6wresearch logo

GCC solar equipment market to reach $8.8bn by 2022

December 29, 2016

Growing energy requirements, infrastructure development, decrease in global oil prices along with the increased focus on renewable sources especially solar energy are some of the key factors that would spur the demand for solar equipment in GCC region.

According to 6Wresearch, GCC Solar Equipment Market is projected to reach $8,852.5 Million by 2022. The market for solar equipment in GCC region has registered growth in last few years due to growing awareness and initiatives taken by the governments to promote power generation from solar power. During the forecast period, the market for solar equipment is anticipated to rise owing to the renewable energy targets of various GCC countries.

According to Ravi Bhandari, Research Analyst, 6Wresearch, in GCC region major revenue share in the overall market is taken by the equipment used in Solar PV plant as compared to the equipment used in Solar CSP plants. Even though the capacity of plants made from Solar CSP technologies is higher, but ease of usage and considerably lower pricing are driving its market.

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

According to Anuj Sharma, Research Associate, Research and Consulting, 6Wresearch, "GCC solar equipment market is majorly led by countries such as UAE and Saudi Arabia, wherein in 2015 majority of the market revenues were generated from Saudi Arabia due to significant initiatives taken by the government in the areas of installation of PV plants."

"In the coming years, UAE is exhibited to lead due to projects such as the 800 MW project which was given to the consortium of Masdar, Gransolar and FRV and DEWA Shuaa solar PV plant along with the Sweihan solar project in Abu Dhabi.

Further, Oman and UAE have introduced plans to encourage solar roof top projects in residential, commercial and industrial sectors." Anuj Concluded. Some of the major Comapanies in GCC Solar Equipments markt Include-TKS, Gransolar, ACWA Power, Masdar, Total, etc.

Media Source: Utilities-Me

      Browse More Report

GCC Video Surveillance Storage Market (2017-2023)

Market Forecast by Product Device (SAN, DAS and NAS), Deployment (Cloud, Hybrid and On-Premise), Verticals (Government & Transportation, Retails, Enterprise & Data Centers, Residential, Healthcare & Hospitality, BFSI and Others), Countries...

Read More

Latin America Elevator and Escalator Market (2017-2023)

Market Forecast By Segments (Elevators (Low-Rise, Mid-Rise & High-Rise) and Escalator (Moving Stairs & Moving Walkways)), Services (New installation, Maintenance & Modernization) and Countries Covered...

Read More

India Video Surveillance Storage Market (2017-2023)

Market Forecast By Technology (Network Attached Storage, Storage Area Network & Direct Attached Storage), Deployment (On-Premise & On-Cloud (Private, Public and Hybrid)), Verticals (Banking & Financial, Government and Transportation, Retail, Commercial Offices...

Read More

Africa Concrete Batching Plant Market (2017-2023)

Market Forecast By Capacity (Low Capacity (<60 CuM/Hr) Medium Capacity (60 CuM/Hr to 160 CuM/Hr) & High Capacity (>160 CuM/Hr)), By Verticals (Infrastructure, Buildings and Others), By Countries (South Africa, Kenya, Nigeria, Egypt, Algeria & Ethiopia) and Competitive Landscape

Read More

India Video Surveillance Analytics Software Market (2017-2023)

Market Forecast By Applications (Macro Applications (Traffic Surveillance, Building Surveillance, City Surveillance and Business Intelligence) and Micro Applications (Perimeter Intrusion Detection, Pattern Recognition, Counting & Crowd Management, Automatic License Plate Recognition (ALPR), Incident Detection, Face Recognition and Others))...

Read More

India Unified Communications and Collaboration Market (2017–2023)

Market Forecast By Solution Types (Voice, Video, Message and Others), Verticals (BSFI, Logistics & Transportation, Government and Public Utilities, Retail, Hospitality & Healthcare, Commercial Offices & IT/ITeS and Education)...

Read More

India Diesel Genset Market (2018-2023)

Market Forecast by KVA Ratings (5KVA-75KVA, 75.1KVA-375KVA, 375.1KVA-750KVA, 750.1KVA-1,000KVA, 1,000.1KVA-2,000KVA and Above 2,000KVA), Verticals (Commercial (Retail, Commercial Offices, Telecom, Hospitals, Hotels, BFSI, Transportation and Others), Industrial (Manufacturing, Energy and Others) and Residential)...

Read More

Saudi Arabia Electric Drives Market (2017-2023)

Market Forecast by Types (AC Drives and DC Drives), Voltage (Low Voltage Drives (< 1 KV) and Medium Voltage Drives (1 KV & Above)), Power (Low Power Drives (< 40 kW), Medium Power Drives (41 – 200 kW) and High Power Drives (> 200 kW))...

Read More

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

Market Forecast by Types (Fire Fighting Systems and Equipment (Fire Extinguishers (CO2, Dry Chemical, Clean Agent, Foam Fire, Wet Chemical and Water), Fire Detection and Alarm Systems and Equipment (Smoke Detectors, Heat Detectors, Gas Detectors, Flame Detectors...

Read More


Our Key Clients
6wreserach client list