The global solar tracker market is expected to grow at a CAGR of around 12.5% during 2024-2033. This report on global solar tracker market report provides holistic understanding of the market along with market sizing, forecast, drivers, challenges, and competitive landscape. The report presents a clear picture of the global solar tracker market by segmenting the market based on technology, type, movement, application and region. Also, detailed profiles of companies operating in the solar tracker market are provided in this report. We believe that this report will aid the professionals and industry stakeholders in making informed decision.
Market Drivers
The primary driver for the solar tracker market is the increasing adoption of solar energy. As the world shifts towards cleaner and more sustainable energy sources, solar power has emerged as a pivotal solution to mitigate greenhouse gas emissions and address climate change. Solar trackers play a vital role in this transition by optimizing the efficiency of solar panels. Additionally, the growing demand for solar trackers is fueled by the continuous advancements in technology within the renewable energy sector. These innovations have played a key role in enhancing the efficiency and appeal of solar tracker systems, driving their adoption across various applications. One notable technological advancement is the development of more efficient tracking algorithms and control systems.
Market Restraints
Undoubtedly, the substantial initial cost associated with solar trackers represents a significant barrier to the growth of the solar tracker market. These costs typically encompass not only the acquisition of the trackers themselves but also installation, infrastructure, and ongoing maintenance expenses. While solar trackers are instrumental in enhancing energy production and efficiency, their higher upfront investment compared to fixed tilt systems can be daunting. Solar trackers are engineered to dynamically follow the sun’s path, requiring more space and land than fixed-tilt solar panel systems. This spatial requirement can pose challenges in densely populated areas or regions with land use restrictions. Moreover, the necessity for additional space can escalate project development costs, particularly in urban or land-constrained areas where available land comes at a premium.
Market Opportunities
The growing prominence of the solar energy sector is a key factor fueling the demand for solar trackers. As the industry expands and matures, solar tracker systems are increasingly acknowledged as crucial elements for optimizing energy output and improving the overall efficiency of solar installations. This recognition has led to a significant surge in the solar tracker market, driven by the rising awareness among consumers of the benefits associated with solar energy, particularly the role played by solar trackers in maximizing these benefits. Informed consumers now understand that solar trackers offer more than just technological innovation; they represent a pathway to increased energy production and financial savings. By dynamically tracking the sun’s path, solar trackers optimize the efficiency of solar panel systems, leading to higher electricity generation and faster returns on investment.
Recent Industry Development
- In Feb 2023, PV Hardware (PVH), a prominent solar PV tracker manufacturer under Spain’s Gransolar Group, intends to construct the world’s largest solar tracker factory in Valencia, Spain.
- In Feb 2023, Solar Steel and Electrum have entered into an agreement, under which Solar Steel will provide its TracSmarT+ solar trackers, with a 21MW capacity, for the Osów project. This project is set to become the largest solar tracking initiative in Poland.
Historical & Forecast Period
Base Year: 2023
Historical Period: 2019-2023
Forecast Period: 2024-2033
Report’s Unit: US$
Global Solar Tracker Market Segmentation
Market by Technology
- Solar Photovoltaic (PV)
- Concentrated Solar Power (CSP)
- Concentrated Photovoltaic (CPV)
Market by Type
- Active Solar Tracker
- Passive Solar Tracker
Market by Movement
- Single Axis Tracker
- Double Axis Tracker
Market by Application
- Utility
- Commercial
- Residential
Market by Region
Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Rest of Asia Pacific
Latin America
- Mexico
- Brazil
- Argentina
- Chile
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- Turkey
- Iran
- United Arab Emirates
- Rest of Middle East & Africa
List of Mentioned Companies
- Arctech Solar Holding Co., Ltd.
- Array Technologies, Inc.
- Convert Italia (Valmont)
- GameChange Solar
- Gonvarri Steel Services
- NCLAVE Renewable
- NEXTracker, Inc.
- PVHardware
- Soltec Trackers (Soltec Power Holdings SA)
- STI Norland (Array Technologies)
Report Coverage
| Report Feature | Details |
| Base Year | 2023 |
| Historical Period | 2019-2022 |
| Forecast Period | 2024-2033 |
| Units | US$ Million |
| Segments Covered | Technology, Type, Movement, Application, Region |
| Region Covered | Europe, North America, Asia Pacific, Latin America, Middle East and Africa |
| Companies Covered | Arctech Solar Holding Co., Ltd., Array Technologies, Inc., Convert Italia (Valmont), GameChange Solar, Gonvarri Steel Services, NCLAVE Renewable, NEXTracker, Inc., PVHardware, Soltec Trackers (Soltec Power Holdings SA), STI Norland (Array Technologies) |
| Purchase Options | Single User License: US$ 2,999 Five User License: US$ 3,499 Corporate License: US$ 4,499 |
Research Methodology
During the course of the research study, we conducted extensive primary and secondary research. The research commenced with extensive exploration through secondary sources followed by primary research. With these research methods, we were able to estimate the market size, to identify the factors that promote the growth in this market as well as the factors that hamper the growth in the market.
