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North America Single Axis Solar Tracker Market Size

Report ID: GMI8836
Published Date: Apr 2024
Report Format: PDF

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North America Single Axis Solar Tracker Market

North America Single Axis Solar Tracker Market was valued at USD 3.70 billion in 2023 and is anticipated to grow at a CAGR of over 4.6% from 2024 to 2032.

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Gradual shift from traditional sources to sustainable energy sources along with national renewable integration targets aimed at ensuring environmental sustainability will drive the industry statistics. Supportive government policies promoting the extensive utilization of solar power in line with widespread adoption of sustainable and clean energy sources will propel the overall business dynamics. For instance, in August 2022, government of the U.S. passed an addition of the ITC, increasing it to 30% for the installation from 2022 to 2032.

North America Single Axis Solar Tracker Market Report Attributes
Report Attribute	Details
Base Year:	2023
North America Single Axis Solar Tracker Market Size in 2023:	USD 3.70 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.6%
2032 Value Projection:	USD 5.54 Billion
Historical Data for:	2019 to 2023
No. of Pages:	100
Tables, Charts & Figures:	250
Segments covered:	Product, Application and Country
Growth Drivers:	Growing demand across utility sector Rising emphasis on sustainable energy Technological advancements
Pitfalls & Challenges:	High maintenance cost

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Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of North America single axis solar tracker was reached USD 3.7 billion in 2023 and is anticipated to grow at 4.6% CAGR till 2032, owing to the supportive government policies promoting the extensive utilization of solar power in line with widespread adoption of sustainable and clean energy sources.

North America horizontal single axis solar tracker market is predicted to surpass USD 5 billion by 2032, driven by the technological advancements that enhance the reliability and effectiveness along with decrease in levelized cost of electricity.

U.S. single axis solar tracker market is projected to grow at USD 5 billion by 2032, attributed to the strong emphasis on environmental sustainability coupled with growing demand in regions with abundant solar resources.

Abengoa, Arctech Solar, Array Technologies, Inc., Ideematec, MECASOLAR, Nextracker Inc., SOLTEC, SunPower Corporation, Trina Solar and Valmont Industries, Inc.