Market Size of North America Solar Tracker Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 20.24 Billion |
| Market Size (2029) | USD 54.93 Billion |
| CAGR (2024 - 2029) | 21.93 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Solar Tracker Market Analysis
The North America Solar Tracker Market size is estimated at USD 20.24 billion in 2024, and is expected to reach USD 54.93 billion by 2029, growing at a CAGR of 21.93% during the forecast period (2024-2029).
- Over the medium term, the solar tracker market in the North American region is expected to thrive due to the government's initiatives to expand the renewable energy share in the power generation portfolio and increase the adoption of solar energy.
- On the other hand, the intense competition from natural gas and other renewable energy sources is expected to hinder market growth in the near future.
- Nevertheless, as solar trackers increase the solar power generating capacity of solar panels, thus technological advancements in solar trackers are expected to create ample opportunities for the market.
- The United States is expected to dominate the market due to government initiatives to expand its solar energy portfolio.
