China Solar Tracker Market Size & Outlook, 2023-2030
China solar tracker market, 2018-2030 (US$M)
Related Markets
China solar tracker market highlights
- The China solar tracker market generated a revenue of USD 247.6 million in 2023 and is expected to reach USD 824.2 million by 2030.
- The China market is expected to grow at a CAGR of 18.7% from 2024 to 2030.
- In terms of segment, dual 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 247.6 million |
| Market revenue in 2030 | USD 824.2 million |
| Growth rate | 18.7% (CAGR from 2023 to 2030) |
| Largest segment | Dual 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, China accounted for 4.3% 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 Asia Pacific, India solar tracker market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,599.0 million by 2030.
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Solar Tracker Market Scope
Solar Tracker Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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.
Dual axis was the largest segment with a revenue share of 56.99% in 2023. Horizon Databook has segmented the China solar tracker market based on single axis, dual axis covering the revenue growth of each sub-segment from 2018 to 2030.
Despite the current slowdown in the Chinese economy, the region is still a lucrative market for investments as compared to Western economies. China accounted for the highest solar tracker demand in the Asia Pacific region on account of increasing number of large-scale solar projects installations in the country.
Over the past few years, China’s investment in solar power plants has been staggering on account of the country’s push towards reduction of carbon emissions to minimal level by the end of 2020. By end of 2019 China’s cumulative Solar PV installation was 205,072 MW as stated by International Renewable Energy Agency.
China can be termed the hub of global solar power generation market, as of today, and the market is expected to grow even more during the forecast period, on account of increasing investments in northwestern parts of the country, including Xinjiang, Gansu, Zhejiang, Inner Mongolia and Jiangsu.
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Target buyers of China 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 country-level data and insights on the China solar tracker market , including forecasts for subscribers. This country databook contains high-level insights into China solar tracker market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China solar tracker market size, by product, 2018-2030 (US$M)
China Solar Tracker Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
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