Comprehensive primary and secondary methods helped us to identify the trends in the market and to project the opportunities that the key players may get during the forecast period. Apart from these approaches, various analytical and statistical approaches were also used during data extraction cleaning, and analysis.
Post-secondary & primary research, we conducted expert interviews to validate all the information we collected during the course of the study. So, a blend of these three-way approaches helped us in data triangulation and to provide an accurate market scenario in our report.
Key Questions Answered in the Report
- What will be the global solar tracker market size and the growth rate in the coming year?
- What are the main key factors driving the market?
- What are the key market trends impacting the growth of the market?
- What are the market opportunities and threats in the market?
- What industrial trends, drivers, and challenges are manipulating its growth?
- Which are trending factors influencing the market shares of the top regions across the globe?
- Who are the key market players in the industry?
- What is the impact of Covid19 on the current industry?
1. Preface
1.1 Objective
1.2 Target Audience & Key Offerings
1.3 Report’s Scope
1.4 Research Methodology
1.4.1 Phase I
1.4.2 Phase II
1.4.3 Phase III
1.5 Assumptions
2. Key Insights
2.1. Global Market in 2023
2.2. Impact of COVID-19
2.3. Growth Opportunities and Challenges
2.4. Key Industry Trends
3. Global Solar Tracker Market Dynamics
3.1. Introduction
3.2. Market DROs
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.3. Industry Trends
3.4. SWOT Analysis
3.5. Market Value Chain Analysis
3.6. Porter’s Five Forces Analysis
3.7. PESTLE Analysis
3.8. Key Price Indicators
3.9. Ansoff Matrix
3.10. Government Laws and Industry Regulations
4. Global Solar Tracker Market Analysis
4.1. Market Portraiture
4.2. Market Size (US$ Million, 2019-2023)
4.3. Market Forecast (US$ Million, 2024-2033)
4.4. Impact of COVID-19
4.5. Impact of Russia-Ukraine War
5. Global Solar Tracker Market by Technology (US$ Million, 2019-2033)
5.1. Introduction
5.2. Solar Photovoltaic (PV)
5.3. Concentrated Solar Power (CSP)
5.4. Concentrated Photovoltaic (CPV)
5.5. Key Segment Investment Opportunity
6. Global Solar Tracker Market by Type (US$ Million, 2019-2033)
6.1. Introduction
6.2. Active Solar Tracker
6.3. Passive Solar Tracker
6.4. Key Segment Investment Opportunity
7. Global Solar Tracker Market by Movement (US$ Million, 2019-2033)
7.1. Introductions
7.2. Single Axis Tracker
7.3. Double Axis Tracker
7.4. Key Segment Investment Opportunity
8. Global Solar Tracker Market by Application (US$ Million, 2019-2033)
8.1. Introduction
8.2. Utility
8.3. Commercial
8.4. Residential
8.5. Key Segment Investment Opportunity
9. Global Solar Tracker Market by Region (US$ Million, 2019-2033)
9.1. Introduction
9.2. Europe
9.3. North America
9.4. Asia Pacific
9.5. Latin America
9.6. Middle East & Africa
9.7. Key Segment Investment Opportunity
10. Europe Solar Tracker Market (US$ Million, 2019-2033)
10.1. Introduction
10.2. Key Drivers and Takeaways
10.3. Europe Market Breakup by Technology
10.4. Europe Market Breakup by Type
10.5. Europe Market Breakup by Movement
10.6. Europe Market Breakup by Application
10.7. Europe Market Breakup by Country
10.7.1. Germany
10.7.2. United Kingdom
10.7.3. France
10.7.4. Italy
10.7.5. Spain
10.7.6. Russia
10.7.7. Netherlands
10.7.8. Sweden
10.7.9. Poland
10.7.10. Rest of Europe
11. North America Solar Tracker Market (US$ Million, 2019-2033)
11.1. Introduction
11.2. Key Drivers and Takeaways
11.3. North America Market Breakup by Technology
11.4. North America Market Breakup by Type
11.5. North America Market Breakup by Movement
11.6. North America Market Breakup by Application
11.7. North America Market Breakup by Country
11.7.1. United States
11.7.2. Canada
12. Asia Pacific Solar Tracker Market (US$ Million, 2019-2033)
12.1. Introduction
12.2. Key Drivers and Takeaways
12.3. Asia Pacific Market Breakup by Technology
12.4. Asia Pacific Market Breakup by Type
12.5. Asia Pacific Market Breakup by Movement
12.6. Asia Pacific Market Breakup by Application
12.7. Asia Pacific Market Breakup by Country
12.7.1. China
12.7.2. Japan
12.7.3. India
12.7.4. South Korea
12.7.5. Australia
12.7.6. ASEAN
12.7.7. Rest of Asia Pacific
13. Latin America Solar Tracker Market (US$ Million, 2019-2033)
13.1. Introduction
13.2. Key Drivers and Takeaways
13.3. Latin America Market Breakup by Technology
13.4. Latin America Market Breakup by Type
