Market Size of Middle East and Africa Solar Tracker Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 18.36 % |
| Market Concentration | Medium |
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?
MEA Solar Tracker Market Analysis
The Middle East and African solar tracker market is expected to register a CAGR of 18.36% during the forecast period.
The COVID-19 pandemic did not have any major effect on the solar tracker market in the region. Presently, the market has reached pre-pandemic levels.
- Over the long term, the solar tracker market in the Middle East and African region is expected to have remarkable progress due to the availability of highly sun-drenched regions for solar projects, low labor costs, and availability of cheap and sunny desert land for utility-scale solar projects.
- On the other hand, the aggressive competition from other renewable energy sources, like hydrogen and wind, is expected to challenge the market's growth in the near future.
- Nevertheless, as solar trackers increase the solar power generating capacity of solar panels, they are recommended for utility-scale solar power projects. Thus, the growing focus of the region on utility-scale solar projects results in ample opportunities for the market.
- The market in Saudi Arabia is expected to grow at a faster rate due to the government's efforts to expand the solar power share and the interest from private investors.
