GCC Solar Power Market By Technology (Photovoltaic Systems, Concentrated Systems, Parabolic Trough, Solar Power Tower, Fresnel Reflectors, Dish Stirling), By Raw Material, By Installation, By Application, By Company, By Region, Forecast & Opportunities, 2026

The GCC Solar Power Market is expected to grow at an impressive rate during the forecast period. The GCC Solar Power Market is driven by the growing environmental concerns due to increasing greenhouse gases emissions and global warming. This has increased the need to shift towards cleaner forms of energy thereby positively influencing the market growth through 2026. Additionally, supportive government policies and grants & subsidies for facilitating the use of solar energy is further expected to propel the market growth over the next few years. Furthermore, depleting fossil fuels and growing need to ensure future energy safety is expected to foster the market growth during the forecast period. However, high initial costs involved in infrastructure and setup is expected to hamper the market growth. Besides, higher electricity cost and low capacity factor can further impede the market growth through 2026.

The GCC Solar Power Market is segmented based on technology, raw material, installation, application, company, and region. Based on technology, the market can be fragmented into photovoltaic systems, concentrated systems, parabolic trough, solar power tower, fresnel reflectors and dish stirling. The photovoltaic systems are expected to dominate the market owing to the increasing installations of solar panels and PV cells. Based on raw material, the market can be categorized into polycrystalline silicon cells, cadmium telluride, monocrystalline silicon cells and others. The monocrystalline silicon cells segment is expected to dominate the market on account of the growing investments in solar panels and the growing demand of PV cells from the industrial sector. Based on application, the market can be classified into the residential, commercial and industrial. The commercial segment is expected to dominate the market owing to the major installations in hotels, offices, hospitals, among others.

The major players operating in the GCC Solar Power Market are Suntech Power Holdings Co., Ltd., Soitec, ReneSola Ltd., Sun & Life, Abengoa S.A., National Solar Systems LLC, Solar Frontier Kabushiki Kaisha, Canadian Solar Inc., Phoenix Solar AG, SunPower Corporation and others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.

Years considered for this report:

• Historical Years: 2016-2019
• Base Year: 2020
• Estimated Year: 2021
• Forecast Period: 2022-2026

Objective of the Study:

• To analyze and estimate the market size of the GCC Solar Power Market from 2016 to 2019.
• To estimate and forecast the market size of the GCC Solar Power Market from 2020 to 2026 and growth rate until 2026.
• To classify and forecast the GCC Solar Power Market based on technology, raw material, installation, application, company, and regional distribution.
• To identify dominant region or segment in the GCC Solar Power Market.
• To identify drivers and challenges for the GCC Solar Power Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the GCC Solar Power Market.
• To identify and analyze the profile of leading players operating in the GCC Solar Power Market.
• To identify key sustainable strategies adopted by market players in the GCC Solar Power Market.

The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of manufacturers across the globe. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the manufacturers which could not be identified due to the limitations of secondary research. The publisher analyzed the manufacturers, distribution channels and presence of all major players across the globe.

The publisher calculated the market size of the GCC Solar Power Market by using a bottom-up approach, wherein the data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:

• Solar power manufacturers/suppliers
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to solar power

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:

In this report, the GCC Solar Power Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

GCC Solar Power Market, By Technology:

• Photovoltaic Systems
• Concentrated Systems
• Parabolic Trough
• Solar Power Tower
• Fresnel Reflectors
• Dish Stirling

GCC Solar Power Market, By Raw Material:

• Polycrystalline Silicon Cells
• Cadmium Telluride
• Monocrystalline Silicon Cells
• Others

GCC Solar Power Market, By Installation:

• Crystalline PV
• Thin-Film PV

GCC Solar Power Market, By Application:

• Residential
• Commercial
• Industrial

GCC Solar Power Market, By Region:

• UAE
• Bahrain
• Saudi Arabia
• Oman
• Qatar
• Kuwait

Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the GCC Solar Power Market.

Available Customizations:
With the given market data, the publisher offers customizations according to a client’s specific needs.