Middle East & Africa Solar Energy Market Forecast to 2030 – Regional Analysis – by Technology (Photovoltaic Systems and Concentrated Solar Power Systems), Application (Electricity Generation, Heating, and Others), and End User (Residential, Commercial & Industrial, and Utility Scale)
The Middle East & Africa solar energy market is expected to grow from US$ 11,959.24 million in 2022 to US$ 23,755.36 million by 2030. It is estimated to grow at a CAGR of 9.0% from 2022 to 2030.
Growing Focus on Deploying Concentrated Solar Power Technology Fuels Middle East & Africa Solar Energy Market
Governments and organizations of major countries such as South Africa focus on investing in advanced technologies to enhance the operational efficiency of solar plants. Concentrated solar power (CSP) technologies leverage mirrors to reflect and concentrate daylight onto receivers that accumulate light energy and transform it into thermal energy or heat. The deployment of CSP systems is increasing globally due to the growing need for energy in different sectors and government concerns about environmental pollution. Further, the rise in the development of the renewable energy sector and favorable government initiatives toward using a sustainable approach to reduce carbon emissions are fueling the investment in CSP plants. A few CSP-based projects in South Africa are Bokpoort, Ilanga I, and Kathu Solar Park. Thus, the growing focus on deploying concentrated solar power technology in various equipment is expected to fuel the solar energy market growth in the coming years.
Middle East & Africa Solar Energy Market Overview
The Middle East & Africa (MEA) solar energy market is segmented into South Africa, Saudi Arabia, and the UAE. The oil & gas industry is the major stakeholder of energy production; however, with the shifting world scenario towards sustainability, renewables are increasing steadily across the Middle East & Africa. The increasing number of government initiatives and policies toward deploying renewables to meet the long-term climate change goals is another significant factor contributing to the growth of the solar energy market in the Middle East & Africa. Global inflation and rising energy prices impact positively the countries' renewable energy sector. Rise in conventional energy costs, supply chain constraints, and dependence on market conditions drive the necessity for solar-driven systems. In Saudi Arabia, heating, lighting, charging applications, and power generation predominantly account for a major share of buildings' overall electrical energy consumption. The prevailing share of heating, lighting, and charging applications in Saudi Arabia is due to the high ambient temperature that continues long during the summer. In addition, the rising focus on the renewable target set by the government of Saudi Arabia is positively impacting the solar energy market. The concentrated solar power is predominantly used in heating processes in Saudi Arabia. By 2030, Saudi Arabia aims to generate 50% of its electricity from renewables and another half from gas due to rising concerns toward climate change and targets of attaining net zero carbon emission, contributing to the growth of the solar energy market in Saudi Arabia.
Middle East & Africa Solar Energy Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa Solar Energy Market Segmentation
The Middle East & Africa solar energy market is segmented into technology, application, end user, and country.
Based on technology, the Middle East & Africa solar energy market is segmented into photovoltaic systems and concentrated solar power systems. The photovoltaic systems segment held a larger share of the Middle East & Africa solar energy market in 2022. The photovoltaic systems is further sub segmented into monocrystalline, polycrystalline, and others. The concentrated solar power systems is further sub segmented into linear concentrator, dish/engine, and power tower systems.
Based on application, the Middle East & Africa solar energy market is segmented into electricity generation, heating, and others. The electricity generation segment held the largest share of the Middle East & Africa solar energy market in 2022.
Based on end user, the Middle East & Africa solar energy market is segmented into residential, commercial & industrial, and utility scale. The utility scale segment held the largest share of the Middle East & Africa solar energy market in 2022.
Based on country, the Middle East & Africa solar energy market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Saudi Arabia dominated the Middle East & Africa solar energy market in 2022.
