Saudi Arabia Solar Energy Systems Market Size & Outlook

The solar energy systems market in Saudi Arabia is expected to reach a projected revenue of US$ 0.5 billion by 2030. A compound annual growth rate of 19.2% is expected of Saudi Arabia solar energy systems market from 2023 to 2030.
Revenue, 2022 (US$B)
$0.1
Forecast, 2030 (US$B)
$0.5
CAGR, 2023 - 2030
22.3%
Report Coverage
Saudi Arabia

Saudi Arabia solar energy systems market, 2019-2030 (US$B)

Saudi

Saudi Arabia solar energy systems market highlights

  • The Saudi Arabia solar energy systems market generated a revenue of USD 0.1 billion in 2022 and is expected to reach USD 0.5 billion by 2030.
  • The Saudi Arabia market is expected to grow at a CAGR of 19.2% from 2023 to 2030.
  • In terms of segment, solar panels was the largest revenue generating product in 2022.
  • Battery is the most lucrative product segment registering the fastest growth during the forecast period.


Solar energy systems market data book summary

Market revenue in 2022USD 0.1 billion
Market revenue in 2030USD 0.5 billion
Growth rate19.2% (CAGR from 2022 to 2030)
Largest segmentSolar panels
Fastest growing segmentBattery
Historical data2019 - 2021
Base year2022
Forecast period2023 - 2030
Quantitative unitsRevenue in USD billion
Market segmentationSolar Panels, Charge Controllers, Battery, Inverter
Key market players worldwideHuawei Technologies, Fimer, JinkoSolar Holding Co Ltd DR, LONGi Solar


Other key industry trends

  • In terms of revenue, Saudi Arabia accounted for 0.1% of the global solar energy systems market in 2022.
  • Country-wise, China is expected to lead the global market in terms of revenue in 2030.
  • In Middle East & Africa, South Africa solar energy systems market is projected to lead the regional market in terms of revenue in 2030.
  • Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 0.5 billion by 2030.

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Solar Energy Systems Market Companies

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Saudi Arabia solar energy systems market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to solar energy systems market will help companies and investors design strategic landscapes.


Solar panels was the largest segment with a revenue share of 100% in 2022. Horizon Databook has segmented the Saudi Arabia solar energy systems market based on solar panels, charge controllers, battery, inverter covering the revenue growth of each sub-segment from 2019 to 2030.


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  • Our clientele includes a mix of solar energy systems market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia solar energy systems market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia solar energy systems market from 2019 to 2030, including revenue numbers, major trends, and company profiles.

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Saudi Arabia solar energy systems market size, by product, 2019-2030 (US$B)

Saudi Arabia Solar Energy Systems Market Outlook Share, 2022 & 2030 (US$B)

Saudi Arabia solar energy systems market size, by product, 2019-2030 (US$B)

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