Market Size of Europe Solar Tracker Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.20 Billion |
| Market Size (2029) | USD 6.22 Billion |
| CAGR (2024 - 2029) | 21.96 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Solar Tracker Market Analysis
The Europe Solar Tracker Market size is estimated at USD 2.20 billion in 2024, and is expected to reach USD 6.22 billion by 2029, growing at a CAGR of 21.96% during the forecast period (2024-2029).
- Over the long term, rising investments in renewable energy to reduce dependence on Russian energy imports and achieve environmental commitments are expected to drive the market during the forecast period.
- On the other hand, the high initial investment required to install a tracking system, design complexity, maintenance cost, and limited capacity of solar tracking systems is expected to restrain the usage of solar trackers.
- Nevertheless, the commercialization of the usage of artificial intelligence and the internet of things to track the sun's movement and maximize power output is expected to be a significant growth opportunity for the market during the forecast period.
