UAE Solar Tracker Market Size & Outlook, 2023-2030
UAE solar tracker market, 2018-2030 (US$M)
Related Markets
UAE solar tracker market highlights
- The UAE solar tracker market generated a revenue of USD 132.2 million in 2023 and is expected to reach USD 656.6 million by 2030.
- The UAE market is expected to grow at a CAGR of 25.7% 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 132.2 million |
| Market revenue in 2030 | USD 656.6 million |
| Growth rate | 25.7% (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, UAE accounted for 2.3% 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 Middle East & Africa, Saudi Arabia solar tracker market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 656.6 million by 2030.
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Solar Tracker Market Scope
Solar Tracker Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
UAE 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 50.83% in 2023. Horizon Databook has segmented the UAE solar tracker market based on single axis, dual axis covering the revenue growth of each sub-segment from 2018 to 2030.
The United Arab Emirates (UAE) is a federation of seven states and is one of the most liberal countries among the gulf. UAE is considered among the world’s leading countries to develop efficient renewable energy solutions.
It has announced a plan to achieve 50% of clean energy by 2050. Solar power is given high importance in its plans and is expected to account for 25% of the generation mix once the USD 13.7 Billion. (5GW) solar park is fully commissioned in 2030. With growing solar industry in the country, solar tracker market is expected to grow in coming years.
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Target buyers of UAE 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 UAE solar tracker market , including forecasts for subscribers. This country databook contains high-level insights into UAE solar tracker market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UAE solar tracker market size, by product, 2018-2030 (US$M)
UAE Solar Tracker Market Outlook Share, 2023 & 2030 (US$M)
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