The Saudi Arabia solar PV module market is expected to exhibit a growth rate (CAGR) of 5% during 2023-2028.
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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Saudi Arabia solar PV module market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on technology, product type, connectivity, mounting and end use.
Breakup by Technology:
Thin Film
Crystalline Silicon
Others
Breakup by Product Type:
Monocrystalline
Polycrystalline
Cadmium Telluride
Amorphous Silicon
Others
Breakup by Connectivity:
On-Grid
Off-Grid
Breakup by Mounting:
Ground Mounted
Roof-Top
Breakup by End Use:
Residential
Commercial
Industrial
Competitive Landscape:
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.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
Units
US$ Billion
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$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
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
We expect the Saudi Arabia solar PV module market to exhibit a CAGR of 5% during 2023-2028.
The increasing environmental concern towards Greenhouse Gas (GHG) emissions, along with the rising focus on reducing the dependency on conventional energy sources, such as oil and gas, is primarily driving the Saudi Arabia solar PV module market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation resulting in temporary closure of numerous manufacturing units for solar PV modules.
Based on the technology, the Saudi Arabia solar PV module market can be segmented into thin film, crystalline silicon, and others. Currently, thin film holds the majority of the total market share.
Based on the product type, the Saudi Arabia solar PV module market has been divided into monocrystalline, polycrystalline, cadmium telluride, amorphous silicon, and others. Among these, monocrystalline currently exhibits a clear dominance in the market.
Based on the connectivity, the Saudi Arabia solar PV module market can be categorized into on-grid and off-grid. Currently, on-grid accounts for the majority of the global market share.
Based on the mounting, the Saudi Arabia solar PV module market has been segregated into ground mounted and roof-top, where ground mounted currently holds the largest market share.
Based on the end use, the Saudi Arabia solar PV module market can be bifurcated into residential, commercial, and industrial. Currently, the residential sector exhibits a clear dominance in the market.
Some of the major players in the Saudi Arabia solar PV module market include 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.
Need more help?
Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.
Gain a deeper dive into a specific application, geography, customer, or competitor
Any level of personalization
Get in Touch With Us
UNITED STATES
Phone: +1-631-791-1145
INDIA
Phone: +91-120-433-0800
UNITED KINGDOM
Phone: +44-753-713-2163
Email: sales@imarcgroup.com
Client Testimonials
IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.
The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required
We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra
We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.
The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.
The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.
My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.
I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.
We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.
IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.
This site uses cookies (including third-party cookies) to record user’s preferences which help us to enhance our services. For further information review our Privacy Policy.
This site uses cookies to improve user experience.Privacy Policy.