Europe Solar Tracker Market
According to market analysis by Insider Market Research, the Europe Solar Tracker Market is projected 2.20 billion in 2024, and expected to reach USD 6.38 billion by 2029 with a CAGR of 21.98%. This comprehensive analysis reveals, how technological advancements and increasing investment in renewable energy boosting the solar tracker market in Europe.
Segment Insight: In the European solar tracker market, the dual-axis solar tracker category is anticipated to grow at the fastest rate. Dual-axis trackers are being used by numerous large-scale solar farms in France, Spain, and Germany in order to increase energy yields and fulfill renewable energy goals. The adoption of more effective solar technologies is being aided by the European Union’s Renewable Energy Directive (RED II) and net-zero pledges. Efficiency per square meter is crucial because Europe has a limited amount of land available for solar farms. Dual-axis trackers are perfect for urban solar farms and spaces with limited space since they can produce more electricity from smaller land areas.
Regional Insights: Due to favourable government regulations and large expenditures in solar energy infrastructure, nations like France are predicted to experience the fastest growth rates. The investment in solar energy projects is encouraged by advantageous government policies, such as subsidies, incentives, and expedited approval procedures. The adoption is also accelerated by France’s significant investments in solar infrastructure, including as grid upgrades and massive solar farms. These elements foster an atmosphere that is conducive to the solar energy industry’s explosive expansion.
MENA Solar Tracker Market
Insider Market Research’s market analysis projects that the MENA Solar Tracker Market will grow at a compound annual growth rate (CAGR) of 20.8% to reach USD 3.89 billion by 2029. This thorough research shows how the rise in solar energy installations and government initiatives like carbon emission reductions encourage the usage of solar-powered products, which has a beneficial impact on the MENA solar tracker market.
Segment Insight: Due to its better energy collection efficiency, the dual-axis tracker segment is expected to develop at the fastest rate, but the single-axis solar tracker segment presently maintains the highest market share. Due to their affordability, reduced maintenance requirements, and adaptability to arid environments, single-axis trackers hold a dominant market share.
As MENA transitions to high-efficiency solar projects to optimize energy output, dual-axis trackers are expanding at the highest rate.
Regional Insight: The MENA Solar Tracker Market is anticipated to develop at the fastest rate in the United Arab Emirates (UAE) because of its aggressive renewable energy goals and significant solar power project investments. By 2050, the UAE wants to produce half of its energy from renewable sources, and solar energy is essential to that goal. In order to optimize energy output, large-scale projects like the Mohammed bin Rashid Al Maktoum Solar Park (5 GW capacity) and the Noor Abu Dhabi Solar Plant (1.2 GW) are increasing demand for high-efficiency solar trackers, especially single-axis and dual-axis systems. Government subsidies, falling solar technology prices, and smart alliances with international renewable energy companies are all contributing to the UAE market’s rapid expansion.
Key Players of Solar Tracker Market in Europe & MENA
- NEXTracker Inc. (Flex Ltd.)
- Array Technologies, Inc.
- Soltec Trackers
- Gonvarri Solar Steel
- Ideematec
- PVH (PV Hardware)
- Arctech Solar
- Schletter Group
- STI Norland
Types of Single-Axis Trackers
- Horizontal Single-Axis Tracker (HSAT)
- Vertical Single-Axis Tracker (VSAT)
- Tilted Single-Axis Tracker (TSAT)
- Polar-Aligned Single-Axis Tracker (PSAT)
Types of Dual-Axis Trackers
- Fully Independent Dual-Axis Tracker
- Polar-Aligned Dual-Axis Tracker
- Tip-Tilt Dual-Axis Tracker
Types of Agrivoltaic Trackers
- Dynamic Agrivoltaic Trackers
- Elevated Agrivoltaic Trackers
- Semi-Transparent Solar Panel Trackers
Europe Solar Tracker Market
According to market analysis by Insider Market Research, the Europe Solar Tracker Market is projected 2.20 billion in 2024, and expected to reach USD 6.38 billion by 2029 with a CAGR of 21.98%. This comprehensive analysis reveals, how technological advancements and increasing investment in renewable energy boosting the solar tracker market in Europe.
Segment Insight: In the European solar tracker market, the dual-axis solar tracker category is anticipated to grow at the fastest rate. Dual-axis trackers are being used by numerous large-scale solar farms in France, Spain, and Germany in order to increase energy yields and fulfill renewable energy goals. The adoption of more effective solar technologies is being aided by the European Union’s Renewable Energy Directive (RED II) and net-zero pledges. Efficiency per square meter is crucial because Europe has a limited amount of land available for solar farms. Dual-axis trackers are perfect for urban solar farms and spaces with limited space since they can produce more electricity from smaller land areas.
Regional Insights: Due to favourable government regulations and large expenditures in solar energy infrastructure, nations like France are predicted to experience the fastest growth rates. The investment in solar energy projects is encouraged by advantageous government policies, such as subsidies, incentives, and expedited approval procedures. The adoption is also accelerated by France’s significant investments in solar infrastructure, including as grid upgrades and massive solar farms. These elements foster an atmosphere that is conducive to the solar energy industry’s explosive expansion.
MENA Solar Tracker Market
Insider Market Research’s market analysis projects that the MENA Solar Tracker Market will grow at a compound annual growth rate (CAGR) of 20.8% to reach USD 3.89 billion by 2029. This thorough research shows how the rise in solar energy installations and government initiatives like carbon emission reductions encourage the usage of solar-powered products, which has a beneficial impact on the MENA solar tracker market.
Segment Insight: Due to its better energy collection efficiency, the dual-axis tracker segment is expected to develop at the fastest rate, but the single-axis solar tracker segment presently maintains the highest market share. Due to their affordability, reduced maintenance requirements, and adaptability to arid environments, single-axis trackers hold a dominant market share.
As MENA transitions to high-efficiency solar projects to optimize energy output, dual-axis trackers are expanding at the highest rate.
Regional Insight: The MENA Solar Tracker Market is anticipated to develop at the fastest rate in the United Arab Emirates (UAE) because of its aggressive renewable energy goals and significant solar power project investments. By 2050, the UAE wants to produce half of its energy from renewable sources, and solar energy is essential to that goal. In order to optimize energy output, large-scale projects like the Mohammed bin Rashid Al Maktoum Solar Park (5 GW capacity) and the Noor Abu Dhabi Solar Plant (1.2 GW) are increasing demand for high-efficiency solar trackers, especially single-axis and dual-axis systems. Government subsidies, falling solar technology prices, and smart alliances with international renewable energy companies are all contributing to the UAE market’s rapid expansion.
Key Players of Solar Tracker Market in Europe & MENA
- NEXTracker Inc. (Flex Ltd.)
- Array Technologies, Inc.
- Soltec Trackers
- Gonvarri Solar Steel
- Ideematec
- PVH (PV Hardware)
- Arctech Solar
- Schletter Group
- STI Norland
Types of Single-Axis Trackers
- Horizontal Single-Axis Tracker (HSAT)
- Vertical Single-Axis Tracker (VSAT)
- Tilted Single-Axis Tracker (TSAT)
- Polar-Aligned Single-Axis Tracker (PSAT)
Types of Dual-Axis Trackers
- Fully Independent Dual-Axis Tracker
- Polar-Aligned Dual-Axis Tracker
- Tip-Tilt Dual-Axis Tracker
Types of Agrivoltaic Trackers
- Dynamic Agrivoltaic Trackers
- Elevated Agrivoltaic Trackers
- Semi-Transparent Solar Panel Trackers
