Solar Tracker Market to Gain $29.31 Bn by 2030 with Booming CAGR Value of 26.2% - Exclusive Report by The Research Insights

CHICAGO, June 19, 2025 /PRNewswire/ -- The Solar Tracker Market is projected to be valued at USD 5.75 billion in 2023 and reach USD 29.31 billion by 2030, growing at a CAGR of 26.2% according to a new report by The Research Insights. This rapid expansion is driven by growing concerns about energy conservation and the shift towards renewable energy sources, as individuals and organizations alike seek sustainable alternatives to traditional non-renewable energy options.

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Solar Tracker Market growth of 26.2% comprises a vast array of Technology, Type, Application and Geography which are expected to register strength during the coming years.

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Market Overview and Growth Trajectory:

Solar Tracker Market Growth: According to an exhaustive report by The Research Insights, the Solar Tracker Market is experiencing significant growth. The global solar tracker industry expansion results from diverse current trends alongside technological progress that mirrors changing worldwide priorities. The transition toward clean energy fueled by international climate commitments and net-zero targets along with decarbonization efforts stands as a primary driver. Both governments and private sectors are rapidly investing in solar infrastructure especially in developing nations with high solar potential. Dual-axis solar trackers that integrate AI technologies are rapidly advancing which boosts energy efficiency and return on investment making these trackers more appealing. Agrivoltaics and floating solar projects are experiencing increased adoption because trackers allow for effective use of scarce land and water areas. The combination of solar trackers with IoT capabilities and smart grid systems enables adaptive energy production through real-time monitoring which supports smart city projects. The fluctuating prices of fossil fuels combined with escalating costs of grid electricity are motivating industries and utilities to adopt solar-based systems with self-sufficiency while taking advantage of the increased output solar trackers deliver. Current market movements illustrate the transition away from conventional solar setups to smarter and more flexible energy solutions that deliver superior performance.

The global market for solar trackers expands due to increasing worldwide demand for solar power as part of renewable energy solutions:
The growing need for renewable energy sources like solar power drives the global solar tracker market because they help reduce fossil fuel dependence and support climate change mitigation efforts. International organizations and national governments implement strict carbon emission reduction targets according to international accords like the Paris Climate Accord. Countries worldwide have invested heavily in solar energy infrastructure because solar photovoltaic (PV) systems serve as the main driver in their national energy transition efforts. Solar tracking systems enhance energy yield by 15–30% compared to stationary panels because they adjust solar panel angles throughout the day to follow the sun's movement which makes them a valuable investment for large-scale solar installations. The commitment by major economies including the U.S., EU, China, and India to reach net-zero emissions by 2050 is accelerating the deployment of solar tracking technology throughout developed and emerging markets.

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Progress in solar tracking systems technology coupled with reduced costs:
The solar tracker market expands rapidly due to technological advances that result in better efficiency and reduced costs while enhancing tracking system reliability. Advanced tracking systems today incorporate high-tech sensors along with machine learning and real-time data analytics to improve positioning accuracy while reducing energy waste from shading effects, dirt accumulation, and bad weather. Solar farm energy efficiency has improved because dual-axis tracking systems allow panels to follow the sun's path both horizontally and vertically unlike single-axis systems. Operators use Internet of Things (IoT) technologies and predictive maintenance software to monitor systems remotely which allows them to fix faults before they worsen thus minimizing operational downtime. Cost reductions in tracker components from manufacturing enhancements and economies of scale have made solar trackers more accessible financially for mid-sized projects. The recent developments have strengthened the appeal and economic feasibility of solar trackers for use in regions with abundant sunshine as well as moderate weather conditions.

Governmental policy frameworks and economic incentives stimulate the expansion of utility-scale solar projects:
Supportive policies combined with tax incentives and subsidies represent essential drivers for the solar tracker market advancement. Asian-Pacific nations along with countries in North America and Europe have put into place supportive laws to promote the use of solar tracking systems. The U.S. Inflation Reduction Act (IRA) establishes provisions that provide extended tax credits and manufacturing incentives to support the development of renewable energy structures such as solar trackers. Utility-scale solar farms are expanding which leads to a substantial increase in market demand. Solar plants with capacities of 10 MW and above gain maximum energy output from tracker systems which become vital components because of their high energy yield potential. India, Brazil, and South Africa as leading emerging economies are driving grid-scale solar project development through procurement models which include auctions and power purchase agreements (PPAs). Supportive measures establish favourable conditions for tracker adoption while promoting long-term market growth.

Geographical Insights: 

North America retains a commanding position in the international market which is expected to remain unchallenged until 2030. The expansion results from a growing emphasis on sustainable energy sources and the support of the Paris Agreement for renewable energy integration into the national energy framework.

