Market Size of Iran Solar Energy Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Iran Solar Energy Market Analysis
The Iranian solar energy market is expected to register a CAGR of 9% during the forecast period.
In 2020, COVID-19 had a moderately negative impact on the market. Presently, the market has reached pre-pandemic levels.
- Over the medium term, factors such as required weather conditions, vast desert areas, and a good number of sunny days throughout the year are expected to make the country a perfect place to install solar plants and are likely to drive the Iranian solar energy market. And also, upcoming and ongoing projects for achieving Iran's renewable goal are expected to drive the Iranian solar energy market during the forecast period.
- On the other hand, the adoption of other renewable energies such as wind and hydro to generate clean energy is expected to restrain Iran's solar energy market.
- Nevertheless, Iran has the potential to increase its share of renewable energy generation to 16% by 2030. This is likely to create several opportunities for Iran's solar energy market in the future.
Iran Solar Energy Industry Segmentation
Solar energy refers to the energy that is harnessed from the sun's light and heat. The sun is a natural source of energy that emits electromagnetic radiation, which can be captured and converted into usable energy using various technologies such as solar panels, solar cells, and solar thermal collectors.
The solar energy market is segmented by type. By type, the market is segmented into solar photovoltaic (PV) and solar thermal. For each segment, market sizing and forecasts have been done based on installed capacity (MW).
Iran Solar Energy Market Size Summary
The Iranian solar energy market is poised for significant growth, driven by favorable climatic conditions and government initiatives aimed at boosting renewable energy capacity. The country's vast desert areas and abundant sunny days make it an ideal location for solar power installations. The Iranian government is actively promoting solar energy through feed-in tariffs and long-term contracts to attract private investments. Despite the potential competition from other renewable sources like wind and hydro, the solar photovoltaic (PV) segment is expected to dominate the market. The government's ambitious plans to increase renewable energy capacity and its commitment to becoming a net-zero-emission economy by 2050 further underscore the promising outlook for solar energy in Iran.
The market is moderately consolidated, with key players such as JinkoSolar Holding Co. Ltd., Carlo Maresca Spa, and others contributing to its development. Recent initiatives, including the establishment of a solar panel manufacturing plant and participation in the International Solar Alliance, highlight Iran's commitment to enhancing its solar energy infrastructure. The government's targets for renewable energy capacity and electricity production share are set to drive investment and increase the adoption of solar PV systems. As a result, the Iranian solar energy market is expected to experience robust growth, supported by strategic projects and policies aimed at expanding the country's renewable energy footprint.
Iran Solar Energy Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Iran Solar Energy Installation Capacity Forecast, in Megawatts (MW), till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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Iran Solar Energy Market Size FAQs
What is the current Iran Solar Energy Market size?
The Iran Solar Energy Market is projected to register a CAGR of 9% during the forecast period (2024-2029)
Who are the key players in Iran Solar Energy Market?
JinkoSolar Holding Co., Ltd , Carlo Maresca Spa, Hanau Energies, KPV Solar GmbH and Yekta Behine Tavan are the major companies operating in the Iran Solar Energy Market.
