I. Continued Global Market Growth, Trackers Become Dominant Direction

1.1 Steady Market Expansion

In 2024, the global ground-mount solar PV mounting system market was valued at $37.3 billion, and is expected to grow at a CAGR of 4.7% from 2025 to 2034. According to a survey by Hengzhou Chengsi, the global solar PV mounting system market was approximately RMB 117.71 billion in 2024, and is expected to approach RMB 199.84 billion by 2031, with a CAGR of 7.4% over the next six years. Other industry data indicates that the global solar PV mounting market was approximately $18.5 billion in 2024 and is expected to reach $57.68 billion by 2031, with a CAGR possibly as high as 17.9%. The discrepancies among different statistical sources stem from different definitions and scopes of various mounting products (fixed, tracker, flexible, etc.) and systems, but all major research institutions give clear positive expectations for long-term market growth.

Tracking systems grow faster, market space continues to expand. Based on research by BloombergNEF, IEA, CPIA, and Wood Mackenzie, the estimated tracker market space from 2024 to 2027 is RMB 79.7 billion, 93.8 billion, 104.2 billion, and 116.3 billion respectively, representing an average CAGR of 27.4%. Over the same period, the global fixed mounting market space is estimated at RMB 103.9 billion, 104.4 billion, 105.0 billion, and 107.2 billion respectively, with an average CAGR of about 9.5%. Trackers are becoming increasingly important in PV ground-mount plants: globally, more than 40% of ground-mount PV systems use trackers, and in some countries the figure exceeds 80%.

1.2 Global Competitive Landscape Shifts, Chinese Manufacturers Rise

Tracker shipments hit record highs. According to a report by Wood Mackenzie, global PV tracker shipment volume grew 20% year-on-year in 2024, reaching 111 GW. Arctech's shipment growth was particularly remarkable, with full-year tracker system shipments of 17.41 GW, up 127.93% year-on-year. According to Wood Mackenzie statistics, Arctech's global tracker market share rose from 9% in 2023 to 16% in 2024, jumping from fifth to second globally. TrinaTracker achieved a global share of 6%, ranking sixth globally, while Xiamen Antai New Energy entered the top ten for the first time, ranking ninth. In 2024, Chinese tracker manufacturers achieved both volume and share growth in the global market.

Regional markets show differentiated development. The United States remained the world's largest tracker market, with annual shipments of 33 GW, but down 9% year-on-year – the first decline in eight years. India, Saudi Arabia, and Europe maintained year-on-year growth. Tracker penetration in ground-mount PV plants in overseas markets is as high as 70%, most notably in the US, Europe, and Latin America. In contrast, domestic tracker penetration in ground-mount plants is only about 10%, showing a significant gap between domestic and overseas markets.

II. Accelerated Technology Iteration, Smart and Diversified Development

2.1 Continuous Tracker Technology Refinement, Smartization as Core Trend

Significant power generation gains. By tracking the sun's trajectory in real time, trackers achieve optimal tilt angles between PV modules and sunlight, boosting power generation by 15–20%. Combined with smart tracking algorithms, plant power generation gains can be further increased. Integrated smart monitoring platforms not only provide full visibility into plant operating status but also greatly improve power generation efficiency and maintenance management efficiency.

Multi-point drive design becomes mainstream, AI smart algorithms empower. Although different technology paths vary, multi-point drive design has become the mainstream trend in the tracker market. Companies continuously optimize control algorithms, integrating weather, cloud cover changes, and even AI technology to improve system accuracy and efficiency. In February 2024, TrinaTracker released its latest generation of smart control system solution, including smart electric control system, Trina Smart Cloud, and SuperTrack smart algorithm, which can increase power generation gain by up to 8%. Trackers are no longer simple mechanical devices but integrate electrical control, algorithms, and digital platforms, achieving cross-domain technology integration and value reshaping.

2.2 Flexible Mounts Rise, Scenario Adaptability Continues to Expand

As more projects shift to challenging terrains such as mountains, hills, and tidal flats, flexible mounts that can make full use of complex terrain have become a new market favorite. At the SNEC exhibition, Arctech released the world's first wireless multi-point parallel drive flexible tracker mounting system "Tianrou," featuring 10m headroom, 35m span, and north-south slope of 60%, which solves the problem that conventional PV mounts cannot span hills and gullies, effectively reducing land leveling costs and improving land utilization.