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Global Solar Tracker Market Segmentation and Geographical Insights:

• Based on Type, the solar tracker market is divided into, Single Axis, and Dual Axis. The dual axis tracker market achieved a revenue share greater than 50.83%, which distinguished it from other solar tracking technologies. Analysts expect the dual axis tracker market segment to achieve peak Compound Annual Growth Rate (CAGR) throughout the forecast timeline.
• Based on Technology, the solar tracker market is divided into, Solar Photovoltaic (PV), Concentrated Solar Power (CSP), and Concentrated Photovoltaic (CPV). Solar Photovoltaic (PV) technology-maintained market domination in 2022 by controlling approximately 91.52% of the revenue share. The prominent position of PV technology results mainly from how PV cells integrate well with existing photovoltaic module technologies.
• Based on Application, the solar tracker market is divided into, Utility, and Non-utility. Solar tracker solutions generated most of their revenue from the utility sector which held more than 85.56% of the market share. The rising electricity prices combined with enhanced demand for renewable energy resources are likely to boost solar tracker adoption in the sector.
• The Solar Tracker Market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Key Players and Competitive Landscape:

The Global Solar Tracker Market is characterized by the presence of several major players, including:

• Abengoa Solar S.A.
• AllEarth Renewables
• Array Technologies Inc.
• DEGERenergie GmbH & Co. KG
• Nclave
• Powerway Renewable Energy Co. Ltd.
• Soltec Tracker
• SunPower Corporation
• Titan Tracker
• Trina Solar Limited

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

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Global Solar Tracker Market Recent Developments and Innovations:

• In May 2025, over 10 gigawatts (GW) of solar tracker deployments were surpassed by Nextracker in India, marking a significant milestone that reinforced its market leadership and highlighted the country's accelerating adoption of solar energy. In response to this growth, an 80,000 sq. ft. office and research and development (R&D) facility is being established in Hyderabad by Nextracker, further solidifying its long-term commitment to serving customers across the region and supporting India's clean energy future.
• In April 2024: Nextracker Inc. launched the NX Horizon solar tracker system, the industry's first low-carbon solar tracker solution. The product lowers construction emissions and preserves the natural landscape.
• In February 2023: PVHardware declared their intention to construct the world's biggest solar tracking factory in Spain. The facility will use 65,000 square meters of area. The company aims to expand its production capability to 25 GW to become the leading solar tracker manufacturer worldwide.
• In February 2023: The Osów project in Poland will utilize Solar Steel's TracSmarT + solar trackers in an agreement with Electrum to create what is believed to be Poland's largest solar tracking system with a total capacity of 21MW. The single-rowed solar trackers will produce enough power to supply 7,000 homes while cutting over 4,200 tons of carbon-di-oxide (Co2) emissions every year.
• In November 2022: Soltec, one of the world's largest manufacturers of solar trackers, entered into a strategic agreement with Enel Green Power España, the renewable energy subsidiary of the Spanish firm Endesa. This agreement involves establishing a new solar tracker production facility in the Aragon region of Spain.

Frequently Asked Questions (FAQs):

1.  What is the forecasted market size of the Solar Tracker Market in 2030?

• The forecasted market size of the Solar Tracker Market is USD 29.31 billion in 2030.

2.  Who are the leading players in the Solar Tracker Market?

• The key players in the Solar Tracker Market include, Abengoa Solar S.A.; AllEarth Renewables; Array Technologies Inc.; DEGERenergie GmbH & Co. KG; Nclave; Powerway Renewable Energy Co. Ltd.; Soltec Tracker; SunPower Corporation; Titan Tracker; and Trina Solar Limited.

3.  What are the major drivers for the Solar Tracker Market?

• The rapid expansion of the Solar Tracker market is driven by the growing concerns about energy conservation and the shift towards renewable energy sources, as individuals and organizations alike seek sustainable alternatives to traditional non-renewable energy options.

4.  Which is the largest region during the forecasted period in the Solar Tracker Market?

• North America currently holds a significant lead in the global market, with a trajectory indicating continued dominance through 2030.

5.  Which is the largest segment, by technology, during the forecasted period in the Solar Tracker Market?

• The Photovoltaic (PV) technology dominated the market landscape, boasting a significant revenue share of around 91.52%. 

Conclusion:

The market for solar trackers grows swiftly because of worldwide efforts to adopt renewable energy and the growing demand for more effective solar energy collection. The performance and reliability of solar tracker systems improve through technological progress in tracking mechanisms and the combined use of smart control systems with real-time data analysis. The expansion of utility-scale solar projects leads to higher demand for single-axis and dual-axis trackers because they deliver substantially greater energy output compared to fixed-tilt systems. Reduced tracker costs combined with labor and land optimization are driving faster adoption of solar tracking systems throughout different regions. The combination of solar tracking systems with IoT frameworks and cloud-based monitoring solutions facilitates predictive maintenance while optimizing energy production. Modern photovoltaic installations now depend on solar trackers as essential components to meet sustainable energy objectives and smart grid development while supporting the move toward low-carbon intelligent energy systems.

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The report from The Research Insights, therefore, provides several stakeholders— manufacturers, suppliers, government bodies, investors, utility companies, and end-users—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

With projected growth to US$ 29.31 billion by 2030, the Global Solar Tracker Market represents a significant opportunity for creators comprise startups, tech innovators, research institutions, and venture capitalists, can position themselves for success in this dynamic and evolving market landscape.

Check out more related studies published by The Research Insights:

• Solar Power Market: According to a new report by The Research Insights, the solar power market, rapid greenhouse gas emissions have heightened the focus on sustainable solutions which casts solar power as a promising source for a cleaner future. As consumers gain more knowledge about renewable energy benefits it is projected that technology demands will rise throughout the coming seven years which will accelerate solar power market expansion.
• Dual-Axis Solar Tracker Market: According to a new report by The Research Insights, the demand for high-efficiency electricity generation technologies such as CSP and CPV drives substantial growth expectations for the global dual-axis solar tracker market.

Browse More related reports on Energy & Power Industry Market Reports – https://www.theresearchinsights.com/categories/energy-power 

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