Saudi Arabia Solar Inverter Market Outlook (2022-2028) | Trends, Growth, Analysis, Size, Companies, Value, Industry, COVID-19 IMPACT, Share, Forecast & Revenue
Market Forecast By System Types (Off-Grid System Type, On-Grid System Type), By Types (Central Solar Inverter, String Solar Inverter, Micro Solar Inverter), By Power Ratings (Below 10 kW, 10.1 kW- 100 kW, 100.1 kW- 1 MW, Above 1 MW), By Applications (Commercial Application, Power Utility Application, Residential Application), By Regions (Central Region, Southern Region, Eastern Region, Western Region) and competitive landscape
| Product Code: ETC160022 | Publication Date: Feb 2022 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 83 | No. of Figures: 21 | No. of Tables: 7 |
Saudi Arabia Solar Inverter market report comprehensively covers the Saudi Arabia Solar Inverter market by system types, types, power ratings, applications, and regions. Saudi Arabia Solar Inverter market report provides an unbiased and detailed analysis of the solar inverter market on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Saudi Arabia Solar Inverter Market Synopsis
Saudi Arabia Solar Inverter market witnessed decent growth before 2020 on account of various solar projects announced by the government. However, the market declined in 2020 due to the global pandemic which resulted in supply chain disruptions, thereby affecting the sales of solar inverter negatively. The spread of the COVID-19 pandemic has resulted in slowdown of the overall economy leading to the temporary halt in many ongoing solar projects across the region and there was no solar project announced by the government in 2020, thereby impacting the solar inverter market in Saudi Arabia. However, the introduction of renewable energy in Kingdom of Saudi Arabia enables it to be on track to diversify its economy by decreasing its dependence on oil and the market has regained momentum in 2021 and is expected to grow significantly in the coming years.
According to 6Wresearch, Saudi Arabia Solar Inverter Market size is projected to grow at a CAGR of 10.9% during 2022-2028. Based on system types, the On-Grid system type has garnered the major market revenue share in Saudi Arabiaโs solar inverter market owing to the rise in demand of these inverters as they are connected to the power grid due to which there is no requirement for batteries and the consumers could export the excess solar units to the power grid and the owner gets compensated for supplying the excess power.
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Market by Application Analysisย
By applications, the power utility application segment is expected to demonstrate significant growth over the coming years owing to the government initiative and resolution to increase the share of solar energy in the power utility segment. There are many upcoming solar projects which has been announced by the government such as Al Faisaliyah Solar PV, Sudair IC Solar PV which would drive the growth for solar inverters in the upcoming years in Power Utility segment.
Market by System Type Analysisย
By system type, on-grid systems accounted for a major share in the overall solar inverter market revenues in Saudi Arabia during 2021 and are expected to lead the market over the coming years as well owing to the rise in demand for these inverters as they do not need batteries, easy maintenance and are connected to the utility power grid which helps the consumers to export the excess solar units to the power grid.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2018 to 2021.
- Base Year: 2021
- Forecast Data until 2028.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Saudi Arabia Solar Inverter Market Overview
- Saudi Arabia Solar Inverter Market Outlook
- Saudi Arabia Solar Inverter Market Forecast
- Saudi Arabia Solar Inverter Market Growth
- Historical Data and Forecast of Saudi Arabia Solar Inverter Market Revenues for the Period 2018-2028F
- Historical Data and Forecast of Saudi Arabia Solar Inverter Market Revenues, By System Types for the Period 2018-2028F
- Historical Data and Forecast of Saudi Arabia Solar Inverter Market Revenues, By Types for the Period 2018-2028F
- Historical Data and Forecast of Saudi Arabia Solar Inverter Market Revenues, By Power Ratings for the Period 2018-2028F
- Historical Data and Forecast of Saudi Arabia Solar Inverter Market Revenues, By Applications for the Period 2018-2028F
- Historical Data and Forecast of Saudi Arabia Solar Inverter Market Revenues, By Regions for the Period 2018-2028F
- Market Drivers and Restraints
- Saudi Arabia Solar Inverter Market Trends
- Industry Life Cycle
- Saudi Arabia Solar Inverter Market โ Porterโs Five Forces
- Market Opportunity Assessment
- Saudi Arabia Solar Inverter Market Shares, By Company
- Market Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
- By System Types
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- Off-Grid System Type
- On-Grid System Type
- By Types
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- Central Solar Inverter
- String Solar Inverter
- Micro Solar Inverter
- By Power Ratings
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- Below 10 kW
- 1 kW- 100 kW
- 1 kW- 1 MW
- Above 1 MW
- By Applications
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- Commercial Application
- Power Utility Application
- Residential Application
- By Regions
- Central Region
- Southern Region
- Eastern Region
- Western Region
Saudi Arabia Solar Inverter Market: FAQs
The report not only has considered COVID-19 impact but also current market dynamics, trends and KPIs into consideration.
