Europe, Australia, Middle East & Africa Solar Tracker Market Overview
Europe, Australia, Middle East & Africa Solar Tracker Market Size was valued at USD 16.9 million in 2022. The Solar Tracker Market industry is projected to grow from USD 61.3 million in 2023 to USD 113.2 million by 2032, exhibiting a compound annual growth rate (CAGR) of 7.69% during the forecast period (2024 - 2032).
The solar tracker market is witnessing substantial growth owing to the increasing focus on adopting renewable energy sources due to rising environmental concerns. Growing energy demand and security in various regions due to rising urbanization and industrialization is escalating the need for higher energy generation and this factor is positively influencing the market of solar trackers. Further, the development of advanced and innovative technologies is contributing towards enhancing the performance and effectiveness of solar trackers and this is creating significant growth opportunities for solar tracker market. However, the fluctuations in the prices of its raw materials may hamper the market growth of the solar tracker.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Solar Tracker Market Trends
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Rising Environmental Concerns and Regulations
The focus towards renewable energy solutions is growing significantly, driven by increasing environmental concerns. Solar energy has emerged as one of the crucial components of renewable energy sector owing to its abundant availability and potential for sustainable power generation. Solar trackers are gaining huge popularity due to their ability in enhancing the efficiency of solar panels by orienting them towards sun, thereby ultimately helping in optimizing solar energy production and limiting the dependency on fossil fuels.
Rapid climate changes are posing challenges which are promoting the governments to prioritize the usage of clean energy sources including solar power. Further, the increasing problem of air pollution is promoting the transition towards solar energy and this factor is creating higher demand for solar trackers which is effective in maximizing the solar energy capture. Furthermore, governments in regions such as Europe have established renewable energy targets for reducing the reliability on fossil fuels. In September 2023, the European Parliament backed a new target of 42.5% of renewable energy sources by 2030.
The significant role of solar trackers in achieving these targets by enhancing the performance of the solar installations is contributing towards boosting its market demand. Also, these trackers enhance the economic viability of the solar projects by maximizing the electricity generation along with improving the project return on investment. Various regions in the world are emphasizing the shift towards renewable energy solutions. For instance, the share of renewable sources in EU energy consumption reached 23.0% in 2022, up from 21.8% in 2021.
The renewable energy sector in Europe is strongly driven by its climate goals and regulatory frameworks. Under the European Green Deal, the European Union aims at achieving climate neutrality by 2050, further implying a significant acceleration of emission reductions. Such initiatives play an important role in escalating the demand for products such as solar trackers. Further, The Renewable Energy Target (RET) is an Australian Government scheme that aims to reduce greenhouse gas emissions in the electricity sector and increase renewable electricity generation.
The RET sets a target to deliver an extra 33,000 gigawatt-hours (GWh) of electricity from renewable sources every year from 2020 to 2030. To achieve such targets, the usage of products such as solar trackers is increasing that plays a crucial role in improving the performance of renewable energy solutions. Solar trackers are highly used in arid regions of Australia for optimizing the performance of solar panels.
Solar Tracker Market Segment Insights:
Solar Tracker by Technology Insights
The Europe, Australia, Middle East & Africa Solar Tracker Market segmentation, based on Technology has been segmented into Solar Photovoltaic (PV), Concentrated Solar Power (CSP) and Concentrated Photovoltaic (CPV). In 2023, the Solar Photovoltaic (PV) segment drove the Europe, Australia, Middle East & Africa Solar Tracker Market by holding a substantial market share. Solar Photovoltaic (PV) solar trackers are designed to orient solar panels toward the sun for maximizing the energy capture.
These trackers enhance the efficiency of PV systems by following the sun’s path throughout the day. The primary advantage of PV trackers is their ability to increase the energy yield significantly as compared to fixed-tilt systems. Technological advancements have led to the development of reliable and cost-effective tracking systems, making them a viable option for large-scale solar installations. The rising demand for renewable energy and the increasing government initiatives for supporting renewable energy market are driving the adoption of PV solar trackers.
Solar Tracker By Type Insights
Based on Type, the Europe, Australia, Middle East & Africa Solar Tracker Market is segmented into Single Axis and Dual Axis. In 2023, the Single Axis segment drove the Europe, Australia, Middle East & Africa Solar Tracker Market by holding a substantial market share during the assessment period. It is projected to register a highest growth rate during the projected timeframe. Single-axis solar trackers rotate solar panels on a single axis, usually oriented north-south, to follow the sun’s path from east to west.