Abengoa SA, Acciona SA, Canadian Solar Inc, and Trina Solar Co Ltd are some of the leading companies operating in the Middle East & Africa solar energy market.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East & Africa Solar Energy Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Solar Energy Suppliers
5. Middle East & Africa Solar Energy Market - Key Industry Dynamics
5.1 Middle East & Africa Solar Energy Market - Key Industry Dynamics
5.2 Market Drivers
5.2.1 Growing Concerns Regarding Greenhouse Gas Emission and Energy Uncertainties
5.2.2 Rising Government Initiatives for Solar Power
5.2.3 Growing Demand for Energy
5.2.4 Growing Photovoltaic Applications in Residential, Commercial, and Industrial Sectors
5.3 Market Restraints
5.3.1 Irregular Power Supply and Expensive Storage Facilities
5.3.2 High Initial Expenditure for Installation
5.4 Market Opportunities
5.4.1 Application of Solar Power in Aerospace, Space, and Defense Industries
5.5 Future Trends
5.5.1 Growing Focus on Deploying Concentrated Solar Power Technology
5.6 Impact of Drivers and Restraints:
6. Solar Energy Market - Middle East & Africa Market Analysis
6.1 Middle East & Africa Solar Energy Market Revenue (US$ Million), 2022 – 2030
6.2 Middle East & Africa Solar Energy Market Forecast and Analysis
7. Middle East & Africa Solar Energy Market Analysis - Technology
7.1 Photovoltaic Systems
7.1.1 Overview
7.1.2 Photovoltaic Systems: Middle East & Africa Solar Energy Market, Revenue and Forecast to 2030 (US$ Million)
7.1.3 Monocrystalline
7.1.3.1 Overview
7.1.3.2 Monocrystalline: Middle East & Africa Solar Energy Market, Revenue and Forecast to 2030 (US$ Million)
7.1.4 Polycrystalline
7.1.4.1 Overview
7.1.4.2 Polycrystalline: Middle East & Africa Solar Energy Market, Revenue and Forecast to 2030 (US$ Million)
7.1.5 Others
7.1.5.1 Overview
7.1.5.2 Others: Middle East & Africa Solar Energy Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Concentrated Solar Power Systems
7.2.1 Overview
7.2.2 Concentrated Solar Power Systems: Middle East & Africa Solar Energy Market, Revenue and Forecast to 2030 (US$ Million)
7.2.3 Linear Concentrator
7.2.3.1 Overview
7.2.3.2 Linear Concentrator: Middle East & Africa Solar Energy Market, Revenue and Forecast to 2030 (US$ Million)
7.2.4 Dish/Engine
7.2.4.1 Overview
7.2.4.2 Dish/Engine: Middle East & Africa Solar Energy Market, Revenue and Forecast to 2030 (US$ Million)
7.2.5 Power Tower Systems
7.2.5.1 Overview
7.2.5.2 Power Tower Systems: Middle East & Africa Solar Energy Market Revenue and Forecast to 2030 (US$ Million)
8. Middle East & Africa Solar Energy Market Analysis – Application
8.1 Electricity Generation
8.1.1 Overview
8.1.2 Electricity Generation: Middle East & Africa Solar Energy Market, Revenue and Forecast to 2030 (US$ Million)
8.2 Heating
8.2.1 Overview
8.2.2 Heating: Middle East & Africa Solar Energy Market, Revenue and Forecast to 2030 (US$ Million)
8.3 Others
8.3.1 Overview
8.3.2 Others: Middle East & Africa Solar Energy Market Revenue, and Forecast to 2030 (US$ Million)
9. Middle East & Africa Solar Energy Market Analysis – End User
9.1 Residential
9.1.1 Overview
9.1.2 Residential: Middle East & Africa Solar Energy Market, Revenue and Forecast to 2030 (US$ Million)
9.2 Commercial & Industrial
9.2.1 Overview
9.2.2 Commercial & Industrial: Middle East & Africa Solar Energy Market, Revenue and Forecast to 2030 (US$ Million)
9.3 Utility Scale
9.3.1 Overview
9.3.2 Utility Scale: Middle East & Africa Solar Energy Market, Revenue and Forecast to 2030 (US$ Million)
10. Middle East & Africa Solar Energy Market - Country Analysis
10.1.1 Middle East & Africa Solar Energy Market Revenue and Forecasts and Analysis - By Country
10.1.1.1 Middle East & Africa Solar Energy Market Revenue and Forecasts and Analysis - By Country
10.1.1.2 South Africa: Middle East & Africa Solar Energy Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.2.1 South Africa: Middle East & Africa Solar Energy Market Breakdown by Technology
10.1.1.2.1.1 South Africa: Middle East & Africa Solar Energy Market Breakdown by Photovoltaic Systems
10.1.1.2.1.2 South Africa: Middle East & Africa Solar Energy Market Breakdown by Concentrated Solar Power Systems
10.1.1.2.2 South Africa: Middle East & Africa Solar Energy Market Breakdown by Application
10.1.1.2.3 South Africa: Middle East & Africa Solar Energy Market Breakdown by End User
10.1.1.3 Saudi Arabia: Middle East & Africa Solar Energy Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.3.1 Saudi Arabia: Middle East & Africa Solar Energy Market Breakdown by Technology
10.1.1.3.1.1 Saudi Arabia: Middle East & Africa Solar Energy Market Breakdown by Photovoltaic Systems
10.1.1.3.1.2 Saudi Arabia: Middle East & Africa Solar Energy Market Breakdown by Concentrated Solar Power Systems
10.1.1.3.2 Saudi Arabia: Middle East & Africa Solar Energy Market Breakdown by Application
10.1.1.3.3 Saudi Arabia: Middle East & Africa Solar Energy Market Breakdown by End User
10.1.1.4 UAE: Middle East & Africa Solar Energy Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.4.1 UAE: Middle East & Africa Solar Energy Market Breakdown by Technology
10.1.1.4.1.1 UAE: Middle East & Africa Solar Energy Market Breakdown by Photovoltaic Systems
10.1.1.4.1.2 UAE: Middle East & Africa Solar Energy Market Breakdown by Concentrated Solar Power Systems
10.1.1.4.2 UAE: Middle East & Africa Solar Energy Market Breakdown by Application
10.1.1.4.3 UAE: Middle East & Africa Solar Energy Market Breakdown by End User
