Single Axis Solar Tracker Market
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The global single axis solar tracker market size was valued USD 31.4 Billion in 2024 and is estimated to grow at a CAGR of 7.1% from 2025 to 2034. Solar power systems employ single-axis solar trackers, mechanical devices that adjust the orientation of solar panels to follow the sun's trajectory across the sky. These consistently position panels at the optimal angle, enhancing the efficiency and energy output of solar installations, thereby maximizing sunlight capture throughout the day.
Expansion into emerging markets, especially in the Asia-Pacific, Middle East, and Africa, along with widespread adoption of utility scale projects driven by increasing energy needs, government incentives, and the availability of land for large-scale solar farms will complement the market growth. Increasingly, single-axis trackers are being integrated with energy storage systems. This combination allows solar power plants to store excess energy produced during the day and release it when demand is high, addressing the intermittency issues of solar power.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Single Axis Solar Tracker Market size in 2024: | USD 31.4 Billion |
| Forecast Period: | 2025 – 2034 |
| Forecast Period 2023 - 2032 CAGR: | 7.1 |
| 2023 Value Projection: | USD 61.6 Billion |
| Historical Data for: | 2021 – 2024 |
| No of Pages: | 100 |
| Tables, Charts & Figures: | 20 |
| Segments Covered: | Product, Application, and Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Increasing investment in clean energy, along with government initiatives and regulations play a significant role in promoting the product adoption. Growing fund allocation for research and development in the solar energy sector, including advancements in solar tracking technology will augment the market growth. These investments further support innovation and improve the efficiency and effectiveness of solar trackers, contributing to the business momentum.
The demand for renewable energy is rising as efforts to reduce carbon emissions and address climate change grow. Large companies are focusing on building efficient PV tracker systems to help lower residential electricity costs, driving product adoption. With suitable site and location conditions, these systems are highly efficient and suitable for both large- and small-scale projects. They generate more electricity than stationary systems due to improved sunlight exposure.
Based on product, the market is segmented into horizontal and vertical. Horizontal is anticipated to grow more than USD 50 Billion by 2034. Increasing awareness of environmental issues and the rising need to reduce carbon emissions have driven greater interest in solar energy. These units generate clean, sustainable electricity, supporting the global move toward a low-carbon economy and addressing climate change. The integration of advanced software and artificial intelligence to optimize the orientation of trackers and improve energy generation, is set to stimulate the business landscape.
Based on application, the single axis solar tracker market is segmented into residential, commercial & industrial and utility. Commercial & Industrial is anticipated to grow over CAGR 9% by 2034. Technological advancements, coupled with enhanced performance and cost-optimizing capabilities, are set to reshape the business landscape. For instance, in April 2022, Tata Power inaugurated a solar plant featuring India's largest single-axis solar tracker system. Strategically located near the unpredictable coastline of Gujarat, the project targets an annual reduction of 704,340 MT in CO2 emissions. Further, growing technical expertise and adept project management will stimulate the product demand.
The U.S. single axis solar tracker market is anticipated to grow over USD 55 Billion by 2034. Extreme weather and challenging locations are driving the demand for advanced single-axis solar trackers to meet the region's renewable energy needs. These trackers enhance energy production and often qualify for extra incentives and preferential treatment, accelerating their adoption. Growing government policies, subsidies, and incentives coupled with new product development with enhanced operational efficiency and reducing production costs will drive the market growth.
The competitive landscape in the single-axis solar tracker industry is dynamic, with several large companies vying for market share. Several companies are leading the single-axis solar tracker market, offering innovative solutions that aim to improve efficiency, reduce costs, and increase the scalability of solar installations. Technological innovation, cost optimization, and geographic expansion will continue to drive market competition in the coming years. Further, companies are investing heavily in R&D to enhance tracker efficiency, and innovations in materials and automation are expected to lower costs further, making solar energy even more competitive.
Eminent players operating in the Single axis solar tracker industry are:
Market, By Product, 2021 – 2034 (USD Million & MW)
Market, By Application, 2021 – 2034 (USD Million & MW)
The above information has been provided for the following regions and countries:
Key players in the market include Abengoa, ArcelorMittal, Arctech, Array Technologies, Inc., DEGERENERGIE GMBH & CO. KG, GameChange Solar, Gonvarri Solar Steel, Haosolar Co. Ltd, IDEEMATEC, MECASOLAR, and NCLAVE.
The U.S. single-axis solar tracker market is anticipated to exceed USD 55 billion by 2034, driven by the need for advanced trackers to address extreme weather conditions and challenging locations.
The horizontal single-axis solar tracker segment is expected to surpass USD 50 billion by 2034, supported by its ability to generate clean, sustainable electricity and contribute to the global shift toward a low-carbon economy.
The global single-axis solar tracker market was valued at USD 31.4 billion in 2024 and is projected to grow at a 7.1% CAGR from 2024 to 2034, driven by the increasing adoption of solar energy to reduce carbon emissions.