Press release
Global Solar Tracker Market Outlook 2025-2034: Trends, Innovations, And Future Outlook
Solar Tracker
What Is the Solar Tracker Market Size and Projected Growth Rate?
The size of the solar tracker market has seen a swift expansion in the last few years. The market that was valued at $10.54 billion in 2024 is anticipated to surge to $12.17 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 15.4%. The significant growth witnessed in the past years is driven by factors such as enhanced energy output, decreased costs, heightened environmental consciousness, incentivized schemes, and the goal of energy self-reliance.
The market size of the solar tracker is anticipated to experience swift expansion in the coming years, reaching $21.7 billion by 2029, with a compound annual growth rate (CAGR) of 15.6%. The predicted growth during this period can be credited to cutting-edge tracking technologies, worldwide solar installations, energy storage integration, improvement in efficiency, and emerging solar markets. Key trends anticipated during the forecast period comprise of technological progression and heightened efficiency, increased utilization of dual-axis trackers, digitalization, data-informed optimization, the use of artificial intelligence (AI) and machine learning (ML), along with smart inverters.
Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=6769
What Are the Major Segments in the Solar Tracker Market?
The solar tracker market covered in this report is segmented -
1) By Axis Type: Single Axis, Dual Axis
2) By Technology: Solar Photovoltaic (PV), Concentrated Solar Power (CSP), Concentrated Photovoltaic (CPV)
3) By Application: Residential, Commercial & Industrial, Utility
Subsegments:
1) By Single Axis: Horizontal Single Axis Trackers, Vertical Single Axis Trackers, Inclined Single Axis Trackers
2) By Dual Axis: Horizontal Dual Axis Trackers, Vertical Dual Axis Trackers, Polar Dual Axis Trackers
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6769&type=smp
What Are The Driving Solar Tracker Market Evolution?
The significant increase in the demand for renewable energy sources is likely to accelerate the expansion of the solar tracker market in the power generation sector. Renewable energy originates from endlessly renewable natural resources, such as sunlight, precipitation, geothermal heat, and ocean waves. Solar trackers utilize these renewable energy sources to generate power. For example, in 2023, a report by the U.S. Energy Information Administration (EIA), an American agency, stated that the U.S. generated 240 billion kWh of utility-scale electricity from hydropower, making up 5.7% of the total energy mix. As a result, the escalating demand for renewable energy sources propels the growth of the ocean energy market.
Which Firms Dominate The Solar Tracker Market Segments?
Major companies operating in the solar tracker market include NEXTracker Inc., Soltec Power Holdings SA, Arctech Solar Holding Co. Ltd., Array Technologies Inc., Exosun SA, Gonvarri Solar Steel SL, Powerway Renewable Energy Co. Ltd., Meca Solar Mobility SL, SunPower Corporation, Haosolar Co. Ltd., Scorpius Trackers Private Limited, AllEarth Renewables Inc., DEGER energie GmbH & Co. KG, Convert Italia SpA, GameChange Solar, PV Hardware Solutions S.L.U., FTC Solar Inc., Mahindra Susten Pvt. Ltd., Abengoa Solar S.A., Grupo Clavijo Elt SL, Titan Tracker SL, Sun Action Trackers LLC, SunLink Corporation, Mechatron Solar Inc., Northern States Metals, DCE Solar, Valmont Industries Inc., NCLAVE Renewable S.L., Amberroot Systems, Ephysx Technologies Pvt.Ltd., Greenera Energy Pvt. Ltd.
What Trends Are Expected to Dominate the Solar Tracker Market in the Next 5 Years?
The creation of novel products is a leading trend gaining traction in the solar tracker for power generation industry. Top corporations in this market are putting emphasis on the development of innovative products in order to consolidate their market foothold. For example, in April 202 SFOne, Nextracker, an Indian corporation that produces top-tier solar tracking systems, introduced the NX HorizonTM low-carbon solar tracker. By utilizing Electric Arc Furnace (EAF) technology, which repurposes recycled steel, the NX Horizon significantly diminishes greenhouse gas emissions compared to traditional methods that depend on iron ore and coal. This strategy not only lessens the environmental footprint, but also bolsters the U.S. steel sector by tapping into domestic sc*rap steel resources.
Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/solar-tracker-global-market-report
Which Is The Largest Region In The Solar Tracker Market?
North America was the largest region in the solar tracker for power generation market in 2024. The regions covered in the solar tracker for power generation market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Solar Tracker Market?
2. What is the CAGR expected in the Solar Tracker Market?
3. What Are the Key Innovations Transforming the Solar Tracker Industry?
4. Which Region Is Leading the Solar Tracker Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Solar Tracker Market Outlook 2025-2034: Trends, Innovations, And Future Outlook here
News-ID: 3964573 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Solar
Biohybrid Solar Cell Market Professional Survey Report 2022 - Jinko Solar, JA SO …
The Biohybrid Solar Cell Market Report 2022 provides a comprehensive analysis of observable trends and projections. This research shows how to attract a large number of customers. Our certified crew of economists, researchers, and advisers has made further attempts in projecting the global industry by utilising accredited global Biohybrid Solar Cell market information tools as well as various instruments and ways to successfully review and get information. The research argues…
Home Solar Power System Market Size, Share, Trends, Growth - Tesla, Panasonic So …
The Global Home Solar Power System Market study includes new innovations, market dynamics, strategic profiling in terms of the future market strategies and shares for the subsectors of the industry. This research consists of details related to the size of the industries, the major players, markets, sales volume and value. This study offers a detail data on the historical data pointers as well as forecasts by region/country for the sectors…
Solar PV Module Market Outlook To 2024 - Trina Solar, Canadian Solar Inc., JA So …
Solar PV module market from utility sector has witnessed a substantial growth globally in recent years. In the first quarter of the year, Vietnam's Ministry of Industry and Trade have talked about their FiT scheme related to utility-based solar power projects. Ongoing electrification programs and incentives benefit pertaining to grid connected power generation is surging the demand for on-grid solar PV modules. On-grid connection represented 55% of the overall solar…
Solar Simulator Market Distribution Channel 2019: Spire Solar, Solar Energy Inte …
Solar Simulator Market report aims to examine the developments of market including its market improvements, developments, positions and others.
This report on the Solar Simulator market offers explanatory knowledge on the market parts like dominating players, drivers and restraints, production, revenue, consumption, import and export, and the most effective development within the organization size, deployment type, inside, segmentation comprised throughout this analysis, also major the players have used various strategies such…
Solar PV Module Market By Key Vendors: Trina Solar, Canadian Solar Inc., JA Sola …
UK solar PV module market is set to expand owing to government initiatives towards sustainable energy integration. The export tariff introduced by the UK government facilitates USD 0.06 per unit for the surplus electricity injected back to the grid by the generator. Favorable government reforms with ambitious plan towards carbon footprint reduction will further boost the business outlook.
Request for a sample of this research report @
https://www.gminsights.com/request-sample/detail/1563
Solar PV Module Market size…
Global Solar Thermal Market 2016 Abengoa Solar, SUPCON Solar, Solar Euromed
Global Solar Thermal Market Research Report
The MRS Research Group Solar Thermal report by QY Research represents an inclusive evaluation of the Solar Thermal Market and comprises considerable insights, historical data, facts,and statistical and industry-validated data of the global market.Additionally,it consists of estimated data that is evaluated with the help of suitable set of methodologies and assumptions.The MRS Research Group report research highlights informative data and in-depth analysis of Solar Thermal…
