Europe Solar Tracker Market Size & Outlook, 2023-2030
Europe solar tracker market, 2018-2030 (US$M)
Related Markets
Europe solar tracker market highlights
- The Europe solar tracker market generated a revenue of USD 1,059.5 million in 2023.
- The market is expected to grow at a CAGR of 18.9% 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.
- Country-wise, France is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 1,059.5 million |
| Market revenue in 2030 | USD 3,563.6 million |
| Growth rate | 18.9% (CAGR from 2023 to 2030) |
| Largest segment | Dual 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, Europe region accounted for 18.4% 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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Europe 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 63.01% in 2023. Horizon Databook has segmented the Europe solar tracker market based on single axis, dual axis covering the revenue growth of each sub-segment from 2018 to 2030.
Countries considered under Europe includes Italy, Spain, France, Germany. Notable solar tracker companies present in the region include Soitec, Optimum Tracker, Mechatron S.A., Mecasolar España SL, Energie Ercam, Titan Tracker SL, GrupoClavijo Elt SL.
There is an increasing use of trackers in the European region in many countries such as Spain, Italy as their strategic geographic location exposes them to the maximum amount of sunlight in the whole of Europe, throughout the year.
The market in Europe is expected to witness substantial growth over the forecast period, owing to the recent increase in the feed-in tariff (FIT) rates especially in Germany. The presence of other government subsidies in the region is likely to have a positive impact on the European market over the next ten years.
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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 continent-level data and insights on the Europe solar tracker market , including forecasts for subscribers. This continent databook contains high-level insights into Europe solar tracker market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe solar tracker market size, by country, 2018-2030 (US$M)
Europe Solar Tracker Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
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