13.5. Latin America Market Breakup by Movement
13.6. Latin America Market Breakup by Application
13.7. Latin America Market Breakup by Country
13.7.1. Mexico
13.7.2. Brazil
13.7.3. Argentina
13.7.4. Chile
13.7.5. Rest of Latin America
14. Middle East and Africa Solar Tracker Market (US$ Million, 2019-2033)
14.1. Introduction
14.2. Key Drivers and Takeaways
14.3. Middle East and Africa Market Breakup by Technology
14.4. Middle East and Africa Market Breakup by Type
14.5. Middle East and Africa Market Breakup by Movement
14.6. Middle East and Africa Market Breakup by Application
14.7. Middle East and Africa Market Breakup by Country
14.7.1. Saudi Arabia
14.7.2. Turkey
14.7.3. Iran
14.7.4. United Arab Emirates
14.7.5. Rest of Middle East & Africa
15. Competitive Landscape
15.1. Competitive Dashboard
15.2. Key Industry Strategies Analysis
15.3. Recent Developments
15.4. Market Scenario
16. Company Profiles
16.1. Arctech Solar Holding Co., Ltd.
16.2. Array Technologies, Inc.
16.3. Convert Italia (Valmont)
16.4. GameChange Solar
16.5. Gonvarri Steel Services
16.6. NCLAVE Renewable
16.7. NEXTracker, Inc.
16.8. PVHardware
16.9. Soltec Trackers (Soltec Power Holdings SA)
16.10. STI Norland (Array Technologies)
- Description
-
The global solar tracker market is expected to grow at a CAGR of around 12.5% during 2024-2033. This report on global solar tracker market report provides holistic understanding of the market along with market sizing, forecast, drivers, challenges, and competitive landscape. The report presents a clear picture of the global solar tracker market by segmenting the market based on technology, type, movement, application and region. Also, detailed profiles of companies operating in the solar tracker market are provided in this report. We believe that this report will aid the professionals and industry stakeholders in making informed decision.
Market Drivers
The primary driver for the solar tracker market is the increasing adoption of solar energy. As the world shifts towards cleaner and more sustainable energy sources, solar power has emerged as a pivotal solution to mitigate greenhouse gas emissions and address climate change. Solar trackers play a vital role in this transition by optimizing the efficiency of solar panels. Additionally, the growing demand for solar trackers is fueled by the continuous advancements in technology within the renewable energy sector. These innovations have played a key role in enhancing the efficiency and appeal of solar tracker systems, driving their adoption across various applications. One notable technological advancement is the development of more efficient tracking algorithms and control systems.
Market Restraints
Undoubtedly, the substantial initial cost associated with solar trackers represents a significant barrier to the growth of the solar tracker market. These costs typically encompass not only the acquisition of the trackers themselves but also installation, infrastructure, and ongoing maintenance expenses. While solar trackers are instrumental in enhancing energy production and efficiency, their higher upfront investment compared to fixed tilt systems can be daunting. Solar trackers are engineered to dynamically follow the sun’s path, requiring more space and land than fixed-tilt solar panel systems. This spatial requirement can pose challenges in densely populated areas or regions with land use restrictions. Moreover, the necessity for additional space can escalate project development costs, particularly in urban or land-constrained areas where available land comes at a premium.
Market Opportunities
The growing prominence of the solar energy sector is a key factor fueling the demand for solar trackers. As the industry expands and matures, solar tracker systems are increasingly acknowledged as crucial elements for optimizing energy output and improving the overall efficiency of solar installations. This recognition has led to a significant surge in the solar tracker market, driven by the rising awareness among consumers of the benefits associated with solar energy, particularly the role played by solar trackers in maximizing these benefits. Informed consumers now understand that solar trackers offer more than just technological innovation; they represent a pathway to increased energy production and financial savings. By dynamically tracking the sun’s path, solar trackers optimize the efficiency of solar panel systems, leading to higher electricity generation and faster returns on investment.
