UAE in terms of countries registered the highest revenue share in the Middle East and Africa Solar System Market – 6Wresearch
UAE has witnessed and it is anticipated to witness the highest growth in the coming years owing to the government target to generate 8.5 GW of energy from solar. Additionally, UAE government initiative such as Dubai Clean Energy Strategy 2050 to increase share of clean energy to 25 per cent by 2030, 75 per cent by the year 2050 would contribute to growth for solar system. The sector has accomplished enormous growth and has registered decent growth owing to the initiatives by many countries like “Kuwait Vision 2035”, “Bahrain Vision 2030”, “Saudi Green Initiative 2030”, and Egypt Vision 2030”.
According to 6Wresearch, the Middle East and Africa Solar System Market is projected to grow at a CAGR of 9.5% in terms of revenues during 2023-2029F. The sector accounted for the highest growth on the back of the number of initiatives taken by the nations. Construction products by the Middle East and Africa countries like Al-Ajban solar park (UAE), Manah solar 1 and Manah solar 2 (Oman), Ashama solar power station (Nigeria), Saad solar PV project (Saudi Arabia) are propelling the Middle East and Africa Solar System Market Growth.
According to Ravi Bhandari, Research Head, 6Wresearch, the thin film segment acquired the largest revenue share in the MEA Solar Panel Market and is expected to witness growth in coming future on account of more customer preference owing to its high user application coupled with cost effectiveness and low maintenance cost.
“The Middle East and Africa Solar System Market (2023-2029)” report provides an in-depth analysis with 266 figures and 196 tables, covered in 393 pages. The report on Middle East and Africa Solar System Market comprehensively covers the market by types, module type, applications, system types, and countries. The report provides a detailed and unbiased analysis of the on-going growth drivers, opportunities/high growth areas, and trends of the market which are estimated support the stakeholders to align and devise their market strategies according to the latest and future market dynamics.
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