Dublin, Feb. 05, 2025 (GLOBE NEWSWIRE) — ResearchAndMarkets.com has published a report titled “Saudi Arabia Green Technology Sustainability Market, By Region, Competition, Forecast and Opportunities, 2020-2030F.”
The market for green technology in Saudi Arabia was valued at USD 5.3 billion in 2024. It is projected to grow to USD 12.83 billion by 2030, achieving an impressive annual growth rate of 15.7%.
This growth is linked to the country’s efforts to diversify its economy and promote sustainability. Saudi Arabia is shifting away from traditional energy sources to tackle environmental issues and reach its Vision 2030 objectives.
With significant investments in renewable energy like solar and wind, the government is creating a supportive environment for green technologies. As various industries—including energy, construction, and transportation—seek innovative solutions, opportunities are blossoming for businesses in this space.
Renewable Energy Investments on the Rise
A major trend in Saudi Arabia is the rapid increase in renewable energy projects. The government has rolled out initiatives like the National Renewable Energy Program, focusing on solar and wind energy. These projects are part of a broader strategy to diversify energy sources and reduce carbon emissions.
This shift strongly positions the country in the global renewable energy market. As Saudi Arabia aims for its ambitious renewable energy targets, the demand for clean energy solutions is expected to grow.
Adoption of Circular Economy Principles
Circular economy practices are gaining traction. Companies are focusing on reducing waste and enhancing resource efficiency. This shift stems from a recognition of the negative environmental impacts associated with traditional production models.
Businesses are now incorporating these principles into designs and processes, aligning with the global trend toward sustainability. This growing commitment to minimizing waste can bolster long-term economic health and environmental sustainability in Saudi Arabia.
Smart Technologies for Energy Efficiency
The adoption of smart technologies is another key trend. These include energy management systems and IoT applications that help monitor energy usage efficiently. Such technologies enable real-time insights, guiding better decisions that lower energy use and environmental impact.
As smart solutions become more common, they play a vital role in achieving the kingdom’s sustainability goals.
Sustainable Transportation Solutions Emerging
Another noteworthy trend is the rise of sustainable transportation. The shift toward electric vehicles (EVs) is supported by government incentives and a global push to reduce transport emissions. Building out charging infrastructure is also a priority.
This focus on EVs helps reduce reliance on fossil fuels and promotes a greener transportation landscape.
Water-Efficient Technology on the Rise
In light of water scarcity, there’s an increasing focus on water-efficient technologies in Saudi Arabia. Innovations in areas like drip irrigation and precision agriculture are helping optimize water use.
Such advancements are crucial for agriculture, ensuring food security while promoting sustainable water practices in the arid region.
Market Insights
The Air and Water Pollution Monitoring sector leads the Saudi Green Technology Market. Heightened awareness of environmental issues has fueled demand for technologies that track air and water quality. This segment includes sensors and tracking solutions essential for public health and resource preservation.
With government regulations and a commitment to sustainable development, the importance of pollution monitoring is likely to grow, driving further advancements in this field.
Regional Highlights
Riyadh stands out as the leading region in Saudi Arabia’s Green Technology Sustainability Market. As the capital, it’s a hub of economic, political, and cultural activity, making it central to implementing Vision 2030 initiatives.
The city sees substantial investments in renewable energy and sustainable infrastructure. Its role as a center for innovation attracts both local and global investments in green technologies.
While regions like Makkah and Jeddah are also progressing in green tech, Riyadh’s strategic approach positions it as the market leader, promoting widespread adoption of sustainable practices across the kingdom.
Key Market Players
- General Electric Company
- IBM Corporation
- Microsoft Corporation
- Salesforce Inc
- Schneider Electric SE
- Amazon.com Inc.
- Siemens AG
- ABB Ltd.
Report Scope:
This report details the Saudi Arabia Green Technology Sustainability Market, covering various categories and industry trends.
Market Categories:
- Application Areas, including Air and Water Pollution Monitoring, Carbon Footprint Management, and more.
- Key regions include Riyadh, Makkah, Madinah, Jeddah, Tabuk, and the Eastern Province.
Report Details:
Report Attribute | Details |
No. of Pages | 86 |
Forecast Period | 2024 – 2030 |
Estimated Market Value in 2024 | $5.3 Billion |
Forecast Market Value by 2030 | $12.83 Billion |
Annual Growth Rate | 15.7% |
Regions Covered | Saudi Arabia |
For additional details about this report, visit ResearchAndMarkets.com
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Research and Markets, Green Technologies, Green Technology, Sustainability, Sustainable Energy, Water Pollution, Water Sustainability