North America Solar Tracker Market (2024-2029)
The North America Solar Tracker Market was valued at $3934.4 Million in 2024 and projected to reach to $8270.9 Million by 2029, representing a compound annual growth rate of 16.0%. North America's solar tracker market is positioned for sustained expansion through 2029, driven by aggressive renewable energy targets and substantial government incentives.
| Market Size in | USD 26.32 MN |
| Market Forecast in | |
| CAGR | |
| Forecast Period | |
| Units Considered | Value (USD MN) |
North America Solar Tracker Market Trends and Insights
- North America's solar tracker adoption is driven by increasing utility-scale solar installations, favorable renewable energy policies, and declining technology costs across the region.
- The market in North America benefits from strong government incentives, grid modernization initiatives, and corporate sustainability commitments that prioritize solar energy deployment. North America's 16.0% compound annual growth rate reflects accelerating demand for single-axis and dual-axis tracking systems that optimize energy capture and improve project economics.
- North America's competitive landscape includes both established equipment manufacturers and emerging technology providers competing to capture market share in this high-growth segment.
- By 2029, North America is expected to solidify its position as a critical hub for solar tracker innovation and deployment, supported by continued investment in renewable infrastructure and technological advancement..
Key Market Statistics
- CAGR (2024-2029) 16.0% CAGR
- Market Size, 2024 ~USD 3934.4 Million
- Forecast, 2029 ~USD 8270.9 Million
- Geography North America
North America Solar Tracker Market Overview
Strong Market Valuation :
North America's solar tracker market reached $3,934.4 million in 2024, with the US dominating at $7,728.5 million, representing the largest segment in the region's renewable energy infrastructure.
Accelerated Growth Trajectory :
The region is projected to grow from $3,934.4 million (2024) to $8,270.9 million (2029) at a 16% CAGR, outpacing many global markets and reflecting strong investment in utility-scale solar deployment.
Policy-Driven Expansion :
Favorable renewable energy policies, including federal tax credits, state-level mandates, and net metering programs across the US, Canada, and Mexico are accelerating solar tracker adoption and technology deployment.
Technology Cost Decline :
Declining solar tracker technology costs combined with improving efficiency metrics are making utility-scale installations increasingly economical across North America, driving widespread market penetration.
North America Solar Tracker Market Dynamics
- The US leads regional growth with its dominant market share, while Canada and Mexico contribute meaningful expansion through emerging utility-scale projects.
- Declining hardware costs and improved tracking technologies are reducing project economics barriers, enabling broader adoption among independent power producers and utility operators. The region benefits from mature supply chains, established financing mechanisms, and strong grid infrastructure supporting large-scale solar deployment.
- Continued policy support, including the Inflation Reduction Act provisions and state renewable portfolio standards, will sustain investment momentum.
- North America's 16% CAGR reflects confidence in long-term renewable energy transition, positioning the region as a critical growth engine for global solar tracker manufacturers and solution providers..
Related Ecosystem
Decarbonization
- Battery Electric Vehicle (BEV)
- Energy Management Systems
- Fuel Cell
- Fuel Cell Electric Vehicle (FCEV)
- Geographical Information System (GIS)
- TotalEnergies SE
- Siemens ag
- Mitsui & Co., Ltd.
- General Electric Company
- Thyssenkrupp ag
Key Takeaways
- North America's solar tracker market will more than double from $3,934.4M (2024) to $8,270.9M (2029), representing a 16.0% CAGR.
- North America's growth is fueled by utility-scale solar expansion, supportive renewable energy policies, and declining equipment costs.
- North America's market benefits from strong corporate sustainability commitments and federal tax incentives driving solar project development.
- North America's competitive environment features both established manufacturers and innovative startups vying for market leadership in tracking technology.
Solar Tracker Market Report Scope
| Report Metric | Details |
|---|---|
| Base Year | 2024 |
| Fastest Growing Segment | OFF-GRID (Type) |
| Forecast Period | 2024–2029 |
| Growth Rate | CAGR of 17.3% from 2024 to 2029 |
| Largest Segment | GRID-CONNECTED (Type) |
| Market Size Base Year (Billions) | ~USD 10.3 (2024) |
| Revenue Forecast (Billions) | ~USD 22.87 (2029) |
| Segments Covered | Type, Axis Type, Application |
North America Solar Tracker Market Report Segmentation
3 segment dimensions are covered across the global market.
By Type
- Grid-Connected
- Off-Grid
By Axis Type
- Dual-Axis
- Single-Axis
By Application
- Non-Utility
- Utility
Target Audience
- Solar Equipment Manufacturers : Manufacturers need North America market data to assess demand for solar trackers, plan production capacity, and develop region-specific product variants aligned with utility-scale project requirements.
