Solar Tracker Market Size & Share 2025 to 2034

Solar Tracker Market Size

The global solar tracker market size was valued USD 50.1 billion in 2024 and is anticipated to grow to USD 111.4 billion in 2034, at a CAGR of 8.5%. Ability to significantly increase the efficiency and output of solar power systems along with decreasing costs of solar trackers will enhance the business statistics. They can increase the energy output of solar panels by 10-25% for single-axis and up to 40% for dual-axis systems compared to fixed-tilt systems.

Modern solar trackers can integrate with smart grid technologies and IoT, allowing for better monitoring, control, and optimization of energy production which will accelerate the business dynamics. As of PV Tech 2024, nearly 752GW of solar trackers will be installed between 2024 and 2030. Moreover, integration of bifacial panels with solar trackers will enhance the energy production, thereby augmenting the industry landscape.
 

Growing adoption of bifacial solar modules along with single axis trackers will reduce the levelized cost of electricity by approximately 16% in comparison to traditional monofacial systems, thereby augmenting the product demand. Further, innovations in solar trackers will significantly reshape the solar industry by reducing costs, improving efficiency, and expanding the potential for solar energy across diverse applications.
 

Integration with energy storage systems, introduction of hybrid systems and use of sustainable materials to reduce the environmental footprint will drive the market growth. Introduction of various mandates, incentive programs and initiatives including the U.S. Inflation Reduction Act or Australia’s Solar Sunshot program, will further bolster the business scenario.
 

Solar Tracker Market Trends

• The shift in focus of countries and businesses towards renewable energy has led to greater emphasis on the adoption of new technologies such as solar trackers. According to SEIA 2024, the adoption of solar photovoltaic (PV) technology has risen by 26% relative to the last year, and the prices fell by 40%.
   
• The adoption of sustainable renewable energy technologies aimed at carbon emission mitigation will promote further market development. For example, in 2024, RP Construction Services and Array Technologies installed more than 6 gigawatts (GW) of solar capacity in North America. Additionally, the development of new materials and control systems will increase the effectiveness and reliability of solar trackers, as well as reduce expenditure and time spent on maintenance, thereby improving the figures of this industry.
   
• Solar trackers are very beneficial for enormous utility scale solar farms since the increased cost at the outset is justified due to the extra produced energy and higher profits. For example, in June 2024, Nextracker acquired utility oriented renewable energy company Ojjo for USD 119 million.
   
• High levels of solar irradiance in regions comprising the North Africa, Middle East,  some parts of the United States, and Australia will boost the tracker installations. Moreover, government tax credits, subsidies, and other incentives will enhance the expected business environment in the coming times.
   

Solar Tracker Market Analysis

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Solar Tracker Market Size, By Product, 2022-2034 (USD Billion)

• Based on product, the solar tracker industry is segmented into Single and dual axis. The overall market amounted to USD 27.3 billion, USD 46.9 billion and USD 50.1 billion in 2022, 2023 and 2024. Single axis is anticipated to grow by more than USD 61 billion by 2034. These enhance the solar panel efficiency by up to 25-35% compared to fixed-tilt systems, making them highly attractive for maximizing energy output.
   
• Developments in the materials and design have made them increasingly reliable and durable leading to lower maintenance expenses and elongating the lifespan which strengthens the product adoption. In addition, the enhanced energy output, along with the efficiency improvement from the single-axis trackers, leads to better ROI from solar projects, which fosters the business environment. To cite an instance, in April 2022, Tata Power inaugurated a solar plant featuring India's largest single-axis solar tracker system.
   
• Dual axis trackers market will grow more than 10% CAGR by 2034 owing to supportive government policies, technological advancements and innovations in tracking technologies. Key features including self-cleaning mechanisms, cloud tracking, and advanced communication capabilities will drive the business scenario. For instance, in February 2023, Stracker Solar entered into an agreement with AFC Solar to install its advanced dual-axis solar tracker on for commercial and industrial solar sectors.
   

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Solar Tracker Market Share, By Application, 2024

• Based on application, the solar tracker market is segmented into residential, Commercial & Industrial and Utility. Utility accounted for 85.6% market share in 2024. Community solar projects, where multiple households share the benefits of a centrally located solar system with trackers, are becoming popular. Further, increasing integration with smart home systems, will allow homeowners to monitor and optimize their energy use more effectively.
   
• Residential is set to grow more than 11.5% by 2032 on account of demonstration projects and pilot programs in residential communities and innovative leasing and financing options that lower the upfront cost barrier for homeowners. Falling solar PV prices, new financing options, along with programs focused on low and moderate income households will augment the industry landscape.
   
• Commercial and industrial  market will grow on account of growing requirement for enhanced energy efficiency and global shift towards renewable energy sources. The innovation in engineering solar trackers will improve the performance, dependability, and cost value of the products. For example, in Germany, a restaurant was fitted with a 6 m mast and 30 x 450 W bifacial solar modules which were a part of the DEGER D100 dual axis solar tracking systems.
   

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• The U.S. solar tracker market accounted for USD 2.6 billion, USD 4.1 billion and USD 4.13 billion in 2022, 2023 and 2024 respectively. The North America market contributed over 8.5% of the market share in 2024. The industry environment will be boosted by positive policies, high solar resource availability, and large utility-scale projects being developed across the country.
   
