The Saudi Arabia renewable energy market size was valued at 2.09 Gigawatt in 2024. Looking forward, IMARC Group estimates the market to reach 40.42 Gigawatt by 2033, exhibiting a CAGR of 35.07% from 2025-2033. The region’s favorable geography including abundant sunlight and strong winds, supports large-scale solar and wind projects. Besides this, Saudi Arabia renewable energy market share is driven by increasing engagement of private sector through investments and technological innovations. Government initiatives, such as Vision 2030, provide regulatory support and financing for renewable energy development.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	2.09 Gigawatt
Market Forecast in 2033	40.42 Gigawatt
Market Growth Rate (2025-2033)	35.07%

IMARC Group provides an analysis of the key trends in each segment of the Saudi Arabia renewable energy market, along with forecasts at the country and regional levels from 2025-2033. The market has been categorized based on type.

Saudi Arabia Renewable Energy Market Report is Segmented by Type (Solar, Wind, and Other Types [Hydro, Biomass, Etc. ]). The Report Offers Installed Capacity and Forecasts in Megawatts (GW) for all the Above Segments.

The Saudi Arabia Solar Power Market is Segmented by Type (Solar Photovoltaic (PV) and Concentrated Solar Energy (CSP)). The report offers the market size and forecasts for Saudi Arabia's solar energy in installed capacity (MW) for all the above segments.

Saudi Arabia's Renewable Energy Market is categorized into three primary segments: solar energy, wind energy, and other renewable energy sources. Solar Energy: The dominant segment, driven by abundant sunshine and government incentives. Wind Energy: Rapidly growing segment with vast wind resources, particularly in the north and west. Other Renewable Energy Sources: This segment includes emerging technologies such as biomass, geothermal, and hydrogen, with potential for future growth. Recent developments include: February 2022:GADING Kencana Sdn Bhd, one of the largest solar farm operators in Malaysia, signed a MoU with March Global LLC of Saudi Arabia to collaborate in developing solar farms in the MEA and the ASEAN region. The first collaborative effort between them is to create a solar farm in Khulais, Saudi Arabia, with a capacity of 100 MW., January 2021:ACWA Power agreed to a USD 125 million corporate facility to support its future growth pipeline of renewable energy projects. ACWA Power has had this facility for five years under a newly signed deal with APICORP (The Arab Petroleum Investments Corporation). . Notable trends are: Growing environmental concerns are driving the market growth.

Discover the KSA Renewable Energy Market size, share, revenue, insights, top players, and future outlook. Explore key trends and growth opportunities until 2028.

Saudi Arabia Solar Energy Market was valued at USD 2.8 Billion in 2024 and is projected to reach USD 7.4 Billion by 2032, growing at a CAGR of 12.8% during the forecast period from 2025-2032.

In Saudi Arabia, solar energy is defined as the use of solar panels and other photovoltaic technologies to harness the power of the Sun and generate electricity. The country receives plenty of sunlight and has significant amounts of solar radiation, making it a perfect location for solar energy projects. Saudi Arabia has extensive desert areas and is focusing more on renewable energy as part of its Vision 2030 strategy to diversify its energy sources beyond oil. Solar energy is seen as a critical alternative for sustainable energy generation. Solar energy is employed in a variety of fields, including residential, commercial, and industrial applications. It also plays an important role in large-scale power plants and off-grid solutions, particularly in isolated locations.

The Renewable Energy Companies in Middle East is Segmented by Type (Hydro, Solar, Wind, Other Types) and Geography (United Arab Emirates (UAE), Saudi Arabia, Oman, Iran, Israel, Jordon, Rest of Middle East). The report offers the market size and forecasts in terms of capacity in gigawatts for all the above segments

Explore the Saudi Arabia Solar Energy Market, valued at USD 6 billion in 2024 and projected to reach USD 49 billion by 2030, growing at a 42% CAGR.

