North America Solar Tracker Market Size (2024 - 2029)

North America Solar Tracker Market Analysis

The North America Solar Tracker Market size is estimated at USD 20.24 billion in 2024, and is expected to reach USD 54.93 billion by 2029, growing at a CAGR of 21.93% during the forecast period (2024-2029).

• Over the medium term, the solar tracker market in the North American region is expected to thrive due to the government's initiatives to expand the renewable energy share in the power generation portfolio and increase the adoption of solar energy.
• On the other hand, the intense competition from natural gas and other renewable energy sources is expected to hinder market growth in the near future.
• Nevertheless, as solar trackers increase the solar power generating capacity of solar panels, thus technological advancements in solar trackers are expected to create ample opportunities for the market.
• The United States is expected to dominate the market due to government initiatives to expand its solar energy portfolio.

North America Solar Tracker Industry Segmentation

Solar trackers are devices that position solar panels at an angle relative to the sun in such a way that more sunlight strikes the solar panels, more energy can be absorbed, and more energy can be converted into electrical power. These devices are generally used for utility-scale solar projects.

The North American solar tracker market is segmented by axis type and geography. By axis-type, the market is segmented into single-axis and dual-axis. The report also covers the market size and forecasts for the North American solar tracker market across major countries. For each segment, the market sizing and forecasts have been done based on revenue (in USD).