• Active federal and state incentives along with the ongoing efforts to develop trackers which are cheaper and easier to use for the residential market will support the business environment. For citation, in 2024, FTC Solar along with Sandhills Energy provided 1P pioneer trackers for a total of 1 GW projects including 448 MW project in Burt county, 320 MW in Cass county and 225 MW project in Nebraska.
   
• Europe solar tracker market is set to grow more than USD 14 billion by 2034 driven by stringent renewable energy targets and supportive government policies. The EU renewable energy targets and national policies aiming for at least 32% of energy consumption to come from clean energy sources by 2030 will drive the adoption of efficient technologies, including trackers.
   
• Many countries in Asia Pacific region offer incentives including feed-in tariffs, subsidies, and tax credits to support the product deployment. The price of solar trackers has been declining, as a result of achieving greater efficiency in manufacturing and technological progress, which has greatly encouraged business activity in the region. For example, Arctech launched the SkyLine II solar tracking system in Australia in 2024.
   

Solar Tracker Market Share

• The top 5 players operating in the solar tracker industry include Nextracker, Arctech Solar, GameChange Solar, SOLTEC and Array Technologies. The companies will diversify their product portfolios to cater to different market segments and geographical regions. It will further focus on reducing production and installation costs to remain competitive in a price-sensitive market.
   
• The growing cooperation between IoT as well as AI together with integration into monitoring, control, and optimization of solar panels seems to be enhancing the industry metrics, as does the cooperation of the major firms with solar panel manufacturers for integrated solution services. Strategic joint ventures aimed at attaining new markets as well as utilizing local know-how and partnering with research and tech companies for innovation and increased product offerings also seem to drive the industry forward.
   

Solar Tracker Market Companies

• Arctech Solar is currently the world’s largest manufacturer of intelligent solar trackers, fixed-tilt structures, PV cleaning robots, and storage systems. The company holds more than 530 patents, and its annual manufacturing capacity is set at 30 GW. Currently, the company is constructing a solar tracker factory in Saudi Arabian, and the company hopes to have it running by 2025.
   
• GameChange Solar provides innovative solar trackers and fixed tilt mounting solutions offering superior engineering, innovative design, and high-volume manufacturing. There are over 43 GW of solar systems delivered, powering more than 7.3 million homes. Further, the company recently completed 10 GW genius tracker deployments in Gulf Of Mexico region.
   
• Scorpius Trackers constructs and innovates solar trackers for optimum durability and energy savings. The company has contracted more than 1,000 MW globally with approximately 99.5% uptime and 30% improved productivity. The company was purchased by Gensol Engineering in 2023 and further extended its operations into the US market by 2024.
   
• Nextracker provides software solutions with enhanced production yields boosting the plant production, improving monitoring and control capabilities. In 2024, the company shipped and delivered the industry’s first U.S. manufactured solar trackers which are anticipated to achieve 100% domestic content value for solar trackers under the Inflation Reduction Act (IRA).  Further, the company reported a revenue of USD 679 Million in the Q3 of FY2025.
   

Eminent players operating in the solar tracker industry are:

• ArcelorMittal
• Array Technologies
• Arctech
• All Earth Renewables
• Convert Italia
• Degerenergie
• GameChange Solar
• Gonvarri Solar Steel
• Haosolar
• Ideematec
• Mecasolar
• Nclave
• Nextracker
• Powerway Renewable Energy
• PVHardware
• Scorpius Trackers
• SmartTrak Solar Systems
• SOLTEC
• STI Norland
• SunPower Corporation
• Trina Solar
   

Solar Tracker Industry News

• In January 2025, Arctech Solar signed a supply agreement with Power China for the 1.5 GW Al Ajban project in the United Arab Emirates. The company will supply 1P single-axis solar tracking system SkyLine II and will be one of the largest single-site solar plants in the world. The deal will mark the company's presence in the Middle East, thereby supporting UAE's zero-emission Energy Strategy 2050. It is further anticipated to generate green electricity to meet the needs of 160,000 households and reduce carbon emissions by 2.4 million tonnes annually.
   
• In January 2025, GameChange Solar (GCS), a leading global supplier of solar tracker and fixed-tilt racking technology, evaluated the Genius Tracker system. The company’s procurement policies further should align with the NERC CIP-013-2 Supply Chain standard. In addition, the system’s robust architecture and detailed technical documentation need to support compliance with CIP-002-5.1a and CIP-003-8 standards to implement effective strategies.
   
• In January 2023, Hindware Home Innovation, India along with its joint venture company Group Atlantic, France commenced the operation of a Solar Tracker manufacturing facility in India. The Indo-French joint venture between the two firms had set up an investment of USD 25.62 million for the establishment of the plant able to manufacture 6 lakh units of heating appliances & water heaters. The state-of-the-art plant aims to cater the growing demand for water heaters across India, thereby strengthening the company’s presence across the country.
   
• In May 2022, GE Appliances launched a USD 70 million technologically advanced water heating manufacturing plant in South Carolina. The facility employed robotic material handling and metal working processes such as fabrication and welding to produce high quality water heaters and coils of steel for American homes. This expansion enabled the company to demonstrate its proficiency in mega projects in the United States, thus enabling the firm to maintain a strong competitive position in the industry.
   

Global Solar Tracker market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “USD Billion & MW” from 2021 to 2034, for the following segments:

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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 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
  • Nigeria
  • Algeria
  • Morocco
• Latin America
  • Brazil
  • Chile