These trackers are simpler and less expensive than dual-axis trackers, making them a popular choice for large-scale solar installations. They are particularly effective in regions with high direct solar irradiation. While they offer lower efficiency gains compared to dual-axis systems, their cost-effectiveness and lower maintenance requirements make them a favourable option for many projects. Advances in tracking algorithms and materials are further enhancing the performance and reliability of single-axis trackers.
Solar Tracker By Application Insights
Based on Application, the Europe, Australia, Middle East & Africa Solar Tracker Market is segmented into Utility Scale Solar Power Plants, Grid Tied Solar Power Plants, Renewable Energy Projects, Commercial & Industrial Power Plants. In 2023, the Utility Scale Solar Power Plants segment drove the Europe, Australia, Middle East & Africa Solar Tracker Market by holding a substantial market share during the assessment period. It is projected to register a highest growth rate during the projected timeframe. Solar trackers are increasingly being used in utility-scale solar power plants for enhancing energy production.
Utility-scale projects benefit from the economies of scale that make the higher initial investment in trackers economically viable. These large installations typically use single-axis trackers due to their balance of increased energy yield and cost-effectiveness. Dual-axis trackers may be used in specific high-efficiency projects or in regions with variable sun angles. The use of trackers in utility-scale plants can significantly increase energy output and improve the return on investment. The growing demand for large-scale renewable energy projects and favourable policies are driving the adoption of solar trackers in utility-scale applications.
Solar Tracker By Communication Insights
Based on Communication, the Europe, Australia, Middle East & Africa Solar Tracker Market is segmented into Wired communication, Wireless communication, and Hybrid communication. In 2023, the Wired Communication segment drove the Europe, Australia, Middle East & Africa Solar Tracker Market by holding a substantial market share during the assessment period. It is projected to register a highest growth rate during the projected timeframe. Wired communication in solar trackers refers to the use of physical cables or wires to transmit data and control signals between various components of the solar tracking system. Wired communication tends to be more reliable than wireless alternatives because it is less susceptible to interference or signal loss. This reliability is crucial in solar trackers where precise and continuous communication is necessary for optimal performance.
Solar Tracker By Power Rating Insights
Based on End Use, the Europe, Australia, Middle East & Africa Solar Tracker Market is segmented into Tracking projects <5 MWp, Tracking projects 5 MWp–20 MWp, and Tracking projects <20 MWp. In 2023, the Tracking projects < 5 MWp segment drove the Europe, Australia, Middle East & Africa Solar Tracker Market by holding a substantial market share during the assessment period. It is projected to register a highest growth rate during the projected timeframe. Tracking projects with less than 5 MWp (megawatt-peak) capacity in solar trackers represent a segment of the solar industry that focuses on smaller-scale installations utilizing tracking technology to enhance energy production efficiency.
Solar trackers improve energy generation by orienting solar panels towards the sun throughout the day, maximizing exposure to sunlight. This can increase energy output by 20-25% compared to fixed-tilt systems, which is beneficial for smaller projects aiming to optimize their energy production. For projects below 5 MWp, land efficiency is crucial. Solar trackers can maximize energy yield per unit area by following the sun’s path, making them suitable for projects where space is limited but efficiency is paramount. Depending on the tracker technology chosen (single-axis or dual-axis), installation complexity and maintenance requirements may vary.
Solar Tracker By Drive Type Insights
Based on Drive Type, the Europe, Australia, Middle East & Africa Solar Tracker Market is segmented into Active Tracking, Passive Tracking, and Semi-Passive Tracking. In 2023, the Active Tracking segment drove the Europe, Australia, Middle East & Africa Solar Tracker Market by holding a substantial market share during the assessment period. It is projected to register a highest growth rate during the projected timeframe.
The words active and passive occur commonly in electrical engineering. Those devices which must be provided with source of energy for their full performance are classed as active. Those which do not need any external source of energy are called passive. Thus, active trackers must be provided with energy for their actuators to move. That energy may even be part of the energy harvested by the PV system they are driving. The actuator systems may consist of motors and other elaborate mechanical devices.
Solar Tracker Regional/Country Insights
Based on Region, the Solar Tracker Market is segmented into Europe, Australia and Middle East & Africa. The Europe Solar Tracker Market held the maximum market share and is also expected to account for the significant revenue share during the forecast period. Europe has been at the forefront of renewable energy adoption and sustainability initiatives. Governments and businesses are increasingly investing in solar energy to meet renewable energy targets, reduce carbon emissions, and enhance energy security.
Governmental bodies like the European Union, along with various countries in the region have set ambitious renewable energy targets, aiming for at least 32% of final energy consumption to come from renewable sources by 2030. This overarching policy framework encourages member states to invest in solar energy, including technologies like solar trackers, to meet these goals. Countries such as Germany (with its Energiewende policy) and Spain have implemented laws and regulations aimed at transitioning towards cleaner energy sources. These decisions and projects underscore Europe's leadership in renewable energy adoption and innovation.
