Solar Tracker Market by Axis Type (Single-axis, Dual-axis), Type (Grid-connected, Off-grid), Application (Utility, Non-utility), Region (Asia Pacific, North America, Europe, Latin America, Middle East & Africa) - Global Forecast to 2029

The solar tracker market is estimated to reach USD 22.87 billion by 2029 from an estimated value of USD 10.32 billion in 2024, at a CAGR of 17.3% during the forecast period. The Solar Tracker Market is driven by advancements in AI-enabled tracking systems, increasing demand for optimized land use, and the integration of bifacial solar modules. Enhanced durability and reduced maintenance costs make trackers more viable. Additionally, growing emphasis on energy resilience and climate targets prompts greater adoption in disaster-prone and remote regions, fueling overall market expansion.

“Utility segment held larger share of solar tracker market based on application”

The utility segment held a larger share of the solar tracker market in 2023 due to the increasing deployment of large-scale solar power plants to meet growing electricity demand and achieve clean energy targets. Utilities are rapidly adopting solar trackers to maximize energy yield and improve project economics, especially in regions with high solar irradiation. Government incentives, power purchase agreements (PPAs), and favorable grid integration policies are further encouraging investments in utility-scale solar projects. Additionally, the declining cost of solar technology, combined with advancements in tracker design, is making utility-scale projects more efficient and financially viable. Utilities also benefit from economies of scale, which enhance cost-effectiveness and operational efficiency. With the rising need for decarbonization and energy diversification, the utility segment continues to contribute globally to solar tracker installations.

“Single-axis solar trackers to lead market based on axis type”

The single-axis segment continues to hold a strong position in the solar tracker market due to its cost-effectiveness, ease of installation, and proven efficiency in utility-scale solar projects. It allows solar panels to follow the sun’s path from east to west, significantly improving energy output compared to fixed-tilt systems. Single-axis trackers are especially suitable for large ground-mounted installations, where maximizing land use and power generation is crucial. Their relatively low operational and maintenance costs make them attractive for investors seeking high returns. Growing adoption in emerging markets, favorable government policies, and increasing demand for renewable energy further accelerate their deployment. As solar energy becomes a cornerstone of global energy strategies, the single-axis tracker segment is expected to maintain its strong market presence, especially in high-solar-radiation regions.

“North America to record second-highest CAGR in solar tracker market”

North America is expected to record the second-highest CAGR in the solar tracker market, driven by supportive policies, technological advancements, and increasing demand for renewable energy. The United States and Canada are leading this growth through substantial investments in utility-scale solar projects, backed by federal and state-level incentives, tax credits, and renewable energy mandates. The adoption of single-axis trackers, particularly in Texas and California, has become prevalent due to their cost-effectiveness and ability to enhance energy yield. Furthermore, integrating bifacial solar modules with tracking systems is gaining traction, offering improved efficiency and reduced levelized cost of electricity (LCOE). The region's focus on grid modernization and the expansion of smart grid infrastructure also contributes to the increased deployment of solar trackers. Additionally, the presence of key industry players and ongoing research and development efforts foster innovation and drive the market. As North America prioritizes clean energy transitions, the solar tracker market is poised for significant growth in the coming years.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:

By Company Type: Tier 1 - 40%, Tier 2 - 33%, and Tier 3 - 27%

By Designation: C-Level Executives - 50%, Directors - 30%, and Other Designations- 20%

By Region: North America - 15%, Europe - 30%, Asia Pacific - 40%, Latin America - 10%, and Middle East & Africa - 5%

Note: Other designations include product engineers, product specialists, and engineering leads.

The tiers of the companies are defined based on their total revenues as of 2023. Tier 1: >USD 1 billion, Tier 2: from USD 500 million to USD 1 billion, and Tier 3:

A few major players with a wide regional presence dominate the solar tracker market. The leading players in solar tracker market are Nextracker Inc. (US), Array Technologies Inc. (Mexico), PVHardware (Spain), Soltec (US), Gamechanger Solar (US), ARCTECH (China), FTC Solar (US), Valmont Industries, Inc. (US), All Earth Renewables (UK), Xiamen Grace Solar New Energy Technology Co., Ltd. (China), Sun Action Trackers (US), Trinasolar (China), ADES TEMPERO GROUP (Spain), Aivatechnology (US), and ArcelorMittal (Luxembourg),

Research Coverage:

The report defines, describes, and forecasts the solar tracker market by axis type and application for various regions. It also offers detailed qualitative and quantitative analyses of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the solar tracker market.

