Solar Tracker Market Size, Share, Growth Analysis, By Product Type (Single axis, Dual axis), By Technology, By Application, By Region - Industry Forecast 2025-2032

Solar Tracker Market size was valued at USD 6.88 Billion in 2023 and is poised to grow from USD 7.81 Billion in 2024 to USD 18.99 Billion by 2032, growing at a CAGR of 13.5% during the forecast period (2025-2032).

Positioning photovoltaic (PV) panels such that they remain perpendicular to the Sun's beams is the most popular use for solar trackers. With the development in technology and the rapid shift towards the use of machine learning and artificial intelligence, the global solar tracker is expected to observe a significant growth during the forecast period. For example, Nextracker acquired BrightBox Technologies, a maker of machine learning software, and went on to create and implement its TrueCapture smart tracker control system. They released TrueCapture to the market after more than a year of covert R&D work and trial projects with a small number of clients.

Due to the Covid-19 pandemic, there was a steep rise in the shipment prices across the globe that resulted in the businesses facing losses during the period. Therefore, leading players are exploring different methods of shipment in order to cut down costs. For example, FTC Solar, a producer of US Solar Trackers systems, is looking into breakbulk shipping options to reduce the expenses associated with shipping and logistics and enable the company to resume making a profit. In the second quarter of 2021, shipping and logistics expenses totaled about more than $10 million, which resulted in a deficit.

US Solar Tracker Market is poised to grow at a sustainable CAGR for the next forecast year.