10.1.1.5 Rest of MEA: Middle East & Africa Solar Energy Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.5.1 Rest of MEA: Middle East & Africa Solar Energy Market Breakdown by Technology
10.1.1.5.1.1 Rest of MEA: Middle East & Africa Solar Energy Market Breakdown by Photovoltaic Systems
10.1.1.5.2 Rest of MEA: Middle East & Africa Solar Energy Market Breakdown by Application
10.1.1.5.3 Rest of MEA: Middle East & Africa Solar Energy Market Breakdown by End User
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 Acciona SA
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Abengoa SA
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Trina Solar Co Ltd
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Canadian Solar Inc
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
List of Tables
Table 1. Middle East & Africa Solar Energy Market Segmentation
Table 2. List of Vendors in the Value Chain
Table 3. Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million)
Table 4. Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million) – Technology
Table 5. Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million) – Photovoltaic
Table 6. Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million) – Concentrated Solar Power
Table 7. Upcoming CSP Solar Projects
Table 8. Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million) – Application
Table 9. Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million) – End User
Table 10. Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 11. South Africa: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 12. South Africa: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By Photovoltaic Systems
Table 13. South Africa: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By Concentrated Solar Power Systems
Table 14. South Africa: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 15. South Africa: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 16. Saudi Arabia: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 17. Saudi Arabia: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By Photovoltaic Systems
Table 18. Saudi Arabia: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By Concentrated Solar Power Systems
Table 19. Saudi Arabia: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 20. Saudi Arabia: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 21. UAE: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 22. UAE: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By Photovoltaic Systems
Table 23. UAE: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By Concentrated Solar Power Systems
Table 24. UAE: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 25. UAE: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 26. Rest of MEA: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 27. Rest of MEA: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By Photovoltaic Systems
Table 28. Rest of MEA: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 29. Rest of MEA: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 30. List of Abbreviation
List of Figures
Figure 1. Middle East & Africa Solar Energy Market Segmentation, By Country
Figure 2. PEST Analysis
Figure 3. Ecosystem: Middle East & Africa Solar Energy Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Middle East & Africa Solar Energy Market Revenue (US$ Million), 2022 – 2030
Figure 6. Middle East & Africa Solar Energy Market Share (%) – Technology, 2022 and 2030
Figure 7. Photovoltaic Systems: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million)
Figure 8. Monocrystalline: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. Polycrystalline: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Others: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Concentrated Solar Power Systems: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Linear Concentrator: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Dish/Engine: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Power Tower Systems: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. Middle East & Africa Solar Energy Market Share (%) – Application, 2022 and 2030
Figure 16. Electricity Generation: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Heating: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. Others: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million)
Figure 19. Middle East & Africa Solar Energy Market Share (%) – End User, 2022 and 2030
Figure 20. Residential: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million)
Figure 21. Commercial & Industrial: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million)
Figure 22. Utility Scale: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Million)
Figure 23. Middle East & Africa Solar Energy Market, By Key Country – Revenue (2022) (US$ Million)
Figure 24. Middle East & Africa Solar Energy Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 25. South Africa: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 26. Saudi Arabia: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 27. UAE: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 28. Rest of MEA: Middle East & Africa Solar Energy Market Revenue and Forecasts To 2030 (US$ Mn)
- Abengoa SA
- Acciona SA
- Canadian Solar Inc
- Trina Solar Co Ltd
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Middle East & Africa Solar Energy Market.
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