Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Solar Tracker Market to reach USD 19.61 billion by the end of 2030.

Global Solar Tracker Market Size study & Forecast, by Type (Photovoltaic (PV), Concentrated Solar Power (CSP)) by Movement (Single Axis, Dual Axis), by Application (Utility, Non-utility) and Regional Analysis, 2023-2030

Product Code: ENGE-61333515
Publish Date: 30-10-2023
Page: 200

Global Solar Tracker Market is valued approximately USD 6.94 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 13.9% over the forecast period 2023-2030. A solar tracker is a device that orients solar panels or solar reflectors toward the sun. Its primary function is to maximize the absorption of solar energy by keeping the solar panels aligned with the sun’s position throughout the day. By tracking the sun’s movement, solar trackers can significantly increase the efficiency and output of solar energy systems. The Solar Tracker market is expanding because of factors such as increasing government green energy targets and growing adoption of renewable sources for power generation.

Global adoption of renewable energy sources like solar power has expanded as a result of the ambitious aims and goals established by governments throughout the world to transition to green energy, abandon fossil fuels, and reduce carbon emissions resulting in market growth. The adoption of renewable energy is progressing quickly owing to initiatives like Dubai’s clean energy strategy 2050, the Federal Climate Change Act’s 2021 aim of achieving greenhouse gas neutrality by 2045, and North America’s 2025 target of having 50% of electricity generated from renewable sources. Furthermore, according to the International Energy Agency (IEA) Renewable 2021 Market Report, it is anticipated that renewables would contribute nearly 95% of the growth in global power capacity by 2026, with solar PV accounting for more than half of capacity. In addition, rising solar photovoltaic installations projects and integrating software technologies in solar tracker is creating a lucrative opportunity to the market growth. However, high initial investment cost stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Solar Tracker Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of key market players, rising solar panel installations projects, government investment in green energy project, and rising development of software in the region. Whereas, Asia Pacific is projected to registered the fastest growth owing to factors such as rising installation of solar panels, rising number of green energy projects, rising photovoltaic plants, and government investment in the renewable energy projects in the region.

Major market player included in this report are:
Abengoa Solar S.A.
AllEarth Renewables
Array Technologies Inc.
DEGERenergie GmbH & Co. KG
Powerway Renewable Energy Co. Ltd.
Soltec Tracker
SunPower Corporation
Titan Tracker
Trina Solar Limited

Recent Developments in the Market:
Ø In April 2023, Nextracker Inc. intends to increase India’s capacity for producing solar trackers by half, to 10 gigawatts. Under the production-linked incentives programme, they will produce the semiconductors, and all of the goods will be made locally. At least 7-8 GW of projects every year will have trackers, according to the company, in order to meet India’s goal of 500 GW of renewable power by 2030.
Ø In April 2022, The Gemini solar project has contracted with Array Technologies, Inc. to receive 1 GW of DuraTrack HZ v3 single-axis solar trackers. The project is anticipated to be among the biggest solar storage facilities in the United States.

Global Solar Tracker Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Movement, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Photovoltaic (PV)
Concentrated Solar Power (CSP)
By Movement:
Single Axis
Dual Axis
By Application:

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Solar Tracker Market, by Region, 2020-2030 (USD Billion)
1.2.2. Solar Tracker Market, by Type, 2020-2030 (USD Billion)
1.2.3. Solar Tracker Market, by Movement, 2020-2030 (USD Billion)
1.2.4. Solar Tracker Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Solar Tracker Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Solar Tracker Market Dynamics
3.1. Solar Tracker Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing government moves to promote green energy adoption Growing adoption of renewable sources for power generation.
3.1.2. Market Challenges High Initial Investment Cost
3.1.3. Market Opportunities Rising solar photovoltaic installations projects Integration of software technologies
Chapter 4. Global Solar Tracker Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Solar Tracker Market, by Type
5.1. Market Snapshot
5.2. Global Solar Tracker Market by Type, Performance – Potential Analysis
5.3. Global Solar Tracker Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Solar Tracker Market, Sub Segment Analysis
5.4.1. Photovoltaic (PV)
5.4.2. Concentrated Solar Power (CSP)
Chapter 6. Global Solar Tracker Market, by Movement
6.1. Market Snapshot
6.2. Global Solar Tracker Market by Movement, Performance – Potential Analysis
6.3. Global Solar Tracker Market Estimates & Forecasts by Movement 2020-2030 (USD Billion)
6.4. Solar Tracker Market, Sub Segment Analysis
6.4.1. Single Axis
6.4.2. Dual Axis
Chapter 7. Global Solar Tracker Market, by Application
7.1. Market Snapshot
7.2. Global Solar Tracker Market by Application, Performance – Potential Analysis
7.3. Global Solar Tracker Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
7.4. Solar Tracker Market, Sub Segment Analysis
7.4.1. Utility
7.4.2. Non-utility
Chapter 8. Global Solar Tracker Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Solar Tracker Market, Regional Market Snapshot
8.4. North America Solar Tracker Market
8.4.1. U.S. Solar Tracker Market Type breakdown estimates & forecasts, 2020-2030 Movement breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Solar Tracker Market
8.5. Europe Solar Tracker Market Snapshot
8.5.1. U.K. Solar Tracker Market
8.5.2. Germany Solar Tracker Market
8.5.3. France Solar Tracker Market
8.5.4. Spain Solar Tracker Market
8.5.5. Italy Solar Tracker Market
8.5.6. Rest of Europe Solar Tracker Market
8.6. Asia-Pacific Solar Tracker Market Snapshot
8.6.1. China Solar Tracker Market
8.6.2. India Solar Tracker Market
8.6.3. Japan Solar Tracker Market
8.6.4. Australia Solar Tracker Market
8.6.5. South Korea Solar Tracker Market
8.6.6. Rest of Asia Pacific Solar Tracker Market
8.7. Latin America Solar Tracker Market Snapshot
8.7.1. Brazil Solar Tracker Market
8.7.2. Mexico Solar Tracker Market
8.8. Middle East & Africa Solar Tracker Market
8.8.1. Saudi Arabia Solar Tracker Market
8.8.2. South Africa Solar Tracker Market
8.8.3. Rest of Middle East & Africa Solar Tracker Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Abengoa Solar S.A. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. AllEarth Renewables
9.3.3. Array Technologies Inc.
9.3.4. DEGERenergie GmbH & Co. KG
9.3.5. Nclave
9.3.6. Powerway Renewable Energy Co. Ltd.
9.3.7. Soltec Tracker
9.3.8. SunPower Corporation
9.3.9. Titan Tracker
9.3.10. Trina Solar Limited
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com


Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.
Enquiry Now