The Saudi Arabia Solar Inverter market revenue is anticipated to record a CAGR of 10.9% during 2022-28.
By Types, String Solar Inverter segment has dominated the market revenues owing to its rising use in commercial sector in Saudi Arabia.
By Application, Power Utility segment would record key growth throughout the forecast period 2022-28.
The key players of the market include- Fronius International Gmbh, Sungrow Power Supply Co., Ltd, SMA Solar Technology AG, Schneider Electric, ABB Ltd., Huawei Technologies Co. Ltd and Solar Arabia Co. Ltd.
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1. Executive Summary |
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2.ย Introduction |
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2.1 Report Description |
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2.2ย Key Highlights of the Report |
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2.3ย Market Scope & Segmentation |
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2.4ย Research Methodology |
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2.5ย Assumptions |
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3.ย Saudi Arabia Solar Inverter Market Overview |
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3.1 Saudi Arabia Solar Inverter Market Revenues, 2018-2028F |
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3.2 Saudi Arabia Solar Inverter Market-Industry Life Cycle |
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3.3 Saudi Arabia Solar Inverter Market-Porterโs Five Forces |
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3.4 Saudi Arabia Solar Inverter Market Revenue Share, By System Types, 2021 & 2028F |
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3.5 Saudi Arabia Solar Inverter Market Revenue Share, By Types, 2021 & 2028F |
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3.6ย Saudi Arabia Solar Inverter Market Revenue Share, By Power Ratings, 2021 & 2028F |
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3.7 Saudi Arabia Solar Inverter Market Revenue Share, By Applications, 2021 & 2028F |
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3.8ย Saudi Arabia Solar Inverter Market Revenue Share, By Regions, 2021 & 2028F |
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4. Impact Analysis of COVID-19 on Saudi Arabia Solar Inverter Market |
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5. Saudi Arabia Solar Inverter Market Dynamics |
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5.1 Impact Analysis |
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5.2 Market Drivers |
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5.3 Market Restraints |
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6. Saudi Arabia Solar Inverter Market Trends |
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7. Saudi Arabia Solar Inverter Market Overview, By System Types |
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7.1 Saudi Arabia Solar Inverter Market Revenues, By Off-Grid System Type, 2018-2028F |
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7.2 Saudi Arabia Solar Inverter Market Revenues, By On-Grid System Type, 2018-2028F |
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8. Saudi Arabia Solar Inverter Market Overview, By Types |
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8.1 Saudi Arabia Solar Inverter Market Revenues, By Central Solar Inverter, 2018-2028F |
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8.2 Saudi Arabia Solar Inverter Market Revenues, By String Solar Inverter, 2018-2028F |
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8.3 Saudi Arabia Solar Inverter Market Revenues, By Micro Solar Inverter, 2018-2028F |
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9. Saudi Arabia Solar Inverter Market Overview, By Power Ratings |
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9.1 Saudi Arabia Solar Inverter Market Revenues, By Below 10 kW, 2018-2028F |
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9.2 Saudi Arabia Solar Inverter Market Revenues, By 10.1 kW- 100 kW, 2018-2028F |
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9.3 Saudi Arabia Solar Inverter Market Revenues, By 100.1 kW- 1 MW, 2018-2028F |
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9.4 Saudi Arabia Solar Inverter Market Revenues, By Above 1 MW, 2018-2028F |
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10. Saudi Arabia Solar Inverter Market Overview, By Applications |
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10.1. Saudi Arabia Solar Inverter Market Revenues, By Commercial Application, 2018-2028F |
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10.2 Saudi Arabia Solar Inverter Market Revenues, By Power Utility Application, 2018-2028F |
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10.3 Saudi Arabia Solar Inverter Market Revenues, By Residential Application, 2018-2028F |
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11. Saudi Arabia Solar Inverter Market Overview, By Regions |
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11.1 Saudi Arabia Solar Inverter Market Revenues, By Central Region, 2018-2028F |
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11.2 Saudi Arabia Solar Inverter Market Revenues, By Southern Region, 2018-2028F |
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11.3 Saudi Arabia Solar Inverter Market Revenues, By Eastern Region, 2018-2028F |
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11.4 Saudi Arabia Solar Inverter Market Revenues, By Western Region, 2018-2028F |
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12. Saudi Arabia Solar Inverter Market Key Performance Indicators |
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13. Saudi Arabia Solar Inverter Market Opportunity Assessment |
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13.1 Saudi Arabia Solar Inverter Market, Opportunity Assessment, By System Types, 2028F |
