GCC Solar Photovoltaic Market by Product Type, Distribution Channel, End User 2024-2032
                     GCC Solar Photovoltaic 
Market Research and 
Forecast Report 2024-
2032
Format: PDF+EXCEL
© 2023 IMARC All Rights Reserved 
About IMARC Group
In ternat ional  Market  Analys is  Research and Consul t ing Group is  a leading adv iser  on management  
s t rategy and market  research wor ldwide.  We par tner  wi th c l ients  in  a l l  regions and indust ry  
vert ica ls  to  ident i fy  thei r  h ighest -value oppor tuni t ies,  address thei r  most  cr i t ica l  chal lenges,  and 
t ransform thei r  bus inesses.
IMARC’s in format ion products  inc lude major market ,  sc ient i f ic ,  economic and technological  
developments  for  bus iness leaders  in  pharmaceut ica l ,  indust r ia l ,  and h igh technology 
organizat ions.  Market  forecasts  and indust ry  analys is  for  b iotechnology,  advanced mater ia ls ,  
chemicals ,  food and beverage,  t ravel  and tour ism, nanotechnology and novel  process ing methods 
are at  the top of  the company’s  exper t ise.
IMARC’s ta i lored approach combines unfathomable ins ight  in to the dynamics o f  companies and 
markets wi th c lose cooperat ion at  a l l  levels  of  the c l ient  organizat ion.  This ensures that  our  c l ients 
achieve unmatchable compet i t ive advantage,  bui ld  more pro f ic ient  organizat ions,  and secure 
las t ing resul ts .
A cc o r d i ng  t o  t h e  l a t e s t  r e po r t  b y  IM A R C  G r o up ,  t i t l e d  " G C C  S o la r  P h o t o v o l t a i c  
Ma r k e t :  I n d u s t r y  T r e n d s ,  S h a r e ,  S i z e ,  Gr o w th ,  O p p o r t u n i ty  a n d  F o r e ca s t  2 0 2 4 -
20 3 2 , "  t h e  G C C  s o l a r  p ho t o v o l t a i c  m a rk e t  s i z e  i s  p ro j e c t ed  t o  e x h i b i t  a  g ro w t h  r a te  
( C A G R )  o f  1 1 . 3 %  d u r i n g  20 2 4 - 20 3 2 .
Fac tors  A f fec t ing  the  Growth  o f  t he  GCC So la r  Phot ovo l ta ic  Indust ry :
Report Government  In i t ia t ives  and Po l icy  Suppor t :
T he  GC C  s o l a r  p h o to v o l t a i c  ( P V )  i n du s t r y  i s  t h e  ro b u s t  s u pp o r t  f r o m  g o v e r n m e n t  
Highlight and i n i t i a t i v e s  a n d  p o l i c i e s .  Go v e r nm e n t s  i n  t h e  G C C  r e g i o n  ha v e  be e n  a c t i v e l y  p ro m o t i ng  r en e w a b l e  en e r g y ,  w i t h  a  sp e c i a l  f o cu s  o n  s o l a r  e n e r gy ,  t o  d i ve r s i f y  t h e i r  e n e r g y  m i x  
an d  r e d uc e  d ep e n d en c e  on  f o s s i l  f u e l s .  T h i s  s t r a t e g i c  s h i f t  i s  e s s en t i a l  i n  a  r e g i on  
Description t r a d i t i o n a l l y  r e l i a n t  o n  o i l  a n d  g a s  r ev e n u e s .  
I n i t i a t i v es  s u ch  a s  S a u d i  A ra b i a ' s  V i s i o n  2 0 3 0  a n d  t he  U A E ' s  E n e r g y  S t ra t e g y  2 0 5 0  
sh o w c a se  t he  c o m mi t m e n t  t o  i nc r e a s i ng  t h e  s h a r e  o f  r e n e w ab l e s  i n  t h e i r  e n e rg y  
po r t f o l i o .  T he s e  p o l i c i e s  n o t  o n l y  c r ea t e  a  c o n d uc i v e  e n v i ro n m e n t  f o r  s o l a r  P V  g r o w th  
bu t  a l s o  a t t r ac t  s i g n i f i ca n t  i n ve s t m en t s .  S u b s i d i e s ,  t ax  i n ce n t i v e s ,  a nd  f a vo r a b l e  f e e d -
i n  t a r i f f s  a re  a mo n g  t h e  m e a su r e s  a d o p t e d  t o  e n c o u r a g e  t h e  de v e l o p me n t  o f  s o l a r  
en e r g y  p r o j e c t s .
