New York , March 18, 2024 (GLOBE NEWSWIRE) — The global single axis solar PV tracker market size is projected to grow at a CAGR of over 19% from 2024 to 2036. The market is expected to garner a revenue of USD 90 billion by the end of 2036, up from a revenue of USD 18 billion in the year 2023. This growth of the market is poised to be dominated by growing demand for solar energy. For instance, the generation of power from solar PV rose by a record of over 269 TWh in the year 2022 which is the highest as compared to power generated in 2021 from solar PV. Hence, the demand for solar PV tracker market is estimated to rise over the coming years.

(GlobeNewsWire)