solar tracker market The Pearl Dream Inc

Solar Tracker Market size projected to hit $16.0 billion by 2031 | Register at a CAGR of 6.1%

Solar Tracker Market

Solar Tracker Market: Global Opportunity Analysis and Industry Forecast, 2021-2031

Solar Tracker Market is anticipated to witness substantial gains due to growing environmental awareness, and depletion of fossil fuels.”

— Allied Market Research


Allied Market Research published a report on the Solar Tracker Market By Type (Single Axis Tracker, Double Axis Tracker), By Technology (Photovoltaic, Concentrated Solar Tracker), By Application (Residential, Commercial, Utility): Global Opportunity Analysis and Industry Forecast, 2021-2031

The solar tracker market size was valued at $8.9 billion in 2021, and is estimated to reach $16.0 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031.

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The market is primarily driven by expanding global demand for energy, growing environmental awareness, and depletion of fossil fuels. Demand for solar trackers is expected to increase during the forecast period as a result of growing government initiatives in nations such as the U.S., India, and China to shift to solar energy.

In addition, it is anticipated that solar tracker companies would benefit from new growth prospects brought on by ongoing product innovations in solar technology as well as growing usage of IoT and artificial intelligence.

A significant increase in number of solar panel installations worldwide is one of the key factors that propels growth of the solar tracker market. Furthermore, the market for solar trackers is expanding as a result of adoption of helpful government laws that support numerous solar energy projects.

Key findings of the study

By type, the solar axis segment is estimated to display highest growth rate, in terms of revenue, registering a CAGR of 6.3% from 2022 to 2031

By technology, the photovoltaic segment is anticipated to register highest CAGR of 6.3% during the forecast period.

By application, the utility segment is anticipated to register highest CAGR of 6.3% during the forecast period.

Development of solar trackers for unusual settings, such as capped landfills, has been identified as the main trend in the global market for solar trackers. Solar trackers are typically fixed on posts that are hammered into the ground or on posts with ballast.

Factors such as growing manufacturing industry, availability of feedstock at reduced prices, and arrival of local players has led manufacturers to offer solar trackers at low prices.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

Array Technologies, Inc.

Convert Italia

Nextracker Inc.

SunPower Corporation

Trina Solar


GameChange Solar

STI Norland


PV Hardware




Powerway Renewable Energy Co. Ltd.


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Solar tracker possesses various properties such as it offers minimal wind resistance and provides electrical and thermal stability. Hence, owing to such functionalities, it is extensively used for residential, commercial, agriculture, and other purposes such as in on-grid for roofs of houses, traffic signals, street lights, cottages, and small power plants.

Solar tracker is often used to optimize the energy output from solar panels. Solar panels are always pointed directly at the sun, owing to its mechanism solar panel tracks daily rotation of sun from east to west. It enhances solar irradiation received by solar-energy collector and helps in increasing output of electricity that is generated.

Increase in steel costs further raises cost of these tracking systems, which are employed in majority of utility-scale projects. This is one of the main reasons impeding growth of the solar tracker market. Steel often accounts for more than 65% of the entire cost of solar tracking systems, making them more expensive.

Installation of a solar tracking system is more expensive overall than placing regular solar panels, which hinders its use in residential areas where energy demand is less. This factor is estimated to hamper the solar tracker market growth.

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Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the solar tracker market analysis from 2021 to 2031 to identify the prevailing solar tracker market opportunities.

The market research is offered along with information related to key drivers, restraints, and opportunities.

Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

In-depth analysis of the solar tracker market segmentation assists to determine the prevailing market opportunities.

Major countries in each region are mapped according to their revenue contribution to the global market.

Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

The report includes the analysis of the regional as well as global solar tracker market trends, key players, market segments, application areas, and market growth strategies.

Related Research Reports:-

Solar Tracker Installation Market by Type (Single Axis and Dual Axis) and End-Use Industry (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2019-2026

Solar Cell Market by Type (Crystalline, Thin film, Others), by Installation Type (Residential, Commercial, Utility-Scale): Global Opportunity Analysis and Industry Forecast, 2021-2031

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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