Saudi Arabia PV Cells Market By Type (Organic & Inorganic), By Product Type (Thin Film, Monocrystalline & Poly-crystalline), By End Use (Residential, Commercial & Utility Scale), Competition, Forecast & Opportunities, 2024

Saudi Arabia PV cells market is expected to grow at a CAGR of around 12% during the forecast period. The growing shift towards the use of renewable forms of energy and supportive government policies are the key factors driving the Saudi Arabia PV cells market.

Furthermore, improved performance efficiency and reduced manufacturing costs of the PV cells is further expected to propel the market during the next five years.

The Saudi Arabia PV cells market is segmented based on type, product type, end use, region and company. Based on type, the market can be bifurcated into organic and inorganic. The organic solar cells are expected to dominate the market since they are available at low costs and are more efficient than the inorganic counterparts. Based on product type, the market can be fragmented into thin film, monocrystalline and poly crystalline. The thin film solar cells dominate the market owing to their growing use for commercial and residential applications. Additionally, these cells produce low-cost electricity by absorbing sunlight at nearly the ideal wavelength. Furthermore, flexibility and transparency associated with these cells are further expected to drive their demand during the forecast period. Based on end use, the market can be categorized into residential, commercial and utility scale. The residential segment holds significant market share on account of rising population in line with positive consumer outlook towards deployment of solar technology. Additionally, growing lifestyle coupled with rising awareness about climate change across consumers positively drives the market.

The major players operating in the PV cells market are Canadian Solar Middle East Limited, Desert Technologies,  First Solar International Middle East FZ-LLC, Green Technology Company (GTek Solar), Hanwha Q CELLS Co., Ltd., Jinko Solar, Solar Frontier K.K, SunPower, Trina Solar Middle East Ltd, Yingli Green Energy Holding Co., Ltd. and others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.

Years considered for this report:

Historical Years: 2014-2017

Base Year: 2018

Estimated Year: 2019

Forecast Period: 2020–2024

Objective of the Study:

• To analyze and forecast the market size of Saudi Arabia PV cells market.
• To classify and forecast Saudi Arabia PV cells market based on type, product type, end use, and company and regional distribution.
• To identify drivers and challenges for Saudi Arabia PV cells market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia PV cells market.
• To conduct pricing analysis for Saudi Arabia PV cells market.
• To identify and analyze the profile of leading players operating in Saudi Arabia PV cells market.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.

TechSci Research calculated the market size of Saudi Arabia PV cells market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• PV cells manufacturers and suppliers
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to PV cells

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, Saudi Arabia PV cells market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Market, By Type:
• Organic
• Inorganic
• Market, By Product Type:
• Thin Film
• Monocrystalline
• Poly-crystalline
• Market, By End Use:

o   Commercial

o   Residential

o   Utility Scale

• Market, By Regions:
• Western Region
• Eastern Region
• Central Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia PV cells market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).