Solar Tracker Market Report

Global Solar Tracker Market Size

The size of the global solar tracker market was worth USD 11.63 billion in 2024. The global market is anticipated to grow at a CAGR of 23.28% from 2025 to 2033 and be worth USD 76.51 billion by 2033 from USD 14.34 billion in 2025.

A solar tracker is a program that places an item at an angle relative to the Sun. The most popular devices for solar trackers are the placement of photovoltaic (PV) screens (solar panels) such that they stay upright to the Sun's rays and the positioning of space telescopes so that they can determine the direction of the Sun. PV solar trackers change the way the solar panel is facing, depending on the location of the Sun in the sky. While having the glass opposite to the Sun, more illumination falls on the solar panel, less light is reflected, and more heat is absorbed. The power could be converted to electricity.

The massive increase in population over the last decade has had a direct influence on the amount of power consumed and generated. The capacity of each country's electricity generation has expanded at a healthy rate. Renewable energy sources that help minimize carbon emissions while still providing a cost-effective source of daily power are being considered the best feasible replacement for traditional power sources like coal and oil. Renewable energy sources currently account for roughly 29% of total global electricity generation. In the following years, it is predicted to rise significantly, boosting market growth.

The fundamental distinction between the two is that the quantity of time spent in direct sunlight increases. Furthermore, these systems tend to make better use of space, which is necessary for both fixed-tilt and moving systems. These features, together with the availability of single-axis and dual-axis trackers, give clients a variety of alternatives and are projected to fuel global market share during the forecast period.

MARKET DRIVERS

The increased environmental concerns made the power industry look for cleaner and greener energy sources. Solar power is one such sustainable resource, and the need for solar trackers to improve solar efficiency is the primary driving factor in the Solar Trackers market. The technological developments in the field, such as the development of single-axis solar trackers are another driving factor in the solar trackers market.

MARKET RESTRAINTS

The lack of reliable infrastructure in the industry is one restraint that's impeding market growth.

The high capital cost is another factor that can restrain the solar tracker market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

By Product Insights

Based on product, the Global Solar Tracker market is segmented into Single-Axis and Dual Axis. Out of these, Single-Axis is both the largest and the fastest-growing segment that registered a market share of over 60% in 2021. The segment is expected to expand at a CAGR of 17.4 during the forecast period of 2025 - 2033 as the single-axis tracker can precisely track the Sun on one axis which in turn will improve the efficiency by 24%. With the ability, the output is also increased, but one has to watch out for the capital and maintenance costs of this tracker before opting for it.

By Technology Insights

Based on Technology, the Global Solar Tracker market is segmented into Concentrated PV, Solar Photovoltaic (PV), and Concentrated Solar Power. Out of these, the Solar PV segment holds the majority of the market share in 2021, with over 45%. Also, Concentrated PV is expected to be the fastest-growing segment, with a CAGR of over 16.3%, which can be attributed to the low cost coupled with the need for fewer materials.

By Application Insights

The market is divided into utility, commercial, residential, and others based on application. Because solar grid integrations have grown prevalent in many countries, the utility segment is projected to lead the market. Fixed tilt is seen in freestanding systems and rooftop solar installations, obviating the need for trackers. According to the market analysis, the advent of DEG and VPP technologies, which function on the notion of decentralized power, is also predicted to draw investments in solar devices.

RECENT MARKET DEVELOPMENTS

North America has a significant market share, and then this pattern is expected to be prevalent during the forecast period. Growth is predominantly due to the increasing focus on sustainable energy as well as the Paris Agreement on Global Warming (Climate Change), which suggested the use of clean energy sources in the country's energy production.

The United States government is working to expand the use of solar energy in the country via several programs. In 2011, the U.S. The Department of Energy (DOE) introduced its SunShot project to make the solar industry cost-effective with fossil fuel energy sites by decreasing costs to below USD/watt by 2021.

KEY MARKET PLAYERS

A few of the major companies in the global solar tracker market include

1. NEXTracker Inc
2. PVHardware
3. Soltec Trackers
4. Convert Italia
5. Gonvarri Steel Services
6. Array Technologies Inc
7. Arctech Solar
8. Nclave renewable
9. STI Norland
10. GameChange Solar

RECENT MARKET DEVELOPMENTS

• Trina Solar has introduced the TrinaTracker Agile 1P Dual Row, a dual-row, one-in-portrait, single-axis tracker that works with modules ranging from 400 to 670 watts. After the Vanguard series debuted in December, the agile series joined the TrinaTracker family.

MARKET SEGMENTATION

This research report on the global solar tracker market has been segmented and sub-segmented based on product, technology, application and region.

By Product

• Single Axis
• Duel Axis

By Technology

• Concentrated PV
• Solar Photovoltaic (PV)
• Concentrated Solar Power

By Application

• Utility
• Commercial
• Residential
• Others

By Country

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa