Europe, Australia, Middle East & Africa Solar Tracker Market Research Report: Information By Technology (Solar Photovoltaic (PV)s, Concentrated Solar Power (CSP) and Concentrated Photovoltaic (CPV)), By Type (Single Axis, Dual Axis), By Application (Utili

Europe, Australia, Middle East & Africa Solar Tracker Market Research Report: Information By Technology (Solar Photovoltaic (PV)s, Concentrated Solar Power (CSP) and Concentrated Photovoltaic (CPV)), By Type (Single Axis, Dual Axis), By Application (Utility Scale Solar Power Plants, Grid Tied Solar Power Plants, Renewable Energy Projects, Commercial & Industrial Power Plants), By Communication (Wired Communication, Wireless Communication, Hybrid Communication), By Power Rating (Tracking projects <5 MWp, Tracking projects 5 MWp–20 MWp, Tracking projects <20 MWp), By Drive Type (Active tracking, Passive tracking, Semi-Passive Tracking) and By Region Industry Forecast to 2032

The Solar Tracker Market in Europe, Australia, the Middle East, and Africa was evaluated at USD 16.9 million in 2022. The Solar Tracker Market is expected to increase from USD 61.3 million in 2023 to USD 113.2 million by 2032, with a compound yearly growth rate (CAGR) of 7.69% over the forecast period (2024-2032).

The solar tracker market is expanding rapidly as a result of increased emphasis on renewable energy sources in response to growing environmental concerns. Rising energy consumption and security in various countries as a result of urbanization and industrialization are driving the need for increased energy generation, which is favorably influencing the solar tracker market. Furthermore, the development of new and innovative technologies is helping to improve the performance and efficacy of solar trackers, resulting in tremendous potential opportunities for the solar tracker market. However, volatility in the prices of its raw materials may limit the solar tracker's market expansion.

Market Segment insights
The Solar Tracker Market in Europe, Australia, the Middle East, and Africa has been divided into three segments based on technology: solar photovoltaic (PV), concentrated solar power (CSP), and concentrated photovoltaic.
The Market is divided into two segments based on type: single axis and dual axis.
The market is divided into four applications: utility scale solar power plants, grid-tied solar power plants, renewable energy projects, and commercial and industrial power plants.
Based on communication, the Europe, Australia, Middle East, and Africa Solar Tracker Market is divided into three segments: wired communication, wireless communication, and hybrid communication.
The market is divided into three categories based on end use: tracking projects <5 MWp, 5 MWp-20 MWp, and <20 MWp.
The market is divided into three segments based on drive type: active tracking, passive tracking, and semi-passive tracking.

Regional insights
The solar tracker market is divided into three regions: Europe, Australia, and the Middle East and Africa. The Europe Solar Tracker Market has the largest market share and is predicted to account for a sizable revenue share over the forecast period. Europe has been at the forefront of renewable energy usage and environmental policies.
Governments such as the European Union, as well as several nations in the region, have set aggressive renewable energy targets, with the goal of sourcing at least 32% of final energy consumption from renewables by 2030. This overarching policy framework encourages member states to invest in solar energy, including technology such as solar trackers, to achieve these objectives.

Major Players
PVHardware, MECASOLAR, IDEEMATEC, Deger Energie Gmbh & Co. Kg, Soltec, Arctech, GameChange Solar, NEXTracker, ECOrel Power, Array Technologies, and others are among the key players in the Solar Tracker market.