Saudi Arabia Solar Photovoltaic (PV) Market Intelligence Report (2025-2034) Featuring LONGi Green Energy Technology Co., CHINT Group, GTek Solar and Other Key Players - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Solar Photovoltaic (PV) Market Report and Forecast 2025-2034" has been added to ResearchAndMarkets.com's offering.

The Saudi Arabia solar photovoltaic (PV) market has witnessed significant growth, achieving a size of approximately 1.90 Gigawatts in 2024. The market is poised for further expansion, with projections indicating a substantial compound annual growth rate (CAGR) of 11.50% from 2025 to 2034, reaching an estimated 5.64 Gigawatts by 2034.

Government initiatives are playing a crucial role in promoting solar energy adoption across Saudi Arabia. These initiatives include financial incentives and subsidies, as well as increased advocacy for solar rooftop installations.

Investment in research and development by key market players is opening lucrative growth opportunities. Innovations in photovoltaic technologies, such as bifacial cells combined with tandem technology, are driving advancements.

The widespread availability and cost-efficient nature of solar panels are facilitating market expansion. The country's abundant sunshine significantly enhances the electricity yield of solar panels.

Economic benefits derived from renewable energy utilization, such as solar energy, coupled with Saudi Arabia's unique climatic and geographical conditions, are boosting product demand.

Saudi Arabia Solar Photovoltaic (PV) Market Segmentation

The report provides an extensive analysis based on several segments:

Market Breakup by Technology

• Thin film
• Multi-Si
• Mono-Si
• Others

Market Breakup by Deployment

• Ground-mounted
• Rooftop Solar

Market Breakup by Connectivity

• On-grid
• Off-grid

Market Breakup by End Use

• Residential
• Commercial
• Utility

Market Breakup by Region

• Makkah
• Riyadh
• Madinah
• Qassim
• Eastern Province
• Others

Market Share by Deployment

Ground-mounted solar panels are anticipated to dominate, offering superior efficiency over rooftop counterparts. Their advantages include ease of repair, cleaning, and angle adjustment for optimal sunlight exposure.

Market Share by End Use

The residential sector commands a significant market share due to the affordability and accessibility of solar technology. Homeowners increasingly prefer solar energy for its independence from grid fluctuations and stable energy costs. Environmental concerns further propel residential sector adoption, bolstered by the reliability of solar energy.

Competitive Landscape

The report provides a comprehensive market analysis using Porter's five forces model and SWOT analysis, detailing the competitive landscape and development activities of key players in the Saudi Arabia solar photovoltaic (PV) market.

• LONGi Green Energy Technology Co., Ltd.: A leader in renewable energy, LONGi Green Energy Technology, headquartered in Shaanxi, China, specializes in solar photovoltaic, mono-crystalline modules, and wafers.
• CHINT Group: Based in Shanghai, China, CHINT Group manufactures power transmission and solar photovoltaic equipment, electrical appliances, and low-voltage apparatus, among other products.
• GTek Solar: Riyadh-based GTek Solar is renowned for producing solar photovoltaic systems, water pumps, power generating systems, and lighting solutions.

Other notable players in the Saudi Arabia solar photovoltaic market include Jinko Solar Co., Ltd, Clean Technologies Co., Bin Omairah Holding, and Power Lines Contracting Co.

For more information about this report visit https://www.researchandmarkets.com/r/aco3lc

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