Saudi Arabia Solar Photovolatic (PV) Market Analysis, 2020

Saudi Arabia Solar Photovoltaic (PV) Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of Saudi Arabia Solar Photovoltaic (PV) market which consists of regional and country-wise market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.

Market Opportunities

According to MarkNtel Advisors’ research report titled “Saudi Arabia Solar Photovoltaic (PV) Market Analysis, 2020”, the Saudi Arabia Solar Photovoltaic (PV) market is anticipated to grow at a CAGR of 5% during 2021-26. The growth in the solar energy sector witnessed under the Saudi Vision 2030 that plans for economic diversification. KSA has planned to install 27.3 GW of renewable energy by 2023, most of which, 20 GW, will be solar PV. By 2030, the country planned to reach 40 GW, 16 GW, and 2.7 GW for solar PV, wind, and CSP, respectively. The reduction in the cost of solar panels would help in achieving the targets in the country, therefore, a sudden momentous rise in the demand for solar photovoltaic is anticipated during 2021-2026.

Impact of COVID-19 on Solar Photovoltaic (PV)

Lockdowns & restrictions in the wake of the COVID-19 have negatively impacted the whole economy and also the sales of solar PV by disrupting supply chains, creating a shortage of labor.and delay in projects.

Market Segmentation

Thin Film Segment Projected to Witness a Sturdy Growth

Thin-film segment acquired the majority market share in 2019 since the thin-film segment is made from non-silicon materials which are known as second-generation solar cells. Thin film is also preferred as it is flexible, thin-film solar cells can double as rooftop shingles and tiles. Solar PV is a technology that is extensively used to produce electricity without moving parts as stated in the MarkNtel Advisors’ research report “Saudi Arabia Solar Photovoltaic (PV) Market Analysis, 2020”. 

Competitive Landscape

According to MarkNtel Advisors, the key players with a considerable market share in the Saudi Arabia Solar Photovoltaic (PV) market include First Solar, Inc., Gtek Solar, Sharp Corporation, Hanwha Q Cells Co. Ltd, National Solar System, Egphil Solar Solutions, Vista Eco Solutions, Gulf Batteries Co Ltd, SunPower Corporation, JinkoSolar Holding Co. Ltd, etc.

Key Questions Answered in the Market Research Report:

1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of Saudi Arabia Solar Photovoltaic (PV) Market?
2. What is the country wise industry size, growth drivers and challenges key market trends?
3. What are the key innovations, technology upgrades, opportunities, regulations in the Saudi Arabia Solar Photovoltaic (PV) Market?  
4. Who are the key competitors or market players and how they perform in Saudi Arabia Solar Photovoltaic (PV) Market on the basis of the competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of Saudi Arabia Solar Photovoltaic (PV) Market study?   

 Market Outlook, Segmentation and Statistics:

• Impact of Covid-19 on Solar Photovoltaic (PV) Market in Saudi Arabia Countries
• Market Size & Analysis
  • By Revenues
• Market Share & Analysis
  • By Type
    • Thin Film
    • Mono-Crystalline
    • Poly-Crystalline 
  • By End Users
    • Residential
    • Commercial
  • By Deployment
    • Rooftop
    • Ground Mounted
  • By Region
    • East
    • West
    • South
    • Central
  • By Company
    • Revenue Shares
    • Strategic Factorial Indexing
    • Competitor Placement in MarkNtel Quadrant
• Saudi Arabia Solar Photovoltaic (PV) Market Policies, Regulations, Product Standard
• Saudi Arabia Solar Photovoltaic (PV) Market Intellectual Property Rights Analysis
• Saudi Arabia Solar Photovoltaic (PV) Market Hotspots & Opportunities
• Competition Outlook
  • Competitor Wise Growth Strategies
  • Company Profiles

Frequently Asked Questions 

Q. What is the historical year, base year and forecast year considered in the research report on Saudi Arabia Solar Photovoltaic (PV) Market?
A. The historical data has been provided since 2016, while the base year is 2020 and the data is forecast up-to 2026.

Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.

Q. What would be the growth rate or CAGR of Saudi Arabia Solar Photovoltaic (PV) Market during 2021-26?
A. The Saudi Arabia Solar Photovoltaic (PV) Market is expected to grow at a CAGR of 5% during 2021-26.

Q. Who are the key competitors or players operating in Saudi Arabia Solar Photovoltaic (PV) Market? 
A.   First Solar, Inc., Gtek Solar, Sharp Corporation, Hanwha Q Cells Co. Ltd, National Solar System, Egphil Solar Solutions, Vista Eco Solutions, Gulf Batteries Co Ltd, SunPower Corporation, JinkoSolar Holding Co. Ltd, etc. are a few of the leading players in the Saudi Arabia Solar Photovoltaic (PV) Market.

Q. Which type segment would emerge as an opportunity area for players in Saudi Arabia Solar Photovoltaic (PV) Market?
A. Thin Film segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.

Q. Which region would emerge as an opportunity area for players in Saudi Arabia Solar Photovoltaic (PV) Market?
A. West grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for market players of Saudi Arabia Solar Photovoltaic (PV) Market.