UAE Solar Pv Panels Market Size & Outlook, 2023-2030
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UAE solar pv panels market highlights
- The UAE solar pv panels market generated a revenue of USD 1,596.5 million in 2023 and is expected to reach USD 2,095.2 million by 2030.
- The UAE market is expected to grow at a CAGR of 4% from 2024 to 2030.
- In terms of segment, thin film was the largest revenue generating technology in 2023.
- Crystalline Silicon is the most lucrative technology segment registering the fastest growth during the forecast period.
Solar pv panels market data book summary
| Market revenue in 2023 | USD 1,596.5 million |
| Market revenue in 2030 | USD 2,095.2 million |
| Growth rate | 4% (CAGR from 2023 to 2030) |
| Largest segment | Thin film |
| Fastest growing segment | Crystalline Silicon |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Thin Film, Crystalline Silicon |
| Key market players worldwide | JinkoSolar Holding Co Ltd DR, Canadian Solar Inc, Hanwha, GCL Technology Holdings Ltd, First Solar Inc, SunPower Corp |
Other key industry trends
- In terms of revenue, UAE accounted for 0.9% of the global solar pv panels market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, UAE solar pv panels market is projected to lead the regional market in terms of revenue in 2030.
- Egypt is the fastest growing regional market in Middle East & Africa and is projected to reach USD 771.2 million by 2030.
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Solar PV Panels Market Scope
Solar PV Panels Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| SunPower Corp | View profile | 4710 | 51 Rio Robles, San Jose, CA, United States, 95134 | https://www.sunpower.com |
| Canadian Solar Inc | View profile | 22234 | 545 Speedvale Avenue West, Guelph, ON, Canada, N1K 1E6 | https://www.canadiansolar.com |
| JinkoSolar Holding Co Ltd DR | View profile | 31030 | 1 Yingbin Road, Shangrao Economic Development Zone, Jiangxi Province, Shangrao, China, People's Republic of, 334100 | https://www.jinkosolar.com/en |
| GCL Technology Holdings Ltd | View profile | 12446 | 1 Austin Road West, Unit 1703-1706, Level 17, International Commerce Centre, Hong Kong, Hong Kong | http://www.gcltech.com |
| First Solar Inc | View profile | 6700 | 350 West Washington Street, Suite 600, Tempe, AZ, United States, 85288 | https://www.firstsolar.com |
| Hanwha | View profile | 5001-10000 | Seoul, Seoul-t'ukpyolsi, South Korea, Asia | https://www.hanwhacorp.co.kr/eng/index.jsp |
UAE solar pv panels 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 pv panels market will help companies and investors design strategic landscapes.
Thin film was the largest segment with a revenue share of 44.13% in 2023. Horizon Databook has segmented the UAE solar pv panels market based on thin film, crystalline silicon covering the revenue growth of each sub-segment from 2018 to 2030.
The government of the UAE has been actively looking to diversify its energy generation mix away from traditional sources of energy generation. The country has been promoting the use of solar power plants by providing incentive schemes for private companies to enter the market.
For instance, in February 2023, Tawazun Industrial Park (TIP) announced the construction of a solar power plant with a capacity of 4,382 KW. The total installation is expected to consist of 7,600 solar panels on both rooftop and carport applications.
The plant is expected to become operational by the end of 2023. The UAE is one of the major countries in the region in terms of consumption of solar PV panels due to the increase in penetration of solar energy. The rising number of grid-connected solar PV projects in the country is expected to boost the demand for solar PV panels over the forecast period.
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Our clientele includes a mix of solar pv panels market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the UAE solar pv panels market , including forecasts for subscribers. This country databook contains high-level insights into UAE solar pv panels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UAE solar pv panels market size, by technology, 2018-2030 (US$M)
UAE Solar PV Panels Market Outlook Share, 2023 & 2030 (US$M)
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