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Overall, 752GW of trackers will be installed between 2024 and 2030. Of this capacity, 39% will be from North America, followed by EMEA (31%), the Asia-Pacific region (22%) and South America (8%).

The North American market is expected to grow to 50GW annual additions by 2030, with most installations in the US. By 2026, installations in the US are forecast to increase to over 40 GW. Although the Mexican utility-scale solar PV market has decreased from its historical highs during 2018-2020, its tracker market is expected to grow and exceed 1GW per year from 2028 onwards.

In the EMEA market, tracker installations in Spain are forecast to fall steadily starting from 2025 due to grid connection policies and oversupply. However, the growth in the Middle East will offset the decline in the Spanish market, as large projects are expected to come online between 2028 and 2030 in the region.

The gradual growth in the rest of the European market through 2030 will be partly driven by a modest increase in the attachment rate as countries become more confident in tracker technology. Specifically, countries like Serbia, Bulgaria, and Romania could experience a rise in the adoption of solar trackers.

The APAC market will grow significantly from 2023 to 2030 driven by India and China. Last year, APAC’s tracker installations were only about 10GW, but S&P Global predicts that it will grow to 29GW annual additions by 2030. The Chinese market will increase by about 50%, from 6GW to 10GW throughout the forecast period, while the Indian market is forecast to reach 12GW by 2030, driven by both rising attachment rates and increases in utility-scale installations.

Australia is also another market that will experience significant growth in the upcoming years, especially between 2027 and 2028.

Tracker installations in Uzbekistan are set to increase in 2024 thanks to large utility-scale projects coming online in 2024.