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.
Saudi Arabia Solar Energy Market Driver:
Increased Electricity Tariffs Driving Demand for Solar Energy – The increase in electricity tariffs as of 2024, has significantly boosted the attractiveness of solar energy investments in Saudi Arabia. With the increase in electricity tariffs for residential customers, solar PV structures presenting shorter payback intervals of 5-7 years are becoming a popular choice. This monetary encouragement is leading to a notable transition to solar power, reducing dependence on conventional energy sources and advocating for environmentally friendly behaviors. The government of Saudi Arabia is projected to spend around USD 300 billion by 2030 on renewable energy projects. Therefore, it is anticipated that the solar energy market will experience a sturdy increase due to a combination of higher tariffs, government support, and ongoing technological advancements in solar cell performance and power storage. As a result, purchasers and organizations are displaying interest in solar solutions, and the market is anticipated to develop notably due to effective monetary and regulatory elements.
Download a free sample copy of the Report: https://www.marknteladvisors.com/query/request-sample/saudi-arabia-solar-energy-market.html
Key Market Reports Highlights
· Market Dimensions & Projections
· Pricing Evaluation
· Recent Strategic Moves by Companies
· Primary Stakeholders
· Import/Export Trend Analysis
· Competitive Landscape Assessment
· Emerging Opportunities
· Market Trends and Indicators
*Reports Delivery Format – Market research studies from MarkNtel Advisors are offered in PDF, Excel and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address.
Browse Full Report including (TOC+ List of Table and Figures): https://www.marknteladvisors.com/research-library/saudi-arabia-solar-energy-market.html
Saudi Arabia Solar Energy Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2024
-Historical Period: 2020 to 2023
-Forecast Period: 2025 to 2030
- By Type
- Solar Photovoltaic (PV) – Market Size & Forecast 2020-2030, USD Million
- Concentrated Solar Power (CSP)- Market Size & Forecast 2020-2030, USD Million
- By Application
- Residential- Market Size & Forecast 2020-2030, USD Million
- Commercial- Market Size & Forecast 2020-2030, USD Million
- Industrial- 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
- By Region
- Central
- South
- East
- West
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – 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, and others
Have questions? Our consultant is ready to assist: https://www.marknteladvisors.com/query/talk-to-our-consultant/saudi-arabia-solar-energy-market.html
We follow a tried-and-tested research methodology that blends top-down and bottom-up approaches to deliver highly accurate market insights. Every report is powered by data triangulation, ensuring well-rounded and validated findings.
From smart sample selection and reliable data collection to in-depth analysis and precise forecasting, our process is designed to minimize error and maximize impact.
About Us –
MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
Contact Us
MarkNtel Advisors
Email: sales@marknteladvisors.com
Website: www.marknteladvisors.com
Latest Press Release – https://www.marknteladvisors.com/press-release
