Mexico Solar Tracker Market Size & Outlook, 2023-2030
Mexico solar tracker market, 2018-2030 (US$M)
Related Markets
Mexico solar tracker market highlights
- The Mexico solar tracker market generated a revenue of USD 37.5 million in 2023 and is expected to reach USD 125.7 million by 2030.
- The Mexico market is expected to grow at a CAGR of 18.8% 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 37.5 million |
| Market revenue in 2030 | USD 125.7 million |
| Growth rate | 18.8% (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, Mexico accounted for 0.7% 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 North America, U.S. solar tracker market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 224.7 million by 2030.
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Solar Tracker Market Scope
Solar Tracker Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico 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 50.4% in 2023. Horizon Databook has segmented the Mexico solar tracker market based on single axis, dual axis covering the revenue growth of each sub-segment from 2018 to 2030.
Mexico, in terms of volume accounted for markets share for 0.93% in solar tracker market in North America region and is projected to grow at a CAGR of 4.2% over the forecast period. Mexico with one of developing economies in with more than 40 million electricity customers, provides significant opportunity for the growth of untapped renewable energy sector.
According to provisional numbers released by Mexican solar energy association (Asolmex), Mexico has reached operational installed PV capacity of around 4 GW in in 2019. Owing to the energy reform, investment in Mexico’s solar energy sector is expected to grow sharply in coming years.
Soltec one of the leading players in solar tracker market is suppling single axis tracker for various projects including AGUASCALIENTES (67 MW), and GUANAJUATO (260 MW) in Mexico.
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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 Mexico solar tracker market , including forecasts for subscribers. This country databook contains high-level insights into Mexico solar tracker market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico solar tracker market size, by product, 2018-2030 (US$M)
Mexico Solar Tracker Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
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