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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Solar Tracker Market Size
The global solar tracker market was estimated at USD 6.28 Billion in 2023 and is expected to grow at a CAGR of 28.1% in the forecast period of 2024-2032.
The solar tracker market is driven by the increasing need for solar cells or photovoltaic cells and solar tracker benefits such as improved cell performance. Photovoltaic cells are used with the help of sunlight to transform solar energy into a flow of electrons.
Solar Tracker Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global solar tracker market reached the value of about USD 6.28 Billion in 2023.
The market is projected to grow at a CAGR of 28.1% between 2024 and 2032.
The major drivers of the market include increasing research and development programs, strict regulations regarding environmental emissions, increased funding, feed-in tariffs, and subsidies by various governments.
The increasing need for solar cells or photovoltaic cells and solar tracker benefits such as improved cell performance is expected to be a key trend guiding the growth of the market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The technology-based classifications of solar trackers available are solar PV, concentrator photovoltaic (CPV), and concentrated solar power (CSP), amongst others.
Solar trackers find applications in utility, and non-utility, amongst others.
There are single axis and dual axis products for solar trackers.
The leading players in this market are SunPower Corporation, Array Technologies Inc., AllEarth Renewables, Inc., Deger Energie GMBH & CO. KG, Nextracker Inc., PV Hardware Solutions, S.L.U., Abengoa S.A., Others.
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