Key Benefits of Buying Report

• The solar tracker market is driven by the global transition to renewable energy, growing demand for high-efficiency solar power systems, and the pressing need to optimize energy output from photovoltaic installations. As utility-scale solar projects expand, solar trackers play a crucial role in enhancing power generation by adjusting panel orientation to follow the sun’s path. Increasing government support, favorable policies, and feed-in tariffs encourage solar adoption across developed and emerging economies. Additionally, integrating smart technologies, declining solar component costs, and the push to reduce the levelized cost of electricity (LCOE) are accelerating tracker deployment. The expansion of grid-connected solar farms, the growing demand for electricity, and the rising emphasis on sustainable infrastructure development further boost the market. With a strong focus on improving solar plant efficiency and maximizing return on investment, solar trackers have become a key component in the clean energy transition, driving market growth.
• Product Development/Innovation: The solar tracker market is centered on advancing precision, automation, and durability in tracking technologies to enhance solar energy output. Companies are developing smart tracking systems with real-time weather adaptation, machine learning algorithms, and remote monitoring capabilities to optimize panel orientation. Innovations include robust dual-axis trackers for higher yield and terrain-adaptive single-axis systems for challenging landscapes. Integration of IoT and AI enables predictive maintenance, reducing downtime and operational costs. Materials innovations focus on corrosion resistance and lightweight designs to extend system lifespan. These product developments ensure greater energy efficiency and play a vital role in accelerating solar adoption globally.
• Market Development: In April 2024, Nextracker launched the Industry’s first low-carbon solar tracker solution, the NX Horizon solar tracker system.
• Market Diversification: Array Technologies Inc. and Alupco AStrategic partnered to meet the growing demand for renewable energy in the Middle East.
• Competitive Assessment: Assessment of rankings - some key players, including Nextracker Inc. (US), Array Technologies Inc. (Mexico), PVHardware (Spain), Soltec (US), Gamechange Solar (US), ARCTECH (China), FTC Solar (US), Valmont Industries, Inc. (US), All Earth Renewables (UK), Xiamen Grace Solar New Energy Technology Co., Ltd. (China), and Sun Action Trackers (US).

Tables List

Table 1 Key Primary Interview Participants

Table 2 Solar Tracker Market Snapshot

Table 3 Influence Of Stakeholders On Buying Process, By Application

Table 4 Key Buying Criteria For Solar Tracker Applications

Table 5 Export Data For Hs Code 854143-compliant Products, By Country, 2022–2023 (Usd Thousand)

Table 6 Import Data For Hs Code 854143-compliant Products, By Country,

2022–2023 (Usd Thousand)

Table 7 Export Data For Hs Code 854142-compliant Products, By Country,

2022–2023 (Usd Thousand)

Table 8 Import Data For Hs Code 854142-compliant Products, By Country,

2022–2023 (Usd Thousand)

Table 9 Asia Pacific: List Of Regulatory Bodies, Government Agencies,

And Other Organizations

Table 10 North America: List Of Regulatory Bodies, Government Agencies,

And Other Organizations

Table 11 Europe: List Of Regulatory Bodies, Government Agencies,

And Other Organizations

Table 12 Row: List Of Regulatory Bodies, Government Agencies,

And Other Organizations

Table 13 Solar Tracker Market: List Of Major Conferences And Events,

2024–2025

Table 14 Solar Tracker Market, By Type, 2022–2029 (Usd Million)

Table 15 Grid-connected: Solar Tracker Market, By Region,

2022–2029 (Usd Million)

Table 16 Off-grid: Solar Tracker Market, By Region, 2022–2029 (Usd Million)

Table 17 Solar Tracker Market, By Axis Type, 2022–2029 (Usd Million)

Table 18 Single-axis: Solar Tracker Market, By Region, 2022–2029 (Usd Million)

Table 19 Dual-axis: Solar Tracker Market, By Region, 2022–2029 (Usd Million)

Table 20 Solar Tracker Market, By Application, 2022–2029 (Usd Million)

Table 21 Utility: Solar Tracker Market, By Region, 2022–2029 (Usd Million)

Table 22 Non-utility: Solar Tracker Market, By Region, 2022–2029 (Usd Million)

Table 23 Solar Tracker Market, By Region, 2022–2029 (Usd Million)

Table 24 North America: Solar Tracker Market, By Type, 2022–2029 (Usd Million)

Table 25 North America: Solar Tracker Market, By Axis Type,

2022–2029 (Usd Million)

Table 26 North America: Solar Tracker Market, By Application,

2022–2029 (Usd Million)

Table 27 North America: Solar Tracker Market, By Country,

2022–2029 (Usd Million)

Table 28 Europe: Solar Tracker Market, By Type, 2022–2029 (Usd Million)

Table 29 Europe: Solar Tracker Market, By Axis Type, 2022–2029 (Usd Million)

Table 30 Europe: Solar Tracker Market, By Application, 2022–2029 (Usd Million)

