North America Solar Tracker Market Size & Outlook
North America solar tracker market, 2018-2030 (US$M)
Related Markets
North America solar tracker market highlights
- The North America solar tracker market generated a revenue of USD 1,554.0 million in 2023.
- The market is expected to grow at a CAGR of 13% 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, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 1,554.0 million |
| Market revenue in 2030 | USD 3,652.7 million |
| Growth rate | 13% (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, North America region accounted for 27.0% 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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North America 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 50.9% in 2023. Horizon Databook has segmented the North America solar tracker market based on single axis, dual axis covering the revenue growth of each sub-segment from 2018 to 2030.
Countries covered under North America include the U.S., Canada, and Mexico. North American region accounted for the largest market share in terms of volume and revenue and is expected to witness significant growth in the solar tracker market over the forecast period, considering growing demand from the U.S. Canada, and Mexico.
However, high initial investment and low cost of conventional sources of energy is likely to restrain the solar tracker market in North America. Major players operating in the North American solar tracker business include All Earth Renewables, NEXTracker Inc., SunPower Corporation, First Solar, and others.
These players are well-established and primarily concentrated in the U.S. North America. The market in this region is expected to witness growth owing to rising initiatives in research and development coupled with stringent regulations with regard to environmental emissions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America solar tracker market , including forecasts for subscribers. This continent databook contains high-level insights into North America solar tracker market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America solar tracker market size, by country, 2018-2030 (US$M)
North America Solar Tracker Market Outlook Share, 2023 & 2030 (US$M)
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