Technologica l  Advancements  and Cost  Reduct ion:
Tech no log i ca l  ad vance m en t s  i n  t he  so la r  PV  indus t r y  hav e  been  a  p i v o t a l  f ac t o r  i n  
i t s  g r o w t h  w i t h in  t he  G CC r eg i on .  I m pr ov em en t s  i n  so la r  pan e l  e f f i c i e ncy ,  a lo ng  w i t h  
i nnov a t i on s  i n  s t o r age  a nd  g r i d  i n t eg r a t i on  t ec hno lo g ies ,  h ave  enh anced  t he  v ia b i l i t y  
Report and  a t t r ac t i v ene ss  o f  so la r  po wer .  The se  adva ncem en t s  hav e  n o t  o n l y  i n c r ea sed  t he  e f f i c i ency  o f  so l a r  pa ne ls  bu t  h ave  a l so  s ign i f i c an t l y  r edu ced  t he  c os t  o f  so la r  
ene r gy  p r oduc t i on ,  m ak ing  i t  a  m or e  c om pe t i t i ve  a l t e r na t i ve  t o  t r ad i t i ona l  f o ss i l  
Highlight and f ue l s .  
The  dec l i n i ng  cos t  o f  so la r  PV  sys t e m s  has  b een  a  ga m e- c hang e r .  I t  h as  l ed  t o  an  
i nc r ease  i n  l a r ge - sca le  so la r  p r o jec t s  and  ha s  m ade  s o la r  pow er  m or e  a ccess ib le  t o  
Description r es i den t i a l  and  com m e r c ia l  use r s .  Eco nom ie s  o f  sca le ,  d r i ven  by  g lob a l  i nves t m en t s  
i n  so la r  t ech no log y ,  have  f u r t he r  con t r i bu t e d  t o  t he  c os t  r educ t i on .  Th i s  t r end  i s  
c r uc ia l  f o r  t h e  G CC r eg ion ,  as  l ow er  c os t s  m ak e  t he  ad op t i on  o f  s o la r  t echno logy  
m or e  f ea s ib le  and  a t t r a c t i ve  f o r  bo t h  gov e r nm en t s  and  p r i va t e  en t i t i es .
Envi ronmenta l  Concerns and Susta inable  Development  Goals :
Env i r onm en t a l  c once r ns  an d  t he  com m i t m e n t  t o  sus t a inab le  d eve lop m en t  a r e  
i nc r eas ing l y  s hap ing  t h e  e ne r gy  po l i c i es  i n  t he  G CC r eg ion ,  pos i t i ve l y  im pac t i ng  t he  
g r ow t h  o f  t he  so la r  PV  indus t r y .
With  the  g row ing  g loba l  emphas is  on  reduc ing  ca rbon  emiss ions  and  
combat ing  c l ima te  change ,  GCC coun t r ies  a re  recogn iz ing  the  impor tance  o f  
t rans i t ion ing  to  c leaner  energy  sources .  So la r  power ,  be ing  one  o f  t he  most  
abundan t  and  c lean  energy  sources  in  the  reg ion ,  p lays  a  c ruc ia l  ro le  in  th is  
t rans i t ion .  The  adop t ion  o f  so la r  energy  a l i gns  w i th  the  g loba l  Susta inab le  
Deve lopment  Goa ls  (SDGs) ,  pa r t i cu la r l y  SDG 7 ,  wh ich  focuses  on  a f fo rdab le  
Report and  c lean  energy .  The  GCC's  inves tment  in  so la r  energy  no t  on ly  con t r ibu tes  
to  reduc ing  g reenhouse  gas  emiss ions  bu t  a lso  addresses  i ssues  l i ke  a i r  
po l lu t ion  and  resou rce  conserva t ion ,  improv ing  the  ove ra l l  env i ronmenta l  
Highlight and foo tp r in t  o f  the  reg ion .
