Solar Tracker Installation Market Outlook - 2026
The global solar tracker installation market was valued at $162.7 billion in 2018 and is projected to reach $379.2 billion by 2026, growing at a CAGR of 11.1% from 2019 to 2026. The rising demand for renewable energy, particularly solar power generation, coupled with technological advancements in solar tracking systems, is significantly boosting the solar tracker installation market. As global efforts to reduce carbon emissions intensify, solar power is becoming a critical part of clean energy strategies, driving large-scale solar projects that require efficient energy capture.
Introduction
Solar tracker installation refers to the process of setting up a solar tracking system that helps solar panels follow the movement of the sun across the sky. Unlike traditional stationary solar panels, which are fixed at a certain angle, solar trackers adjust the orientation of the panels to maximize energy capture. The system aligns the panels perpendicularly to the sun’s rays, optimizing energy production throughout the day. Solar tracker installations can significantly boost the efficiency of solar power systems, particularly in regions with high solar irradiance.
Market Dynamics
Solar tracker installation market growth is driven by supportive government regulations that are escalating the installment of solar panels. The impact of government regulation on the global solar tracker installation market is positive. These regulations are motivating the installation of solar panels. In the U.S., China, and other countries, solar investments have been motivated mainly by the requirements of states’ renewable electricity standards. Solar projects also get assistance from federal incentives such as the federal investment tax credit, which enables them to cover 30% of the initial costs. Solar projects built in the Western U.S. on federal lands are benefitting by state and federal agencies that coordinate in studies and agree on investments that are related to reduce environmental impacts.
According to the International Energy Agency, the share of renewable energy to meet the global energy demand is predicted to grow in the next five years to reach 12.4% in 2023. Renewable energy is derived from natural processes such as wind and sunlight. Solar, geothermal, wind, bioenergy, hydropower, and ocean power are some of the major sources of renewable energy. Currently, renewable energy is utilized in heating, electricity, cooling, and transport sectors. Furthermore, increase in concerns regarding greenhouse gases emissions and growth in need for energy security are expected to drive the demand for solar energy. Therefore, the demand for solar tracker installation is also expected to increase. This in turn will boost the growth of the global solar tracker installation market.
Developing new renewable resources requires large initial investments to build infrastructure. These investments increase the cost of providing renewable electricity, especially during early years. Initially, the developers need to find publicly acceptable sites with good resources and with access to transmission lines. Finding a potential solar site requires several years of monitoring to determine whether they are suitable. In addition, the workers need to be trained to install, operate, and maintain the new technologies. Some renewables require operating experiences in certain climatic conditions, before the performance can be optimized. All these factors increase the cost of installing solar panels. This high cost is expected to hamper the market growth as it limits the use of solar trackers.
As countries worldwide aim to reduce carbon emissions and transition towards cleaner energy sources, solar energy has become a vital component of global energy strategies. Solar power offers a sustainable and cost-effective solution to meet the growing energy demand while minimizing environmental impact. This surge in solar power projects, both at the utility and residential levels, has created significant opportunities for solar tracker installations. Solar trackers enhance the efficiency of solar panels by allowing them to follow the sun’s trajectory throughout the day, maximizing energy capture. As solar energy adoption accelerates, especially in regions with high solar irradiance, the need for these trackers has grown. All these factors are anticipated to offer new growth opportunities for the global solar tracker installation market throughout the forecast period.
Market Segmentation
The solar tracker installation market is segmented on the basis of type, application, and region. By type, the market is classified into single axis and dual axis. Based on application, the market is segmented into residential, commercial, and industrial. Region-wise the market is studied across areas such as North America, Europe, Asia-Pacific, and LAMEA.
By Type
Dual Axis is projected as the fastest growing segment.
Based on type, the solar tracker installation market analysis is done into single-axis and dual-axis tracker. The single-axis tracker segment is further divided into horizontal and vertical tracker. Single axis trackers turn on one axis moving back and forth in a solitary way. Various kinds of single-pivot trackers are used, and this includes horizontally and vertically adjusted. Double axis trackers move in two distinct ways. Types incorporate tip-tilt and azimuth-altitude. A double axis tracker is used to situating a mirror and diverting daylight along a fixed axis toward a stationary collector. Since these trackers pursue the sun vertically and on a level plane, they help acquire most sunlight. Hence, based on type, the global solar tracker installation market is segmented into single axis and dual axis tracker.