Recent Industry Development
- In Feb 2023, PV Hardware (PVH), a prominent solar PV tracker manufacturer under Spain’s Gransolar Group, intends to construct the world’s largest solar tracker factory in Valencia, Spain.
- In Feb 2023, Solar Steel and Electrum have entered into an agreement, under which Solar Steel will provide its TracSmarT+ solar trackers, with a 21MW capacity, for the Osów project. This project is set to become the largest solar tracking initiative in Poland.
Historical & Forecast Period
Base Year: 2023
Historical Period: 2019-2023
Forecast Period: 2024-2033
Report’s Unit: US$
Global Solar Tracker Market Segmentation
Market by Technology
- Solar Photovoltaic (PV)
- Concentrated Solar Power (CSP)
- Concentrated Photovoltaic (CPV)
Market by Type
- Active Solar Tracker
- Passive Solar Tracker
Market by Movement
- Single Axis Tracker
- Double Axis Tracker
Market by Application
- Utility
- Commercial
- Residential
Market by Region
Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Rest of Asia Pacific
Latin America
- Mexico
- Brazil
- Argentina
- Chile
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- Turkey
- Iran
- United Arab Emirates
- Rest of Middle East & Africa
List of Mentioned Companies
- Arctech Solar Holding Co., Ltd.
- Array Technologies, Inc.
- Convert Italia (Valmont)
- GameChange Solar
- Gonvarri Steel Services
- NCLAVE Renewable
- NEXTracker, Inc.
- PVHardware
- Soltec Trackers (Soltec Power Holdings SA)
- STI Norland (Array Technologies)
Report Coverage
Report Feature Details Base Year 2023 Historical Period 2019-2022 Forecast Period 2024-2033 Units US$ Million Segments Covered Technology, Type, Movement, Application, Region Region Covered Europe, North America, Asia Pacific, Latin America, Middle East and Africa Companies Covered Arctech Solar Holding Co., Ltd., Array Technologies, Inc., Convert Italia (Valmont), GameChange Solar, Gonvarri Steel Services, NCLAVE Renewable, NEXTracker, Inc., PVHardware, Soltec Trackers (Soltec Power Holdings SA), STI Norland (Array Technologies) Purchase Options Single User License: US$ 2,999
Five User License: US$ 3,499
Corporate License: US$ 4,499Research Methodology
During the course of the research study, we conducted extensive primary and secondary research. The research commenced with extensive exploration through secondary sources followed by primary research. With these research methods, we were able to estimate the market size, to identify the factors that promote the growth in this market as well as the factors that hamper the growth in the market.
Comprehensive primary and secondary methods helped us to identify the trends in the market and to project the opportunities that the key players may get during the forecast period. Apart from these approaches, various analytical and statistical approaches were also used during data extraction cleaning, and analysis.
Post-secondary & primary research, we conducted expert interviews to validate all the information we collected during the course of the study. So, a blend of these three-way approaches helped us in data triangulation and to provide an accurate market scenario in our report.Key Questions Answered in the Report
- What will be the global solar tracker market size and the growth rate in the coming year?
- What are the main key factors driving the market?
- What are the key market trends impacting the growth of the market?
- What are the market opportunities and threats in the market?
- What industrial trends, drivers, and challenges are manipulating its growth?
- Which are trending factors influencing the market shares of the top regions across the globe?
- Who are the key market players in the industry?
- What is the impact of Covid19 on the current industry?
