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The Saudi Arabia solar PV module market exhibited robust growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 35% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use sectors. These insights are included in the report as a major market contributor.
A solar PV module is an assembly of photovoltaic (PV) cells that are arranged in a framework for installation. This module stimulates the power output and converts sunlight into direct current (DC). Solar PV modules are wired together in series and/or parallel to deliver voltage and current depending upon the requirement of a particular system. Some of the common variants of PV modules include monocrystalline, polycrystalline, cadmium telluride, amorphous silicon, copper indium gallium diselenide, etc.
In Saudi Arabia, the rising environmental concerns towards greenhouse gas (GHG) emissions are primarily driving the adoption of renewable energy sources, such as solar power. As a result, there is an increasing installation of solar PV modules across the residential, commercial, and industrial sectors. Additionally, the wide presence of high-capacity solar power plants in Saudi Arabia is also propelling the market growth. Furthermore, the Saudi Arabia government is heavily investing in the development of cleaner and sustainable energy infrastructure under numerous initiatives, such as Saudi Arabia Vision 2030. In line with this, the government organizations are focusing on reducing the dependency on conventional energy sources, such as oil and gas, thereby augmenting the demand for safer and cleaner alternatives. Additionally, the increasing penetration of international key players in the market has led to the introduction of highly efficient and lightweight product variants. Moreover, the extensive R&D activities for the launch of hybrid solar PV modules integrated with remote sensors, temperature controllers, adjustable arrays, etc., will continue to drive the market growth in Saudi Arabia during the forecast period.
IMARC Group provides an analysis of the key trends in each sub-segment of the Saudi Arabia solar PV module market, along with forecasts for the period 2021-2026. Our report has categorized the market based on technology, product type, connectivity, mounting and end use.
Breakup by Technology:
Breakup by Product Type:
Breakup by Connectivity:
Breakup by Mounting:
Breakup by End Use:
The competitive landscape of the industry has also been examined with some of the key players being Desert Technologies, Egphil Solar Solutions, Haala Energy, Hanwha Group, Meeco AG, National Solar Systems, Saudi American Solar, Sharp Middle East (Sharp Corporation), Sun Capture and Vista Eco.
|Base Year of the Analysis||2020|
|Segment Coverage||Technology, Product Type, Connectivity, Mounting, End Use|
|Companies Covered||Desert Technologies, Egphil Solar Solutions, Haala Energy, Hanwha Group, Meeco AG, National Solar Systems, Saudi American Solar, Sharp Middle East (Sharp Corporation), Sun Capture and Vista Eco.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
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Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
Key Questions Answered in This Report:
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