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Saudi Arabia Solar Inverter Market, By System Types, By Power Ratings, By Regions and Forecast 2028
13-Jul-2022 | Navi Mumbai | News-Press Release
Market Reports on Saudi Arabia Provides the Trending Market Research Report on "Saudi Arabia Solar Inverter Market Outlook (2022-2028): 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" under Energy Market Research Reports category. The Solar Inverter Market Database in Saudi Arabia is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
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 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.
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.
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
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
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
Power Utility Application
Browse our full report with Table of Contents:
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