The global solar PV tracker market continued its upward trajectory in 2024, with total shipments rising 20% year-on-year to reach a record 111 GW DC, according to a new report by Wood Mackenzie that calls it the strongest year on record.  

For US-based Nextracker, it marked the 10th consecutive year to hold the crown at the top. Its shipments went up by 39% YoY to 28.5 GW DC, capturing 26% of the market share and expanding its presence in every major region.  

China’s Arctech Solar followed next with a leading position in India and Saudi Arabia. It displaced US-based Array Technologies, which slipped to the 5th position in the rankings that the Chinese supplier held in 2023 (see Global Solar PV Tracker Shipments In 2023 Totaled 92 GW DC).  

Wood Mackenzie Research Associate Joe Shangraw pointed out that several Chinese suppliers expanded overseas as domestic demand declined for the 2nd consecutive year.

US’ GameChange Solar remained at the 3rd spot, followed by Spain’s PV Hardware on 4th, as per Wood Mackenzie’s Global solar PV tracker market share 2024 report.

The growth in this market segment was led by increasing demand from large-scale projects in India and Saudi Arabia, as their combined share was 28 GW DC, exceeding all combined shipments to Europe.

While the largest destination was still the US with 33 GW DC capacity, it went down by 9% over 2023, its 1st decline in 8 years, says Wood Mackenzie. 

On the other hand, Europe was one of the most competitive and diverse markets in the tracker domain, as a total of over 9 vendors shared between 5% and 15% of the market. The largest location on the continent was Spain, which saw its highest demand ever. Solar Steel and Nextracker have the largest market share. Companies such as Axial Structural Solutions, Zimmermann, and TrinaTracker’s business thrived in Southern and Central Europe, which represented much of the regional growth last year.

The complete report can be purchased from Wood Mackenzie’s website for $5,990.