Market Insights: Saudi Arabia Solar Energy Industry Size, Share, and Growth Forecasts for 2030

Saudi Arabia Solar Energy Market

Saudi Arabia Solar Energy Market Overview and Insights:

According to MarkNtel Advisors Report, the Saudi Arabia Solar Energy Market size was valued at around USD 6 billion in 2024 and is projected to reach USD 49 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 42% during the forecast period, i.e., 2025-30. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

Time Period Captured in the Report:

Historical Years: 2020-23

Base Years: 2024

Forecast Years: 2025-30

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Who are the Key Players Operating in the Saudi Arabia Solar Energy Industry?

The top companies of the Saudi Arabia Solar Energy market ruling the industry are:

  • Alfanar Group
  • Abu Dhabi Future Energy Company (Masdar)
  • EDF Renewables
  • ACWA Power Company
  • Saudi Aramco Power Company (SAPCO)
  • Guangdong Power Engineering Company
  • JinkoSolar Holding Co. Ltd.
  • Enel Green Power s.p.a.
  • Desert Technologies
  • Baker Hughes Company
  • Engie SA
  • Others

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What is Included in Saudi Arabia Solar Energy Market Segmentation?

The report has segmented the market into the following categories:

-By Application

  • Residential
  • Commercial
  • Industrial

In recent years, there has been a huge growth in the residential segment of the Saudi Arabian Solar Energy Market. This industry represents more than 35% of the market. Notwithstanding its small market share, the industry’s boom is driven by the growing quantity of solar energy plants being adopted, which is the primary component promoting its development. The reduced set-up prices and reduced monthly electricity payments are a few of the subsidies furnished by the national government that have resulted in the growth of residential sectors. Tasks like rooftop solar electricity plants assist the government in reaching their renewable power goals efficiently and ahead of schedule. Both the government and private energy corporations are promoting the setup of small rooftop solar electricity structures to maximize the usage of solar power to meet the country’s energy needs.

-By Type

  • Solar Photovoltaic (PV) – Market Size & Forecast 2020-2030, USD Million
  • Concentrated Solar Power (CSP)- Market Size & Forecast 2020-2030, USD Million

-By End-Use

  • Electricity Generation- Market Size & Forecast 2020-2030, USD Million
  • Heating- Market Size & Forecast 2020-2030, USD Million
  • Charging- Market Size & Forecast 2020-2030, USD Million
  • Lighting- Market Size & Forecast 2020-2030, USD Million

-By Solar Module

  • Monocrystalline- Market Size & Forecast 2020-2030, USD Million
  • Polycrystalline- Market Size & Forecast 2020-2030, USD Million
  • Cadmium Telluride- Market Size & Forecast 2020-2030, USD Million
  • Amorphous Silicone Cells- Market Size & Forecast 2020-2030, USD Million
  • Others- Market Size & Forecast 2020-2030, USD Million

Geographical Analysis

-By Region

  • Central
  • South
  • East
  • West

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For Further Queries:

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry?
  4. How has the industry been evolving in terms of geography and product adoption?
  5. How has the competition been shaping up across various regions?

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