Growing energy requirements, infrastructure development, decrease in global oil prices along with the increased focus on renewable sources especially solar energy are some of the key factors that would spur the demand for solar equipment in GCC region.
The market for solar equipment in GCC region has registered growth in last few years due to growing awareness and initiatives taken by the governments to promote power generation from solar power. During the forecast period, the market for solar equipment is anticipated to rise owing to the renewable energy targets of various GCC countries.
In the GCC region major revenue share in the overall market is taken by the equipment used in Solar PV plant as compared to the equipment used in Solar CSP plants. Even though the capacity of plants made from Solar CSP technologies is higher, but ease of usage and considerably lower pricing are driving its market
At present, majority of energy generated in the region is from the oil and natural gas; however, with growing environment concerns and reducing solar equipment prices, the market for GCC solar equipment would record growth over the next six years."
The GCC solar equipment market is majorly led by countries such as UAE and Saudi Arabia, wherein in 2015 majority of the market revenues were generated from Saudi Arabia due to significant initiatives taken by the government in the areas of installation of PV plants.
- Abdul Latif Jameel Company Ltd
- Abenoga Solar S.A.
- ACWA Power LLC
- Advanced Electronics Company
- DuSol Industries LLC
- First Solar Inc.
- Grupo Gransolar, S.L.
- Kaco New Energy FZ LLC
- Qatar Solar Energy W.L.L.
- Sun & Life LLC
- TSK ELECTRÓNICA Y ELECTRICIDAD, S.A.
Key Topics Covered:
1 Executive Summary
3 GCC Solar Equipment Market Overview
4 GCC Solar Equipment Market Dynamics
5 GCC Solar Economic Consideration
6 GCC Solar Equipment Market, By Technology Overview
7 GCC Solar Equipment Regional Market Overview
8 GCC Solar Equipment Market Competitive Analysis
9 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/v2q7vs/gcc_solar
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/gcc-solar-equipment-market-to-reach-88-billion-by-2022---increased-focus-on-renewable-sources---research-and-markets-300382453.html
SOURCE Research and Markets