The size of the Middle East Renewable Energy Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 13.43% during the forecast period. This fast growth in the renewable energy market, particularly in the Middle East region, is attributed to a blend of resource abundance, government initiatives, and commitment to sustainability. The fossil-based sources of energy were once the focus of the countries involved in this region. Nowadays, they slowly start to realize that diversification of their portfolios of energy will serve the imperative of having security in energy supplies and curb climate change factors. The Middle East is well-positioned to be an energy source for generating investment opportunities and innovation in renewable energy due to the availability of ample solar and wind resources. This is where the UAE and Saudi Arabia are at the forefront of the trend. They have ambitious targets set for renewable energy, and the investment in large-scale solar and wind projects will be massive. The examples for the growth trend include Mohammad Bin Rashid Al Maktoum Solar Park in the UAE and the NEOM project in Saudi Arabia. Supportive government policies, feed-in tariffs, and tax incentives are encouraging investment from both domestic and foreign investors in the renewable sector. However, the market outlook remains optimistic as there are many challenges such as infrastructure development and regulatory frameworks. The Middle East renewable energy market is destined for growth in terms of meeting regionally the challenges to be sustainable in terms of energy needs and reducing carbon footprints. This shift will be in line with global sustainability goals and contribute to the economic diversification efforts in the region. Recent developments include: July 2022: The fourth phase of Mohammed bin Rashid Solar Park was announced to be implemented by Noor Energy 1 PSC, which contains 0.7 GW CSP and 0.25 GW PV, including Parabolic Trough CSP plants of 0.6 GW ( 0.2 GW for each unit) & Molten Salt Tower CSP Plant of 0.1 GW. This project is expected to drive the cleanliness of Dubai to extend the clean energy share to 25% by 2030., February 2022: Energy China Hunal Thermal Power & China Machinery Engineering Corporation formally signed a subcontract for the Al Dhafra PV2 Solar Power Plant Project in UAE with an installed capacity of 2.1 GW. The project is expected to lower carbon emissions by more than 2.4 million metric tons per year in Abu Dhabi.. Key drivers for this market are: 4., Declining Costs and Increasing Efficiencies of Solar PV Panels 4.; Supportive Government Policies Towards Solar. Potential restraints include: 4., Increasing Adoption of Alternative Clean Energy Sources and Increasing Natural Gas Consumption. Notable trends are: Solar Energy Segment to Witness Significant Growth.

"Solar PV in Saudi Arabia, Market Outlook to 2025, Update 2014 – Capacity, Generation, Levelized Cost of Energy, Equipment Market, Regulations and Company Profiles” is the latest report from GlobalData, the industry analysis specialists that offer comprehensive information and understanding of the solar PV market in Saudi Arabia. The report provides an in-depth analysis on global renewable power market and global solar PV market with forecasts up to 2025. The report analyzes the power market scenario in South Africa (includes conventional thermal, hydro and renewable energy sources) and provides future outlook with forecasts up to 2025. The research details renewable power market outlook in the country (includes wind, small hydro, biopower and solar PV) and provides forecasts up to 2025. The report highlights installed capacity and power generation trends from 2001 to 2025 in South Africa solar PV market. The research provides data related to investments and levelized cost of energy (LCOE) for solar PV in South Africa during 2013–2025. The report also provides information on the amount of carbon saved and average number of homes powered by solar PV during 2006–2025. A detailed coverage of renewable energy policy framework governing the market with specific policies pertaining to solar PV market development is provided in the report. The research also provides company snapshots of some of the major market participants. The report is built using data and information sourced from proprietary databases, secondary research and in-house analysis by GlobalData’s team of industry experts. Read More

The Saudi Arabia Power Generation Market is segmented by Power Generation (Thermal and Renewables) and Power Transmission and Distribution (T&D). The report offers the market size and forecasts in installed capacity (gigawatts) for all the above segments except power transmission and distribution.

