North America Solar Tracker Market Share, Outlook 2024-2032 (2024)

North America Solar Tracker Market Size

North America Solar Tracker Market was valued USD 4.25 billion in 2023 and is anticipated to grow at a CAGR of over 4.9% from 2024 to 2032. A solar tracker is a device that automatically adjusts the position of solar panels or solar arrays to maximize their exposure to sunlight throughout the day. It continuously orients the panels to face the sun as it moves across the sky, optimizing the capture of solar energy. These typically use sensors and motors to track the sun's position and adjust the orientation of the solar panels accordingly.

Improvements in tracking technology, including more reliable and cost-effective designs coupled with decreasing cost of solar panels and tracking systems will augment the industry landscape. Businesses and industrial facilities are increasingly adopting solar trackers to maximize their solar investments. Furthermore, Solar trackers can boost the energy output of solar panels by 15% to 40% compared to fixed-tilt systems by maintaining optimal panel orientation which will accelerate the industry dynamics.

Government incentives, such as tax credits, grants, and renewable energy targets, have encouraged the adoption of solar trackers. Policies at both federal and state levels support the deployment of advanced solar technologies will positively impact the industry statistics. Furthermore, advances in technology and economies of scale have led to a reduction in the costs of solar trackers, making them more accessible and financially viable thereby complementing the product penetration.

North America Solar Tracker Market Trends

Increasing emphasis on renewable energy and sustainability, along with supportive government policies, will stimulate the industry trend. States like California, Arizona, Texas, and Nevada are leading in the deployment of solar trackers due to their high solar irradiance and large-scale solar farms. Additionally, other areas, including parts of the Midwest and Southeast, are also seeing increased adoption, driven by state-level renewable energy mandates and incentives, which will boost the business scenario.

North America Solar Tracker Market Analysis

Based on product, the single axis solar tracker market is anticipated to reach USD 5.9 billion by 2032. Single-axis solar trackers are the most widely adopted in utility projects due to their balance of cost, complexity, and performance. They follow the sun's path from east to west, significantly boosting the energy capture. In addition, as technology advances and costs continue to fall, making them an attractive option for a wider range of solar projects.

Based on application, the utility solar tracker market is set to grow more than 4% CAGR through 2032 on account of their clear advantages in terms of energy yield and economic viability. Growing push for renewable energy and supportive government policies will further drive their adoption, helping to meet renewable energy targets and reduce carbon emissions. Some utility projects are adopting advanced hybrid systems that combine single axis tracking with other technologies, comprising bifacial panels, to further enhance energy yield. These smart tracking systems that use artificial intelligence and real-time data to optimize panel orientation will boost the product adoption.

Based on technology, the PV segment is likely to exceed USD 6.54 billion by 2032 owing to their ability to significantly enhance energy production and improve the economic feasibility of solar projects. Government policies and incentives promoting renewable energy adoption will likely continue to support the deployment of solar trackers in PV plants. Additionally, ongoing innovations in tracker technology, including AI and machine learning integration, are expected to further optimize performance and reduce maintenance costs.

U.S. solar tracker market is projected to surpass USD 6.32 billion by 2032 owing to their ability to significantly enhance energy production and improve the economic feasibility of solar projects. Ongoing government support for renewable energy, through incentives and mandates, will drive the adoption of solar trackers. Growing emphasis on sustainability and clean energy will push more utilities and companies to adopt efficient solar technologies, including trackers which will positively impact the industry growth. In addition, Continued improvements in tracker technology, including AI and machine learning integration, will enhance performance and reduce costs will stimulate the product penetration.

North America Solar Tracker Market Share

Companies are incorporating artificial intelligence (AI) and the Internet of Things (IoT) to create smart tracking systems. By scaling up the production, the companies can further reduce the per unit cost of solar trackers, making them more affordable and attractive for large-scale solar projects. Some companies are developing hybrid solutions that combine tracking technology with other advanced features such as bifacial panels or energy storage systems, providing a more comprehensive energy solution.

North America Solar Tracker Market Companies

Eminent players operating in the North America solar tracker industry are:

• ArcelorMittal
• Arctech
• Array Technologies, Inc.
• DEGERENERGIE GMBH & CO. KG
• GameChange Solar
• Gonvarri Solar Steel
• IDEEMATEC
• Hardware
• Nextracker Inc.
• Powerway Renewable Energy Co., Ltd
• SunPower Corporattion
• Soltec
• Scorpius Trackers
• Trinasolar
  

North America Solar Tracker Industry News

• In May 202, Array Technologies, a leading provider of solar tracking solutions, along with DNV Energy USA (DNV), confirmed their safe, passive wind stow solution that can significantly optimize the energy production. It will further outline the benefits of safe, passive wind stow technology in solar farms, thereby showcasing the industry leadership.
  
• In June 2023, Ideematec along with Parliament Solar, LLC, to provide Horizon L:TEC® 1P solar tracking system for the largest solar project in Texas. Parliament Solar, backed by Mercuria Energy and EnCap Investments L.P. , is set to accelerate the energy transition in North America. It is further designed to maximize the efficiency of large-scale solar systems, thereby offering minimal maintenance requirements and exceptional stability. This further marks the growth of the U.S. utility scale market.
  

This North America solar tracker market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “USD Million & MW” from 2021 to 2032, for the following segments:

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Market, By Product

• Single Axis
  • Horizontal
  • Vertical
• Dual Axis

Market, By Technology

• PV
• CSP

Market, By Application

• Residential
• Commercial & Industrial
• Utility

The above information has been provided for the following countries:

• U.S.
• Canada
• Mexico

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Premium Report Details

• Base Year: 2023
• Companies covered: 14
• Tables & Figures: 20
• Countries covered: 3
• Pages: 80