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

Middle East Structured Cabling Market (2018-2024)

Market Forecast By Product Types (Cables and Components), By Cable Types (Copper Cables and Fiber Optics), By Component Types (Racks & Cabinets, Patch Panel & Cross Connects, Communication Outlets and Patch Cords & Cable Assemblies), By Applications...

Read More

Kuwait Air Compressor Market (2018-2024)

Market Forecast By Types (Portable and Stationary), By Lubrication Method (Oil-Injected and Oil Free), By Technology (Rotary (0-75kW, 76-160kW and Above 160kW), Centrifugal (0-500kW and Above 500kW), Reciprocating (0-10kW and Above 10kW)), By Applications...

Read More

Indonesia Diesel Genset Market (2018-2024)

Market Forecast By KVA Ratings (5-75 KVA, 75.1-375 KVA, 375.1-750 KVA, 750.1-1000 KVA and Above 1000 KVA), By Verticals (Commercial, Industrial, Residential and Public Infrastructure), By Applications (Standby and Continuous/Prime), By Regions...

Read More

Malaysia UPS Systems Market (2018-2024)

Market Forecast By KVA Ratings (Up to 1.1 kVA, 1.1 kVA - 5 kVA, 5.1 kVA - 20 kVA, 20.1 kVA - 50 kVA, 50.1 kVA - 200 kVA and Above 200 kVA), By Applications (Commercial (Offices, Healthcare, Hospitality, BFSI, Data Centres and Others including Retail, Government Buildings...

Read More

Vietnam UPS Systems Market (2018-2024)

Market Forecast By KVA Ratings (Up to 1.1 kVA, 1.1 kVA - 5 kVA, 5.1 kVA - 20 kVA, 20.1 kVA - 50 kVA, 50.1 kVA - 200 kVA and Above 200 kVA), By Applications (Commercial (Offices, Healthcare, Hospitality, BFSI, Data Centres and Others including Retail, Government Buildings...

Read More

Global Gas Genset Market (2018-2024)

Market Forecast By KVA Ratings (Upto 100 KVA, 100.1-375 KVA, 375.1-1000 KVA and Above 1000 KVA), By Applications ((Residential, Industrial including Manufacturing and Production, Commercial (Offices, Museum, Hospitality, Retail, Education and Data Center)...

Read More

Thailand Diesel Genset Market (2018-2024)

Market Forecast By kVA Rating (5kVA - 75kVA, 75.1kVA - 375kVA, 375.1kVA - 750kVA, 750.1kVA - 1000kVA and Above 1000kVA), By Applications (Residential, Hospitality, Commercial, Healthcare, Retail, Manufacturing, Oil & Gas and Power Utilities, Infrastructure...

Read More

India Video Surveillance Analytics Software Market (2018-2024)

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

Read More

India Gas Genset Market (2018-2024)

Market Forecast By Rating (Up to 100 kVA, 100.1 kVA - 375 kVA, 375.1 kVA - 1,000 kVA and Above 1,000 kVA), By Verticals (Industrial, Commercial and Residential), By Applications (Standby Power, Primary Power and Peak Shaving), By Regions...

Read More

India Air Conditioner Market (2018-2024)

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

Read More

Saudi Arabia Industrial Valves Market (2018-2024)

Market Forecast By Types (Gate, Globe, Check, Ball and Others), By Functionality (On/Off and Control), By Applications (Oil & gas, Water & Wastewater, Chemical & Petrochemical, Power & Utility, Construction and Others), By Regions (Eastern, Western, Central and Southern)...

Read More


Our Key Clients
6wreserach client list


6Wresearch Events
6wreserach events