By End-user Industry
Industrial segment is projected as the fastest growing segment.
By application, the global solar tracker installation market is segmented into residential, commercial, and industrial. In these applications, solar trackers are utilized to orient photovoltaic panels, reflectors, lenses, or other optical devices toward the sun. As the sun's position in the sky shifts based on season, trackers are employed to align the collection system to maximize energy production. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Region
Asia-Pacific would exhibit a CAGR of 10.8% during 2019-2026.
Competitive Landscape
The key players involved in the global solar tracker installation industry include Abengoa SE, First Solar, Inc., Tata Power Solar Systems Limited, Trina Solar Co. Ltd., BrightSource Energy, Inc., Siemens AG, PVHardware, Arctech Solar, and NEXTracker. To stay competitive in the industry, these market players are adopting different strategies such as product launch, partnership, merger, and acquisition. These companies are additionally implementing R&D in solar tracker output and performance to maintain their position in the market. For instance, PV Hardware, one of the key players in the solar tracker installation market, developed a product named Axone duo (double row solar tracker), which draws a cutting-edge technology and photovoltaic tradition. This results in a tracker with a better balance of controllers.
Key Benefits for Stakeholders:
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for building strategies.
- It outlines the current trends and future scenario of the solar tracker installation market size from 2018 to 2025 to understand the prevailing opportunities and potential investment pockets.
- Major countries in four major regions, namely, North America, Asia-Pacific, Europe, and LAMEA have been mapped according to their individual revenue contribution in the solar tracker installation market share at regional and country level.
- The solar tracker installation market trends such as drivers, restraints, and opportunities and their detailed impact analysis is elucidated in the study.
- The profiles of key players along with their contribution to market growth are enlisted in the report.
- The solar tracker installation market forecast is studied from the 2019-2026 year.
Solar Tracker Installation Market Report Highlights
| Aspects | Details |
 By Type |
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 By Application |
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 By Region |
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 Key Market Players | SIEMENS AG, BRIGHTSOURCE ENERGY, INC., ABENGOA SE, TATA POWER SOLAR SYSTEMS LIMITED., FIRST SOLAR, INC., Scorpius Trackers, PVHardware, TRINA SOLAR CO., LTD., NEXTracker, Arctech Solar |
Analyst Review
The solar industry is consistently advancing either to address difficulties inside a market or to improve cost and accessibility. Sun trackers have been around from a longer time; however, continuous development shows that the market is more dynamic and is expected to expand significantly in the recent years. Valmont Industrial’s acquisition of Convert in 2018 is one of the significant steps taken in global solar tracker installation market. Valmont have established themselves in metal fabrication, galvanization, coatings, and corrosion protection technologies. It has a strong presence in North America as well as in other countries. It is expected that Valmont’s capability in solar transmission towers, distribution pole manufacturing, and design & engineering will improve TRJ Solar Tracker.
It is expected that the government regulation will also play an important role in boosting the growth of the solar tracker installation market. In developing country such as India, solar technologies offer attractive opportunities to save electricity. The clean and emission-free source of energy is expected to reduce fossil fuel consumption significantly. This is projected to reduce carbon footprint of the industrial sector, assisting nations to reduce their greenhouse emissions. The Government of India (Gol) through Bureau of Energy Efficiency has initiated a massive program to conserve energy and promote CSP technologies. These technologies are also offering opportunities for development of homegrown technologies that can create local jobs and take “Make in India” initiative forward. All these initiatives are expected to increase the demand for solar technology, which in turn is anticipated to boost the demand for solar tracker installation.
Increasing installation of solar panels across the globe, environmental pollution, rising price of fuels, and growing awareness among people toward clean energy.
The Solar Tracker Installation market is projected to reach $379.2 billion by 2026.
To get latest version of solar tracker installation market report
Europe will provide more business opportunites for solar tracker installation in future.
Supportive government regulations is one of the key trends observed in the solar tracker installation market. The regulations are motivating to install solar panels,
Based on top growing big corporation, we select top 10 players.
Based on application, the global solar tracker installation market is segmented into residential, commercial, and industrial.
Companies are implementing R&D in solar tracker output and performance to maintain their position in the market. In an instance, PVHardware, one of the key players in the solar tracker market
Asia-Pacific was the highest revenue contributor, accounting for $111.6 million in 2018, and is estimated to reach $254.8 million by 2026, with a CAGR of 10.8%.
The global solar tracker installation market was valued at $162.7 billion in 2018.
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