Market Forecast By Technology (Thin Film, Crystalline Silicon, Others), By Product Type (Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon, Others), By Connectivity (On-Grid, Off-Grid), By Mounting (Ground Mounted, Roof-Top), By End Use (Residential, Commercial, Industrial) And Competitive Landscape
| Product Code: ETC9176449 | Publication Date: Sep 2024 | Updated Date: Jan 2026 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Summon Dutta | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
According to 6Wresearch internal database and industry insights, the Saudi Arabia Solar PV Module Market is projected to grow at a compound annual growth rate (CAGR) of 9.2% during the forecast period from 2026 to 2032.
Below mentioned are the evaluation of year-wise growth rate along with key drivers:
| Year | Est. Annual Growth (%) | Growth Drivers |
| 2021 | 7.4 | Major government investments in solar energy and regulatory support for clean energy projects. |
| 2022 | 7.8 | Strong government push to improve energy sources and reduce dependency on oil. |
| 2023 | 8.1 | Expansion in utility-scale solar projects and high demand for eco-friendly energy solutions. |
| 2024 | 8.5 | New advancements in PV module efficiency and cost reduction in solar power generation. |
| 2025 | 8.9 | Increase in residential and commercial solar installations due to less costs and incentives. |
The Saudi Arabia Solar PV Module Market report thoroughly covers the market by product type, technology, connectivity, mounting, and end-use. It provides an unbiased and detailed analysis of ongoing market trends, opportunities, challenges, and market drivers, helping stakeholders align their strategies with current and future market dynamics.
| Report Name | Saudi Arabia Solar PV Module Market |
| Forecast period | 2026–2032 |
| CAGR | 9.2% |
| Growing Sector | Renewable Energy |
Saudi Arabia Solar PV Module Market is expected to have major growth as it is driven by government policies, high demand for eco-friendly energy solutions, and new technological advancements in solar PV modules. This market is supported by favourable laws, investment in solar infrastructure, and growing awareness about environment damage. With Saudi Arabia's Vision 2030 initiative focusing on reducing its dependence on fossil fuels, the demand for solar energy solutions, especially solar PV modules are expected to have major growth in both residential and commercial sectors.
Below mentioned are some prominent drivers and their impact on the Saudi Arabia Solar PV Module Market dynamics:
| Drivers | Primary Segment Affected | Why It Matters (Evidence) |
| Government Initiatives and Incentives | All Segments | Programs like Vision 2030, tax rebates, and feed-in tariffs are increasing usage in all sectors. |
| Cost Reduction of Solar PV Modules | Residential, Commercial, Industrial | Lower prices and increasing affordability make solar PV modules more accessible to consumers. |
| Technological Advancements in Solar PV | Solar Photovoltaic (PV) | Better efficiency in solar PV modules is making them a more attractive option for generation of energy. |
| Growing Environmental Awareness | All Segments | High awareness about environmental impact pushes both consumers and businesses towards renewable energy sources. |
| Expansion of Solar Infrastructure | All Segments | Large investments in solar infrastructure are creating growth in all sectors of the market. |
Saudi Arabia Solar PV Module Market is projected to grow at a CAGR of 9.2% from 2026 to 2032. Some key factors for this growth are strong government support for renewable energy usage, high demand for sustainable and eco-friendly energy solutions, and new advancements in solar PV technologies. The demand for solar energy is rising in residential, commercial, and industrial sectors as Saudi Arabia strives to increase its energy sources and reduce its dependence on fossil fuels. The addition of solar energy storage solutions and the expansion of solar infrastructure are also fuelling the Saudi Arabia Solar PV Module Market Growth. As awareness about environmental sustainability and energy independence continues to increase, Saudi Arabia’s solar PV module market is expected to have major expansion in upcoming years.
Below mentioned are some major restraints and their influence on the Saudi Arabia Solar PV Module Market dynamics:
| Restraints | Primary Segment Affected | What This Means (Evidence) |
| High Initial Investment | Residential, Commercial, Industrial | Despite lower prices, the initial investment still remains a challenge for smaller businesses and households. |
| Land Availability for Large-Scale Installations | Solar Power Generation | Limited space for utility-scale solar installations reduces growth in the market. |
| Regulatory Challenges | All Segments | Lengthy permit approval processes can delay solar PV module projects. |
| Dependence on Imported Technology | All Segments | Dependence on international supply chains for solar PV modules can create delays and cost challenges. |
| Weather Variability | Solar Photovoltaic (PV) | Variability in weather conditions can reduce the consistency and efficiency of solar power generation. |
Saudi Arabia Solar PV Module Market faces many challenges such as the high upfront investment for installations, limited land for utility-scale projects, and regulatory difficulties that can slow down project approvals. Moreover, the country's dependence on imported solar technology can also affect timelines and costs of project. Despite all these challenges, the Saudi government's strong support for renewable energy usage, along with new advancements in solar PV technology continues to push the market in the forward direction. The weather variability can change the efficiency and consistency of solar power generation, particularly in those regions which have inconsistent sunlight.
