GCC Renewable Energy Market Demands, Growth Analysis, Industry Report 2025-2033

Renewable Energy Market - GCC

Market Statistics

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%

According to IMARC Group's report titled "GCC Renewable Energy Market Report and Forecast 2025-2033," the market reached 16.44 GW in 2024. Looking forward, IMARC Group expects the market to reach 43.80 GW by 2033, exhibiting a growth rate (CAGR) of 10.60% during 2025-2033.

GCC Renewable Energy Market Trends and Drivers:

• Advancements in Grid Integration and Energy Storage: Emerging technologies in grid integration and energy storage are enhancing the reliability and efficiency of renewable energy systems.
• Climate Commitments: The need to reduce carbon emissions and meet international climate goals is accelerating the adoption of renewable energy technologies.
• Abundance of Natural Resources: The region’s high solar radiation and wind potential make renewable energy a cost-effective and viable power source.
• Long-Term Sustainability Plans: Countries like Saudi Arabia, the UAE, and Oman are investing heavily in renewable energy projects as part of their Vision 2030 and sustainability strategies.
• Government Initiatives for Energy Diversification: Governments in the GCC are promoting renewable energy to reduce reliance on fossil fuels and diversify energy sources.
• Growth in Solar and Wind Power Projects: Solar and wind energy projects are gaining momentum, with large-scale installations 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-effectiveness.
• Focus on Wind Energy: The recognition of the region’s coastline and desert potential is driving increased investment in wind power projects.
• Rise of Green Hydrogen: Green hydrogen, produced using renewable energy, is emerging as a key trend for industrial use and export.
• Private Sector Involvement and Public-Private Partnerships: Growing private sector investments and collaborations between public and private entities are boosting renewable energy adoption.
• Integration of AI and IoT Technologies: The use of advanced technologies like AI and IoT is optimizing renewable energy operations and maintenance, driving demand for sophisticated projects.
• Outlook: These drivers and trends are shaping the growth of the GCC renewable energy sector, positioning it for significant expansion in the coming years.

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. 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.

Contact Us:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: [email protected]

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145