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.

Saudi Arabia Solar Inverter Market Outlook (2022-2028)
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 Arabia’s 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.

Saudi Arabia Solar Inverter Market Outlook (2022-2028)

 

Market by Application Analysis 

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.

Saudi Arabia Solar Inverter Market Outlook (2022-2028)

Market by System Type Analysis 

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 – Porter’s 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
    • 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
    • 1 kW- 100 kW
    • 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
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

2. Introduction

2.1 Report Description

2.2 Key Highlights of the Report

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3. Saudi Arabia Solar Inverter Market Overview

3.1 Saudi Arabia Solar Inverter Market Revenues, 2018-2028F

3.2 Saudi Arabia Solar Inverter Market-Industry Life Cycle

3.3 Saudi Arabia Solar Inverter Market-Porter’s Five Forces

3.4 Saudi Arabia Solar Inverter Market Revenue Share, By System Types, 2021 & 2028F

3.5 Saudi Arabia Solar Inverter Market Revenue Share, By Types, 2021 & 2028F

3.6 Saudi Arabia Solar Inverter Market Revenue Share, By Power Ratings, 2021 & 2028F

3.7 Saudi Arabia Solar Inverter Market Revenue Share, By Applications, 2021 & 2028F

3.8 Saudi Arabia Solar Inverter Market Revenue Share, By Regions, 2021 & 2028F

4. Impact Analysis of COVID-19 on Saudi Arabia Solar Inverter Market

5. Saudi Arabia Solar Inverter Market Dynamics

5.1 Impact Analysis

5.2 Market Drivers

5.3 Market Restraints

6. Saudi Arabia Solar Inverter Market Trends

7. Saudi Arabia Solar Inverter Market Overview, By System Types

7.1 Saudi Arabia Solar Inverter Market Revenues, By Off-Grid System Type, 2018-2028F

7.2 Saudi Arabia Solar Inverter Market Revenues, By On-Grid System Type, 2018-2028F

8. Saudi Arabia Solar Inverter Market Overview, By Types

8.1 Saudi Arabia Solar Inverter Market Revenues, By Central Solar Inverter, 2018-2028F

8.2 Saudi Arabia Solar Inverter Market Revenues, By String Solar Inverter, 2018-2028F

8.3 Saudi Arabia Solar Inverter Market Revenues, By Micro Solar Inverter, 2018-2028F

9. Saudi Arabia Solar Inverter Market Overview, By Power Ratings

9.1 Saudi Arabia Solar Inverter Market Revenues, By Below 10 kW, 2018-2028F

9.2 Saudi Arabia Solar Inverter Market Revenues, By 10.1 kW- 100 kW, 2018-2028F

9.3 Saudi Arabia Solar Inverter Market Revenues, By 100.1 kW- 1 MW, 2018-2028F

9.4 Saudi Arabia Solar Inverter Market Revenues, By Above 1 MW, 2018-2028F

10. Saudi Arabia Solar Inverter Market Overview, By Applications

10.1. Saudi Arabia Solar Inverter Market Revenues, By Commercial Application, 2018-2028F

10.2 Saudi Arabia Solar Inverter Market Revenues, By Power Utility Application, 2018-2028F

10.3 Saudi Arabia Solar Inverter Market Revenues, By Residential Application, 2018-2028F

11. Saudi Arabia Solar Inverter Market Overview, By Regions

11.1 Saudi Arabia Solar Inverter Market Revenues, By Central Region, 2018-2028F

11.2 Saudi Arabia Solar Inverter Market Revenues, By Southern Region, 2018-2028F

11.3 Saudi Arabia Solar Inverter Market Revenues, By Eastern Region, 2018-2028F

11.4 Saudi Arabia Solar Inverter Market Revenues, By Western Region, 2018-2028F

12. Saudi Arabia Solar Inverter Market Key Performance Indicators