Description Request  for  a  PDF sample  o f  th is  repor t :  
h t tps : / /www. imarcgroup .com/gcc-so la r -pho tovo l ta ic -marke t / reques tsamp le
Report Description
GCC Solar  Photovol taic Market Trends:
The market  in  GCC is  p r imar i l y  d r iven by  rap id  u rban izat ion  lead ing to  inc reased energy demand in  
res iden t ia l ,  commerc ia l ,  and  indust r ia l  sec tors .  Add i t iona l l y ,  the  s t ra teg ic  par tnersh ips  fac i l i ta te  the f low o f  
investments  and  exper t ise  in  the  so lar  PV sec tor ,  mak ing  i t  eas ier  to  under take  la rge-sca le  so lar  p ro jec ts ,  
prope l l ing  marke t  growth.  
Moreover ,  con t inua l  advancements  in  complementary  techno log ies ,  such as  ba t te ry  s to rage  sys tems,  are  
bo ls ter ing the so lar  PV marke t .  Fur thermore,  c l imate  change commi tments  co l lec t ive ly  con t r ibute  to  the  
dynamic  expans ion o f  the  so lar  PV indus t ry  in  the reg ion .  In  l ine  w i th  th is ,  p romot ing  educat iona l  and  t ra in ing  
programs ensures a  sk i l led  work fo rce  capab le  o f  suppor t ing  the expand ing  so la r  marke t .
Looking forward ,  the market  s ize  is  pro jected  to  exhib i t  a  growth  ra te  (CAGR)  of  11 .3% during  2024-
2032.
View Report  TOC,  F igures and Tables :  h t tps: / /www. imarcgroup.com/gcc-so lar-photovol ta ic -market
Technology Insights:
• Monocrystal l ine Si l icon
• Mult icrystal l ine Si l icon
• Thin Fi lm
• Others
Report 
Grid Type Insights:
Segmentation
• On-Grid
• Off -Grid
Application Insights:
• Residentia l
• Non-Residential
• Uti l i ty
Country Insights:
• Saudi Arabia
Report • UAE
Segmentation • Qatar
• Oman
• Kuwait
• Bahrain
How has the GCC solar photovoltaic market 
performed so far and how will it perform in the 
coming years?
What has been the impact of COVID-19 on the GCC 
solar photovoltaic market?
What is the breakup of the GCC solar photovoltaic 
market on the basis of technology?
Key 
What is the breakup of the GCC solar photovoltaic 
Questions market on the basis of the grid type?
Answered in What is the breakup of the GCC solar photovoltaic market on the basis of the application?
the Report What are the various stages in the value chain of 
the GCC solar photovoltaic market?
What are the key driving factors and challenges in 
the GCC solar photovoltaic market?
What is the structure of the GCC solar photovoltaic 
market and who are the key players?
What is the degree of competition in the GCC solar 
photovoltaic market?
1     P r e f a c e
2     S c o p e  a n d  M e t h o d o l o g y
    2 . 1     O b j e c t i v e s  o f  t h e  S t u d y
    2 . 2     S t a k e h o l d e r s
    2 . 3     D a t a  S o u r c e s
        2 . 3 . 1     P r i m a r y  S o u r c e s
        2 . 3 . 2     S e c o n d a r y  S o u r c e s
    2 . 4     M a r k e t  E s t i m a t i o n
Table of         2 . 4 . 1     B o t t o m - U p  A p p r o a c h        2 . 4 . 2     T o p - D o w n  A p p r o a c h
    2 . 5     F o r e c a s t i n g  M e t h o d o l o g y
3     E x e c u t i v e  S u m m a r y
4    G C C  S o l a r  P h o t o v o l t a i c  M a r k e t  -  I n t r o d u c t i o n
Contents     4 . 1     O v e r v i e w    4 . 2     M a r k e t  D y n a m i c s
    4 . 3     I n d u s t r y  T r e n d s
    4 . 4     C o m p e t i t i v e  I n t e l l i g e n c e
5    G C C  S o l a r  P h o t o v o l t a i c  M a r k e t  L a n d s c a p e
    5 . 1     H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
    5 . 2     M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
6    G C C  S o l a r  P h o t o v o l t a i c  M a r k e t  -  B r e a k u p  b y  T e c h n o l o g y
    6 . 1     M o n o c r y s t a l l i n e  S i l i c o n
        6 . 1 . 1  O v e r v i e w
        6 . 1 . 2  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
        6 . 1 . 3  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
