6wresearch logo

Solar equipment market in GCC to grow to USD 8.85bn by 2022

December 29, 2016

The solar equipment market in the Gulf Cooperation Council (GCC) will grow to USD 8.85 billion (EUR 8.5bn) in 2022, according to a report by 6Wresearch.

The UAE and Saudi Arabia are and will remain the main revenue generating countries, the market research and consulting firm says. The main factors contributing to the increasing demand for solar equipment in the region include rising energy requirements, infrastructure development, declining oil prices and a greater focus on sustainability and renewables.

Solar photovoltaic (PV) equipment is seen to have the major revenue share in 2022, leaving a bit for concentrating solar power (CSP).

In 2015 Saudi Arabia was the number-one GCC market for solar equipment, while the UAE is expected to take the lead in the coming years thanks to major projects in Dubai and Abu Dhabi. Several days ago the Dubai Electricity and Water Authority (DEWA) said installation has been completed of about 75% of the photovoltaic (PV) panels that will make up the 200-MW phase II of the Mohammed bin Rashid Al Maktoum Solar Park. The contract for the next 800-MW phase, to become operational in 2020, was awarded recently to a Masdaq-led consortium.

"At present, majority of energy generated in the region is from the oil and natural gas; however, with growing environmental concerns and reducing solar equipment prices, the market for GCC solar equipment would record growth over the next six years," said Ravi Bhandari, research analyst.

Media Source: Renewables Seenews

      Browse More Report

India Telecom Tower Power Systems Market (2017-23)

Market Forecast By Types (Reliable Grid (Diesel Genset and Batteries (Lead Acid and Lithium Ion (Solar), Unreliable Grid (Diesel Genset and Batteries (Lead Acid and Lithium Ion (Solar), Off Grid (Diesel Genset and Batteries (Lead Acid ( Solar)), By Regions...

Read More

India Servo Motors and Drives Market (2017-23)

Market Forecast By Servo Motors and Drive Types (Servo Motors (AC Servo Motors, DC Brushless Motors, Brushed DC Motors and Linear Servo Motors), Servo Drives (AC Servo Drive and DC Servo Drive)), By Voltage Range (Low Voltage and Medium Voltage), By Communication Protocol (Fieldbus and Industrial Ethernet), By Brake Type...

Read More

Pakistan Air Conditioner Market (2017-2023)

Market Forecast By Type (Window AC, Spilt AC, Floor Standing, Cassette, Suspended, Packaged, Ceiling Concealed/ Ducted Split, Centralized, Chiller, VRF, AHU/FCU), By Applications (Residential, Commercial Buildings & Retail, Government & Transportation...

Read More

India Submersible Pumps Market (2017-2023)

Market Forecast By Types (Openwell Submersible Pumps and Borewell Submersible Pumps), By Applications (Agriculture, Residential & Commercial and Industrial), By Industry (Construction, Oil & Gas, Water & Sewage, Chemical, Power Utilities, Mining and Others), By Regions...

Read More

India Diesel Engine Market (2018-23)

Market Forecast By Types (≤30 Hp, 31-100 Hp, 101-160 Hp, 161-200 Hp, 200-5000 Hp and Above 5000 Hp), By Applications (Agricultural, Automotive, Power, Construction Equipment and Industrial), By Regions (Northern, Western, Eastern and Southern) and Competitive Landscape

Read More

GCC Digital Signage Market (2017-2023)

Market Forecast By Components (Display Screens, Content Players and Software), By Display Screen Types (Single Screen, Video Wall or Multi Screen and Digital Signage Kiosk), By Display Screen Technologies (LED, OLED and QLED), By Display Screen Size...

Read More

India Fire Safety Systems and Equipment Market (2017-2023)

Market Forecast By Type (Fire Fighting Systems & Equipment (Fire Extinguishers (Dry Chemical, CO2, Clean Agent, Foam Fire, Wet Chemical and Water), Fire Suppression Systems (Clean Agent (FM 200, Novec), Carbon Dioxide, Wet Chemical Fire and Dry Chemical)...

Read More

Oman Air Conditioner Market (2017-2023)

Market Forecast By Types (Window AC, Spilt AC, Floor Standing, Cassette Type, Ducted Split/Ceiling Concealed, Packaged and Centralized (Chiller, VRF, AHU/FCU and Others)), By Applications (Residential, Healthcare, Commercial Buildings & Retail, Government...

Read More


Our Key Clients
6wreserach client list