13. Saudi Arabia Solar Inverter Market Opportunity Assessment

13.1 Saudi Arabia Solar Inverter Market, Opportunity Assessment, By System Types, 2028F

13.2 Saudi Arabia Solar Inverter Market, Opportunity Assessment, By Types, 2028F

13.3 Saudi Arabia Solar Inverter Market, Opportunity Assessment, By Power Ratings, 2028F

13.4 Saudi Arabia Solar Inverter Market, Opportunity Assessment, By Applications, 2028F

13.5 Saudi Arabia Solar Inverter Market, Opportunity Assessment, By Regions, 2028F

14. Saudi Arabia Solar Inverter Market Competitive Landscape

14.1 Saudi Arabia Solar Inverter Market Competitive Benchmarking, By Company Share

14.2 Saudi Arabia Solar Inverter Market Competitive Benchmarking, By Technical and Operating Parameters

15. Company Profiles

15.1 Fronius International Gmbh

15.2 Sungrow Power Supply Co., Ltd

15.3 SMA Solar Technology AG

15.4 Schneider Electric

15.5 ABB Ltd.

15.6 Huawei Technologies Co. Ltd

15.7 Solar Arabia Co. Ltd.

16. Key Strategic Recommendations

17. Disclaimer

List of Figures

Figure 1. Saudi Arabia Solar Inverter Market Revenues, 2018-2028F ($ Million)

Figure 2. Saudi Arabia Solar Inverter Market Revenue Share, By System Types, 2021 & 2028F

Figure 3. Saudi Arabia Solar Inverter Market Revenue Share, By Types, 2021 & 2028F

Figure 4. Saudi Arabia Solar Inverter Market Revenue Share, By Power Ratings, 2021 & 2028F

Figure 5. Saudi Arabia Solar Inverter Market Revenue Share, By Applications, 2021 & 2028F

Figure 6. Saudi Arabia Solar Inverter Market Revenue Share, By Regions, 2021 & 2028F

Figure 7. Saudi Arabia Power Generation Capacity Through Renewable Energy, 2020-2030F (% of Total Power Generation)

Figure 8. Saudi Arabia Solar Energy Capacity Growth, 2016-2020 (in MW)

Figure 9. Saudi Arabia Power Generation Capacity, 2018-2040F (in GW)

Figure 10. Saudi Arabia Solar Inverter Market Revenues, By Off-Grid System Type, 2018-2028F ($ Million)

Figure 11. Saudi Arabia Solar Inverter Market Revenues, By On-Grid System Type, 2018-2028F ($ Million)

Figure 12. Saudi Arabia Solar Inverter Market Revenues, By Commercial, 2018-2028F ($ Million)

Figure 13. Saudi Arabia Solar Inverter Market Revenues, By Power Utility, 2018-2028F ($ Million)

Figure 14. Saudi Arabia Solar Inverter Market Revenues, By Residential, 2018-2028F ($ Million)

Figure 15. Saudi Arabia Number of Upcoming Hotel Projects, 2021-24F

Figure 16. Saudi Arabia Solar Inverter Market Opportunity Assessment, By System Types, 2028F

Figure 17. Saudi Arabia Solar Inverter Market Opportunity Assessment, By Types, 2028F

Figure 18. Saudi Arabia Solar Inverter Market Opportunity Assessment, By Power Utility, 2028F

Figure 19. Saudi Arabia Solar Inverter Market Opportunity Assessment, By Applications 2028F

Figure 20. Saudi Arabia Solar Inverter Market Opportunity Assessment, By Regions, 2028F

Figure 21. Saudi Arabia Solar Inverter Market Revenue Share, By Companies, 2021

List of Tables

Table 1. Major upcoming hotels under the Red Sea Project, 2022

Table 2. Saudi Arabia Solar Inverter Market Revenues, By Types, 2018-2028F ($ Million)

Table 3. Saudi Arabia Solar Inverter Market Revenues, By Power Ratings, 2018-2028F ($ Million)

Table 4. Saudi Arabia Solar Inverter Market Revenues, By Regions, 2018-2028F ($ Million)

Table 5. Upcoming Infrastructure Development Projects

Table 6. Saudi Arabia Major Upcoming Hotels Under the Red Sea Project, 2022

Table 7. Saudi Arabia Upcoming Solar Power Plant Projects

 

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