Table 31 Europe: Solar Tracker Market, By Country, 2022–2029 (Usd Million)

Table 32 Asia Pacific: Solar Tracker Market, By Type, 2022–2029 (Usd Million)

Table 33 Asia Pacific: Solar Tracker Market, By Axis Type,

2022–2029 (Usd Million)

Table 34 Asia Pacific: Solar Tracker Market, By Application,

2022–2029 (Usd Million)

Table 35 Asia Pacific: Solar Tracker Market, By Country,

2022–2029 (Usd Million)

Table 36 Latin America: Solar Tracker Market, By Type, 2022–2029 (Usd Million)

Table 37 Latin America: Solar Tracker Market, By Axis Type,

2022–2029 (Usd Million)

Table 38 Latin America: Solar Tracker Market, By Application,

2022–2029 (Usd Million)

Table 39 Latin America: Solar Tracker Market, By Country,

2022–2029 (Usd Million)

Table 40 Middle East & Africa: Solar Tracker Market, By Type,

2022–2029 (Usd Million)

Table 41 Middle East & Africa: Solar Tracker Market, By Axis Type,

2022–2029 (Usd Million)

Table 42 Middle East & Africa: Solar Tracker Market, By Application,

2022–2029 (Usd Million)

Table 43 Middle East & Africa: Solar Tracker Market, By Country,

2022–2029 (Usd Million)

Table 44 Strategies Adopted By Solar Tracker Manufacturers, 2019–2024

Table 45 Solar Tracker Market: Degree Of Competition, 2023

Table 46 Solar Tracker Market: Region Footprint

Table 47 Solar Tracker Market: Axis Type Footprint

Table 48 Solar Tracker Market: Application Footprint

Table 49 Solar Tracker Market: List Of Key Startups/Smes

Table 50 Solar Tracker Market: Competitive Benchmarking Of

Key Startups/Smes

Table 51 Solar Tracker Market: Product Launches, January 2019–june 2024

Table 52 Solar Tracker Market: Deals, January 2019–june 2024

Table 53 Solar Tracker Market: Expansions, January 2019–june 2024

Table 54 Nextracker Inc.: Company Overview

Table 55 Nextracker Inc.: Products/Solutions/Services Offered

Table 56 Nextracker Inc.: Product Launches

Table 57 Nextracker Inc.: Deals

Table 58 Nextracker Inc.: Expansions

Table 59 Array Technologies, Inc.: Company Overview

Table 60 Array Technologies, Inc.: Products/Solutions/Services Offered

Table 61 Array Technologies, Inc.: Deals

Table 62 Pvhardware: Company Overview

Table 63 Pvhardware: Products/Solutions/Services Offered

Table 64 Pvhardware: Deals

Table 65 Soltec: Company Overview

Table 66 Soltec: Products/Solutions/Services Offered

Table 67 Soltec: Product Launches

Table 68 Soltec: Deals

Table 69 Gamechange Solar: Company Overview

Table 70 Gamechange Solar: Products/Solutions/Services Offered

Table 71 Gamechange Solar: Deals

Table 72 Gamechange Solar: Expansions

Table 73 Arctech: Company Overview

Table 74 Arctech: Products/Solutions/Services Offered

Table 75 Arctech: Deals

Table 76 Ftc Solar: Company Overview

Table 77 Ftc Solar: Products/Solutions/Services Offered

Table 78 Ftc Solar: Product Launches

Table 79 Ftc Solar: Deals

Table 80 Valmont Industries, Inc.: Company Overview

Table 81 Valmont Industries, Inc.: Products/Solutions/Services Offered

Table 82 Valmont Industries, Inc.: Deals

Table 83 All Earth Renewables: Company Overview

Table 84 All Earth Renewables: Products/Solutions/Services Offered

Table 85 Xiamen Grace Solar New Energy Technology Co., Ltd.:

Company Overview

Table 86 Xiamen Grace Solar New Energy Technology Co., Ltd.: Products/Solutions/Services Offered

