GCC Renewable Energy Market Overview
Base Year: 2024
Historical Years: 2019–2024
Forecast Years: 2025–2033
Market Growth Rate: 10.60% (2025–2033)
The GCC renewable energy market is growing due to government initiatives, increasing investments in solar and wind projects, and a strong push for sustainability under Vision 2030 goals. The GCC renewable energy market size was valued at 16.44 GW in 2024. Looking forward, IMARC Group estimates the market to reach 43.80 GW by 2033, exhibiting a CAGR of 10.60% from 2025-2033.
GCC Renewable Energy Industry Trends and Drivers:
Gulf Cooperation Council (GCC) countries are investing more in renewable energy. This is part of their plans to diversify economies and reduce reliance on fossil fuels. Countries like Saudi Arabia, UAE, and Qatar lead in solar and wind energy projects. They benefit from rich natural resources and good weather conditions. Large solar farms and wind power sites are being built to capture renewable energy. This aligns with their goals for sustainability and environmental care. These investments create jobs and promote innovation in renewable technologies.
Government policies and incentives are key in the GCC renewable energy market. Rules that encourage private sector involvement and attract foreign investment are improving market conditions. Initiatives like feed-in tariffs and power purchase agreements support the growth of renewable projects. As GCC countries work toward sustainability targets, cooperation between public and private sectors is crucial. Although challenges like regulatory issues and infrastructure gaps remain, the future for the GCC renewable energy market looks bright, with strong growth expected soon.
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GCC Renewable Energy Industry Segmentation:
The report has segmented the market into the following categories:
Analysis by Type:
- Hydropower
- Wind Power
- Solar Power
- Bioenergy
- Geothermal Energy
- Others
Analysis by Application:
- Residential
- Commercial
- Industrial
Country Analysis:
- Saudi Arabia
- UAE
- Qatar
- Kuwait
- Oman
- Bahrain
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- MACE Group
- Enerwhere Sustainable Energy DMCC
- SolarWinds
- Akuo Energy SAS
- Yellow Door Energy Limited
- Masdar (Abu Dhabi Future Energy Co.)
- Canadian Solar Inc.
- Siraj Power Contracting LLC
- ACWA POWER BARKA SAOG
- EDF Renewables
Key highlights of the Report:
- Market Performance (2019–2024)
- Market Outlook (2025–2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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