GCC Renewable Energy Market Overview, Industry Growth Rate, Research Report 2025-2033

Renewable Energy Market in GCC 2025:

How Big is the GCC Renewable Energy Industry?

The renewable energy market in GCC 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.

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Size in 2024: 16.44 GW

Market Size in 2033: 43.80 GW

Market Growth Rate (CAGR) 2025-2033: 10.60%

GCC Renewable Energy Market Trends and Drivers:

Increasing initiatives by government authorities to diversify energy sources as well as reduce reliance on fossil fuels are the factors responsible for the growth of the GCC renewable energy market. Countries in the region, including Saudi Arabia, the UAE, and Oman, are making significant investments in renewable energy projects as part of their Vision 2030 and long-term sustainability strategies. The initiatives are supported by abundant natural resources, such as solar radiation and wind potential, which make renewable energy an economically viable option. In addition to this, the region's commitment to reducing carbon emissions and meeting international climate goals has further accelerated the adoption of renewable technologies. In addition, advancements in energy storage systems and grid integration are enhancing the feasibility of renewable energy, ensuring a stable supply and improving overall efficiency.

Key trends in the GCC renewable energy market include growing interest in solar and wind power projects and the development of innovative technologies. Apart from this, solar power remains a dominant segment, with large-scale projects like Saudi Arabia's Al-Dhafra Solar PV Plant and Dubai's Mohammed bin Rashid Al Maktoum Solar Park setting global benchmarks for capacity and cost-efficiency. Wind energy projects are gaining popularity, especially in coastal and desert areas. The trend of green hydrogen is also increasing, which is a clean energy source produced by renewable energy, and it is being considered for industrial purposes and export. Private sector participation and public-private partnerships are on the rise to encourage the adoption of renewable energy. Furthermore, advancements in artificial intelligence (AI) and Internet of Things (IoT) technologies are optimizing renewable energy operations and maintenance, which is anticipated to drive the GCC renewable energy market in the coming years.

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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

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Competitive Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant. Few key players are:

• 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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