GCC Solar Power Market By Technology (Photovoltaic Systems, Concentrated Systems, Parabolic Trough, Solar Power Tower, Fresnel Reflectors, Dish Stirling), By Raw Material (Polycrystalline Silicon Cells, Cadmium Telluride, Monocrystalline Silicon Cells, Others), By Installation (Crystalline PV v/s Thin-Film PV), By Application (Residential, Commercial, Industrial), By Company, By Region, Forecast &

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 2027. 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 2027.

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 growing demand of PV cells from the industrial sector. Based on application, the market can be classified into 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 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 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 GCC solar power market from 2017 to 2020.
• To estimate and forecast the market size of GCC solar power market from 2021 to 2027 and growth rate until 2027.
• To classify and forecast 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 GCC solar power market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in GCC solar power market.
• To identify and analyze the profile of leading players operating in GCC solar power market.
• To identify key sustainable strategies adopted by market players in GCC solar power market.

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

Market insights research calculated the market size of

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 market opportunities.