Brazil Solar Tracker Market Size & Outlook, 2023-2030
Brazil solar tracker market, 2018-2030 (US$M)
Related Markets
Brazil solar tracker market highlights
- The Brazil solar tracker market generated a revenue of USD 472.8 million in 2023 and is expected to reach USD 1,873.4 million by 2030.
- The Brazil market is expected to grow at a CAGR of 21.7% from 2024 to 2030.
- In terms of segment, single axis was the largest revenue generating product in 2023.
- Single Axis is the most lucrative product segment registering the fastest growth during the forecast period.
Solar tracker market data book summary
| Market revenue in 2023 | USD 472.8 million |
| Market revenue in 2030 | USD 1,873.4 million |
| Growth rate | 21.7% (CAGR from 2023 to 2030) |
| Largest segment | Single axis |
| Fastest growing segment | Single Axis |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Brazil accounted for 8.2% of the global solar tracker market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil solar tracker market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 1,873.4 million by 2030.
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Solar Tracker Market Scope
Solar Tracker Market Companies
| Name | Profile | # Employees | HQ | Website |
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Brazil 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 56.26% in 2023. Horizon Databook has segmented the Brazil solar tracker market based on single axis, dual axis covering the revenue growth of each sub-segment from 2018 to 2030.
Brazil is the largest South American economy and is a part of BRICS. Brazil is facing major power crisis owing to which the government is taking various initiatives to tap the solar energy market in the country.
As Brazil has an advantage of high solar radiation index which proves that solar resources possess a potential that can be utilized, owing to which solar industry is expected to grow in coming years. Although conditions for solar PV are favorable, the growth of the market is restricted owing to the high cost and a lack of indigenous production.
In 2019 Brazil had around 2,485 MW of total installed solar PV. Owing to the high potential in the Brazilian market companies are investing heavily in the solar power projects, for example, Atlas Renewable Energy has completed the long-term financing of USD 152 million for its three solar energy plants in Brazil.
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil solar tracker market , including forecasts for subscribers. This country databook contains high-level insights into Brazil solar tracker market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil solar tracker market size, by product, 2018-2030 (US$M)
Brazil Solar Tracker Market Outlook Share, 2023 & 2030 (US$M)
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