Spain Solar Tracker Market Size & Outlook, 2023-2030
Spain solar tracker market, 2018-2030 (US$M)
Related Markets
Spain solar tracker market highlights
- The Spain solar tracker market generated a revenue of USD 145.6 million in 2023 and is expected to reach USD 477.2 million by 2030.
- The Spain market is expected to grow at a CAGR of 18.5% 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 145.6 million |
| Market revenue in 2030 | USD 477.2 million |
| Growth rate | 18.5% (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, Spain accounted for 2.5% 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 Europe, Germany solar tracker market is projected to lead the regional market in terms of revenue in 2030.
- France is the fastest growing regional market in Europe and is projected to reach USD 591.8 million by 2030.
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Solar Tracker Market Scope
Solar Tracker Market Companies
| Name | Profile | # Employees | HQ | Website |
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Spain 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 51.44% in 2023. Horizon Databook has segmented the Spain solar tracker market based on single axis, dual axis covering the revenue growth of each sub-segment from 2018 to 2030.
Spain accounted for the high demand for solar energy in Europe region on account of increasing electricity demand in the country and rising demand for renewable energy. As stated by world energy council, according to the European Photovoltaic Industry Association (EPIA), Spain’s national target for solar capacity is 8,367 MW by 2020.
Over the past years, Spain was considered as the world leader in solar power generation with many governmental resolutions and programs supporting investment on the nonconventional source of energy, such as, FIT schemes.
Having removed the ‘sun tax’ and committed to switch entirely to solar and renewable electricity by 2050, Spain is set for a major solar surg. This trend is likely to continue over the forecast period. Spain being a country having high exposure to sun energy which is expected to have a positive impact on the solar tracker market.
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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 Spain solar tracker market , including forecasts for subscribers. This country databook contains high-level insights into Spain solar tracker market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Spain solar tracker market size, by product, 2018-2030 (US$M)
Spain Solar Tracker Market Outlook Share, 2023 & 2030 (US$M)
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