"Saudi Arabia Wind Power Analysis – Market Outlook to 2030, Update 2021” is the latest report from GlobalData, the industry analysis specialists that offer comprehensive information and understanding of the wind power market in Saudi Arabia. The research details renewable power market outlook in Saudi Arabia (includes solar thermal, wind, biopower and solar power) and provides forecasts up to 2030. The report highlights installed capacity and power generation trends from 2010 to 2030 in Saudi Arabia’s wind power market. A detailed coverage of renewable energy policy framework governing the market with specific policies pertaining to wind power is provided in the report. The research also provides company snapshots of some of the major market participants. The report is built using data and information sourced from proprietary databases, secondary research, and in-house analysis by GlobalData’s team of industry experts. Read More

Engie is strategically expanding its renewable energy projects in the Middle East, targeting significant opportunities in Saudi Arabia and the UAE, amidst a regional shift towards sustainable energy solutions.

By Component:The KSA EMS market is segmented by component into hardware, software, and services. Recently, software has dominated the market share under the component segmentation due to the increasing reliance on cloud-based and AI-driven platforms for real-time energy monitoring and optimization. This dominance is driven by the need for data analytics, remote access, and automation capabilities, which provide flexibility and enhance energy efficiency in diverse sectors, including industrial and commercial settings. KSA Energy Management System Market Segmentation Saudi Arabia has emerged as a leader in public-private partnership (PPP) activity in the Middle East and North Africa (MENA) region, particularly in the fourth quarter of 2023. The Kingdom is actively pursuing significant investments across various sectors, notably in airport expansion, renewable energy, and water projects. A key component of this initiative is Saudi Arabia's new civil aviation strategy, which aims to attract investments totaling $100 billion from both public and private sectors by 2030.

The size of the Saudi Arabia Power EPC Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 7.50">> 7.50% during the forecast period. The sector that can be deemed as the most important for the EPC in Saudi Arabia's energy infrastructure - power - includes the aspects of design, procurement, and construction of power-generating facilities in the area of thermal, renewable, and combined-cycle plants. Other significant characteristics include advanced engineering solutions and modern tech-backed project management. The application is a utility-scale power plant, industrial facilities, and in a functional way, a large energy infrastructure. The results are witnessed in advanced energy security, economic diversification, and alignment with the Kingdom's Vision 2030, to secure its advantages in improved efficiencies, greater cost-effectiveness, and technological innovations. The increased investment in energy infrastructure will propel the power EPC market in Saudi Arabia toward high development. Key drivers for this market are: 4., Declining Costs of Solar Technologies4.; Demand for Decentralized Solar Energy Systems. Potential restraints include: 4., Absence of Any New Initiatives in the Country. Notable trends are: The Renewable Energy is Expected to Dominate Market.

By End-User:The KSA EMS market is segmented by end-user into residential, commercial, industrial, and government. The industrial segment dominates the market share, primarily due to high energy consumption in manufacturing sectors. Energy management solutions are critical in optimizing operations, reducing costs, and meeting sustainability targets. Government mandates to reduce carbon emissions and improve energy efficiency across industrial sectors have further propelled the adoption of EMS. By Component:The KSA EMS market is segmented by component into hardware, software, and services. Recently, software has dominated the market share under the component segmentation due to the increasing reliance on cloud-based and AI-driven platforms for real-time energy monitoring and optimization. This dominance is driven by the need for data analytics, remote access, and automation capabilities, which provide flexibility and enhance energy efficiency in diverse sectors, including industrial and commercial settings. KSA Energy Management System Market Segmentation Saudi Arabia has emerged as a leader in public-private partnership (PPP) activity in the Middle East and North Africa (MENA) region, particularly in the fourth quarter of 2023. The Kingdom is actively pursuing significant investments across various sectors, notably in airport expansion, renewable energy, and water projects. A key component of this initiative is Saudi Arabia's new civil aviation strategy, which aims to attract investments totaling $100 billion from both public and private sectors by 2030.

In 2021, the total revenue of the green ammonia market in Saudi Arabia amounted to approximately 0.26 million U.S. dollars. The revenue was forecast to increase significantly over the next decade, exceeding 51 million U.S. dollars by 2030.

