Middle East & Africa Solar Tracker Market Size & Outlook
Middle East & Africa solar tracker market, 2018-2030 (US$M)
Related Markets
MEA solar tracker market highlights
- The MEA solar tracker market generated a revenue of USD 638.3 million in 2023.
- The market is expected to grow at a CAGR of 22.5% 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.
- Country-wise, UAE is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 638.3 million |
| Market revenue in 2030 | USD 2,645.0 million |
| Growth rate | 22.5% (CAGR from 2023 to 2030) |
| Largest segment | Single 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, MEA region accounted for 11.1% 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.
Key Regions: UAE , U.S. , Japan , Brazil , Saudi Arabia
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Solar Tracker Market Scope
Solar Tracker Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa 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 51.75% in 2023. Horizon Databook has segmented the Middle East & Africa solar tracker market based on single axis, dual axis covering the revenue growth of each sub-segment from 2018 to 2030.
Countries covered under Middle East & Africa region includes Saudi Arabia, UAE. The solar tracker market in Middle East & Africa region is projected to grow at highest CAGR of 20.6% during the forecast period.
Saudi Arabia, and U.A.E., have made huge investments for the installation of solar power stations in their countries with an aim to minimize cost in the long run, and to make use of the abundant solar energy exposure throughout the year.
Moreover, the Middle East is also investing in solar power projects and in the solar tracker business with the key aim of becoming a self-sufficient region for power generation over the forecast period.
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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 continent-level data and insights on the Middle East & Africa solar tracker market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa solar tracker market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA solar tracker market size, by country, 2018-2030 (US$M)
Middle East & Africa Solar Tracker Market Outlook Share, 2023 & 2030 (US$M)
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