Solar Tracker Market To Reach $16 Billion By 2031 Growth Driven By Renewable Energy Shift & Technological Innovation

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Solar Tracker Market Growth Forecast: Rising Government Initiatives & IoT Adoption Power Industry Expansion

Solar Tracker Market projected to hit $16B by 2031, driven by global energy demand, AI & IoT innovations, and eco-friendly power solutions.” - Allied Market ResearchWILMINGTON, DE, UNITED STATES, September 15, 2025 /EINPresswire / --

The global Solar Tracker Market is projected to grow from $8.9 billion in 2021 to $16.0 billion by 2031, at a steady CAGR of 6.1% during the forecast period from 2022 to 2031, according to a new report by Allied Market Research.

Solar trackers are innovative systems designed to optimize energy generation from solar panels. These devices allow solar panels to follow the sun's daily movement from east to west, ensuring that panels remain oriented for maximum solar irradiation and energy output throughout the day. Solar trackers are widely used across residential, commercial, agricultural, and industrial applications, including rooftop installations, traffic signals, street lighting, small power plants, and more.

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🌿 Key Market Growth Drivers

Several key factors are driving the growth of the Solar Tracker Market:

Rising Global Energy Demand: The world's increasing reliance on renewable energy is driving the adoption of solar trackers to maximize energy production.

Environmental Awareness & Depletion of Fossil Fuels: Governments and industries are focusing on sustainable solutions to reduce carbon emissions and dependence on fossil fuels.

Government Initiatives: Countries like the U.S., India, and China are promoting solar energy through favorable policies and subsidies, boosting demand for solar trackers.

Technological Innovation: Incorporation of IoT (Internet of Things) and AI (Artificial Intelligence) in solar tracker systems enhances performance, predictive maintenance, and real-time tracking efficiency, providing new growth opportunities for manufacturers.

⚠️ Market Challenges

Despite significant growth prospects, the solar tracker market faces challenges that may hinder expansion:

Rising Steel Costs: Steel accounts for over 65% of the total cost of solar tracking systems. Increased steel prices make solar tracker installations more expensive, especially in utility-scale projects.

High Installation Costs: Installing solar tracking systems remains costlier than fixed solar panels, which deters adoption in residential setups where energy demand is comparatively low.

🌟 Emerging Market Trends

One major trend identified in the solar tracker market is the development of trackers designed for unusual terrains, such as capped landfills. These specialized solutions enable efficient use of non-traditional land for solar energy projects . Typically, solar trackers are installed on posts either driven directly into the ground or using ballast systems, expanding their adaptability.

Additionally, increasing manufacturing activities, availability of low-cost feedstock, and the emergence of local manufacturers offering competitive prices are expected to create lucrative opportunities for market expansion.

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📊 Market Segmentation Insights

By Type:

The solar axis segment is expected to register the highest growth, with a CAGR of 6.3%. These systems allow precise tracking of the sun's position to maximize energy yield.

By Technology:

The photovoltaic (PV) segment is anticipated to lead the market and register the highest CAGR of 6.3% during the forecast period, as PV technology becomes more efficient and affordable.

By Application:

The utility segment is projected to show the fastest growth at a CAGR of 6.3%. Utility-scale solar projects increasingly adopt tracking systems to enhance energy output and efficiency.

🏭 Key Industry Players

Prominent companies active in the global Solar Tracker Market include:

Array Technologies, Inc.

Convert Italia

Nextracker Inc.

SunPower Corporation

Trina Solar

DEGERENERGIE GMBH & CO. KG

GameChange Solar

STI Norland

Ideematec

PV Hardware

MECASOLAR

Mechatron

OPTIMUM TRACKER

Powerway Renewable Energy Co. Ltd.

Schletter

These industry leaders focus on innovation, efficiency improvements, and expansion strategies to capture market share and meet the rising demand for solar trackers globally.

🦠 COVID-19 Impact Analysis

The COVID-19 pandemic significantly affected the Solar Tracker Market:

Lockdowns in major markets like the U.S., China, and India caused supply chain disruptions and raw material shortages, forcing manufacturing units to shut down temporarily.

Labor shortages and transportation restrictions further aggravated supply chain challenges.

Rising shipment costs, taxes, fuel prices, and disruptions in logistics led to delays in product delivery and increased costs.

However, government support for renewable energy, along with rising energy demand post-pandemic, is expected to revive and accelerate market growth in the coming years.

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🌞 Future Outlook

The future of the Solar Tracker Market appears highly promising. With the global shift towards sustainable energy solutions, ongoing innovations in smart technologies, and government incentives driving solar adoption, solar trackers are expected to become an indispensable part of the solar energy ecosystem.

Increasing energy awareness, competitive local manufacturing, and decreasing feedstock costs will further accelerate the adoption of solar trackers. As the world invests in clean energy and digital solutions, the solar tracker market will remain pivotal in improving solar energy efficiency across sectors.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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