Solar Tracker Key Market Players & Competitive Insights
The Europe, Australia, Middle East & Africa Solar Tracker Market is a dynamic and competitive industry encompassing various players offering a wide range of advanced and efficient Solar Tracker products to meet the growing demand across numerous applications. The Solar tracker market is characterized by the presence of many vendors. All the players in the market are competing to gain maximum market share. Intense competition, frequent changes in market dynamics, and market demand are key factors that impact market growth.
The vendors compete based on cost and product quality, and reliability. The vendors must provide cost-efficient and high-quality products to sustain their presence in the market. The rapid industrialization in the region is one of the major drivers that is accelerating the demand for solar trackers in the market. Furthermore, increasing use of solar trackers in automotive industry is further contributing to increasing the product demand substantially.
PVHardware: PVHardware specializes in providing innovative trackers, structures and SCADA solutions for utility-scale PV solar plants worldwide. The types of products offered by the company include solar trackers, fixed tilt structures, smart controllers, advanced SCADA software, and waterless PV cleaners. It has its own manufacturing capacity and has supplied and installed solar trackers and structures on solar plants in various markets worldwide, which has helped the company in earning the experience necessary for successfully managing solar tracker installations of any capacity, at any location. It has invested significantly in state-of-the-art metal manufacturing equipment for ensuring competitive price points. PVH is certified by the European Quality Assurance for the UNE-EN-ISO 9001:2015 and the UNE-EN-ISO 14001:2015 as the Quality Management System and the Environmental Management System.
MECASOLAR: MECASOLAR specializes in designing, execution and maintenance of fixed structures and single axis trackers. The company is committed to the strictest compliance with the legislation and regulations applicable to the company, products and services. It uses recycled materials in its production and focuses on creating products with a long useful life, collaborating with suppliers and customers for reducing the environmental impact of its processes and facilities and for the circular and sustainable economy. It also offers services such as supply, mounting, supervision and after sales services to its customers. With the help of its products, the company is serving clients in more than 15 countries worldwide.
Key Companies in the Solar Tracker Market includes.
- PVHardware
- MECASOLAR
- IDEEMATEC
- Deger Energie Gmbh & Co. Kg
- Soltec
- Arctech
- GameChange Solar
- NEXTracker
- ECOrel Power
- Array Technologies
- Others
Solar Tracker Market Segmentation:
Solar Tracker Technology Outlook
Solar Tracker Type Outlook
Solar Tracker Application Outlook
- Utility Scale Solar Power Plants
- Grid Tied Solar Power Plants
- Renewable Energy Projects
- Commercial & Industrial Power Plants
Solar Tracker Communication Outlook
- Wired Communication
- Wireless Communication
- Hybrid Communication
Solar Tracker Power Rating Outlook
- Tracking projects <5 MWp
- Tracking projects 5 MWp–20 MWp
- Tracking projects <20 MWp
Solar Tracker Drive Type Outlook
- Active Tracking
- Passive Tracking
- Semi-Passive Tracking
Solar Tracker Regional Outlook
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Europe
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Germany
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UK
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France
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Spain
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Italy
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Rest of Europe
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Australia
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Middle East & Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD 16.9 million |
| Market Size 2023 |
USD 61.3 million |
| Market Size 2032 |
USD 113.2 million |
| Compound Annual Growth Rate (CAGR) |
7.69% (2024-2032) |
| Base Year |
2023 |
| Forecast Period |
2024-2032 |
| Historical Data |
2018 to 2021 |
| Forecast Units |
Value (USD Million) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Technology, Type, Application, Communication, Power Rating, Drive Type and Region |
| Geographies Covered |
Europe, Australia, Middle East & Africa |
| Countries Covered |
Germany, UK, France, Spain, Italy, Australia, South Africa, GCC Countries |
| Key Companies Profiled |
PVHardware, MECASOLAR, IDEEMATEC, Deger Energie Gmbh & Co. Kg, Soltec, Arctech, GameChange Solar, NEXTracker, ECOrel Power, Array Technologies and Others |
| Key Market Opportunities |
Development of Advanced Technologies    |
| Key Market Dynamics |
Rising Environmental Concerns and Regulations Growing energy demand and security |
Frequently Asked Questions (FAQ) :
PVHardware, MECASOLAR, IDEEMATEC, Deger Energie Gmbh & Co. Kg, Soltec, Arctech, GameChange Solar, NEXTracker, ECOrel Power, Array Technologies and Others
Utility Scale Solar Power Plants
