Solar Tracker Market Size - By Product (Single Axis {Horizontal, Vertical}, Dual Axis), By Technology (PV, CSP), By Application (Residential, Commercial & Industrial, Utility) & Global Forecast, 2023 – 2032

Solar Tracker Industry Analysis

Solar Tracker Market size was valued at USD 25.9 billion in 2022 and is projected to grow at 6% CAGR from 2023 to 2032. Solar tracker is a device mounted on solar panels that allows them to follow the sun’s trajectory to produce energy. Rising electricity demand, growing off grid electricity generation coupled with favorable government incentives toward clean energy implementation will drive the business statistics. Rising capital investments in solar energy projects especially across the utility sector will sway the market trends.
 

To get more details on this report: Request Free Sample PDF
 

Moreover, shifting consumer trends toward solar energy deployment across economies owing to rising awareness toward sustainable energy combined with surging industrial activities will continue to drive the business momentum.
 

COVID-19 Impact

The COVID-19 pandemic has had a minimal impact on the solar industry, resulting in a surge in the solar PV deployment. The global shipments for solar trackers have surged in number substantially leading to enhanced focus by major economies, to expand their manufacturing bases and overall value chains to comply with the anticipated post pandemic demand. For instance, in November 2021, Array Technologies acquired STI Norland to further strengthen it supply chains, thereby enabling strong market growth.
 

Solar Tracker Product Segmentation

To get more details on this report: Request Free Sample PDF
 

The single axis solar tracker market is anticipated to expand at 20% CAGR through 2032, on account of its highly reliability index and greater affordability. Growing requirement of these systems in tropical and high-altitude region will stimulate the industry landscape. Enhanced and better efficiency along with simple mechanism are some factors which strengthen the product installation. Further, the trackers are equipped with bifacial modules coupled with smart control software systems that will contribute to the product penetration in the coming times. For instance, Soltec, in 2020, introduced its bifacial single axis SF8 tracker that comes with a 4-6 string module connection. Furthermore, key factors including better consistency and extended lifetime will contribute to the business dynamics.
 

Solar Tracker Application Segmentation

To get more details on this report: Request Free Sample PDF
 

Residential solar tracker market will reach USD 9.5 billion by 2032. The highly efficient units are suitable for small-scale and large-scale projects depending upon the location and site conditions. Installation of efficient tracker systems by the key companies to save the electricity cost across the households will augment the product demand. For instance, GameChange Solar, in 2021, announced the first Genius Tracker project with a capacity of 394 MW, anticipated to supply clean solar power to the households across India.
 

Solar Tracker Technology Analysis

Photovoltaic solar trackers market is estimated to record over 17% share by 2032. The service providers across the industry are substantially focusing on technological innovations comprising environmental compatibility, enhanced power output, and unit optimization to strengthen the market growth. For instance, FTC Solar, in 2021, announced the supply of solar trackers for a 504 MW project along with 260 MW of AC power storage in Arizona. In addition, the growing precision of the PV systems along with consistency of the trackers will considerably enhance the performance of PV modules.
 

Solar Tracker Regional Analysis

Asia Pacific solar tracker market size will register at a CAGR of 3.5% till 2032, due to growing provision of federal tax credits, fiscal incentives, leveraging schemes along with utilization of renewables for power grid interconnection. Urgent requirement for government actions to meet with the increasing energy demand will institute a positive industry scenario thereby expanding the market size. For instance, Mexico, in 2020, announced its national strategy guidelines to cut back on the black carbon emissions coupled with substantial efforts to attain its GHG emission reduction targets.
 

High electricity demand and launch of large-scale solar projects by the major companies will strengthen the business landscape. For instance, Copenhagen Infrastructure Partners along with Greengate Power Corporation, in 2021, initiated the construction on Travers Solar, the largest solar PV project to be built in Canada.
 

Solar Tracker Industry Leaders

Strategic collaborations & partnerships along with ongoing technological development across the eminent players will foster the solar tracker market growth. The key industry participants include NEXTracker Inc., H2-Trina Solar, Powerway Renewable Energy Co., Ltd, MECASOLAR, SunPower Corporation, Array Technologies, Abengoa, Haosolar Co. Ltd, SmartTrak Solar Systems (Pvt) Ltd., SOLTEC, Scorpius Trackers, DEGERENERGIE GMBH & CO. KG, All Earth Renewables, Arctech, Convert Italia, PVHardware, STI Norland, GameChange Solar, Gonvarri Solar Steel, ArcelorMittal, IDEEMATEC, and NCLAVE.
 

Solar Tracker Industry News

• In January 2023, GameChange Solar launched 1P-2Row Genius Tracker which comes standard with preassembled components. It is designed owing to the demand of energy efficient & fast installation functions for certain projects and countries. Such reliable and innovative product development will boost the industry landscape for solar trackers.
   
• In December 2022, Artech signed a contract with BIPV solutions provider to deliver 2.8 GW of SkyLine II single-axis flagship solar trackers at a solar project in Gujarat. The 15GW project is estimating to be connected to the grid by Q3 2023. This product is built with pentagonal torque tube and addresses the issue such as instability faced in the early stages of plant construction & design. Therefore, the launch of the solar tracker has a long-term penetration across the market.
   

This solar tracker market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘MW and USD Million’ from 2019 to 2032 for the following segments:

Click here to Buy Section of this Report

Market, By Product

• Single Axis
  • Horizontal
  • Vertical
• Dual Axis

Market, By Technology

• PV
• CSP

Market, By Application

• Residential
• Commercial & Industrial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Netherlands
  • Germany
  • Sweden
  • Spain
  • Austria
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East
  • Saudi Arabia
  • UAE
  • Jordan
  • Israel
• Africa
  • South Africa
  • Egypt
  • Algeria
  • Nigeria
  • Morocco
• Latin America
  • Brazil
  • Chile