    6 . 2     M u l t i c r y s t a l l i n e  S i l i c o n
        6 . 2 . 1  O v e r v i e w
        6 . 2 . 2  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
        6 . 2 . 3  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
       
    6 . 3     T h i n  F i l m
        6 . 3 . 1  O v e r v i e w
        6 . 3 . 2  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
        6 . 3 . 3  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
    6 . 4     O t h e r s
        6 . 4 . 1  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
        6 . 4 . 2  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
7    G C C  S o l a r  P h o t o v o l t a i c  M a r k e t  -  B r e a k u p  b y  G r id  T y p e
    7 . 1     O n - G r i d
        7 . 1 . 1  O v e r v i e w
Table of         7 . 1 . 2  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )        7 . 1 . 3  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
    7 . 2     O f f - G r i d
        7 . 2 . 1  O v e r v i e w
Contents         7 . 2 . 2  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
        7 . 2 . 3  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
8    G C C  S o l a r  P h o t o v o l t a i c  M a r k e t  -  B r e a k u p  b y  A p p l i c a t i o n
    8 . 1     R e s i d e n t i a l
        8 . 1 . 1  O v e r v i e w
        8 . 1 . 2  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
        8 . 1 . 3  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
    8 . 2     N o n - R e s i d e n t i a l
        8 . 2 . 1  O v e r v i e w
        8 . 2 . 2  H i s t o r i c a l  a n d  C u r r e n t  M a r k e t  T r e n d s  ( 2 0 1 8 - 2 0 2 3 )
        8 . 2 . 3  M a r k e t  F o r e c a s t  ( 2 0 2 4 - 2 0 3 2 )
    8 . 3     U t i l i t y
        8 . 3 . 1  O v e r v i e w
F o r  m o r e  i n f o r m a t io n ,  v i s i t :  
ht tps : / /www. imarcgroup .com/gcc -so la r-photovo l ta ic -marke t /
toc
Disclaimer
© 2023  IMARC Al l  R ights  Reserved 
Th is  Pub l i ca t ion  and  a l l  i t ’ s  con ten ts  un less  o therw ise  men t i oned  a re  copy r i gh ted  in  the  name o f  
I n t e rna t i ona l  Marke t  Ana lys i s  Research  and  Consu l t ing  ( IMARC) .  No  pa r t  o f  t h i s  pub l i ca t ion  may  be  
rep roduced ,  repackaged ,  red i s t r i bu ted  o r  res o ld  i n  who le  o r  i n  any  pa r t .  The  pub l i ca t ion  may  a l so  
no t  be  used  i n  any  f o rm o r  by  and means  g raph i c  e lec t ron ic  o r  mechan ic a l ,  i nc lud ing  pho tocopy ing ,  
reco rd ing ,  t ap ing  o r  by  i n fo rmat i on  s to rage  o r  re t r ieva l ,  o r  by  any  o the r  f o rm,  w i t hou t  the  exp ress  
c ons en t  o f  I n t e rna t iona l  Marke t  Ana lys i s  Research  and  Consu l t i ng  ( IMARC) .
Disc la imer :  Al l  con ten ts  and  da ta  o f  t h i s  pub l i c a t i on ,  i nc lud ing  fo recas t s ,  da ta  ana lys i s  and  op in ion  
have  been  based  on  in f o rmat ion  and  sources  be l ieved  to  be  accu ra te  and  re l iab le  a t  t he  t ime  o f  
pub l i sh ing .  In t e rna t i ona l  Ma rke t  Ana l ys is  Research  and  Consu l t ing  makes  no  rep resen ta t ion  o f  
war ran t y  o f  any  k ind  as  to  t he  acc u racy  o r  comp le teness  o f  any  I n fo rmat i on  p rov ided .  IMARC 
accep ts  no  l i ab i l i t y  wha tsoever  f o r  any  los s  o r  damage  resu l t i ng  f rom op in ion ,  e r ro rs  o r  
i naccu rac ies  i f  any  f ound  th is  pub l i ca t ion .
IMARC,  IMARC Group  and  G loba l  Therapy  I ns igh t  Ser i es  a re  reg is t e red  t rademarks  o f  I n te rna t iona l  
Marke t  Ana lys i s  Research  and  Consu l t ing .  A l l  o the r  t rademarks  used  i n  th i s  pub l i ca t i on  a re  
reg i s te red  t rademarks  o f  t he i r  r espec t i ve  compan ies .
Contact Us
Visit us at :
https://www.imarcgroup.com
TELEPHONE: +1-631-791-1145 
E-MAIL: [email protected]