DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
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.
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.
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
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
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
Companies Mentioned
- Suntech Power Holdings Co., Ltd.
- Soitec (JV with Khaled Juffali Company)
- ReneSola Ltd.
- Sun & Life LLC
- Abengoa S.A.
- National Solar Systems LLC
- Solar Frontier Kabushiki Kaisha
- Canadian Solar Inc.
- Phoenix Solar AG
- SunPower Corporation
For more information about this report visit https://www.researchandmarkets.com/r/wd2t9o