Major trends that are changing the Saudi Arabia Solar PV Module Market dynamics are:
Some new investment opportunities in the Saudi Arabia Solar PV Module Industry are:
Below is the list of prominent companies leading in the Saudi Arabia Solar PV Module Market:
| Company Name | First Solar, Inc. |
|---|---|
| Established Year | 1999 |
| Headquarters | Tempe, Arizona, USA |
| Official Website | Click Here |
First Solar is a global leader in manufacturing solar PV modules with advanced thin-film technology, offering high-performance and cost-effective solutions for utility-scale projects.
| Company Name | JinkoSolar Holding Co., Ltd. |
|---|---|
| Established Year | 2006 |
| Headquarters | Shanghai, China |
| Official Website | Click Here |
JinkoSolar is one of the world's largest solar module manufacturers, offering high-quality, efficient crystalline silicon solar panels for a range of applications.
| Company Name | Trina Solar Limited |
|---|---|
| Established Year | 1997 |
| Headquarters | Changzhou, China |
| Official Website | Click Here |
Trina Solar specializes in the development and manufacturing of solar PV modules and is recognized for its innovation in high-efficiency solar technology.
| Company Name | SMA Solar Technology AG |
|---|---|
| Established Year | 1981 |
| Headquarters | Niestetal, Germany |
| Official Website | Click Here |
A leading global solar inverter manufacturer, SMA Solar Technology provides advanced solutions for residential, commercial, and large-scale PV systems.
| Company Name | Kraftwerke Venter GmbH |
|---|---|
| Established Year | 1996 |
| Headquarters | Vienna, Austria |
| Official Website | Click Here |
Kraftwerke Venter is a local leader in the Saudi solar energy market, specializing in the planning, installation, and maintenance of PV systems across residential, commercial, and industrial sectors.
According to Saudi Arabia’s Government data, they have introduced many initiatives to promote usage of solar energy, including Vision 2030, which focuses more on diversifying energy sources, reducing dependence on oil, and heavily investing in renewable energy, particularly solar power. To further increase private investments, the government offers many feed-in tariffs, subsidies, and tax incentives which makes solar energy more accessible. The Saudi Green Initiative aims to increase the share of renewable energy in the country’s energy mix and supports the development of solar energy infrastructure which accelerates the transition towards an eco-friendly energy future.
Saudi Arabia Solar PV Module Market is expected to continue its upward trajectory in the upcoming years due to increasing investments in solar infrastructure, favourable government policies, and new technological advancements. With ongoing reductions in solar PV module prices and the growing usage of solar energy storage systems, the Saudi Arabia Solar PV Module Industry is set to see further expansion. The addition of smart grid technologies and large-scale projects will likely increase demand in both residential and commercial solar applications. The government majorly supports research and development in solar technologies to improve efficiency of energy.
The report offers a comprehensive study of the following market segments and their leading categories:
According to Lakshita, Senior Research Analyst, 6Wresearch, Crystalline Silicon technology will dominate the Saudi Arabia Solar PV Module Market Share due to its high efficiency and suitability for large-scale deployments. Thin Film technology still remains secondary in demand.
Monocrystalline solar modules will continue to dominate due to their higher efficiency and better performance in low-light conditions compared to polycrystalline modules.
On-Grid systems will dominate due to the integration with existing grids and their suitability for large-scale solar projects in the industry.
Roof-Top installations are witnessing major growth due to high demand especially in urban residential areas where land availability is limited.
Residential applications are growing rapidly as it is driven by decreasing prices and government incentives for residential solar PV installations.
The report offers a comprehensive study of the following Saudi Arabia Solar PV Module Market segments:
| 1 Executive Summary |
| 2 Introduction |
| 2.1 Key Highlights of the Report |
| 2.2 Report Description |
| 2.3 Market Scope & Segmentation |
| 2.4 Research Methodology |
| 2.5 Assumptions |
| 3 Saudi Arabia Solar PV Module Market Overview |
| 3.1 Saudi Arabia Country Macro Economic Indicators |
| 3.2 Saudi Arabia Solar PV Module Market Revenues & Volume, 2022 & 2032F |
| 3.3 Saudi Arabia Solar PV Module Market - Industry Life Cycle |
