To meet the growing energy demand, the Gulf Cooperation Council (GCC) countries are witnessing a huge investment in the field of solar energy. Over the past few years, the GCC region has undertaken several solar projects to promote cleaner energy power generation. With the GCC solar network expansion, the next 6 years, the solar energy equipment market will witness strong growth.
According to foreign research institutions 6Wresearch, 2022 GCC solar equipment market is expected to reach 8.8525 billion US dollars (about 61.52 billion yuan). Saudi Arabia and the United Arab Emirates are the key GCC countries throughout the GCC region. In 2015, solar PV equipment accounted for the majority of revenue share, Saudi Arabia is the largest contributor to the country. During the forecast period, solar PV is expected to remain dominant. Due to the large amount of light and available land, solar concentrating power generation equipment will account for a significant share of the GCC market.
Solar equipment market can be divided according to type, solar photovoltaic and solar energy concentrating days. The former can be subdivided into photovoltaic modules, stent structures, inverters and others; the latter can be subdivided into solar collectors and towers, thermal energy storage devices, receivers and others.
In the report, the GCC market for solar energy equipment is divided by country, including Saudi Arabia, UAE, Kuwait, Qatar, Oman and Bahrain.
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