Solar Tracker for Power Generation Market Report 2025

This Solar Tracker For Power Generation report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The solar tracker for power generation market size has grown strongly in recent years. It will grow from $7.29 billion in 2024 to $7.94 billion in 2025 at a compound annual growth rate (CAGR) of 9%. The growth in the historic period can be attributed to increased solar efficiency, falling solar costs, renewable energy incentives, energy independence, environmental awareness.

The solar tracker for power generation market size is expected to see strong growth in the next few years. It will grow to $11.47 billion in 2029 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to advanced tracking technologies, global solar installations, energy storage integration, efficiency improvements, emerging solar markets. Major trends in the forecast period include single-axis vs dual-axis tracking, smart and autonomous tracking, floating solar trackers, real-time monitoring and data analytics, climate-adaptive tracking.

The increasing demand for renewable energy sources is anticipated to drive the growth of solar trackers in the power generation market. Renewable energy is derived from naturally replenishing sources, such as sunlight, rainfall, geothermal heat, and ocean waves. Solar trackers play a crucial role in harnessing these renewable energy sources for power generation. For instance, in 2023, a report from the U.S. Energy Information Administration (EIA), a U.S.-based agency, indicated that utility-scale electricity generation from hydropower in the U.S. reached 240 billion kWh, representing 5.7% of the total energy share. Consequently, the rising demand for renewable energy sources is expected to fuel the growth of the solar tracker market.

The growing demand for off-grid solar systems is expected to contribute to the expansion of the solar tracker market for power generation in the coming years. Off-grid solar systems operate independently of the main power grid, generating power through solar panels installed on rooftops. These self-sustaining systems store energy in batteries during sunlight hours for use during the night. Solar trackers enhance energy production, improve energy efficiency, reduce maintenance costs, and increase energy-generating capacity in off-grid solar systems. As reported by the United States Department of Energy in August 2023, a record-breaking 9.5 million off-grid solar products were sold in 2022, amounting to 94 megawatts (MW). Therefore, the growing demand for off-grid solar systems is a driving force for the solar tracker market in power generation.

Leading companies in the global solar tracker market for power generation are concentrating on developing advanced technologies, such as low-carbon innovations, to improve energy efficiency, reduce environmental impact, and promote sustainable energy practices. These low-carbon technologies significantly lower greenhouse gas emissions by enhancing energy efficiency or utilizing renewable energy sources. For example, in April 2024, Nextracker, an India-based manufacturer of advanced solar tracking systems, introduced the NX Horizon low-carbon solar tracker. This tracker employs Electric Arc Furnace (EAF) technology to process recycled steel, resulting in substantially reduced greenhouse gas emissions compared to traditional methods that depend on iron ore and coal. This method not only lessens environmental impact but also supports the U.S. steel industry by utilizing domestic scrap steel supplies.

In January 2022, Array Technologies Inc., a US-based solar tracking solutions manufacturer, acquired Soluciones Técnicas Integrales Norland, S.L., a Spain-based solar tracker manufacturing company, for an undisclosed amount. The acquisition strengthened Array's position as a global leader in solar trackers, with a strong presence in North America, Latin America, and Europe. This strategic move positions Array as an expert in the rapidly growing Brazilian solar sector, establishing it as the world's largest solar tracker company with production capacity and technical expertise on three continents.

Major companies operating in the solar tracker for power generation market include NEXTracker Inc., Array Technologies Inc., PV Hardware Solutions S.L.U., Arctech Solar Holding Co. Ltd., Soltec Power Holdings SA, FTC Solar Inc., AllEarth Renewables Inc., Mechatron Solar Inc., Convert Italia SPA, SunPower Corporation, Trina Solar Co.Ltd., DEGERENERGIE GMBH & CO. KG, GameChange Solar Services India Pvt. Ltd., Soluciones Tecnicas Integrales Norland Sl, Ideematec Deutschland GmbH, MECASOLAR LLC, OPTIMUM TRACKER, Powerway Renewable Energy Co. Ltd., The Schletter Group, Xiamen Grace Solar Technology Co. Ltd., Jiangsu Aikang Industrial Group Co. Ltd., Dalian CDS Solar Energy Technology Co.Ltd., Clenergy Technology Co. Ltd., Amberroot Systems Pvt. Ltd., Ephysx Technologies Pvt. Ltd., Greenera Energy Pvt. Ltd., Hyquip Systems Ltd., Nordic Semiconductor, Canadian Solar Inc., Risen Energy Co. Ltd.

North America was the largest region in the solar tracker for power generation market in 2024. The regions covered in this solar tracker for power generation market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the solar tracker for power generation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The solar tracker for power generation market consists of sales of Horizontal Single-Axis Solar Tracker (HSAT), Horizontal Tilted Single-Axis Solar Tracker (HTSAT), Vertical Single-Axis Solar Tracker (VSAT), Vertical-Tilted Single-Axis Solar Tracker (VTSAT), polar-axis tracking and altitude-azimuth tracking. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

A solar tracker for power generation involves aligning a photovoltaic panel at an optimal angle toward the sun to capture maximum sunlight, thereby enhancing the electricity production capacity of a solar plant. These trackers are utilized to generate clean energy and reduce carbon emissions during the power production process, ultimately improving the efficiency of solar panels and maximizing their output.

The main products in the field of solar trackers for power generation are single-axis and dual-axis trackers. Single-axis trackers employ technology that adjusts the position of a solar panel along a single axis, allowing it to follow the changing position of the sun throughout the passing days and years. The technologies utilized include photovoltaic (PV) and concentrated solar power (CSP). Applications for solar trackers span across residential, commercial, industrial, and utility sectors.

The solar tracker for power generation market research report is one of a series of new reports that provides solar tracker for power generation market statistics, including a solar tracker for power generation industry, global solar tracker for power generation market size, regional shares, competitors with a solar tracker for power generation market share, detailed solar tracker for power generation market segments, market trends and opportunities, and any further data you may need to thrive in the solar tracker for power generation industry. This solar tracker for power generation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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