Table 87 Sun Action Trackers: Company Overview

Table 88 Sun Action Trackers: Products/Solutions/Services Offered

Table 89 Trinasolar: Company Overview

Table 90 Trinasolar: Products/Solutions/Services Offered

Table 91 Trinasolar: Deals

Table 92 Ades Tempero Group: Company Overview

Table 93 Ades Tempero Group Products/Solutions/Services Offered

Table 94 Aivatechology: Company Overview

Table 95 Aivatechology: Products/Solutions/Services Offered

Table 96 Arcelormittal: Company Overview

Table 97 Arcelormittal: Products/Solutions/Services Offered

Table 98 Gonvarri Solar Steel: Company Overview

Table 99 Mecasolar: Company Overview

Table 100 Asun Trackers Pvt. Ltd.: Company Overview

Table 101 Atec Robotics: Company Overview

Table 102 Shandong Zhaori New Energy Tech. Co., Ltd.: Company Overview

Table 103 Energy Xprt: Company Overview

Table 104 Optimum-tracker: Company Overview

Table 105 Trackers Feina S.L.: Company Overview

Table 106 Flexrack By Qcells, Llc: Company Overview

Table 107 Solargik Ltd.: Company Overview

Figures List

Figure 1 Solar Tracker Market Segmentation And Regional Scope

Figure 2 Solar Tracker Market: Research Design

Figure 3 Key Data From Secondary Sources

Figure 4 Key Data From Primary Sources

Figure 5 Breakdown Of Primaries: By Company Type, Designation, And Region

Figure 6 Key Data From Primary Sources

Figure 7 Market Size Estimation Methodology: Bottom-up Approach

Figure 8 Market Size Estimation Methodology: Top-down Approach

Figure 9 Supply-side Analysis

Figure 10 Demand-side Analysis

Figure 11 Solar Tracker Market: Data Triangulation

Figure 12 Solar Tracker Market: Factor Analysis

Figure 13 North America Accounted For Largest Share Of

Solar Tracker Market In 2023

Figure 14 Grid-connected Segment To Lead Solar Tracker Market In 2024

Figure 15 Dual-axis Segment To Register Higher Cagr In

Solar Tracker Market During Forecast Period

Figure 16 Utility Segment To Dominate Solar Tracker Market In 2024

Figure 17 Green Energy Goals To Boost Market Growth Between 2024 And 2029

Figure 18 Asia Pacific To Witness Highest Cagr During Forecast Period

Figure 19 Grid-connected Segment To Account Forlarger Market Share In 2029

Figure 20 Single-axis Segment To Capture Majority Of Market Share In 2029

Figure 21 Utility Segment To Grab Prominent Market Share In 2029

Figure 22 Drivers, Restraints, Opportunities, And Challenges

Insolar Tracker Market

Figure 23 Solar Tracker Market: Porter’s Five Forces Analysis

Figure 24 Influence Of Key Stakeholders On Buying Process, By Application

Figure 25 Key Buying Criteria For Solar Trackers, By Application

Figure 26 Solar Tracker Market: Supply Chain Analysis

Figure 27 Export Scenario For Hs Code 854143-compliant Products In

Top 5 Countries, 2022–2023 (Usd Thousand)

Figure 28 Import Scenario For Hs Code 854143-compliant Products In

Top 5 Countries, 2022–2023 (Usd Thousand)

Figure 29 Export Scenario For Hs Code 854142-compliant Products In

Top 5 Countries, 2022–2023 (Usd Thousand)

Figure 30 Import Scenario For Hs Code 854142-compliant Products In

Top 5 Countries, 2022–2023 (Usd Thousand)

Figure 31 Global Patent Publication Trend, 2018–2023

Figure 32 Global Jurisdiction Analysis

Figure 33 Nextracker Registered Highest Patent Count In 2023

Figure 34 Trends And Disruptions Influencing Customer Business

Figure 35 Grid-connected Segment To Lead Solar Tracker Market In 2024

Figure 36 Single-axis Solar Trackers To Dominate Market In 2024

Figure 37 Utility Applications To Dominate Solar Tracker Market In 2024

Figure 38 Asia Pacific To Register Highest Cagr In

Solar Tracker Marketduring Forecast Period

Figure 39 North America: Solar Tracker Market Snapshot

Figure 40 Asia Pacific: Solar Tracker Market Snapshot

Figure 41 Solar Tracker Market: Revenue Analysis Of

Top 5 Market Players, 2021–2023

Figure 42 Market Shre Analysis Of Top Companies In Solar Tracker Market, 2023

Figure 43 Solar Tracker Market: Financial Metrics (Ev/Ebitda)

Figure 44 Year-to-date (Ytd) Price Total Return And

5-year Stock Beta Ofkey Vendors

Figure 45 Brand/Product Comparative Analysis

Figure 46 Solar Tracker Market: Company Evaluation Matrix (Key Players), 2023

Figure 47 Solar Tracker Market: Company Footprint

Figure 48 Solar Tracker Market: Market Footprint

Figure 49 Solar Tracker Market: Company Evaluation Matrix

(Startups/Smes), 2023

Figure 50 Nextracker Inc.: Company Snapshot

Figure 51 Array Technologies, Inc.: Company Snapshot

Figure 52 Soltec: Company Snapshot

Figure 53 Arctech: Company Snapshot

Figure 54 Ftc Solar: Company Snapshot

Figure 55 Valmont Industries, Inc.: Company Snapshot

Figure 56 Trinasolar: Company Snapshot

Figure 57 Arcelormittal: Company Snapshot