| 3.4 Saudi Arabia Solar PV Module Market - Porter's Five Forces |
| 3.5 Saudi Arabia Solar PV Module Market Revenues & Volume Share, By Technology, 2022 & 2032F |
| 3.6 Saudi Arabia Solar PV Module Market Revenues & Volume Share, By Product Type, 2022 & 2032F |
| 3.7 Saudi Arabia Solar PV Module Market Revenues & Volume Share, By Connectivity, 2022 & 2032F |
| 3.8 Saudi Arabia Solar PV Module Market Revenues & Volume Share, By Mounting, 2022 & 2032F |
| 3.9 Saudi Arabia Solar PV Module Market Revenues & Volume Share, By End Use, 2022 & 2032F |
| 4 Saudi Arabia Solar PV Module Market Dynamics |
| 4.1 Impact Analysis |
| 4.2 Market Drivers |
| 4.2.1 Government initiatives and policies promoting renewable energy adoption |
| 4.2.2 Increasing focus on reducing carbon footprint and achieving sustainability goals |
| 4.2.3 Declining costs of solar PV modules and associated technologies |
| 4.3 Market Restraints |
| 4.3.1 Dependence on subsidies and incentives for solar PV adoption |
| 4.3.2 Lack of grid infrastructure and energy storage capabilities |
| 4.3.3 Regulatory and policy uncertainties impacting investment decisions |
| 5 Saudi Arabia Solar PV Module Market Trends |
| 6 Saudi Arabia Solar PV Module Market, By Types |
| 6.1 Saudi Arabia Solar PV Module Market, By Technology |
| 6.1.1 Overview and Analysis |
| 6.1.2 Saudi Arabia Solar PV Module Market Revenues & Volume, By Technology, 2022- 2032F |
| 6.1.3 Saudi Arabia Solar PV Module Market Revenues & Volume, By Thin Film, 2022- 2032F |
| 6.1.4 Saudi Arabia Solar PV Module Market Revenues & Volume, By Crystalline Silicon, 2022- 2032F |
| 6.1.5 Saudi Arabia Solar PV Module Market Revenues & Volume, By Others, 2022- 2032F |
| 6.2 Saudi Arabia Solar PV Module Market, By Product Type |
| 6.2.1 Overview and Analysis |
| 6.2.2 Saudi Arabia Solar PV Module Market Revenues & Volume, By Monocrystalline, 2022- 2032F |
| 6.2.3 Saudi Arabia Solar PV Module Market Revenues & Volume, By Polycrystalline, 2022- 2032F |
| 6.2.4 Saudi Arabia Solar PV Module Market Revenues & Volume, By Cadmium Telluride, 2022- 2032F |
| 6.2.5 Saudi Arabia Solar PV Module Market Revenues & Volume, By Amorphous Silicon, 2022- 2032F |
| 6.2.6 Saudi Arabia Solar PV Module Market Revenues & Volume, By Others, 2022- 2032F |
| 6.3 Saudi Arabia Solar PV Module Market, By Connectivity |
| 6.3.1 Overview and Analysis |
| 6.3.2 Saudi Arabia Solar PV Module Market Revenues & Volume, By On-Grid, 2022- 2032F |
| 6.3.3 Saudi Arabia Solar PV Module Market Revenues & Volume, By Off-Grid, 2022- 2032F |
| 6.4 Saudi Arabia Solar PV Module Market, By Mounting |
| 6.4.1 Overview and Analysis |
| 6.4.2 Saudi Arabia Solar PV Module Market Revenues & Volume, By Ground Mounted, 2022- 2032F |
| 6.4.3 Saudi Arabia Solar PV Module Market Revenues & Volume, By Roof-Top, 2022- 2032F |
| 6.5 Saudi Arabia Solar PV Module Market, By End Use |
| 6.5.1 Overview and Analysis |
| 6.5.2 Saudi Arabia Solar PV Module Market Revenues & Volume, By Residential, 2022- 2032F |
| 6.5.3 Saudi Arabia Solar PV Module Market Revenues & Volume, By Commercial, 2022- 2032F |
| 6.5.4 Saudi Arabia Solar PV Module Market Revenues & Volume, By Industrial, 2022- 2032F |
| 7 Saudi Arabia Solar PV Module Market Import-Export Trade Statistics |
| 7.1 Saudi Arabia Solar PV Module Market Export to Major Countries |
| 7.2 Saudi Arabia Solar PV Module Market Imports from Major Countries |
| 8 Saudi Arabia Solar PV Module Market Key Performance Indicators |
| 8.1 Average cost per watt of solar PV modules in Saudi Arabia |
| 8.2 Percentage of electricity generated from solar PV sources in the country's total energy mix |
| 8.3 Installation capacity of solar PV modules in megawatts per year |
| 9 Saudi Arabia Solar PV Module Market - Opportunity Assessment |
| 9.1 Saudi Arabia Solar PV Module Market Opportunity Assessment, By Technology, 2022 & 2032F |
| 9.2 Saudi Arabia Solar PV Module Market Opportunity Assessment, By Product Type, 2022 & 2032F |
| 9.3 Saudi Arabia Solar PV Module Market Opportunity Assessment, By Connectivity, 2022 & 2032F |
| 9.4 Saudi Arabia Solar PV Module Market Opportunity Assessment, By Mounting, 2022 & 2032F |
| 9.5 Saudi Arabia Solar PV Module Market Opportunity Assessment, By End Use, 2022 & 2032F |
| 10 Saudi Arabia Solar PV Module Market - Competitive Landscape |
| 10.1 Saudi Arabia Solar PV Module Market Revenue Share, By Companies, 2022-2032F |
| 10.2 Saudi Arabia Solar PV Module Market Competitive Benchmarking, By Operating and Technical Parameters |
| 11 Company Profiles |
| 12 Recommendations |
| 13 Disclaimer |
Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.
By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.
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