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The companies are looking to expand into Egypt, Oman, Saudi Arabia, Qatar, and the UAE Many of the worlds top solar photovoltaic (PV) module manufacturers are expected to open production facilities in the Middle East region, according to Wood Mackenzie. These companies are likely to expand into Egypt, Oman, Saudi Arabia, Qatar, and the UAE, the global research consultancy said in its latest global solar PV module manufacturer rankings report. Although China continues to dominate the solar module manufacturing landscape in terms of scale, emerging challengers from India, South Korea, and Vietnam are rapidly closing the gap. Seven of the top 10 manufacturers now operate production facilities in three or more countries, including Cambodia, India, Malaysia, Mexico, and Vietnam. As solar PV module prices remain under pressure, manufacturers will need to strike a balance between cost reduction and ongoing investment in technology and geographic expansion. The industrys future will be shaped by continued expansion into the Middle East and Africa, efficiency gains across various technologies, rising consolidation through vertical integration, and evolving strategies to navigate trade policies and local market regulations. “Despite financial headwinds, the solar manufacturing industry is quickly repositioning for the next cycle of global growth,” said Yana Hryshko, head of global solar supply chain at Wood Mackenzie. “Technology leadership, supply chain control, and geographic agility will define the winners in the years ahead,” she said. |
