Global Solar Tracker (Single Axis And Dual Axis) Market Size By Type (Type I, Type II), By Application (Application I, Application II), By Region, And Segment Forecasts, 2023 to 2032

The Global Solar Tracker (Single Axis and Dual Axis) Market is poised for significant growth, driven by the increasing adoption of solar energy as a sustainable power source and growing investments in renewable energy infrastructure. Solar trackers enhance the efficiency of solar power systems by adjusting the panels’ orientation to follow the sun's path, thereby maximizing energy capture. In 2023, the market was valued at approximately USD 10.2 billion, with projections to reach around USD 21.4 billion by 2031, reflecting a CAGR of 9.3%. The shift towards clean energy, combined with governmental incentives for renewable projects, plays a pivotal role in the expansion of solar tracking technologies.

Drivers:

Increasing Adoption of Solar Power: The global emphasis on reducing carbon emissions has led to a surge in solar power installations, pushing the demand for solar trackers that maximize efficiency.

Government Incentives for Renewable Energy: Subsidies, tax benefits, and supportive regulations for renewable energy projects are bolstering the adoption of solar trackers worldwide.

Technological Advancements in Solar Tracking: Innovations in tracking technology, such as automated and self-adjusting mechanisms, are making solar trackers more efficient and affordable, fostering market growth.

Restraints:

High Initial Costs: The upfront cost of solar tracking systems can be prohibitive for smaller-scale projects, limiting market penetration.

Maintenance and Operational Challenges: Solar trackers require regular maintenance to perform optimally, which can increase operational costs, particularly for remote installations.

Opportunity:

Expansion in Emerging Markets: Developing regions, particularly in Asia-Pacific, Latin America, and Africa, present lucrative opportunities due to their high solar irradiance and growing energy needs.

Integration with Smart Technologies: The integration of IoT and AI for predictive maintenance and real-time adjustments presents a growth avenue for solar trackers.

Market by System Type Insights:

In the system type segment, Single Axis Trackers dominate the market due to their cost-effectiveness and simpler installation process. These trackers are widely used in large-scale solar farms where space and sunlight conditions are favorable. Dual Axis Trackers, however, are expected to witness substantial growth, particularly in regions with high solar radiance variation, as they can capture more sunlight by adjusting both horizontally and vertically, thus enhancing energy generation.

Market by End-Use Insights:

The Utility Segment holds the largest market share, accounting for over 65% in 2023, driven by the increasing adoption of solar energy in large-scale power projects. The Commercial Segment is anticipated to grow rapidly as businesses invest in renewable energy to achieve sustainability goals and reduce operational costs. Residential installations, while currently limited, are expected to grow as more individuals adopt rooftop solar systems enhanced with dual-axis trackers for maximum energy efficiency.

Market by Regional Insights:

In 2023, North America led the market, owing to high solar project investments and supportive policies in the U.S. and Canada. However, Asia-Pacific is projected to experience the fastest growth, driven by rapid infrastructure development, high solar irradiance, and governmental focus on renewable energy, particularly in China, India, and Japan. Europe remains a substantial market due to the EU’s strong renewable energy directives and ambitious emission reduction targets.

Competitive Scenario:

Key players in the Global Solar Tracker Market include Nextracker Inc., Array Technologies, Inc., First Solar, Inc., Soltec, Arctech Solar, and SunPower Corporation. Leading companies are focusing on technological innovation, strategic partnerships, and regional expansion. Notable developments include:

2023: Nextracker Inc. introduced a dual-axis solar tracker equipped with AI-driven optimization capabilities.

2024: Soltec partnered with a major utility provider to deploy single-axis trackers across multiple solar farms in Europe.

2025: Array Technologies, Inc. announced the expansion of its manufacturing facility to meet the growing demand in Asia-Pacific.

Scope of Work – Global Solar Tracker (Single Axis and Dual Axis) Market

Key Market Developments:

2023: Nextracker Inc. launched AI-enabled dual-axis solar trackers, enhancing energy optimization.

2024: Soltec collaborated with a European utility to deploy single-axis trackers in multiple solar farms, enhancing regional reach.

2025: Array Technologies Inc. expanded its production facility to address rising demand in Asia-Pacific, reinforcing its regional market position.

FAQs

What is the current market size of the Global Solar Tracker (Single Axis and Dual Axis) Market?

The market was valued at approximately USD 10.2 billion in 2023.

What is the major growth driver of the Global Solar Tracker (Single Axis and Dual Axis) Market?

The major growth drivers include the rising adoption of solar power, supported by government incentives and technological advancements in tracking systems.

Which is the largest region during the forecast period in the Global Solar Tracker (Single Axis and Dual Axis) Market?

North America holds the largest market share, but Asia-Pacific is expected to grow at the fastest rate due to high solar potential and supportive policies.

Which segment accounted for the largest market share in the Global Solar Tracker (Single Axis and Dual Axis) Market?

Single Axis Trackers lead the market, particularly in large-scale utility projects due to their cost-effectiveness.

Who are the key market players in the Global Solar Tracker (Single Axis and Dual Axis) Market?

Key players include Nextracker Inc., Array Technologies, Inc., First Solar, Inc., Soltec, Arctech Solar, and SunPower Corporation.