Saudi Arabia Solar Energy Systems Market Size & Outlook
The solar energy systems market in Saudi Arabia is expected to reach a projected revenue of US$ 0.5 billion by 2030. A compound annual growth rate of 18.7% is expected of Saudi Arabia solar energy systems market from 2023 to 2030.
Revenue, 2022 (US$B)
$0.1
Forecast, 2030 (US$B)
$0.5
CAGR, 2023 - 2030
18.7%
Report Coverage
Saudi Arabia
Global Market
Related Markets
Saudi Arabia solar energy systems market highlights
- The Saudi Arabia solar energy systems market generated a revenue of USD 0.1 billion in 2022 and is expected to reach USD 0.5 billion by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 18.7% from 2023 to 2030.
- In terms of segment, solar panels was the largest revenue generating product in 2022.
- Inverter is the most lucrative product segment registering the fastest growth during the forecast period.
Solar energy systems market data book summary
| Market revenue in 2022 | USD 0.1 billion |
| Market revenue in 2030 | USD 0.5 billion |
| Growth rate | 18.7% (CAGR from 2023 to 2030) |
| Largest segment | Solar panels |
| Fastest growing segment | Inverter |
| Historical data | 2019 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Solar Panels, Charge Controllers, Battery, Inverter |
| Key market players worldwide | Huawei Technologies, Fimer, JinkoSolar Holding Co Ltd DR, LONGi Solar |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 0.1% of the global solar energy systems market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa solar energy systems market is projected to lead the regional market in terms of revenue in 2030.
- Nigeria is the fastest growing regional market in Middle East & Africa and is projected to reach USD 0.1 billion by 2030.
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Solar Energy Systems Market Scope
Solar Energy Systems Market segmentation & scope
Solar Energy Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Huawei Technologies | View profile | 10001+ | Shenzhen, Guangdong, China, Asia | huawei.com |
| JinkoSolar Holding Co Ltd DR | View profile | 31,030 | 1 Yingbin Road, Shangrao Economic Development Zone, Jiangxi Province, Shangrao, China, People's Republic of, 334100 | www.jinkosolar.com/en |
| Fimer | View profile | 1001-5000 | Monza, Lombardia, Italy, Europe | www.fimer.com/en/company/news |
| LONGi Solar | View profile | 1001-5000 | Xian Shi, Shaanxi, China, Asia | en.longi-solar.com/ |
Saudi Arabia Solar Energy Systems Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Solar Energy Systems Market Outlook will help companies and investors design strategic landscapes.
Solar Panels was the largest segment with a revenue share of 100.0% in 2022.
Horizon Databook has segmented the Saudi Arabia solar energy systems market based on solar panels, charge controllers, battery, inverter covering the revenue growth of each sub-segment from 2019 to 2030.
- Saudi Arabia Solar Energy Systems Market Product Outlook (Revenue, USD Billion , 2019-2030)
- Solar Panels
- Charge Controllers
- Battery
- Inverter
- Others
- Saudi Arabia Solar Energy Systems Market End Use Outlook (Revenue, USD Billion , 2019-2030)
- Residential
- Commercial
- Industrial
- Utility
- Saudi Arabia Solar Energy Systems Market Source Outlook (Revenue, USD Billion , 2019-2030)
- New Installation
- MRO
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia Solar Energy Systems Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia Solar Energy Systems Market Outlook from 2019 to 2030, including revenue numbers, major trends, and company profiles.
Saudi Arabia Solar Energy Systems Market, 2019-2030 (US$B)
Saudi Arabia solar energy systems market statistics, by product, 2019-2030 (USD Billion)
