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Saudi Arabia Solar PV Module Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview 2022-2027:

The Saudi Arabia solar PV module market is expected to exhibit a CAGR of 5.2% during 2022-2027. 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.

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 2022-2027. 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 2021
Historical Period 2016-2021
Forecast Period 2022-2027
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)

1   Preface
2   Scope and Methodology
 
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Saudi Arabia Solar PV Module Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Technology
    6.1    Thin Film
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Crystalline Silicon 
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Others 
        6.3.1 Market Trends
        6.3.2 Market Forecast
7   Market Breakup by Product Type
    7.1    Monocrystalline 
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Polycrystalline
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Cadmium Telluride
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Amorphous Silicon
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast
8   Market Breakup by Connectivity
    8.1    On-Grid
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Off-Grid
        8.2.1 Market Trends
        8.2.2 Market Forecast
9   Market Breakup by Mounting
    9.1    Ground Mounted 
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Roof-Top 
        9.2.1 Market Trends
        9.2.2 Market Forecast
10  Market Breakup by End Use
    10.1    Residential
        10.1.1 Market Trends
        10.1.2 Market Forecast
    10.2    Commercial
        10.2.1 Market Trends
        10.2.2 Market Forecast
    10.3    Industrial
        10.3.1 Market Trends
        10.3.2 Market Forecast 
11  SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12  Value Chain Analysis
13  Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14  Competitive Landscape
    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Desert Technologies
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio 
        14.3.2    Egphil Solar Solutions
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio 
        14.3.3    Haala Energy
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio 
        14.3.4    Hanwha Group
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio 
        14.3.5    Meeco AG
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio 
        14.3.6    National Solar Systems
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
        14.3.7    Saudi American Solar
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio 
        14.3.8    Sharp Middle East (Sharp Corporation)
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
        14.3.9    Sun Capture
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
        14.3.10    Vista Eco
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio

List of Figures

Figure 1: Saudi Arabia: Solar PV Module Market: Major Drivers and Challenges
Figure 2: Saudi Arabia: Solar PV Module Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Saudi Arabia: Solar PV Module Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Saudi Arabia: Solar PV Module Market: Breakup by Technology (in %), 2021
Figure 5: Saudi Arabia: Solar PV Module Market: Breakup by Product Type (in %), 2021
Figure 6: Saudi Arabia: Solar PV Module Market: Breakup by Connectivity (in %), 2021
Figure 7: Saudi Arabia: Solar PV Module Market: Breakup by Mounting (in %), 2021
Figure 8: Saudi Arabia: Solar PV Module Market: Breakup by End Use (in %), 2021
Figure 9: Saudi Arabia: Solar PV Module (Thin Film) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Saudi Arabia: Solar PV Module (Thin Film) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Saudi Arabia: Solar PV Module (Crystalline Silicon) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Saudi Arabia: Solar PV Module (Crystalline Silicon) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Saudi Arabia: Solar PV Module (Other Technologies) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Saudi Arabia: Solar PV Module (Other Technologies) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Saudi Arabia: Solar PV Module (Monocrystalline) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Saudi Arabia: Solar PV Module (Monocrystalline) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Saudi Arabia: Solar PV Module (Polycrystalline) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Saudi Arabia: Solar PV Module (Polycrystalline) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Saudi Arabia: Solar PV Module (Cadmium Telluride) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Saudi Arabia: Solar PV Module (Cadmium Telluride) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Saudi Arabia: Solar PV Module (Amorphous Silicon) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Saudi Arabia: Solar PV Module (Amorphous Silicon) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Saudi Arabia: Solar PV Module (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Saudi Arabia: Solar PV Module (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Saudi Arabia: Solar PV Module (On-Grid) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Saudi Arabia: Solar PV Module (On-Grid) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Saudi Arabia: Solar PV Module (Off-Grid) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Saudi Arabia: Solar PV Module (Off-Grid) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Saudi Arabia: Solar PV Module (Ground Mounted) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Saudi Arabia: Solar PV Module (Ground Mounted) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Saudi Arabia: Solar PV Module (Roof-Top) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Saudi Arabia: Solar PV Module (Roof-Top) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Saudi Arabia: Solar PV Module (Residential) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Saudi Arabia: Solar PV Module (Residential) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Saudi Arabia: Solar PV Module (Commercial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Saudi Arabia: Solar PV Module (Commercial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Saudi Arabia: Solar PV Module (Industrial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Saudi Arabia: Solar PV Module (Industrial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Saudi Arabia: Solar PV Module Industry: SWOT Analysis
Figure 40: Saudi Arabia: Solar PV Module Industry: Value Chain Analysis
Figure 41: Saudi Arabia: Solar PV Module Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Saudi Arabia: Solar PV Module Market: Key Industry Highlights, 2021 and 2027
Table 2: Saudi Arabia: Solar PV Module Market Forecast: Breakup by Technology (in Million US$), 2022-2027
Table 3: Saudi Arabia: Solar PV Module Market Forecast: Breakup by Product Type (in Million US$), 2022-2027
Table 4: Saudi Arabia: Solar PV Module Market Forecast: Breakup by Connectivity (in Million US$), 2022-2027
Table 5: Saudi Arabia: Solar PV Module Market Forecast: Breakup by Mounting (in Million US$), 2022-2027
Table 6: Saudi Arabia: Solar PV Module Market Forecast: Breakup by End Use (in Million US$), 2022-2027
Table 7: Saudi Arabia: Solar PV Module Market: Competitive Structure
Table 8: Saudi Arabia: Solar PV Module Market: Key Players


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Key Questions Answered in This Report

We expect the Saudi Arabia solar PV module market to exhibit a CAGR of 5.2% during 2022-2027.

 

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.

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