The global solar tracker market is set to hit a new high in 2024 – with 111 GW of equipment shipped worldwide, data from the report shows.Global solar PV tracker market share 2024”, prepared by the consultancy Wood Mackenzie.
According to the study, the volume represents a 20% increase compared to the previous year. Among the main drivers of this growth are the markets of India and Saudi Arabia, which together accounted for around 28 GW of demand — even surpassing the whole of Europe in the same period.
“The year was marked by rapid growth in the Indian and Saudi Arabian tracker markets, which has led to a reshaping of the US-dominated podium from 2023 onwards,” said Joe Shangraw, associate research fellow at Wood Mackenzie.
Nextracker maintains global leadership
Nextracker maintained its global leadership for the tenth consecutive year, with 26% market share and 28,5 GW of trackers shipped. The company’s annual growth was 39% — the highest since 2018/2019 — with market share expanding in all major regions.
Next, Arctech Solar, the largest China-based tracker supplier, took the second place globally, beating out the likes of Array Technologies, Game Change Solar and PV Hardware. Arctech was No. 1 in both the Saudi Arabian and Indian markets.
The survey also points out that several Chinese suppliers have been expanding operations outside the country, as domestic demand in China has been falling for the second year in a row.
US market decline
In the United States, historically the largest market for solar trackers, the scenario was one of contraction. In 2024, the country registered 33 GW of shipments — a drop of 9% compared to the record of 2023.
Another highlight was the change in the composition of the local podium: Game Change Solar rose to second place, overtaking Array Technologies, which faced a reduction of more than 35% in its domestic shipments.
Still, the three main companies in the sector — Nextracker, GameChange and Array — continue to hold almost 90% of the US market share.
Ranking highlights the main tracker manufacturers for DG projects
Europe maintains competitive profile
Na Europe, the scenario remains competitive and fragmented. More than nine suppliers divided the market, with shares ranging from 5% to 15%. Spain led regional demand in 2024, with highlights for the performances of Solar Steel and Nextracker itself.
Furthermore, European growth was also driven by emerging markets in the south and center of the continent, where companies such as Axial Structural Solutions, Zimmermann and Trina Tracker expanded their presence.
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