Press release
Solar Tracker Market Overview: Major Segments, Strategic Developments, and Leading Companies
Solar Tracker Market
Forecasted Market Valuation and Growth Prospects for the Solar Tracker Market
The solar tracker market is anticipated to grow rapidly, reaching a valuation of $24 billion by 2030. This translates to a compound annual growth rate (CAGR) of 14.8% over the forecast period. Such expansion is driven by the increasing use of dual-axis trackers, the growth of photovoltaic (PV)-based utility projects, advancements in AI-powered panel positioning, and the rising deployment of trackers on commercial and industrial rooftops. Additionally, there is a stronger focus on carbon-efficient power generation methods. Key trends expected to influence this growth include the rise of sustainable solar tracking solutions, autonomous tracking innovations, smart factory integration in tracker manufacturing, IoT-enabled solar performance optimization, and AI-driven sun positioning algorithms.
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Leading Companies Driving the Solar Tracker Market Forward
Several prominent firms dominate the solar tracker market landscape, including NEXTracker Inc., Soltec Power Holdings SA, Arctech Solar Holding Co. Ltd., Array Technologies Inc., Exosun SA, and Gonvarri Solar Steel SL. Other influential players are Powerway Renewable Energy Co. Ltd., Meca Solar Mobility SL, SunPower Corporation, Haosolar Co. Ltd., and Scorpius Trackers Private Limited. The list also features 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., and Greenera Energy Pvt. Ltd.
Strategic Acquisition Enhancing Automation Capabilities
In February 2025, Kinematics, a US-based firm specializing in robotics and automation solutions, acquired P4Q for an undisclosed sum. This strategic move is intended to bolster Kinematics' technological strengths and expand its full-stack software capabilities, solidifying its position in the automation and robotics sector. P4Q is known for providing comprehensive software development and system integration services tailored for industrial applications.
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Key Trends That Will Shape the Future of the Solar Tracker Market
Leading companies in the solar tracker market are focusing heavily on advanced low-carbon technologies aimed at boosting energy efficiency, reducing environmental impact, and promoting sustainable energy practices. These innovations are expected to drive both growth and technological advancement in the renewable energy field. For example, in April 2024, Nextracker, an India-based manufacturer of sophisticated solar tracking systems, introduced the NX Horizon low-carbon solar tracker. This product uses Electric Arc Furnace (EAF) technology to process recycled steel, which substantially lowers greenhouse gas emissions compared to traditional steel production methods reliant on iron ore and coal. This not only reduces environmental harm but also supports the domestic U.S. steel industry by utilizing scra*p steel supplies.
Detailed Segmentation Analysis of the Solar Tracker Market
The solar tracker market is segmented based on several key factors:
1) Axis Type: Single Axis and Dual Axis trackers
2) Technology Type: Solar Photovoltaic (PV), Concentrated Solar Power (CSP), and Concentrated Photovoltaic (CPV)
3) Application: Residential, Commercial & Industrial, and Utility sectors
Further breakdown includes:
- Single Axis trackers, divided into Horizontal Single Axis, Vertical Single Axis, and Inclined Single Axis varieties
- Dual Axis trackers, subdivided into Horizontal Dual Axis, Vertical Dual Axis, and Polar Dual Axis types
This detailed segmentation provides a comprehensive understanding of the market's structure and the diverse product offerings available to meet varied customer needs.
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