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13.2 Saudi Arabia Solar Inverter Market, Opportunity Assessment, By Types, 2028F |
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13.3 Saudi Arabia Solar Inverter Market, Opportunity Assessment, By Power Ratings, 2028F |
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13.4 Saudi Arabia Solar Inverter Market, Opportunity Assessment, By Applications, 2028F |
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13.5 Saudi Arabia Solar Inverter Market, Opportunity Assessment, By Regions, 2028F |
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14. Saudi Arabia Solar Inverter Market Competitive Landscape |
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14.1 Saudi Arabia Solar Inverter Market Competitive Benchmarking, By Company Share |
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14.2 Saudi Arabia Solar Inverter Market Competitive Benchmarking, By Technical and Operating Parameters |
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15. Company Profiles |
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15.1 Fronius International Gmbh |
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15.2 Sungrow Power Supply Co., Ltd |
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15.3 SMA Solar Technology AG |
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15.4 Schneider Electric |
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15.5 ABB Ltd. |
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15.6 Huawei Technologies Co. Ltd |
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15.7 Solar Arabia Co. Ltd. |
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16. Key Strategic Recommendations |
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17. Disclaimer |
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List of Figures |
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Figure 1. Saudi Arabia Solar Inverter Market Revenues, 2018-2028F ($ Million) |
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Figure 2. Saudi Arabia Solar Inverter Market Revenue Share, By System Types, 2021 & 2028F |
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Figure 3. Saudi Arabia Solar Inverter Market Revenue Share, By Types, 2021 & 2028F |
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Figure 4. Saudi Arabia Solar Inverter Market Revenue Share, By Power Ratings, 2021 & 2028F |
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Figure 5. Saudi Arabia Solar Inverter Market Revenue Share, By Applications, 2021 & 2028F |
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Figure 6. Saudi Arabia Solar Inverter Market Revenue Share, By Regions, 2021 & 2028F |
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Figure 7. Saudi Arabia Power Generation Capacity Through Renewable Energy, 2020-2030F (% of Total Power Generation) |
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Figure 8. Saudi Arabia Solar Energy Capacity Growth, 2016-2020 (in MW) |
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Figure 9. Saudi Arabia Power Generation Capacity, 2018-2040F (in GW) |
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Figure 10. Saudi Arabia Solar Inverter Market Revenues, By Off-Grid System Type, 2018-2028F ($ Million) |
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Figure 11. Saudi Arabia Solar Inverter Market Revenues, By On-Grid System Type, 2018-2028F ($ Million) |
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Figure 12. Saudi Arabia Solar Inverter Market Revenues, By Commercial, 2018-2028F ($ Million) |
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Figure 13. Saudi Arabia Solar Inverter Market Revenues, By Power Utility, 2018-2028F ($ Million) |
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Figure 14. Saudi Arabia Solar Inverter Market Revenues, By Residential, 2018-2028F ($ Million) |
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Figure 15. Saudi Arabia Number of Upcoming Hotel Projects, 2021-24F |
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Figure 16. Saudi Arabia Solar Inverter Market Opportunity Assessment, By System Types, 2028F |
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Figure 17. Saudi Arabia Solar Inverter Market Opportunity Assessment, By Types, 2028F |
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Figure 18. Saudi Arabia Solar Inverter Market Opportunity Assessment, By Power Utility, 2028F |
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Figure 19. Saudi Arabia Solar Inverter Market Opportunity Assessment, By Applications 2028F |
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Figure 20. Saudi Arabia Solar Inverter Market Opportunity Assessment, By Regions, 2028F |
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Figure 21. Saudi Arabia Solar Inverter Market Revenue Share, By Companies, 2021 |
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List of Tables |
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Table 1. Major upcoming hotels under the Red Sea Project, 2022 |
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Table 2. Saudi Arabia Solar Inverter Market Revenues, By Types, 2018-2028F ($ Million) |
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Table 3. Saudi Arabia Solar Inverter Market Revenues, By Power Ratings, 2018-2028F ($ Million) |
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Table 4. Saudi Arabia Solar Inverter Market Revenues, By Regions, 2018-2028F ($ Million) |
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Table 5. Upcoming Infrastructure Development Projects |
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Table 6. Saudi Arabia Major Upcoming Hotels Under the Red Sea Project, 2022 |
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Table 7. Saudi Arabia Upcoming Solar Power Plant Projects |
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