Solar Tracker Market Size Worth USD 35.64 Billion by 2034 | CAGR: 14.5%

The solar tracker market size is expected to reach USD 35.64 billion by 2034, according to a new study by Polaris Market Research. The report “Solar Tracker Market Size, Share, Trends, Industry Analysis Report: By Type, Application (Residential, Commercial, and Utility), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The decreasing cost of solar panels is driving the solar tracker market demand. Falling solar panel prices make solar energy more affordable and attractive to a broader range of customers. This reduction in costs enables businesses, homeowners, and governments to invest in solar energy systems, including solar trackers. Solar trackers improve the performance of these systems by keeping panels aligned with the sunlight, thereby boosting energy generation. Lower-cost solar panels make it more feasible for more people and companies to adopt solar trackers, further fueling the solar tracker market growth.

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The rising electricity prices are driving the solar tracker market development. Traditional electricity costs continue to increase, due to which many consumers and businesses are seeking more affordable and sustainable energy solutions. Solar power offers an attractive alternative, and the use of solar trackers helps maximize energy generation, making solar systems even more cost-effective. Solar trackers ensure that solar panels are positioned to collect the most sunlight, leading to higher energy yield and better returns on investment. The growing electricity costs have led more people to adopt solar energy with trackers, driving demand for solar trackers.

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The global shift toward renewable energy sources is driving the solar tracker market expansion. Concerns over climate change and the environmental impact of fossil fuels are prompting governments, businesses, and individuals to seek cleaner alternatives. Solar power is one of the most popular renewable energy sources, and its adoption is increasing rapidly. This rising demand for renewable energy has increased the need for solar trackers.

Solar Tracker Market Report Highlights

• Based on type, the single axis solar tracker segment accounted for a larger market share in 2024 due to its low operating costs and simple setup.
• The utility segment, by application, is expected to experience significant growth in the solar tracker market due to rising electricity costs and increasing demand for renewable energy sources.
• In 2024, North America held the largest share of the solar tracker market revenue due to the region's increasing emphasis on renewable energy.
• The Asia Pacific market is experiencing significant growth due to the increasing demand for renewable energy and rapid urbanization.
• A few global key market players are Abengoa Solar S.A., AllEarth Renewables, Array Technologies Inc., DEGERenergie GmbH & Co. KG, Nclave, Powerway Renewable Energy Co. Ltd., Soltec Tracker, SunPower Corporation, Titan Tracker, and Trina Solar Limited.

Polaris Market Research has segmented the solar tracker market report on the basis of type, application, and region:

By Type (Revenue – USD Billion, 2020–2034)

• Single Axis Solar Tracker
• Dual Axis Solar Tracker

By Application (Revenue – USD Billion, 2020–2034)

• Residential
• Commercial
• Utility

By Regional Outlook (Revenue – USD Billion, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa

Solar Tracker Market Report Scope