%. The growth in the historic period can be attributed to improved energy yield, cost reductions, environmental awareness, incentive programs, energy independence.
The solar tracker market size is expected to see rapid growth in the next few years. It will grow to $21.7 billion in 2029 at a compound annual growth rate (CAGR) of 15.6%. The growth in the forecast period can be attributed to advanced tracking technologies, global solar installations, energy storage integration, efficiency improvements, emerging solar markets.Major trends in the forecast period include technological advancements and enhanced efficiency, growing adoption of dual-axis trackers, digitalization and data-driven optimization, artificial intelligence (ai) and machine learning (ml), smart inverters.
The rising number of solar panel installations worldwide is anticipated to drive growth in the solar tracker market. This trend is fueled by government initiatives promoting renewable energy projects and increasing investments by residential customers in environmentally friendly energy sources, leading to a substantial rise in solar panel installations globally. The surge in solar panel installations is expected to elevate the demand for solar trackers, which are commonly used to enhance energy output and efficiency in new setups. For example, according to SolarPower Europe, a Belgium-based association representing the European solar PV sector, a total of 447 gigawatts (GW) of solar panels were installed in 2023, nearly doubling the 239 GW installed in 2022. Therefore, the increase in solar panel installations is projected to significantly boost the demand for solar trackers during the forecast period.
The increasing adoption of renewable energy is set to drive the growth of the solar tracker market. Renewable energy comes from naturally replenishing sources like sunlight, wind, and hydropower, making it environmentally sustainable and viable for indefinite use. Solar trackers play a crucial role in renewable energy by maximizing energy production, improving efficiency, and enhancing the cost-effectiveness and sustainability of solar power. For instance, in 2023, a report from the U.S. Energy Information Administration (EIA), a U.S.-based agency, indicated that utility-scale electricity generation from hydropower in the U.S. reached 240 billion kWh, contributing to 5.7% of the total energy mix. Consequently, the rising demand for renewable energy sources is expected to drive the solar tracker market.
New product developments are a significant trend gaining traction in the solar tracker market. Leading companies in this sector are focusing on creating innovative products to address industry-specific technical requirements and strengthen their global market presence. For example, in July 2024, Soltec, a Spain-based electric services company, introduced its 4X4 system for the SFOne solar tracker, designed to adapt to various terrains and locations. This advanced system enables solar trackers to function on constant slopes of up to 15% in both North-South and East-West orientations and can accommodate non-constant slopes of up to 20%. The 4X4 capability reduces land preparation efforts, making it suitable for complex topographies, and features customizable software that optimizes the layout and installation process, thereby improving overall project efficiency.
Prominent companies in the solar tracker market are dedicated to product innovation, aiming to enhance energy efficiency and overall performance. Product innovation involves the introduction of new and improved technologies or features that elevate the efficiency, precision, and durability of solar tracking systems, ultimately boosting the energy output of solar panels. For instance, in September 2022, Array Technologies Inc., a U.S.-based provider of utility-scale solar tracker technology, launched the Array OmniTrack and Array STI H250 products, enhancing its existing DuraTrack product line. Array OmniTrack is designed to simplify site preparation, ease installation, increase project ROI, and lower total project expenses. Meanwhile, Array STI H250 serves as a cost-effective alternative, particularly suitable for sites with irregular boundaries, highly inclined blocks, or fragmented project areas. These product lines, meeting domestic sourcing content standards, cater to diverse client needs and evolving requirements in the utility-scale solar industry. Customers benefit from Array's extensive product portfolio and a track record of innovation, receiving solutions tailored to their site-specific requirements and priorities.
In January 2022, Array, a U.S.-based solar tracker manufacturer, completed the acquisition of STI Norland for $652.16 million. This strategic move is a pivotal step in Array's expansion strategy to enhance its global business presence. The amalgamation of Array and STI Norland is expected to establish dominant positions in the solar market outside China and India. It also enables the company to maintain relationships with key international customers and gain access to a proven, cost-effective product. STI Norland, based in Spain, is a manufacturer of solar trackers.
Major companies operating in the solar tracker market include NEXTracker Inc., Soltec Power Holdings SA, Arctech Solar Holding Co. Ltd., Array Technologies Inc., Exosun SA, Gonvarri Solar Steel SL, Powerway Renewable Energy Co. Ltd., Meca Solar Mobility SL, SunPower Corporation, Haosolar Co. Ltd., Scorpius Trackers Private Limited, AllEarth Renewables Inc., DEGER energie GmbH & Co. KG, Convert Italia SpA, GameChange Solar, PV Hardware Solutions S.L.U., FTC Solar Inc., Mahindra Susten Pvt. Ltd., Abengoa Solar S.A., Grupo Clavijo Elt SL, Titan Tracker SL, Sun Action Trackers LLC, SunLink Corporation, Mechatron Solar Inc., Northern States Metals, DCE Solar, Valmont Industries Inc., NCLAVE Renewable S.L., Amberroot Systems, Ephysx Technologies Pvt.Ltd., Greenera Energy Pvt. Ltd.
North America was the largest region in the solar tracker market in 2024. The regions covered in the solar tracker market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the solar tracker market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The solar tracker market consists of sales of Horizontal Single-Axis Solar Tracker (HSAT), Horizontal Tilted Single-Axis Solar Trackers (HTSAT, Vertical Single-Axis Solar Trackers (VSAT), and Vertical-Tilted Single-Axis Solar Trackers (VTSAT). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Solar Tracker Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on solar tracker market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for solar tracker ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The solar tracker market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.