Canada Solar Tracker Market Size & Outlook, 2023-2030
Canada solar tracker market, 2018-2030 (US$M)
Related Markets
Canada solar tracker market highlights
- The Canada solar tracker market generated a revenue of USD 65.0 million in 2023 and is expected to reach USD 224.7 million by 2030.
- The Canada market is expected to grow at a CAGR of 19.4% 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.
Solar tracker market data book summary
| Market revenue in 2023 | USD 65.0 million |
| Market revenue in 2030 | USD 224.7 million |
| Growth rate | 19.4% (CAGR from 2023 to 2030) |
| Largest segment | Single axis |
| Fastest growing segment | Dual 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, Canada accounted for 1.1% 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 North America, U.S. solar tracker market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 224.7 million by 2030.
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Solar Tracker Market Scope
Solar Tracker Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada 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 50.62% in 2023. Horizon Databook has segmented the Canada solar tracker market based on single axis, dual axis covering the revenue growth of each sub-segment from 2018 to 2030.
Solar energy has relatively small share but is considered as one of the rapidly growing sources of electricity in Canada. In 2019, cumulative installed capacity of solar PV was approximately 3,310 MW as per The International Renewable Energy Agency.
Most provincial and territorial governments in Canada have established policies aimed at simplifying the regulatory framework for customers that want to invest in their own renewable energy micro-generation as a part of their overall energy conservation measures and to reduce their electricity bills which is expected to boost the solar tracker market in this country.
Solar tracker market in Canada is primarily driven by support received from government in the form of subsidiaries and facilities. These factors are expected to drive the solar tracker market in Canada. Some of the major solar tracker manufacturers operating in Canada includes Sun-link Solar Tracker and NEXTracker.
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Our clientele includes a mix of solar tracker market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada solar tracker market , including forecasts for subscribers. This country databook contains high-level insights into Canada solar tracker market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada solar tracker market size, by product, 2018-2030 (US$M)
Canada Solar Tracker Market Outlook Share, 2023 & 2030 (US$M)
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