Report Description

Saudi Arabia consumes a large amount of fossil fuels to meet its domestic energy requirements, with transportation and power sectors being the largest consumers of crude oil in the country. Over the couple of decades, consumption of crude oil in Saudi Arabia has increased significantly due to rising power demand on account of increasing urbanization and industrialization. However, considering future energy requirements and concerns associated with increasing domestic oil consumption, Government of Saudi Arabia has announced a Renewable Energy Program involving an overall investment of USD109 billion to generate electricity from renewable energy sources. Being located within the equatorial Sunbelt and receiving abundant solar radiation throughout the year, Saudi Arabia offers immense potential for solar power generation. 

According to “Saudi Arabia Solar Power Market Forecast & Opportunities, 2020”, solar power market in Saudi Arabia isprojected to witness phenomenal growth over the next five years. In the coming years, solar energy would be generated in the country by employing both photovoltaic (PV) technology and concentrated solar power (CSP) technology. According to the government’s Renewable Energy Program, 54 GW of renewable energy capacity would be installed by 2032, which includes 41 GW of solar energy capacity. “Saudi Arabia Solar Power Market Forecast & Opportunities, 2020” report elaborates following particulars about the solar power market in Saudi Arabia:
  • Saudi Arabia Solar Power Market Size, Share & Forecast
  • Policy & Regulatory Landscape
  • Changing Market Trends & Emerging Opportunities
  • Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
  • To gain an in-depth understanding of solar power market in Saudi Arabia.
  • To identify on-going trends and anticipated growth in the coming years.
  • To help industry consultants, solar energy producers, vendors and dealers to align their market-centric strategies
  • To obtain research based business decisions and add weight to presentations and marketing material
  • To gain competitive knowledge of leading players
  • To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer’s specific needs
Report Methodology 

The information contained in this report is based upon both primary and secondary sources. Primary research included surveys with key stakeholders associated with solar power industry. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.

Table of content

1.     Research Methodology

2.     Analyst View

3.     Product Overview

4.     Global Solar Power Market Outlook

5.     Saudi Arabia Power Sector Outlook

6.     Saudi Arabia Solar Power Market Outlook

6.1.   Market Size & Forecast

6.1.1. By Value

7.     Saudi Arabia Solar Photovoltaic Market Outlook

7.1.   Market Size & Forecast

7.1.1. By Value

8.     Saudi Arabia Concentrated Solar Power Market Outlook

8.1.   Market Size & Forecast

8.1.1. By Value

9.     Market Dynamics

9.1.   Drivers

9.2.   Challenges

10.  Market Trends and Developments

10.1.  Declining Cost of PV Systems

10.2.  Use of Solar Energy for Water Desalination

10.3.  Large Utility Scale Solar Power Plants

10.4.  Concentrated Solar Power

10.5.  Growing Trend towards Renewables

11.  Import Analysis

12.  Policy & Regulatory Landscape

13.  Saudi Arabia Economic Profile

14.  Competitive Landscape

14.1.  Suntech Power Holdings Co., Ltd.

14.2.  Canadian Solar Inc.

14.3.  Solar Frontier K.K

14.4.  Soitec

14.5.  ReneSola Ltd.

14.6.  Phoenix Solar AG

14.7.  Sun & Life

14.8.  SunPower Corporation

14.9.  Abengoa S.A.

14.10.  National Solar Systems LLC

15.  Strategic Recommendations


Figures and Tables

List of Figures


Figure 1:Global Solar Power Installed, By Capacity, 2010 – 2020F (GW)

Figure 2:Global Photovoltaic Solar Power Installed, By Capacity, 2010 – 2020F (GW)

Figure 3:Global Concentrated Solar Power Installed, By Capacity, 2010 – 2020F (GW)

Figure 4:Fuel Types Used in Electricity Production, 2013

Figure 5:Saudi Arabia Electricity Consumption, By Sector, 2013

Figure 6: Saudi Arabia Power Generation, By Company, 2013

Figure 7:Saudi Arabia Impact of Renewable Power on Fossil Fuel, 2013-2032

Figure 8:Saudi Arabia Solar Power Market Size, By Value, 2015E–2020F (USD Million)

Figure 9:Saudi Arabia Photovoltaic (PV) Market Size, By Value, 2015E–2020F (USD Million)

Figure 10:Saudi Arabia Concentrated Solar Power (CSP) Market Size, By Value, 2016–2020F (USD Million)

Figure 11:Saudi Arabia Horizontal Solar Radiation Map

Figure 12:Saudi Arabia Renewable Energy Targets, 2014-2032 (MW)

Figure 13: Saudi Arabia Oil & Gas Production and Consumption Trend, 2000, 2010 & 2020E (Million Metric Tons)

Figure 14:Competitive Procurement Round Process

Figure 15:Canadian Solar Inc., Financial Analysis, 2009-2013

Figure 16:Soitec, Financial Analysis, 2010-2014

Figure 17:ReneSola Ltd., Financial Analysis, 2010-2013

Figure 18:Phoenix Solar AG, Financial Analysis, 2009-2013

Figure 19:SunPower Corporation, Financial Analysis, 2009-2013

Figure 20:Abengoa S.A., Financial Analysis, 2010-2014


List of Tables


Table 1:Comparisons of Fuel Prices Paid by Electricity Producers in the Saudi Arabia with International Prices, 2013

Table 2: Saudi Arabia Electricity Industry Outlook

Table 3:Saudi Arabia Power Generation, By Company, 2013

Table 4:Saudi Arabia Solar Power Projects Commissioned/Announced

Table 5:Comparison of PV and CSP Technology

Table 6:Solar Technology Cost Comparison in Saudi Arabia, 2012

Table 7:Power Reduction Rate for Different Types of PV Due to Temperature

Table 8:Saudi Arabia Desalination Water Production Cost, By Technology, By Energy Source, 2012

Table 9:Saudi Arabia Import of Photosensitive Semi-conductor Devices, Country-Wise, By Value, 2008 - 2012 (USD Thousand)

Table 10:Saudi Arabia Target Power Capacities, 2032

Table 11:Saudi Arabia Solar Power Technology Specific Targets (MW)

Table 12:KACARE Competitive Procurement Process (CPP) Key Features

Table 13:Competitive Matrix, 2014

Frequently asked questions






Parvati Sharma

Account Manager BD
Press Release

Saudi Arabia Solar Power Market to Exhibit Robust Growth through 2020

Dec, 2015

Increasing government focus on Renewable Energy Program coupled with rising power demand to drive Saudi Arabia’s solar power market