- Renewable Energy Developers : Project developers require market insights to evaluate solar tracker ROI, understand technology adoption rates, and identify optimal deployment strategies across North American utility-scale projects.
- Investment & Financial Institutions : Investors and financial analysts need detailed market forecasts and growth drivers to evaluate investment opportunities, assess portfolio risk, and support funding decisions in North American solar infrastructure.
- Government & Policy Makers : Policymakers benefit from market data to assess renewable energy transition progress, evaluate policy effectiveness, and inform future incentive structures supporting solar tracker deployment.
- System Integrators & EPC Contractors : Engineering and construction firms need market intelligence to forecast project pipelines, plan resource allocation, and identify growth opportunities in North America's expanding utility-scale solar sector.
Key Companies in the North America Solar Tracker Market
| Company | HQ | Ownership | Strongest segments |
|---|---|---|---|
| FTC SOLAR | United States | Public Company | Single-axis – Utility – Grid-connected,Single-axis – Non-utility / C&I,Dual-axis – Utility / Off-grid, |
| VALMONT INDUSTRIES, INC. | United States | Public Company | Single-axis trackers,Dual-axis trackers,Grid-connected applications, |
| XIAMEN GRACE SOLAR NEW ENERGY TECHNOLOGY CO., LTD. | China | Private Company | Single-axis trackers,Dual-axis trackers,Grid-connected applications, |
| ARCELORMITTAL | Luxembourg | Public Company | Single-axis, Grid-connected, Utility,Single-axis, Grid-connected, Non-utility,Dual-axis, Grid-connected, Utility, |
FTC SOLAR
FTC Solar is a publicly traded United States company founded in 2017 with 232 employees that provides solar racking and mounting systems.
VALMONT INDUSTRIES, INC.
Valmont Industries, Inc. is a publicly traded United States company founded in 1946 with 10,791 employees that manufactures infrastructure and agricultural products, including solar tracking systems.
XIAMEN GRACE SOLAR NEW ENERGY TECHNOLOGY CO., LTD.
Xiamen Grace Solar New Energy Technology Co., Ltd. is a China-based private company founded in 2009 that manufactures solar energy products and components.
ARCELORMITTAL
ArcelorMittal is a Luxembourg-based publicly traded company founded in 1976 with 125,554 employees that is the world's largest steel manufacturing company.
Countries within North America - compare and drill down
| Country | 2025 size (native) |
|---|---|
| US | USD 7728.5 Million |
| Canada | USD 289.4 Million |
| Mexico | USD 253 Million |
Country market size visualization
Reasons to Buy this Report
- Market Size & Growth Data : Access precise valuation of North America's $3,934.4M market (2024) and $8,270.9M forecast (2029), with country-level breakdowns for US, Canada, and Mexico to inform investment and expansion strategies.
- Regional Policy Intelligence : Understand how federal incentives, state mandates, and country-specific renewable policies drive solar tracker adoption across North America, enabling compliant business planning and market entry strategies.
- Competitive Landscape Insights : Identify market dynamics, technology trends, and competitive positioning specific to North America's utility-scale solar sector to benchmark performance and identify partnership opportunities.
- Investment Decision Support : Leverage detailed market forecasts and growth drivers to support capital allocation decisions, project feasibility assessments, and portfolio optimization for solar tracker manufacturers and installers.
- Country-Level Market Segmentation : Analyze individual market performance across US ($7,728.5M), Canada ($289.4M), and Mexico ($253M) to prioritize geographic expansion, localize product strategies, and optimize resource deployment.
Frequently asked questions
What is the current size of the North America solar tracker market?
The North America solar tracker market was valued at $3,934.4 million in 2024 and is expected to reach $8,270.9 million by 2029.
What is the projected growth rate for North America's solar tracker market?
North America's solar tracker market is projected to grow at a compound annual growth rate (CAGR) of 16.0% from 2024 to 2029.
What factors are driving growth in North America's solar tracker market?
North America's market growth is driven by increasing utility-scale solar installations, favorable renewable energy policies, declining technology costs, federal tax incentives, and corporate sustainability commitments.
Which types of solar trackers are most prevalent in North America?
North America's market features both single-axis and dual-axis tracking systems, with single-axis trackers dominating utility-scale projects due to cost-effectiveness and dual-axis systems gaining traction in high-value applications.
Who are the key competitors in North America's solar tracker market?
North America's competitive landscape includes established equipment manufacturers, regional suppliers, and emerging technology providers focused on innovation in tracking systems and software optimization.
