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SkyQuest projects that the solar tracker market will attain a USD 16.73 billion value by 2030, with a CAGR of 13.5% over the forecast period (2023-2030). The global solar tracker market is witnessing substantial growth, primarily driven by the increasing number of solar panel installations worldwide. The rising demand for solar energy as a clean and renewable power source has led to a surge in the deployment of solar PV systems across residential, commercial, and utility-scale sectors.

Westford, USA, June 29, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, solar tracking systems have gained significant prominence in the United States due to the growing emphasis on solar efficiency and maximizing power generation from photovoltaic (PV) systems. The panels can maintain an optimal angle relative to the sun’s position by deploying solar trackers, which continuously adjust the position and orientation of solar panels throughout the day.

Prominent Players in Solar Tracker Market

SunPower Corporation

Soltec

Arctech Solar

NEXTracker, Inc.

Array Technologies, Inc.

Convert Italia S.p.A.

GameChange Solar

Scorpius Trackers

Exosun

PVH Solar

First Solar, Inc.

Abengoa Solar, S.A.

Sun Action Trackers

Mechatron S.A.

Powerway Renewable Energy Co., Ltd.

STi Norland

Grupo Clavijo

Ideematec Deutschland GmbH

Mahindra Susten Private Limited

Titan Tracker SA

The utility sector emerged as the leading global solar tracker market, primarily driven by several factors. One key factor is the declining cost of various projects associated with photovoltaic (PV) installations. This reduction in project costs has made solar energy more economically viable for utility-scale applications, leading to increased adoption of solar tracker systems.

Regional markets in the Middle East & Africa (MEA) are poised to experience the highest growth in the global solar tracker market during the forecast period. This growth can be attributed to several key factors. The region boasts a vast solar potential due to its abundant sunlight and favorable climatic conditions.