Middle East and Africa Solar System Market (2023-2029) | Share, Growth, Industry, Value, Trends, Size, Analysis, Revenue, Segmentation, Outlook & COVID-19 IMPACT

Middle East and Africa Solar System Market Synopsis

The Middle East and Africa Solar System Market registered decent growth in the past few years on the back of initiatives by various countries such as “The Saudi Green Initiative 2030”, “Egypt Vision 2030”, “Bahrain Vision 2030”, “And Kuwait Vision 2035” which led to the growth of solar system market in the Middle East and Africa. Moreover, the government in UAE aims to produce 50% of electricity from carbon-free sources by 2050, Bahrain plans to have 15% renewable energy by 2035, and Lebanon targets a 30% renewable energy mix by 2030 that would further augment the growth of the solar system market in upcoming years.

According to 6Wresearch, the Middle East and Africa Solar System market is projected to grow at a CAGR of 9.5% in terms of revenues during 2023-2029F. Middle East and Africa Solar System Industries have grown significantly in the past few years owing to the construction of solar plants such as the 300 MW Sakaka PV plant in Saudi Arabia, 3 MW Tatweer Petroleum in Bahrain along with Dubai Electricity & Water Authority installed 1,276 solar panels till 2019 under the Shams initiative.

The construction of upcoming solar projects by Middle East and African nations such as Manah Solar 1 and Manah Solar 2 (Oman), Al-Ajban solar park (UAE), Saad Solar PV project (Saudi Arabia), Kisumu solar one PV Park (Kenya), Ashama solar power station (Nigeria) would propel the market for solar panels, solar inverters, and solar batteries. Moreover, the rising contribution of solar energy in power generation across the Middle East and African countries would drive the market for solar systems in the upcoming years.

Solar System Market in the Middle East and Africa is also projected to grow in the future on account of the development of new solar power plants such as Hurghada Solar Park(Egypt), Aswan Solar Project(Egypt), Dias's solar power station (Senegal), and Subiya Water Storage Solar PV Plant (Kuwait).

MEA Solar Panel Market (Market by Module Type)

Based on the module type, the thin film segment acquired the largest revenue share in the MEA Solar Panel Market and is expected to witness growth in the coming future on account of more customer preference owing to its high user application coupled with cost-effectiveness and low maintenance cost.

MEA Solar Panel Market (Market by Applications)

Based on applications, the government segment accounted for the largest revenue share in the MEA Solar Panel Market, and a similar trend is estimated to continue in the years to come.

MEA Solar Inverter Market (Market by Types)

Based on type, the string inverter attained the largest revenue share in the MEA Solar Inverter Market, and solar panels will continue to attain the largest revenue share in the market in the years to come.

MEA Solar Inverter Market (Market by System Type)

On the basis of system type, the off-grid segment accounted for the major revenue share in countries like Saudi Arabia, Oman, Nigeria, Kenya, Lebanon, and Jordan, whereas in other MEA countries such as UAE, Qatar, Kuwait, Bahrain, Egypt, Senegal, and South Africa, the on-grid segment accounted for the maximum revenue share.

MEA Solar Inverter Market (Market by Applications)

On the basis of application, the government segment gained the largest revenue share in the MEA Solar System Market and it will keep attaining the largest revenue share in the near future.

MEA Solar Battery Market (Market by Type)

Based on type, the lead acid segment held the maximum revenue share in the MEA Solar Battery Market and this segment is anticipated to dominate the sector in the future.

MEA Solar Battery Market (Market by Applications)

It was the government segment that gained the major revenue share in the MEA Solar Battery Market in the past few years, and it is estimated that a similar segment will gain a major revenue share in the sector.

MEA Solar Battery Market (Market by Countries)

By countries, UAE acquired the maximum revenue share on the back of the construction of the fourth phase of Mohammed bin Rashid Al Maktoum Solar Park. In the years ahead UAE would continue to garner the maximum revenue share in the Middle East and Africa solar system market owing to the upcoming solar projects such as the Al Ajban Solar PV project, the sixth phase of Mohammed bin Rashid Al Maktoum Solar Park.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 11 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• MEA Solar System Market Overview
• MEA Solar System Market Outlook
• MEA Solar System Market Forecast
• Historical Data and Forecast of MEA Solar System Market Revenues for the Period 2019-2029F
• Historical Data and Forecast of MEA Solar System Market Revenues, By Countries, for the Period 2019-2029F
• Historical Data and Forecast of MEA Solar System Market Revenues, By Solar Panels, for the Period 2019-2029F
• Historical Data and Forecast of MEA Solar System Market Revenues, By Solar Inverter, for the Period 2019-2029F
• Historical Data and Forecast of MEA Solar System Market Revenues, By Solar Battery, for the Period 2019-2029F
• MEA Solar System Market Trends
• Market Drivers and Restraints
• Industry Life Cycle
• Porter’s Five Force Analysis
• Company Ranking
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

MEA Solar Panel Market

By Module Type

• Thin Film
• Crystalline

By Applications

• Government
• Private

MEA Solar Inverter Market

By Types

• Central Inverter
• String Inverter
• Micro Inverter

By System Type

• On Grid
• Off Grid
• Hybrid

By Applications

• Government
• Private

MEA Solar Battery Market

By Type

• Lead Acid
• Lithium Ion
• Others

By Applications

• Government
• Private

By Countries

• Saudi Arabia
• UAE
• Qatar
• Kuwait
• Oman
• Bahrain
• Egypt
• Senegal
• Nigeria
• Kenya
• Lebanon
• Jordan
• South Africa

Middle East and Africa Solar System Market: FAQs