At the policy level, flexible mounts have received support – the National Energy Administration and the National Forestry and Grassland Administration encourage the use of large-span flexible PV mounts in PV sand control projects. Provinces such as Hunan, Guangxi, Shandong, and Shanxi also provide broad development space for flexible mounts in the "agri-PV" field.

2.3 New Materials and Innovative Designs Continue to Emerge

New materials accelerate adoption. In 2024, HUEG launched a C-shaped ground-mount system made of zinc-aluminum-magnesium coated steel with a patented clamp fixture, offering excellent corrosion resistance and self-healing properties, with a service life exceeding 35 years. Companies such as Fujian Kesheng and Mibet are widely using aluminum alloy and carbon steel composite designs to improve lightweight characteristics and corrosion resistance. In the field of fiber-reinforced resin matrix composites, the industry is also actively exploring new FRP PV mounts to further reduce costs and improve efficiency.

Innovative designs help reduce costs and increase efficiency. For agri-PV and other application scenarios, projects using pre-stressed cable technologies reduce foundation usage by 60-80%, effectively lowering the overall investment cost of PV plants while improving land utilization under complex terrain.

III. Chinese Companies Accelerate Overseas Expansion, Global Competitiveness Continues to Rise

3.1 Arctech, TrinaTracker, Antai New Energy Deploy Globally

Arctech achieves impressive global results. In 2024, Arctech achieved revenue of RMB 8.973 billion, up 40.42% year-on-year, and net profit attributable to parent company of RMB 647 million, up 87.60%. As of June 30, 2024, the company had on-hand orders of approximately RMB 6.669 billion, of which trackers accounted for about RMB 5.549 billion, up about 183.11% year-on-year. Arctech has installed nearly 1,600 projects in over 40 countries and regions, and its global marketing network and supply chain system have largely taken shape. At the SNEC Shanghai PV exhibition, Arctech signed strategic cooperation agreements with multiple EPC companies including Dongfang Electric, PowerChina International, and CNEEC, totaling more than 2.3 GW.

Overseas production capacity construction accelerates. Arctech's Jeddah plant (Phase I) officially started production in March 2024 with designed capacity of 3 GW, and combined with global supply chain can achieve 10 GW of local delivery capacity; its Bahia, Brazil production base was inaugurated in September 2024 with planned annual capacity of 3 GW. TrinaTracker set up a smart tracker manufacturing plant in Saudi Arabia and won multiple GW-level orders. Antai New Energy formed a joint venture with Saudi Bahra Electric to build a Jeddah production base, with capacity expected to gradually increase to 24 GW in future years.

3.2 Bright Overseas Prospects for Trackers

In 2024, the US market showed a clear decline, while domestic companies actively turned to growth markets such as India, the Middle East, and Europe. Arctech signed new contracts exceeding 6.7 GW in India, covering multiple large-scale projects. In Saudi Arabia, Latin America and other countries, Chinese mounting companies continued to win GW-level orders. Arctech Chairman Cai Hao said that modules are standardized products while mounts are custom solutions, and technological innovation can help companies stay competitive in high-margin markets. China's PV mounting exports reached $4.455 billion in 2024, and leading companies are further expanding market share relying on global delivery systems.

IV. Gradual Improvement of Industry Standards, Quality Becomes the Theme

In 2024, the PV mounting industry made many advances in standard system development. In September, the Ministry of Industry and Information Technology (MIIT) issued the "Guidelines for the Construction of PV Industry Standard System (2024 Edition)", proposing to formulate over 60 new national and industry standards by 2026, achieving full coverage of basic common standards and key standards in the PV industry.

Meanwhile, the China United Procurement Promotion Association released the group standard T/UNP 193–2024 "General Technical Specification for PV Mounts", providing a unified technical specification basis for the industry. Organizations such as the National Steel Standardization Technical Committee also carried out review and formulation of many standards around core products such as PV mounting steel sections.

Ma Weiming, President of TrinaTracker Business Unit, proposed four initiatives at the 7th China Energy Industry Development Annual Conference, including establishing and promoting high standards, strengthening supervision, innovation-driven development, and policy-oriented support, calling on the tracker industry to adhere to safety bottom lines and jointly promote high-quality, high-level, and sustainable development.