Arctech Achieves 131% YoY Growth, Leading Among Top 5 Solar Tracker Suppliers

Arctech, the world’s leading provider of solar tracking, racking, and BIPV solutions, stands out as the only company among the global Top 5 solar tracker suppliers to achieve an impressive annual growth rate of 131%, according to the 2024 Global Solar PV Tracker Market Share Report by Wood Mackenzie. Arctech holds the No. 1 market share in India, commanding an impressive 45%, significantly outpacing other suppliers. In the Middle East, Arctech has captured a substantial 21% market share with a portfolio exceeding 10GW. Additionally, Arctech has maintained its position as the top solar tracker supplier in the APAC region for years, securing a 36% market share in 2023, and extending its dominance to burgeoning Central Asian markets such as Uzbekistan. A key factor contributing to Arctech’s success is its signature solar tracking systems, known for their high adaptability across various topographies and economic environments. With a long-term strategic vision focused on entering high-potential markets early, Arctech has established a strong foundation for sustained future growth in the APAC market.

In 2023, Arctech implemented a tailored localization strategy, focusing on Middle Eastern and Southwestern European markets, while successfully penetrating the fast-growing Middle European and mature Southwest European regions. Notably, it achieved significant milestones by winning nearly 350MW of solar projects in Europe in 2023 alone.

Furthermore, with a proven track record of successfully executing large utility-scale projects such as the 365MW project in Mexico, and by offering region-specific solutions and robust localization strategies, Arctech ranks among the Top 5 solar tracker suppliers in Latin America.