RESEARCH METHODOLOGY
The study involved major activities in estimating the current size of the solar tracker market. Exhaustive secondary research was done to collect information on the peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.
Secondary Research
In the secondary research process, information was sourced from annual reports, press releases & investor presentations of companies, white papers, certified publications, trade directories, articles from recognized authors, gold- and silver-standard websites, and databases. Secondary research was used to obtain critical information about the industry’s value chain, the pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. It has also been used to obtain information about key developments from a market-oriented perspective.
Primary Research
The solar tracker market comprises several stakeholders in the supply chain, including raw material suppliers, product manufacturers, vendors or distributors, and end users. Various primary sources from the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Primary sources from the demand side included key opinion leaders from various end-use applications.
Note 1: Others include sales managers, marketing managers, and product managers.
Note 2: Tier 1 companies’ revenues are more than USD 10 billion; tier 2 companies’ revenues range between USD 1 and 10 billion; and tier 3 companies’ revenues range between USD 500 million and USD 1 billion.
Source: Industry Experts
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The top-down and bottom-up approaches were used to estimate and validate the size of the global solar tracker market and evaluate the sizes of various dependent submarkets. The key players in the market were identified through secondary research, and their shares in the respective regions were determined through primary and secondary research. This entire procedure included studying annual and financial reports of top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Solar Tracker Market : Top-Down and Bottom-Up Approach
Data Triangulation
After arriving at the total market size, the overall market was split into several segments. The data triangulation procedure was used, wherever applicable, to complete the overall market engineering process and determine the exact statistics for all segments. The data was triangulated by studying various factors and trends from the demand and supply sides. Moreover, the market size was validated using top-down and bottom-up approaches. Hence, there are three sources for each data segment: the top-down approach, the bottom-up approach, and interviews with experts. Only when the values from the three points matched, the data was assumed to be correct.
Market Definition
A solar tracker is an advanced mechanical system designed to optimize solar energy capture by dynamically adjusting the orientation of solar panels or other photovoltaic applications to maintain direct alignment with the sun's trajectory throughout the day. This technology is particularly advantageous in high-latitude regions, where seasonal variations in solar irradiance are significant. Solar trackers can increase electricity generation by approximately 30%, with reported enhancements reaching up to 40% in some locales, thereby improving overall energy yield and efficiency under varying solar conditions. The most popular uses of solar trackers are for orienting space observatories to detect the sun's direction and for positioning photovoltaic (PV) panels, or solar panels, to ensure that they stay perpendicular to the sun's rays. PV solar trackers adjust the direction of solar panels to follow the sun's movement across the sky. By keeping the panels perpendicular to the sun, they receive more sunlight, which reduces reflection and increases energy absorption. This process allows for greater power production from the captured energy.
Stakeholders
- Solar tracker manufacturers
- Universities, governments, and research organizations
- Solar associations and industrial bodies
- Research and consulting firms
- R&D institutions
- Environmental support agencies
- Investment banks and private equity firms
Report Objectives
- To describe and forecast the global solar tracker market, in terms of volume and value
- To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing market growth
- To analyze the market segmentation and forecast the market size based on axis type, application, and region
- To evaluate and forecast the market size in North America, Europe, Asia Pacific, South America, and the Middle East & Africa, along with their key countries
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contribution of submarkets to the total market
- To assess the market opportunities and competitive landscape for stakeholders and market leaders
- To analyze competitive developments in the market, such as expansions, partnerships, and agreements
- To profile key players and comprehensively analyze their market share and core competencies2
Available Customizations
MarketsandMarkets offers customizations according to the specific needs of the companies using the given market data.
The following customization options are available for the report:
Product Analysis
- Product matrix, which gives a detailed comparison of the product portfolio of each company
Geographic Analysis as per Feasibility
- Further breakdown of the solar tracker market by country for the European region
Company Information
- Detailed analysis and profiling of additional market players (up to five)
Get the Full Solar Tracker Market Report
Full forecast, segment splits, and company analysis for all Solar Tracker Market.
- Canada Solar Tracker Market
- Mexico Solar Tracker Market
- US Solar Tracker Market
- Germany Solar Tracker Market
- Italy Solar Tracker Market
- Spain Solar Tracker Market
- Rest Of Europe Solar Tracker Market
- China Solar Tracker Market
- India Solar Tracker Market
- Japan Solar Tracker Market
- South Korea Solar Tracker Market
- Rest Of Asia Pacific Solar Tracker Market
- Brazil Solar Tracker Market
- Rest Of Latin America Solar Tracker Market
- Saudi Arabia Solar Tracker Market
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