Middle East: Market for Solar Cells and Light-Emitting Diodes 2024

Market Size for Solar Cells and Light-Emitting Diodes in the Middle East

In 2022, the Middle Eastern market for solar cells and light-emitting diodes decreased by -64.6% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, showed a resilient increase. As a result, consumption attained the peak level of $X, and then shrank significantly in the following year.

Production of Solar Cells and Light-Emitting Diodes in the Middle East

In value terms, solar cells and light-emitting diodes production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by 12%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Solar Cells and Light-Emitting Diodes

Exports in the Middle East

Solar cells and light-emitting diodes exports surged to X units in 2022, with an increase of 52% on the previous year's figure. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 265% against the previous year. The volume of export peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, solar cells and light-emitting diodes exports surged to $X in 2022. Overall, exports posted a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Turkey (X units) represented the main exporter of solar cells and light-emitting diodes, committing 56% of total exports. Israel (X units) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Jordan (13%) and the United Arab Emirates (5.2%). Oman (X units) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of +52.1% from 2012 to 2022. At the same time, Oman (+78.3%), Jordan (+27.5%), Israel (+26.3%) and the United Arab Emirates (+6.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +78.3% from 2012-2022. From 2012 to 2022, the share of Turkey and Oman increased by +44 and +2.8 percentage points, respectively.

In value terms, the largest solar cells and light-emitting diodes supplying countries in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Jordan ($X), together accounting for 98% of total exports. Israel and Oman lagged somewhat behind, together comprising a further 2.2%.

In terms of the main exporting countries, Oman, with a CAGR of +49.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, surging by 213% against the previous year. In general, the export price, however, recorded a abrupt downturn. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Israel ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.7%), while the other leaders experienced a decline in the export price figures.

Imports of Solar Cells and Light-Emitting Diodes

Imports in the Middle East

After ten years of growth, overseas purchases of solar cells and light-emitting diodes decreased by -57.1% to X units in 2022. Over the period under review, imports, however, enjoyed significant growth. The growth pace was the most rapid in 2015 when imports increased by 132%. Over the period under review, imports attained the peak figure at X units in 2021, and then reduced dramatically in the following year.

In value terms, solar cells and light-emitting diodes imports declined notably to $X in 2022. In general, imports, however, showed a strong increase. The pace of growth was the most pronounced in 2015 when imports increased by 71% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Israel represented the largest importer of solar cells and light-emitting diodes in the Middle East, with the volume of imports finishing at X units, which was approx. 59% of total imports in 2022. Oman (X units) took the second position in the ranking, followed by Turkey (X units) and Saudi Arabia (X units). All these countries together held approx. 34% share of total imports. The following importers - the United Arab Emirates (X units) and Iran (X units) - each amounted to a 4.5% share of total imports.

Imports into Israel increased at an average annual rate of +30.5% from 2012 to 2022. At the same time, Oman (+83.0%), Saudi Arabia (+37.2%), Turkey (+36.0%), Iran (+12.9%) and the United Arab Emirates (+8.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +83.0% from 2012-2022. From 2012 to 2022, the share of Oman, Turkey and Saudi Arabia increased by +14, +4.7 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest solar cells and light-emitting diodes importing markets in the Middle East were Turkey ($X), Israel ($X) and the United Arab Emirates ($X), with a combined 84% share of total imports.

Turkey, with a CAGR of +22.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, jumping by 62% against the previous year. In general, the import price, however, faced a abrupt curtailment. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Oman (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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