Saudi Arabia Solar Photovoltaics Market By Type (Thin film, Multi-Si, Mono-Si) By Installation mode (Rooftop and Ground Mounted) By Grid Type (Grid Connected and Off-Grid) By Application (Residential, Commercial, Utility), By Region, Company Forecast & Opportunities, 2027

Saudi Arabia Solar Photovoltaics market is expected to grow at a steady rate during the forecast period. High-end investments by the leading authorities to invest in the research and development activities for the up-gradation of the existing technological infrastructure of solar photovoltaics is expected to fuel the market growth in the next five years. The increase in the initiatives taken by the leading authorities for the adoption of renewable sources of energy and the rise in concerns regarding the adverse effect of the greenhouse gas emission into the environment is the contributing factor influencing the solar photovoltaics market growth. Reduction in the cost of solar technology has led to making solar energy more accessible and affordable. The rise in the population is increasing the demand for more energy generation which in turn is accelerating the growth of the solar photovoltaics market. The presence of high-capacity solar plants in Saudi Arabia and the rise in the adoption of solar energy in residential, commercial, and industrial sectors are expected to foster the solar photovoltaics market growth. Under the Saudi Vision 2030, the leading authorities are launching new schemes and making huge investments for the development of clean and sustainable energy infrastructure which is expected to fuel the solar photovoltaics market growth in the forecast period. The oil industry is the major revenue-generating source in Saudi Arabia and to reduce the dependency on the oil industry and generate new income sources and diversify the existing sources is expected to pave the way for the solar photovoltaics market growth.

The Saudi Arabia Solar Photovoltaics market is segmented into type, installation mode, grid type, application, regional distribution, and company. Based on the type, the market can be divided into thin film, multi-Si, mono-Si. The mono-Si segment is expected to witness growth in the forecast period, 2023-2027. These are suitable for large-scale installations in rooftops and can be used for industrial, commercial, and residential purposes. Mono-Si is compact, durable, and highly efficient which is further contributing to surging the demand for this segment.

The major players operating on the Solar Photovoltaics market are Desert Technologies, EGPHIL Solar Solutions, Hanwha Q Cells Co. Ltd, National Solar Systems Company, First Solar International Middle East FZ-LLC, SunPower Corporation, Gulf Batteries Co Ltd, SNC Lavalin Kentz SAUDI ARABIA, Sharp Middle East FZE, Vista Eco Solar Solutions LLC, and others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.

Objective of the Study

• To analyze and estimate the market size of Saudi Arabia Solar Photovoltaics market from 2017 to 2020.
• To estimate and forecast the market size of Saudi Arabia Solar Photovoltaics market from 2021 to 2027 and growth rate until 2027.
• To classify and forecast Saudi Arabia Solar Photovoltaics market based on type, installation mode, grid type, application, regional distribution, and company.
• To identify dominant region or segment in the Saudi Arabia Solar Photovoltaics market.
• To identify drivers and challenges for Saudi Arabia Solar Photovoltaics market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia Solar Photovoltaics market.
• To identify and analyze the profile of leading players operating in Saudi Arabia Solar Photovoltaics market.
• To identify key sustainable strategies adopted by market players in Saudi Arabia Solar Photovoltaics market.

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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of manufacturers across the globe. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the manufacturers which could not be identified due to the limitations of secondary research. Market insights research analyzed the manufacturers, distribution channels and presence of all major players across the globe.

Market insights research calculated the market size of

Key Target Audience

• Solar Photovoltaics manufacturing companies
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums, and alliances related to Solar Photovoltaics market

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.