Solar Trackers Market Analysis: Industry to Reach US$ 7.2 billion by 2033

The global solar trackers market has witnessed significant growth, with a valuation of US$ 3.2 billion in 2022. Projections suggest a robust surge at a CAGR of 7.5% by 2033, culminating in a value of approximately US$ 7.2 billion by that year.

As awareness of energy conservation and the shift towards renewable energy sources continues to rise, the demand for solar trackers is expected to escalate. These trackers rely on a variety of electrical components, including counting motors, actuators, and sensors, to precisely orient solar cells for optimal sunlight capture.

The harvested sunlight is then converted into electricity, catering to various end-user segments. With the declining cost of solar panels, the adoption of solar energy as a viable source for commercial power generation has gained momentum, further propelling the growth of the solar trackers market.

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Growth Factors

The expansion of market capacity has significantly reduced the cost of generating electricity through solar trackers, making them increasingly competitive with traditional energy sources. This, coupled with supportive government policies, has spurred the widespread adoption of solar energy across the country.

Innovations in tracking system technologies by key industry players are expected to drive further growth in the solar trackers market. Given the market’s price competitiveness, companies operating in this space must prioritize efficiency and strategic planning to thrive.

As solar tracking technologies have become more widespread, they have also become more reliable and advanced. Intense competition among manufacturers has led to price decreases and enhanced features, making solar trackers accessible to a broader range of projects. Manufacturers are now focusing on sustainability by using eco-friendly materials and improving designs to minimize the ecological footprint of solar tracking systems.

Key Companies

  • AllEarth Renewables, Inc.
  • Arctech Solar
  • Array Technologies, Inc.
  • Convert Italia
  • First Solar Inc.
  • GameChange Solar

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Market Outlook by Category

Product Type:

  • Single-axis
  • Dual-axis


  • Photovoltaic (PV)
  • Concentrated Solar Power (CSP)


  • Utility
  • Commercial
  • Residential

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and Pacific
  • East Asia
  • Middle East and Africa

About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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