- Table of Contents
-
1. Preface
1.1 Objective
1.2 Target Audience & Key Offerings
1.3 Report’s Scope
1.4 Research Methodology
1.4.1 Phase I
1.4.2 Phase II
1.4.3 Phase III
1.5 Assumptions
2. Key Insights
2.1. Global Market in 2023
2.2. Impact of COVID-19
2.3. Growth Opportunities and Challenges
2.4. Key Industry Trends
3. Global Solar Tracker Market Dynamics
3.1. Introduction
3.2. Market DROs
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.3. Industry Trends
3.4. SWOT Analysis
3.5. Market Value Chain Analysis
3.6. Porter’s Five Forces Analysis
3.7. PESTLE Analysis
3.8. Key Price Indicators
3.9. Ansoff Matrix
3.10. Government Laws and Industry Regulations
4. Global Solar Tracker Market Analysis
4.1. Market Portraiture
4.2. Market Size (US$ Million, 2019-2023)
4.3. Market Forecast (US$ Million, 2024-2033)
4.4. Impact of COVID-19
4.5. Impact of Russia-Ukraine War
5. Global Solar Tracker Market by Technology (US$ Million, 2019-2033)
5.1. Introduction
5.2. Solar Photovoltaic (PV)
5.3. Concentrated Solar Power (CSP)
5.4. Concentrated Photovoltaic (CPV)
5.5. Key Segment Investment Opportunity
6. Global Solar Tracker Market by Type (US$ Million, 2019-2033)
6.1. Introduction
6.2. Active Solar Tracker
6.3. Passive Solar Tracker
6.4. Key Segment Investment Opportunity
7. Global Solar Tracker Market by Movement (US$ Million, 2019-2033)
7.1. Introductions
7.2. Single Axis Tracker
7.3. Double Axis Tracker
7.4. Key Segment Investment Opportunity
8. Global Solar Tracker Market by Application (US$ Million, 2019-2033)
8.1. Introduction
8.2. Utility
8.3. Commercial
8.4. Residential
8.5. Key Segment Investment Opportunity
9. Global Solar Tracker Market by Region (US$ Million, 2019-2033)
9.1. Introduction
9.2. Europe
9.3. North America
9.4. Asia Pacific
9.5. Latin America
9.6. Middle East & Africa
9.7. Key Segment Investment Opportunity
10. Europe Solar Tracker Market (US$ Million, 2019-2033)
10.1. Introduction
10.2. Key Drivers and Takeaways
10.3. Europe Market Breakup by Technology
10.4. Europe Market Breakup by Type
10.5. Europe Market Breakup by Movement
10.6. Europe Market Breakup by Application
10.7. Europe Market Breakup by Country
10.7.1. Germany
10.7.2. United Kingdom
10.7.3. France
10.7.4. Italy
10.7.5. Spain
10.7.6. Russia
10.7.7. Netherlands
10.7.8. Sweden
10.7.9. Poland
10.7.10. Rest of Europe
11. North America Solar Tracker Market (US$ Million, 2019-2033)
11.1. Introduction
11.2. Key Drivers and Takeaways
11.3. North America Market Breakup by Technology
11.4. North America Market Breakup by Type
11.5. North America Market Breakup by Movement
11.6. North America Market Breakup by Application
11.7. North America Market Breakup by Country
11.7.1. United States
11.7.2. Canada
12. Asia Pacific Solar Tracker Market (US$ Million, 2019-2033)
12.1. Introduction
12.2. Key Drivers and Takeaways
12.3. Asia Pacific Market Breakup by Technology
12.4. Asia Pacific Market Breakup by Type
12.5. Asia Pacific Market Breakup by Movement
12.6. Asia Pacific Market Breakup by Application
12.7. Asia Pacific Market Breakup by Country
12.7.1. China
12.7.2. Japan
12.7.3. India
12.7.4. South Korea
12.7.5. Australia
12.7.6. ASEAN
12.7.7. Rest of Asia Pacific
13. Latin America Solar Tracker Market (US$ Million, 2019-2033)
13.1. Introduction
13.2. Key Drivers and Takeaways
13.3. Latin America Market Breakup by Technology
13.4. Latin America Market Breakup by Type
13.5. Latin America Market Breakup by Movement
13.6. Latin America Market Breakup by Application
13.7. Latin America Market Breakup by Country
13.7.1. Mexico
13.7.2. Brazil
13.7.3. Argentina
13.7.4. Chile
13.7.5. Rest of Latin America
14. Middle East and Africa Solar Tracker Market (US$ Million, 2019-2033)
14.1. Introduction
14.2. Key Drivers and Takeaways
14.3. Middle East and Africa Market Breakup by Technology
14.4. Middle East and Africa Market Breakup by Type
14.5. Middle East and Africa Market Breakup by Movement
14.6. Middle East and Africa Market Breakup by Application
14.7. Middle East and Africa Market Breakup by Country
14.7.1. Saudi Arabia
14.7.2. Turkey
14.7.3. Iran
14.7.4. United Arab Emirates
14.7.5. Rest of Middle East & Africa
15. Competitive Landscape
15.1. Competitive Dashboard
15.2. Key Industry Strategies Analysis
15.3. Recent Developments
15.4. Market Scenario
16. Company Profiles
16.1. Arctech Solar Holding Co., Ltd.
16.2. Array Technologies, Inc.
16.3. Convert Italia (Valmont)
16.4. GameChange Solar
16.5. Gonvarri Steel Services
16.6. NCLAVE Renewable
16.7. NEXTracker, Inc.
16.8. PVHardware
16.9. Soltec Trackers (Soltec Power Holdings SA)
16.10. STI Norland (Array Technologies)
