MarkNtel Advisors Research Analyses that 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. 

Which are the top companies operating in the Saudi Arabia Solar Energy Market?

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

Competitive Landscape and Saudi Arabia Solar Energy Market Share Analysis:

The competitive landscape of the Saudi Arabia Solar Energy market offers detailed insights by company. These insights include company overviews, financial performance, revenue specific to the Saudi Arabia Solar Energy market, segment market potential, R&D investments, new market strategies, global footprint, production sites and capacities, key strengths and weaknesses, product launches, product range and diversity, as well as dominant applications.

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Research Scope and Market Categories:

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

Geographically, the report provides an in-depth analysis of consumption, revenue, market share, and growth rate—along with historical data and forecasts for the period 2025–2030 as detailed in the respective chapters.

By Region

- Central

- South

- East

- West

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Which are the driving factors of the Saudi Arabia Solar Energy Market?

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.

Key Report Highlights:

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.

Comprehensive Table of Contents Saudi Arabia Solar Energy Market Analysis and Forecast (2025-2030)

1. Market Segmentation
2. Introduction
   1. Product Definition
   2. Research Process
   3. Assumptions
3. Executive Summary
4. Research Methodology

1. Overview of Methodological Approaches
2. Study Objectives
3. Foundational Methodology

1. 1. Scope Definition
   2. Key Assumptions and Limitations

6. Forecasting Approach

1. Macroeconomic Outlook
2. Saudi Arabia Solar Energy Market Porters Five Forces Analysis
3. Saudi Arabia Solar Energy Market Supply Chain Analysis
4. Saudi Arabia Solar Energy Market Trends & Insights
5. Saudi Arabia Solar Energy Market Dynamics
   1. Drivers
   2. Challenges
6. Saudi Arabia Solar Energy Market Growth Opportunities & Hotspots
7. Saudi Arabia Solar Energy Market Policy & Regulations
8. Saudi Arabia Solar Energy Market Pricing Analysis
9. Saudi Arabia Solar Energy Market Outlook, 2020-2030F
   1. Market Size & Outlook
      1. Revenues (USD Million)
      2. Units Sold

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