Home > Energy & Power > Electrical Equipment > Solar Parts and Components > Europe Dual Axis Solar Tracker Market

Europe Dual Axis Solar Tracker Market Size

Report ID: GMI8816
Published Date: Apr 2024
Report Format: PDF

Download Free Sample

Europe Dual Axis Solar Tracker Market

Europe Dual Axis Solar Tracker Market was valued at USD 1.17 billion in 2023 and is anticipated to grow at a CAGR of 9.5% from 2024 to 2032. A dual-axis solar tracker is a mechanism employed in solar energy setups to align solar panels or mirrors along two axes for optimal sunlight absorption. This type of tracker adjusts both horizontally and vertically to continuously face the sun's position throughout the day, optimizing energy capture. By tracking the sun's movement on both axes, the solar trackers can significantly increase the energy output of solar photovoltaic (PV) or concentrated solar power (CSP) systems compared to fixed-tilt or single-axis tracking systems.

To get key market trends

Download Free Sample

Growing requirement for energy resilience and grid stability in line with gaining traction of community solar and shared solar projects will sway the business trends. Moreover, technological improvements are driving market growth by increasing the attractiveness of dual-axis solar trackers for utility-scale projects.

Europe Dual Axis Solar Tracker Market Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Dual Axis Solar Tracker Market Size in 2023:	USD 1.17 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	9.5%
2032 Value Projection:	USD 2.69 Billion
Historical Data for:	2019 to 2023
No. of Pages:	100
Tables, Charts & Figures:	150
Segments covered:	Application and Country
Growth Drivers:	Rigorous clean energy targets Rising demand for off-grid electricity Growing focus for utility scale projects
Pitfalls & Challenges:	High capital cost

Learn more about the key segments shaping this market

Download Free Sample

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of Europe dual axis solar tracker was reached USD 1.17 billion in 2023 and is anticipated to expand at 9.5% CAGR till 2032, due to the growing requirement for energy resilience and grid stability in line with gaining traction of community solar and shared solar projects.

Europe dual axis solar tracker market from the utility application segment is projected to grow at over USD 2 billion by 2032, on the account of increasing large scale installations combined with their capability to optimize energy capture throughout the day.

Germany dual axis solar tracker industry is projected to exceed USD 2.5 billion by 2032, led by growing emphasis transiting to a low-carbon energy system along with increasing focus on expanding renewable energy capacity.

Leading dual axis solar tracker firms in Europe are Array Technologies, Inc., DEGERENERGIE GMBH & CO. KG, PARU, Targay, Mechatron Solar and PV Hardware