Solar PV Tracker Market size is estimated to be USD 6.45 Billion in 2024 and is expected to reach USD 15.76 Billion by 2033 at a CAGR of 10.4% from 2026 to 2033.
In 2022, the global solar tracker market was valued at USD 3.8 billion and is projected to reach USD 28.9 billion by 2030, reflecting a compound annual growth rate (CAGR) of 25.4% during the forecast period. North America held a significant portion of this market, accounting for approximately 40% of global revenue. This dominance is attributed to supportive government policies, technological advancements, and a strong emphasis on renewable energy adoption. Europe followed, representing around 30% of the market share, driven by ambitious renewable energy targets and favorable incentives. The Asia Pacific region, with a 23% market share, is experiencing rapid growth due to increasing energy demand, supportive governmental initiatives, and abundant solar resources. Latin America and the Middle East & Africa held smaller shares, at 5% and 2% respectively, but are anticipated to grow due to rising energy needs and favorable climatic conditions. The market presents substantial opportunities across various regions. In North America, continuous technological innovations and decreasing costs of solar technologies are expected to further drive market expansion. Europes focus on energy independence and sustainability goals positions it for increased solar tracker adoption. The Asia Pacific region offers significant potential, particularly in countries like China and India, where rapid industrialization and urbanization are escalating energy demands. Latin America and the Middle East & Africa, with their vast land availability and high solar irradiance, present opportunities for large scale solar projects, supported by increasing investments and policy support aimed at diversifying energy sources and reducing reliance on fossil fuels.
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Arctech
Array Technologies
Convert Italia
First Solar
NEXTracker
Abengoa
AllEarth Renewables
Edisun Microgrids
Exosun
GameChange Solar
Haosolar
Mahindra Susten
Scorpius Trackers
Solar FlexRack
Soltec
Sun Action Trackers
SunLink
SunPower
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Solar PV Tracker Market
Single-Axis Trackers
Dual-Axis Trackers
Active Trackers
Passive Trackers
Utility-Scale Solar Power Plants
Commercial Solar Installations
Residential Solar Systems
Ground-Mounted Systems
Roof-Mounted Systems
Government and Public Sector
Private Sector & Commercial Entities
Residential Users
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Solar PV Tracker Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Solar PV Tracker Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Solar PV Tracker Market, By Type
6. Global Solar PV Tracker Market, By Application
7. Global Solar PV Tracker Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Solar PV Tracker Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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