Asia Pacific Solar Tracker Market Size & Outlook
Asia Pacific solar tracker market, 2018-2030 (US$M)
Related Markets
Asia Pacific solar tracker market highlights
- The Asia Pacific solar tracker market generated a revenue of USD 1,117.0 million in 2023.
- The market is expected to grow at a CAGR of 20.3% from 2024 to 2030.
- In terms of segment, single axis was the largest revenue generating product in 2023.
- Dual Axis is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 1,117.0 million |
| Market revenue in 2030 | USD 4,076.6 million |
| Growth rate | 20.3% (CAGR from 2023 to 2030) |
| Largest segment | Single axis |
| Fastest growing segment | Dual Axis |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Single Axis, Dual Axis |
| Key market players worldwide | Abengoa, ALLETE Inc, Array Technologies Inc Ordinary Shares, Gear Energy Ltd, ReNew Energy Global PLC Ordinary Shares - Class A, SunPower Corp, Titan International Inc |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 19.4% of the global solar tracker market in 2023.
- Globally, Latin America is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 2,645.0 million by 2030.
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Solar Tracker Market Scope
Solar Tracker Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific solar tracker market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to solar tracker market will help companies and investors design strategic landscapes.
Single axis was the largest segment with a revenue share of 51.26% in 2023. Horizon Databook has segmented the Asia Pacific solar tracker market based on single axis, dual axis covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific accounted for the 17.96% regional market in 2019 in terms of volume and is projected to grow at highest CAGR of 10.9% during the forecast period. The increasing demand for solar tracker in Asia Pacific can be attributed to the increasing installation of solar power projects in China, India.
These countries are the key markets for solar tracker both globally and in Asia Pacific. In addition, countries in the Asia Pacific region including Australia and Japan have high growth potential for solar tracker market.
These countries have been investing largely in the solar power generation from last few years. The developing economies of this region have been upgrading their energy infrastructure to meet rising demand for power and taking measures to control future energy consumption.
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Target buyers of Asia Pacific solar tracker market databook
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Our clientele includes a mix of solar tracker market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific solar tracker market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific solar tracker market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific solar tracker market size, by country, 2018-2030 (US$M)
Asia Pacific Solar Tracker Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
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