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Solar Tracker Market

Global Solar Tracker Market Share, Size, Report: By Technology: Solar PV, Concentrator Photovoltaic (CPV), Concentrated Solar Power (CSP), Others; By Application: Utility, Non-Utility; By Product: Single Axis, Dual Axis; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Solar Tracker Market Outlook

The global solar tracker market was estimated at USD 6.28 Billion in 2023 and is expected to grow at a CAGR of 28.1% in the forecast period of 2024-2032.

 

Global Solar Tracker Market

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The solar tracker market is driven by the increasing need for solar cells or photovoltaic cells and solar tracker benefits such as improved cell performance. Photovoltaic cells are used with the help of sunlight to transform solar energy into a flow of electrons.

 

Market Segmentation

A solar tracker is a device directed toward the sun by a payload. Trackers are used to enable optical components in CPV and CSP systems in concentrator photovoltaics (CPV) and concentrated solar power (CSP) applications.

 

Global Solar Tracker Market By Application

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The solar tracker market can be segmented into technology, applications, and products. The industry can be broadly categorised based on technology into:

  • Solar PV
  • Concentrator Photovoltaic (CPV)
  • Concentrated Solar Power (CSP)
  • Others

The industry can be divided based on applications as:

  • Utility 
  • Non-Utility
  • Others

Based on the products, the industry can be divided into:

  • Single Axis
  • Dual Axis

The EMR report looks into the regional solar tracker markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific regions.

 

Global Solar Tracker Market By Region

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Market Analysis

The solar tracker market is driven by the rapid increase in the use of solar trackers. Solar monitor in the direction of the sun guides solar panels or modules. The two types of material used for this purpose are the single axis and dual axis. The former product category is commonly used as it is fairly cost-effective and easy to install and run. Due to the increasing number of installed capacities, Europe and North America had a significant market share in the past years and are projected to increase impressively during the forecast period. In addition, one of the key drivers of consumer demand in these regions is the favourable legislation for installing solar trackers. It is predicted that the involvement of well-established companies in North America, increasing R&D programs, strict regulations for regulating environmental emissions, and the increased funding, feed-in tariffs, and government subsidies will further push the solar tracker market over the forecast period. Favourable government regulations are projected to have a positive impact on the industry growth in most regions around the globe. In addition, the increasing numbers of government incentives to encourage the value and use of solar panels are also projected to boost the solar tracker market development.

 

Competitive Landscape

The report presents a detailed analysis of the following key players in the global solar tracker market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • SunPower Corporation
  • Array Technologies Inc.
  • AllEarth Renewables, Inc.
  • Deger Energie GMBH & CO. KG
  • Nextracker Inc.
  • PV Hardware Solutions, S.L.U.
  • Abengoa S.A.
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter's Five Forces model.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Technology
  • Application
  • Product
  • Region
Breakup by Technology
  • Solar PV
  • Concentrator Photovoltaic (CPV)
  • Concentrated Solar Power (CSP)
  • Others
Breakup by Application
  • Utility
  • Non-Utility
  • Others
Breakup by Product
  • Single Axis
  • Dual Axis
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • SunPower Corporation
  • Array Technologies Inc.
  • AllEarth Renewables, Inc.
  • Deger Energie GMBH & CO. KG
  • Nextracker Inc.
  • PV Hardware Solutions, S.L.U.
  • Abengoa S.A.
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

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Solar Tracker Market Report Snapshots

Solar Tracker Market Size

Solar Tracker Market Analysis

Solar Tracker Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Solar Tracker Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Solar Tracker Historical Market (2018-2023) 
    8.3    Global Solar Tracker Market Forecast (2024-2032)
    8.4    Global Solar Tracker Market by Technology
        8.4.1    Solar PV
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Concentrator Photovoltaic (CPV)
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Concentrated Solar Power (CSP)
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Others
    8.5    Global Solar Tracker Market by Application
        8.5.1    Utility  
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Non-Utility
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Others
    8.6    Global Solar Tracker Market by Product
        8.6.1    Single Axis
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Dual Axis
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032) 
    8.7    Global Solar Tracker Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023)
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Solar Tracker Market Analysis
    9.1    United States of America
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Solar Tracker Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Solar Tracker Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Solar Tracker Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Solar Tracker Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    SunPower Corporation  
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Array Technologies Inc.   
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    AllEarth Renewables, Inc.  
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Deger Energie GMBH & CO. KG  
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Nextracker Inc.   
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    PV Hardware Solutions, S.L.U.  
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Abengoa S.A.
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    Others
17    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Solar Tracker Market: Key Industry Highlights, 2017 and 2021
2.    Global Solar Tracker Historical Market: Breakup by Technology (USD Million), 2018-2023
3.    Global Solar Tracker Market Forecast: Breakup by Technology (USD Million), 2024-2032
4.    Global Solar Tracker Historical Market: Breakup by Application (USD Million), 2018-2023
5.    Global Solar Tracker Market Forecast: Breakup by Application (USD Million), 2024-2032
6.    Global Solar Tracker Historical Market: Breakup by Product (USD Million), 2018-2023
7.    Global Solar Tracker Market Forecast: Breakup by Product (USD Million), 2024-2032
8.    Global Solar Tracker Historical Market: Breakup by Region (USD Million), 2018-2023
9.    Global Solar Tracker Market Forecast: Breakup by Region (USD Million), 2024-2032
10.    North America Solar Tracker Historical Market: Breakup by Country (USD Million), 2018-2023
11.    North America Solar Tracker Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Europe Solar Tracker Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Europe Solar Tracker Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Asia Pacific Solar Tracker Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Asia Pacific Solar Tracker Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Latin America Solar Tracker Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Latin America Solar Tracker Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Middle East and Africa Solar Tracker Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Middle East and Africa Solar Tracker Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Global Solar Tracker Market Structure

Key Questions Answered in the Report

The global solar tracker market reached the value of about USD 6.28 Billion in 2023.

The market is projected to grow at a CAGR of 28.1% between 2024 and 2032.

The major drivers of the market include increasing research and development programs, strict regulations regarding environmental emissions, increased funding, feed-in tariffs, and subsidies by various governments.

The increasing need for solar cells or photovoltaic cells and solar tracker benefits such as improved cell performance is expected to be a key trend guiding the growth of the market.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The technology-based classifications of solar trackers available are solar PV, concentrator photovoltaic (CPV), and concentrated solar power (CSP), amongst others.

Solar trackers find applications in utility, and non-utility, amongst others.

There are single axis and dual axis products for solar trackers.

The leading players in this market are SunPower Corporation, Array Technologies Inc., AllEarth Renewables, Inc., Deger Energie GMBH & CO. KG, Nextracker Inc., PV Hardware Solutions, S.L.U., Abengoa S.A., Others.

Analyst Review

The global solar tracker market is estimated at USD 6.28 Billion in 2023, driven by the include increasing R&D programs, strict regulations for regulating environmental emissions, and the increased funding, feed-in tariffs, and government subsidies. Aided by the increasing need for solar cells or photovoltaic cells and solar tracker benefits such as improved cell performance, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 28.1%.

EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on technology, the solar trackers market can be segmented into solar PV, concentrator photovoltaic (CPV), and concentrated solar power (CSP), amongst others. By application, the industry can be divided into utility, and non-utility, amongst others. There are single axis and dual axis products for solar trackers. The major regional markets in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific. The leading players in this market are SunPower Corporation, Array Technologies Inc., AllEarth Renewables, Inc., Deger Energie GMBH & CO. KG, Nextracker Inc., PV Hardware Solutions, S.L.U., Abengoa S.A., Others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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