S&p Global said in its 2024 Solar Tracking Bracket Systems Market Report that global installations will be about 60GW in 2023 and are expected to exceed 80GW in 2024. By 2027, more than 100GW of tracking brackets will be installed worldwide. Most of them come from North America and the Europe, Middle East and Africa (EMEA) markets.

In total, 752GW of tracking bracket systems will be installed between 2024 and 2030. Of these, 39 percent will come from North America, followed by Europe, the Middle East and Africa (31 percent), Asia Pacific (22 percent) and South America (8 percent).

The North American market is expected to grow to 50GW per year by 2030, with the majority of installations in the United States. By 2026, installations in the United States are expected to increase to more than 40GW.

While the Mexican large ground plant solar market has fallen from its all-time high in 2018-2020, its tracker market is expected to grow and exceed 1GW per year from 2028 onwards.

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

Until 2030, the market in the rest of Europe will gradually grow, partly due to a slight increase in the installation rate of tracking mount systems as countries increase confidence in tracking technology. In particular, countries such as Serbia, Bulgaria and Romania are likely to see an increase in the adoption of solar trackers.

Driven by India and China, the Asia-Pacific market will grow significantly from 2023 to 2030. Tracking bracket usage in the Asia-Pacific region was only around 10GW last year, but S&P Global forecasts annual new installations will grow to 29GW by 2030.

The Chinese market will grow by about 50% throughout the forecast period, from 6GW to 10GW, while the Indian market is expected to reach 12GW by 2030, driven by rising installation rates and increased installations of large surface power stations.

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

As several large ground power station projects will come into operation in 2024, Uzbekistan's tracking bracket is expected to increase in 2024.

The world's leading solar tracking system company

The concentration of the global tracking mount system industry has decreased in 2023, with the top four suppliers providing only 59% of tracking mount systems to the market.

Last year, Nextracker was the leading tracker manufacturer, supplying 22 percent of trackers worldwide, followed by Array Technologies with 15 percent, GameChange Solar with 12 percent, and PV Hardware with 10 percent.

Looking at the shipment changes of tracking stent suppliers from 2022 to 2023, Zhongxinbo (about 4,500MW), Trina Solar and Nextracker are the top three companies with the fastest growth. Heroic sun single: orders in hand soared 183.11%!

Shipments in the North American tracking bracket market increased from 34GW in 2022 to 37GW in 2023. Among them, Nextracker, Array Technologies and GameChange Solar accounted for 89% of the total shipments, accounting for 36%, 29% and 24%, respectively, with approximately 98% of shipments in the North American market shipped to the United States.

More than 27GW of solar tracking system shipments were delivered to the Europe, Middle East and Africa region, an increase of 48% year-over-year. The EMEA market is less concentrated, with the top three vendors accounting for only 50% of the market share.

The main players are PV Hardware with 29%, followed by Solar Steel with 11% and Nextracker with 10%.

In the Asia-Pacific region, Zhongxinbo's share reached 32 percent, the largest share in the market. JSolar and Nextracker, ranked second and third, account for only 13% and 12% of the market, respectively.

However, 17% of the market share comes from multiple solar tracking mount companies, which means that the market in Asia Pacific is composed of small solar PV tracking mount system suppliers.trina solar panels