India Solar Tracker Market Size & Outlook, 2023-2030
India solar tracker market, 2018-2030 (US$M)
Related Markets
India solar tracker market highlights
- The India solar tracker market generated a revenue of USD 422.8 million in 2023 and is expected to reach USD 1,599.0 million by 2030.
- The India market is expected to grow at a CAGR of 20.9% 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.
Solar tracker market data book summary
| Market revenue in 2023 | USD 422.8 million |
| Market revenue in 2030 | USD 1,599.0 million |
| Growth rate | 20.9% (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, India accounted for 7.4% 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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India 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 50.14% in 2023. Horizon Databook has segmented the India solar tracker market based on single axis, dual axis covering the revenue growth of each sub-segment from 2018 to 2030.
India is recognized as one of the fastest-growing economies in Asia Pacific and in the world. Increasing foreign direct investments in the country and a rise in the number of foreign companies entering the Indian market are expected to boost the growth of the solar tracker market.
India is considered as one of the emerging solar tracker markets in the world, on account of the growing government support with various schemes, to promote power generation through renewable sources such as power.
Also, in the past few years, the government has made it compulsory for the carbon emitting companies to invest in renewable energy. Since solar has the largest scope as compared to the rest of unconventional sources of energy, investment in solar power generation is preferred the most.
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Target buyers of India 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 India solar tracker market , including forecasts for subscribers. This country databook contains high-level insights into India solar tracker market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India solar tracker market size, by product, 2018-2030 (US$M)
India Solar Tracker Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
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