Chile Solar Tracker Market Size & Outlook, 2023-2030
Chile solar tracker market, 2018-2030 (US$M)
Related Markets
Chile solar tracker market highlights
- The Chile solar tracker market generated a revenue of USD 352.0 million in 2023 and is expected to reach USD 1,302.7 million by 2030.
- The Chile market is expected to grow at a CAGR of 20.6% 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 352.0 million |
| Market revenue in 2030 | USD 1,302.7 million |
| Growth rate | 20.6% (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, Chile accounted for 6.1% 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 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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Chile 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 51.51% in 2023. Horizon Databook has segmented the Chile solar tracker market based on single axis, dual axis covering the revenue growth of each sub-segment from 2018 to 2030.
Chile is considered one of the most attractive destinations for development of renewable energy projects, owing to its geographical location and as it has abundant renewable energy resources. Chile with an almost 365-day clear sky along with high solar radiation and low humidity, has huge potential for generating solar energy.
In 2019 Chile had 2.6 GW of total solar PV installed capacity. With a view to attract renewable energy investment Chilean government came up with various new regulatory initiatives. In 2013, government passed law known as Law 20/25 (Non-Conventional Renewable Energy Law).
The law promotes a diversification of energy sources and established the target for the country to generate 20 percent of its electricity from renewable sources by 2025. To foster market development, the Ministry of Energy has passed a promotion law that creates tax incentives for the use of solar collectors for water heating.
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Our clientele includes a mix of solar tracker market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the Chile solar tracker market , including forecasts for subscribers. This country databook contains high-level insights into Chile solar tracker market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Chile solar tracker market size, by product, 2018-2030 (US$M)
Chile Solar Tracker Market Outlook Share, 2023 & 2030 (US$M)
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