Europe Solar Tracker Market Size

Statistics for the 2023 & 2024 Europe Solar Tracker market size, created by Mordor Intelligence™ Industry Reports. Europe Solar Tracker size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Europe Solar Tracker Industry

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Europe Solar Tracker Market Summary
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

Europe Solar Tracker Market Major Players

*Disclaimer: Major Players sorted in no particular order

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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.

Europe Solar Tracker Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)