Middle East Rooftop Solar PV Module Market Analysis

Middle East Rooftop Solar PV Module Market Analysis

To get key market trends

  Download Free Sample

Based on technology, the market is segmented into thin film and crystalline silicon. The crystalline silicon rooftop solar PV module is projected to reach USD 1.29 billion by 2032 owing to innovations in cell design, material quality, and manufacturing processes resulting in increased efficiency and reduced production costs. Increasingly affordability for residential, commercial, and industrial consumers and growing investments by homeowners in solar energy systems to reduce electricity bills will drive the business scenario. Additionally, increasing energy independence, along with contribution to environmental sustainability will enhance the industry outlook.
 

Based on product, the market is segmented into monocrystalline, polycrystalline, cadmium telluride, amorphous silicon, and copper indium gallium di-selenide. The monocrystalline rooftop solar PV module market is set to expand at a CAGR of more than 5.5% through 2032. Ongoing research and development efforts combined with favourable government incentives, such as tax credits and net metering policies will fuel the product adoption. Enabling grid independence while enhancing energy resilience in conjunction with ability to offer viable solution for utilizing available rooftop space in densely populated urban areas will further foster the business dynamics.
 

On-grid rooftop solar PV module witnessed a market share of over 99% in 2023. The system offering clean and renewable energy source aligned with sustainability goals and contributing to efforts to mitigate climate change will complement the business growth. Grid integration solutions, such as smart inverters and grid-tied systems, enable efficient and reliable operation while ensuring compatibility with utility grids, will proliferate the product penetration.
 

Turkey rooftop solar PV module market is projected to cross USD 817.5 million by 2032. Capability to decentralize power generation and reduce dependence on centralized power plants along with introduction of various solar projects across the country will foster the market growth. However, deregulation initiatives, market reforms, and the emergence of third-party financing models will expand consumer choice and facilitate greater access to solar energy solutions, boosting the industry dynamics.