Saudi Arabia Renewable Energy Market

Saudi Arabia Renewable Energy Market by Type (Solar, Wind, and Others [Hydro, Biomass, etc.]) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028.

  • Report ID: EP-1527
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 151
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Saudi Arabia renewable energy market size is estimated to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to increasing electricity demand which is trimming the country’s oil export and export earnings, and to reduce the consumption of oil in the power generation.


Saudi Arabia Renewable Energy Market Key Takeaways

The electricity generation from renewable sources in the past was negligible but is estimated to play a crucial role to meet the rising demand and diversification of electricity generation. The government is planning to increase electricity generation from renewable sources to 3.45 GW by 2020 and 9.5 GW by 2023.

The power demand in the region is also growing at a considerable rate. In order to reduce the consumption of oil and meet the growing power demands simultaneously, increase the share of renewable, the power industry in Saudi Arabia is projected to attract significant reforms and in turn large investments. Hence, to reduce the over-dependence on hydrocarbons for power production, the focus is for renewable, supported by nuclear energy, to meet the future demand for power, which is further estimated to proclaim the renewable energy market in Saudi Arabia.

The Covid-19 pandemic had an unpleasant impact on Saudi Arabia renewable energy market due to halt in production renewable power plants; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.

Market Trends, Drivers, Restraints, and Opportunities

  • The privatization of the power industry has allowed the foreign companies, particularly from Europe and China to establish the solar power plants, thereby, creating abundant opportunities for the market players.
  • Solar power as a renewable energy is projected to be the foremost segment, due to regulations and targets derived by Saudi Arabia government for increasing the renewable energy share by installing 40 GW of solar PV by 2030.    
  • Saudi Arabia aimed in installing and developing 58.7 GW of clean power sources during the next ten years, which is anticipated to increase the demand in coming years.
  • sizable subsidies that the government offers to their citizens takes away the profit margin for renewable developers which is projected to impede the market growth
  • Increasing crude oil production in Saudi Arabia is estimated to hinder the market growth in coming years.
  • R&D investment and technological advancement in Saudi Arabia renewable energy market are expected to offer lucrative opportunities for the market players.

Scope of the Report

The report on the Saudi Arabia renewable energy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Renewable Energy Market - Saudi Arabia Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Type (Solar, Wind, and Others (Hydro, Biomass, etc.))

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

ACWA Power, Alfanar Group, Abu Dhabi Future Energy Company (Masdar), Electricite de France S.A and Engia SA

Market Segment insights

The solar segment is projected to constitute a large market share

Based on type, the Saudi Arabia renewable energy market is segregated into solar, wind, and others. It is further divided into hydro, biomass etc. The solar segment is expected to account for a key share of the market during the forecast period owing to increased investment and upcoming projects for solar PV in Saudi Arabia. Saudi Arabia government aims to reduce the heavy reliance of oil in power generation and produce one-third of the nation’s electricity from solar energy, thereby amounting for the highest share in 2019 amongst other renewable energy types. Moreover, a new renewable target of installing and developing 58.7 GW of clean power sources over the next decade. The 2030 target will involve the development of 40 GW of photovoltaic (PV) solar capacity and 2.7 GW of concentrated solar power (CSP) capacity. Additionally, Saudi Arabia started the third round of its renewable energy programme, which is to add a total of 1.2 gigawatt of solar photovoltaic power capacity to the grid, and open bidding for six solar energy projects with a combined capacity of 1.2 GW.


Saudi Arabia Renewable Energy Market By Types

Segments

Segments Covered in the Report
The Saudi Arabia renewable energy market has been segmented on the basis of:-

Type
  • Solar
  • Wind
  • Others
    • Hydro
    • Biomass
Key Companies
  • ACWA Power
  • Alfanar Group
  • Abu Dhabi Future Energy Company (Masdar)
  • Electricite de France S.A
  • Engia SA

Competitive Landscape

Key players competing in the Saudi Arabia renewable energy market include ACWA Power, Alfanar Group, Abu Dhabi Future Energy Company (Masdar), Electricite de France S.A and Engia SA.

Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.

Saudi Arabia Renewable Energy Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Renewable Energy Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Renewable Energy Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Renewable Energy Market - Supply Chain
  4.5. Global Renewable Energy Market Forecast
     4.5.1. Renewable Energy Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Renewable Energy Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Renewable Energy Market Absolute $ Opportunity
5. Global Renewable Energy Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Renewable Energy Market Size and Volume Forecast by Types
     5.3.1. Solar Wind Others  
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Renewable Energy Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Renewable Energy Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Renewable Energy Demand Share Forecast, 2019-2026
7. North America Renewable Energy Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Renewable Energy Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Renewable Energy Market Size and Volume Forecast by Types
     7.4.1. Solar Wind Others  
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Renewable Energy Demand Share Forecast, 2019-2026
8. Latin America Renewable Energy Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Renewable Energy Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Renewable Energy Market Size and Volume Forecast by Types
     8.4.1. Solar Wind Others  
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Renewable Energy Demand Share Forecast, 2019-2026
9. Europe Renewable Energy Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Renewable Energy Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Renewable Energy Market Size and Volume Forecast by Types
     9.4.1. Solar Wind Others  
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Renewable Energy Demand Share Forecast, 2019-2026
10. Asia Pacific Renewable Energy Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Renewable Energy Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Renewable Energy Market Size and Volume Forecast by Types
     10.4.1. Solar Wind Others  
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Renewable Energy Demand Share Forecast, 2019-2026
11. Middle East & Africa Renewable Energy Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Renewable Energy Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Renewable Energy Market Size and Volume Forecast by Types
     11.4.1. Solar Wind Others  
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Renewable Energy Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Renewable Energy Market: Market Share Analysis
  12.2. Renewable Energy Distributors and Customers
  12.3. Renewable Energy Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. ACWA Power
     12.4.2. Alfanar Group
     12.4.3. Abu Dhabi Future Energy Company (Masdar)
     12.4.4. Electricite de France S.A
     12.4.5. Engia SA
Segments Covered in the Report
The Saudi Arabia renewable energy market has been segmented on the basis of:-

Type
  • Solar
  • Wind
  • Others
    • Hydro
    • Biomass
Key Companies
  • ACWA Power
  • Alfanar Group
  • Abu Dhabi Future Energy Company (Masdar)
  • Electricite de France S.A
  • Engia SA

Key players competing in the Saudi Arabia renewable energy market include ACWA Power, Alfanar Group, Abu Dhabi Future Energy Company (Masdar), Electricite de France S.A and Engia SA.

Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.

Saudi Arabia Renewable Energy Market By Key Players

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