According to the research report, the global solar tracker market was valued at USD 6.58 billion in 2022 and is expected to reach USD25.32 billion by 2032, to grow at a CAGR of 14.4% during the forecast period.
Market Overview
The solar tracker market has witnessed significant expansion as the global shift toward renewable energy gains momentum. Solar trackers are devices that adjust the position of solar panels to follow the sun’s movement, optimizing energy capture and improving efficiency. Compared to fixed-tilt systems, solar trackers enhance solar panel performance by increasing energy generation. They are widely adopted in utility-scale and commercial solar power projects due to their ability to maximize power output.
The demand for solar trackers is driven by the growing adoption of solar energy as a sustainable alternative to fossil fuels. Governments and private entities are increasingly investing in solar power projects, further fueling the demand for advanced solar tracking systems.
Key Trends in the Solar Tracker Market:
- Shift Toward Dual-Axis Solar Trackers
While single-axis trackers dominate the market, dual-axis trackers are gaining popularity due to their ability to capture more sunlight throughout the day. This technology is particularly beneficial for concentrated solar power (CSP) and high-efficiency PV projects. - Integration of IoT and AI in Solar Tracking Systems
Smart solar trackers equipped with IoT and artificial intelligence (AI) capabilities enhance tracking precision and real-time performance monitoring. AI-driven tracking solutions enable predictive maintenance and optimize energy generation based on weather patterns. - Growing Adoption of Solar Trackers in Emerging Markets
Developing economies with high solar potential are increasingly adopting solar trackers to boost energy production. Countries in Asia-Pacific, Latin America, and the Middle East are witnessing rapid growth in solar installations, contributing to market expansion. - Hybrid Energy Solutions Incorporating Solar Trackers
The integration of solar trackers with hybrid renewable energy systems, including wind and battery storage, is becoming a notable trend. These hybrid solutions enhance energy reliability and sustainability.
Major Key Players:
- 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
𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:
https://www.polarismarketresearch.com/industry-analysis/global-solar-tracker-market
Recent Developments in the Solar Tracker Market:
- September 2021 – STI Norland Launches STI Control System
STI Norland introduced STI Control, an advanced software system designed for monitoring and controlling photovoltaic (PV) plants. This system enhances operational efficiency by providing real-time data and improved automation for solar tracking. - September 2022 – FTC Solar Unveils Pioneer Solar Tracker Module
FTC Solar, Inc., a leading provider of solar tracker systems, software, and engineering services, announced the launch of Pioneer, a new and innovative module for portrait (1P) solar trackers. This system aims to enhance solar tracking efficiency and adaptability, improving energy yield for solar power projects. - October 2024 – Powerway’s Solar Tracking System Passes Wind Tunnel Test
Powerway’s solar tracking system successfully passed the CPP wind tunnel test, demonstrating exceptional wind resistance. These tests, which simulate real-world wind speeds and orientations, confirm the structural integrity and safety of the system, ensuring reliable operation even in extreme weather conditions. - October 2024 – Trinasolar Earns Zero-Carbon and Zero-Waste Certifications
Trinasolar achieved zero-carbon factory and zero-waste landfill certifications from TÜV Rheinland, marking a significant milestone in sustainability. These certifications set new industry standards and reinforce Trinasolar’s commitment to environmental responsibility and sustainable development.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
The research study includes segmental analysis that divides the market into distinct groups or segments based on common characteristics. With market segmentation, businesses can identify specific customer groups that are more likely to be interested in specific products or services. Also, it enables these businesses to focus their marketing efforts and resources more efficiently, leading to higher conversion rates and improved return on investment. Furthermore, segmentation analysis helps companies develop personalized products or services, which can result in increased customer loyalty and improved customer satisfaction.
Solar Tracker Market, Type Outlook (Revenue – USD Billion, 2019-2032)
- Single Axis Solar Tracker
- Dual Axis Solar Tracker
Solar Tracker Market, Application Outlook (Revenue – USD Billion, 2019-2032)
- Residential
- Commercial
- Utility
The solar tracker market is expected to continue its upward trajectory as demand for renewable energy increases. The transition toward decarbonization, coupled with advancements in tracking technology, will drive further market growth. Continued research and development efforts will likely lead to more efficient, cost-effective, and durable solar tracking systems, making them an essential component of large-scale solar power projects.
𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
5G Testing Equipment Market Growth
Lithium-Ion Battery Market Forecast
Outdoor Power Equipment Market Analysis