Saudi Arabia Solar Photovoltaics
market is expected to grow at a steady rate during the forecast period.
High-end investments by the leading authorities to invest in the research and
development activities for the up-gradation of the existing technological
infrastructure of solar photovoltaics is expected to fuel the market growth in
the next five years. The increase in the initiatives taken by the leading
authorities for the adoption of renewable sources of energy and the rise in
concerns regarding the adverse effect of the greenhouse gas emission into the
environment is the contributing factor influencing the solar photovoltaics
market growth. Reduction in the cost of solar technology has led to making
solar energy more accessible and affordable. The rise in the population is
increasing the demand for more energy generation which in turn is accelerating
the growth of the solar photovoltaics market. The presence of high-capacity
solar plants in Saudi Arabia and the rise in the adoption of solar energy in residential,
commercial, and industrial sectors are expected to foster the solar
photovoltaics market growth. Under the Saudi Vision 2030, the leading
authorities are launching new schemes and making huge investments for the
development of clean and sustainable energy infrastructure which is expected to
fuel the solar photovoltaics market growth in the forecast period. The oil
industry is the major revenue-generating source in Saudi Arabia and to reduce
the dependency on the oil industry and generate new income sources and
diversify the existing sources is expected to pave the way for the solar
photovoltaics market growth.
The Saudi Arabia Solar
Photovoltaics market is segmented into type, installation mode, grid type,
application, regional distribution, and company. Based on the type, the market
can be divided into thin film, multi-Si, mono-Si. The mono-Si segment is
expected to witness growth in the forecast period, 2023-2027. These are
suitable for large-scale installations in rooftops and can be used for industrial,
commercial, and residential purposes. Mono-Si is compact, durable, and highly
efficient which is further contributing to surging the demand for this segment.
The major players operating on the
Solar Photovoltaics market are Desert Technologies, EGPHIL
Solar Solutions, Hanwha Q Cells Co. Ltd, National Solar Systems Company, First
Solar International Middle East FZ-LLC, SunPower Corporation, Gulf Batteries Co
Ltd, SNC Lavalin Kentz SAUDI ARABIA, Sharp Middle East FZE, Vista Eco Solar Solutions
LLC, and others. Major companies are developing advanced technologies and
launching new services to stay competitive in the market. Other competitive
strategies include mergers & acquisitions and new service developments.
Objective of the Study:
- To analyze and estimate the market size of Saudi
Arabia Solar Photovoltaics market from 2017 to 2020.
- To estimate and forecast the market size of Saudi
Arabia Solar Photovoltaics market from 2021 to 2027 and growth rate until 2027.
- To classify and forecast Saudi Arabia Solar
Photovoltaics market based on type, installation mode, grid type, application,
regional distribution, and company.
- To identify dominant region or segment in the Saudi
Arabia Solar Photovoltaics market.
- To identify drivers and challenges for Saudi
Arabia Solar Photovoltaics market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in Saudi
Arabia Solar Photovoltaics market.
- To identify and analyze the profile of leading
players operating in Saudi Arabia Solar Photovoltaics market.
- To identify key sustainable strategies adopted
by market players in Saudi Arabia Solar Photovoltaics 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 globe. 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 globe.
TechSci Research calculated the market size of Saudi Arabia Solar Photovoltaics market 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:
- Solar Photovoltaics manufacturing
- Market research and
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums, and
alliances related to Solar Photovoltaics market
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
2017 – 2020
2023 – 2027
Revenue in USD Million and CAGR for 2017-2021 and 2022E-2027F
Revenue forecast, company share, competitive landscape, growth
factors, and trends
Western Region, Northern and Central Region, Eastern Region,
Key companies profiled
Desert Technologies, EGPHIL Solar Solutions, Hanwha Q Cells
Co. Ltd, National Solar Systems Company, First Solar International Middle
East FZ-LLC, SunPower Corporation, Gulf Batteries Co Ltd, SNC Lavalin Kentz
SAUDI ARABIA, Sharp Middle East FZE, Vista Eco Solar Solutions LLC.
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
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In this report, Saudi Arabia Solar
Photovoltaics market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
- Saudi Arabia Solar Photovoltaics Market, By Type:
- Thin film
- Saudi Arabia Solar Photovoltaics Market, By Installation
- Saudi Arabia Solar Photovoltaics Market, By Grid
- Saudi Arabia Solar Photovoltaics Market, By
- Saudi Arabia Solar Photovoltaics Market, By Region:
- Western Region
- Northern & Central Region
- Eastern Region
- Southern Region
Company Profiles: Detailed analysis of the major
companies present in Saudi Arabia Solar Photovoltaics market.
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:
- Detailed analysis and
profiling of additional market players (up to five).
Saudi Arabia Solar Photovoltaics market
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