Latin America Solar Tracker Market Size & Outlook
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Latin America solar tracker market highlights
- The Latin America solar tracker market generated a revenue of USD 1,379.9 million in 2023.
- The market is expected to grow at a CAGR of 18.3% from 2024 to 2030.
- In terms of segment, single axis was the largest revenue generating product in 2023.
- Single Axis is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,379.9 million |
| Market revenue in 2030 | USD 4,470.6 million |
| Growth rate | 18.3% (CAGR from 2023 to 2030) |
| Largest segment | Single axis |
| Fastest growing segment | Single Axis |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Single Axis, Dual Axis |
| Key market players worldwide | Abengoa, ALLETE Inc, Array Technologies Inc Ordinary Shares, Gear Energy Ltd, ReNew Energy Global PLC Ordinary Shares - Class A, SunPower Corp, Titan International Inc |
Other key industry trends
- In terms of revenue, Latin America region accounted for 24.0% of the global solar tracker market in 2023.
- Globally, Latin America is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 2,645.0 million by 2030.
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Solar Tracker Market Scope
Solar Tracker Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| ReNew Energy Global PLC Ordinary Shares - Class A | View profile | 2481 | C/o Vistra (UK) Ltd., 4th Floor 11-12 St. James’ Square, London, United Kingdom, SW1Y 4LB | https://www.renewpower.in |
| Gear Energy Ltd | View profile | 30 | 205 - 5th Avenue S.W., Suite 800, Bow Valley Square II, Calgary, AB, Canada, T2P 2V7 | https://www.gearenergy.com |
| Array Technologies Inc Ordinary Shares | View profile | 975 | 3901 Midway Place NE, Albuquerque, NM, United States, 87109 | https://www.arraytechinc.com |
| ALLETE Inc | View profile | 1583 | 30 West Superior Street, Duluth, MN, United States, 55802-2093 | https://www.allete.com |
| SunPower Corp | View profile | 4710 | 51 Rio Robles, San Jose, CA, United States, 95134 | https://www.sunpower.com |
| Abengoa | View profile | 10001+ | Seville, Andalucia, Spain, Europe | https://www.abengoa.com |
| Titan International Inc | View profile | 6900 | 1525 Kautz Road, Suite 600, West Chicago, IL, United States, 60185 | https://www.titan-intl.com |
Latin America solar tracker market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to solar tracker market will help companies and investors design strategic landscapes.
Single axis was the largest segment with a revenue share of 53.3% in 2023. Horizon Databook has segmented the Latin America solar tracker market based on single axis, dual axis covering the revenue growth of each sub-segment from 2018 to 2030.
Central & South America is projected to be the second fastest growing regional market over the forecast period. The region is expected to witness significant growth over the next ten years on account of high solar potential in the region, particularly in Brazil, and Chile.
Among these, Chile held the largest market share in 2019, owing to large investments being made by both domestic and foreign parties. The country also witnessed significant growth considering investments being made by U.S. solar companies, due to the country’s favorable climatic conditions.
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Our clientele includes a mix of solar tracker market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America solar tracker market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America solar tracker market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Latin America solar tracker market size, by country, 2018-2030 (US$M)
Latin America Solar Tracker Market Outlook Share, 2023 & 2030 (US$M)
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