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

Saudi Arabia Biometrics Market (2018-2024)

Market Forecast By Technology (Fingerprint, Facial, Iris, Hand/Palm, Multimodal, Voice, Vein and Other Biometrics), By Applications (Time & Attendance, Access control and Record Keeping), By Verticals (Government & Transportation, Healthcare & Hospitality, Commercial Office...

Read More

India Cable Tray Market (2018-2024)

Market Forecast By Material (Aluminium, Steel, Stainless Steel and FRP including Fiber Reinforced Palastic), By Types (Ladder, Solid Bottom, Trough & Perforated, Channel, Wire Mesh and Single Rail), By Thickness (Below 1.5 mm, 1.5 - 2.5 mm and Above 2.5 mm)...

Read More

Saudi Arabia Thermostats, Valves & Actuators and Damper Actuators Market (2014-2024)

Market Forecast By Thermostats (By Types (Standalone and Communicating), By Technology (Wired and Wireless)), By Valves & Actuators (Multi-Turn (Ball Valves, Butterfly Valves, Plug Valves, Spherical Valves and Others), Quarter-Turn (Gate Valves, Globe Valves...

Read More

Sudan & South Sudan Air Conditioner Market (2018-2024)

Market Forecast By Product Type (Room AC (Window and Split), Ducted AC (Ceiling Concealed and Packaged), Ductless AC (Suspended, Floor Standing and Cassette), Centralized AC (VRF, AHU/FCU, Condensing Unit, Chiller and Others)), By Applications...

Read More

Iraq Air Conditioner Market (2018-2024)

Market Forecast By Product Type ( Room AC ( Window and Split), Ducted AC (Ceiling Concealed and Packaged), Ductless AC (Suspended, Floor Standing and Cassette), Centralized AC (VRF, AHU/FCU, Condensing Unit, Chiller and Others)), By Applications...

Read More

Ethiopia Air Conditioner Market (2018-2024)

Market Forecast By Product Type (Room AC (Window and Split), Ducted AC (Ceiling Concealed and Packaged), Ductless AC (Suspended, Floor Standing and Cassette), Centralized AC (VRF, AHU/FCU, Condensing Unit, Chiller and Others)), By Applications...

Read More

Indonesia 1,000 kVA - 2,500 kVA High Speed Gas Genset Market (2018-2024)

Market Forecast By Types (Standby Power and Continuous/Prime Power), By KVA Rating (1,000 kVA to 1,500 kVA and 1,500.1 kVA to 2,500 kVA), By Applications (Industrial, Commercial, Agriculture and Oil & Gas), By Regions (Java-Bali, Sumatra, Kalimantan, Sulawesi...

Read More

Global Water Mist Fire Protection Systems Market (2018-2024)

Market Forecast By Pressure (Low Pressure (< 12.1 bar), Intermediate Pressure (12.1 - 35 bar) and High Pressure (> 35 bar), By Types (Wet Pipe, Dry Pipe, Deluge and Pre-Action), By Applications (Residential, Commercial, Transportation Infrastructure, Data Center...

Read More

Indonesia High Speed Diesel Genset Market (2018-2024)

Market Forecast By kVA Rating (5 kVA-500 kVA, 501 kVA-1000 kVA and 1001 kVA-3000 kVA), By Types (Standby and Continuous/Prime), By Applications (Commercial, Residential, Industrial, Critical Applications, Infrastructure, Agriculture, Power Utilities and Others), By Regions...

Read More


Our Key Clients
6wreserach client list


6Wresearch Events
6wreserach events