Market Overview:

Middle East hydrogen generation market size is projected to exhibit a growth rate (CAGR) of 4.43% during ​2025-2033​. The escalating utilization of renewable energy sources, such as wind and solar power, which has increased the demand for green hydrogen production through electrolysis, is driving the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Growth Rate (2025-2033)	4.43%

Hydrogen generation is the process of producing hydrogen gas, a versatile and clean energy carrier, from various sources. The two primary methods are electrolysis and steam methane reforming. In electrolysis, water is split into hydrogen and oxygen using an electric current, often sourced from renewable energy. Steam methane reforming extracts hydrogen from natural gas through a chemical reaction, with carbon capture employed to mitigate environmental impacts. Other methods include biomass gasification and solar-driven processes. Hydrogen holds promise as a sustainable fuel for transportation, industry, and energy storage due to its high energy density and minimal greenhouse gas emissions when produced using renewable resources. In conclusion, advancing hydrogen generation technologies play a crucial role in transitioning towards a more sustainable and low-carbon future.

Middle East Hydrogen Generation Market Trends:

The hydrogen generation market in the Middle East is experiencing robust growth, propelled by a confluence of factors that collectively underscore its significance in the evolving energy landscape. Firstly, the escalating regional emphasis on clean and sustainable energy sources has positioned hydrogen as a pivotal player in the transition to a low-carbon economy. Moreover, the increasing awareness of environmental challenges and the imperative to reduce carbon emissions have elevated hydrogen as a versatile and green energy carrier. Furthermore, technological advancements and innovations in electrolysis and other hydrogen production methods have significantly reduced costs, fostering greater competitiveness and scalability. This has not only bolstered the economic viability of hydrogen generation but has also paved the way for its integration into various industrial processes, transportation, and energy storage. Additionally, supportive government policies and ambitious initiatives aimed at promoting hydrogen infrastructure development and research have further fueled market growth. The collaborative efforts between public and private sectors to invest in hydrogen-related projects and create a conducive regulatory environment have catalyzed the expansion of the hydrogen generation market. As a result, the confluence of environmental imperatives, technological breakthroughs, and strategic policy interventions is expected to drive the hydrogen generation market in the Middle East during the forecast period.

Middle East Hydrogen Generation Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional and country levels for ​2025-2033​. Our report has categorized the market based on technology, application, and system type.

Technology Insights:

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• Coal Gasification
• Steam Methane Reforming
• Others
  

The report has provided a detailed breakup and analysis of the market based on the technology. This includes coal gasification, steam methane reforming, and others.

Application Insights:

• Methanol Production
• Ammonia Production
• Petroleum Refinery
• Transportation
• Power Generation
• Others
  

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes methanol production, ammonia production, petroleum refinery, transportation, power generation, and others.

System Type Insights:

• Merchant
• Captive
  

The report has provided a detailed breakup and analysis of the market based on the system type. This includes merchant and captive.

Country Insights:

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• Saudi Arabia
• Turkey
• Israel
• United Arab Emirates
• Iran
• Iraq
• Qatar
• Kuwait
• Oman
• Jordan
• Bahrain
• Others
  

The report has also provided a comprehensive analysis of all the major regional markets, which include Saudi Arabia, Turkey, Israel, United Arab Emirates, Iran, Iraq, Qatar, Kuwait, Oman, Jordan, Bahrain, and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Middle East Hydrogen Generation Market Report Coverage:

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Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	US$ Million
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Technology Application System Type Country
Technologies Covered	Coal Gasification, Steam Methane Reforming, Others
Applications Covered	Methanol Production, Ammonia Production, Petroleum Refinery, Transportation, Power Generation, Others
System Types Covered	Merchant, Captive
Countries Covered	Saudi Arabia, Turkey, Israel, United Arab Emirates, Iran, Iraq, Qatar, Kuwait, Oman, Jordan, Bahrain, Others
Customization Scope	10% Free Customization
Report Price and Purchase Option

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