US Solar Tracker Market (2024-2029)
The US Solar Tracker Market was valued at $3622 Million in 2024 and projected to reach to $7728.5 Million by 2029, representing a compound annual growth rate of 16.4%. The US solar tracker market is positioned for sustained growth through 2029, driven by aggressive renewable energy targets and the transition toward utility-scale solar infrastructure.
| Market Size in | USD 26.32 MN |
| Market Forecast in | |
| CAGR | |
| Forecast Period | |
| Units Considered | Value (USD MN) |
US Solar Tracker Market Trends and Insights
- This expansion reflects the US commitment to renewable energy adoption and utility-scale solar deployment across diverse regions.
- The US market benefits from favorable federal incentives, declining equipment costs, and increasing utility demand for efficient solar installations that maximize energy capture. Driving this growth, the US is witnessing accelerated adoption of single-axis and dual-axis tracking systems in utility-scale projects.
- The US solar tracker market's 16.4% compound annual growth rate outpaces many alternative renewable technologies, positioning the country as a key hub for tracker innovation and deployment.
- By 2029, the US is expected to solidify its position as a leading market for advanced solar tracking solutions, supported by grid modernization initiatives and corporate renewable energy commitments..
Key Market Statistics
- CAGR (2024-2029) 16.4% CAGR
- Market Size, 2024 ~USD 3622 Million
- Forecast, 2029 ~USD 7728.5 Million
- Country US
US Solar Tracker Market Overview
Market Valuation Growth :
The US solar tracker market is valued at $3,622.0 million in 2024 and is projected to reach $7,728.5 million by 2029, representing a robust 16.4% CAGR over the forecast period.
Federal Incentive Support :
US market expansion is driven by favorable federal tax credits, Investment Tax Credits (ITC), and state-level renewable energy mandates that incentivize utility-scale solar deployment across regions.
Utility-Scale Deployment :
Increasing utility demand for efficient solar energy generation is accelerating tracker adoption across diverse US regions, with particular growth in high-insolation areas like the Southwest and Southeast.
Cost Competitiveness :
Declining equipment costs and improved tracker technology efficiency are making solar tracking systems increasingly cost-effective for large-scale solar projects, enhancing ROI for US developers.
US Solar Tracker Market Dynamics
- Federal support mechanisms, including the Inflation Reduction Act provisions, continue to enhance project economics and accelerate tracker adoption across utility, commercial, and industrial segments.
- Regional expansion is expected across high-potential markets in the Southwest, Southeast, and Great Plains regions. Technological advancements in dual-axis tracking systems and AI-driven optimization are improving energy yield and operational efficiency, further justifying capital investment.
- As grid modernization initiatives progress and energy storage integration increases, solar trackers will play a critical role in maximizing renewable energy generation capacity.
- Market consolidation among manufacturers and increasing competition will continue to drive innovation and cost reduction through 2029..
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
- The US solar tracker market is valued at $3,622.0 million in 2024 and will reach $7,728.5 million by 2029, representing a 16.4% CAGR.
- The US benefits from federal tax credits, investment tax credits, and state-level renewable portfolio standards that accelerate tracker adoption.
- Single-axis trackers dominate the US utility-scale segment due to cost-effectiveness and proven performance in diverse climates.
- The US market is driven by major utility companies and independent power producers seeking to optimize energy yield and reduce levelized cost of electricity.
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 |
US 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 US-specific market data to optimize production capacity, identify regional demand hotspots, and develop competitive pricing strategies aligned with federal incentive structures and utility procurement cycles.
- Utility & Energy Companies : Utilities require detailed market forecasts and technology performance metrics to evaluate tracker ROI, plan large-scale solar deployments, and align capital expenditure with renewable energy mandates and grid modernization goals.
- Solar Project Developers : Developers need market insights to assess project viability, understand regional growth trends, evaluate equipment supplier options, and optimize tracker selection for maximum energy yield and cost efficiency.
- Investment & Financial Analysts : Investors and analysts require verified market sizing, growth forecasts, and trend analysis to evaluate solar sector opportunities, assess company valuations, and identify emerging market segments in the US renewable energy landscape.
- Policy & Government Agencies : Government bodies and policy makers need market data to assess renewable energy program effectiveness, evaluate incentive impact on deployment rates, and inform future energy policy and infrastructure investment decisions.
Key Companies in the US 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.
Reasons to Buy this Report
- Market Size & Growth Validation : Obtain precise US market valuation ($3.6B in 2024) and verified forecast data ($7.7B by 2029) to support investment decisions, business planning, and competitive positioning in the American solar tracker sector.
- Regional Deployment Insights : Understand geographic growth patterns across US regions, identifying high-opportunity markets in the Southwest, Southeast, and Great Plains for targeted expansion and resource allocation strategies.
- Federal Policy & Incentive Analysis : Access detailed analysis of US federal tax credits, ITC provisions, and state-level mandates that directly impact project economics, enabling accurate ROI modeling and policy-driven opportunity assessment.
- Competitive Landscape Intelligence : Benchmark against market trends, manufacturer strategies, and technology adoption patterns specific to the US market to identify competitive advantages and partnership opportunities.
- Technology & Cost Trend Data : Leverage insights on declining equipment costs, dual-axis system efficiency gains, and AI-driven optimization trends to inform product development and pricing strategies for US market penetration.
Frequently asked questions
What is the current size of the US solar tracker market?
The US solar tracker market is valued at $3,622.0 million in 2024 and is projected to grow to $7,728.5 million by 2029.
What is the growth rate of the US solar tracker market?
The US solar tracker market is growing at a compound annual growth rate (CAGR) of 16.4% from 2024 to 2029.
What types of solar trackers are most popular in the US?
Single-axis trackers are the most widely deployed in the US due to their cost-effectiveness, while dual-axis trackers are gaining traction in utility-scale projects seeking maximum energy optimization.
What factors are driving growth in the US solar tracker market?
Key drivers include federal investment tax credits, declining tracker costs, utility-scale solar expansion, corporate renewable energy goals, and grid modernization initiatives across the US.
Which regions in the US are leading solar tracker adoption?
The US Southwest, Texas, and California lead tracker adoption due to high solar irradiance, supportive policies, and significant utility-scale project pipelines.
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
- 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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