Saudi Arabia Solar Inverter Market Outlook (2022-2028) | Size, Share & 6wresearch

0
611

Saudi Arabia Solar Inverter Market Overview

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, Solar Inverter Market in Saudi Arabia 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 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 Highlights of the Report

  • Saudi Arabia Solar Inverter Market Overview
  • Saudi Arabia Solar Inverter Market Outlook
  • Saudi Arabia Solar Inverter Market Trends
  • Saudi Arabia Solar Inverter Market Forecast
  • Market Competitive Benchmarking
  • Company Profiles
  • Saudi Arabia Solar Inverter Market Growth
  • Market Drivers and Restraints
  • Key Strategic Recommendations
  • Industry Life Cycle
  • Market Opportunity Assessment
  • Saudi Arabia Solar Inverter Market Shares, By Company
  • Saudi Arabia Solar Inverter Market – Porter’s Five Forces

About Us-

6Wresearch is the premier, one-stop market intelligence and advisory center, known for its best-in-class business research and consulting activity. We provide industry research reports and consulting services across different industries and geographies which provide industry players an in-depth coverage and help them in decision-making before investing or entering into a particular geography.

Contact Us: Phone: +911143024305 | Email Id: sales@6wresearch.com

Rechercher
Catégories
Lire la suite
Autre
Iptv Services UK
Explore IPTVFlic for premium IPTV services in Germany, UK, USA, and beyond. Buy IPTV packages,...
Par Andrew Rihana 2024-02-22 12:59:18 0 241
Health
Pioneering Surrogacy Treatment in Chennai
Introduction: Surrogacy treatment in Chennai has become a ray of hope for couples struggling with...
Par Firm Hospitals 2023-06-06 10:14:05 0 644
Domicile
Essential Guide to Wasp Nest Removal Belfast: Services, Costs, and Safe Solutions
  Wasps can be a significant nuisance, especially during the warmer months....
Par NI Pest Control Proofing 2024-10-29 02:40:14 0 25
Health
Mehmet Oz Keto Diet Gummies : Trick Uncovered Of Con artists Read This Article Before Purchase
➲ Product Review:  —> Mehmet Oz Keto Diet Gummies ➲ Used For:  —> Healthy...
Par KetoGummies ForPain 2023-12-26 06:53:20 0 273
Art
Reliable DBS-C01 Test Dumps - Amazon DBS-C01 Valid Cram Materials
With experienced experts to compile and verify, DBS-C01 learning materials are high quality,...
Par Ddw1okqg Ddw1okqg 2022-12-07 07:16:15 0 671