GCC Solar Water Heater Market Price Trends, Size, Share, Analysis and Forecast 2022-2027

According to IMARC Group’s latest report, titled  “GCC Solar Water Heater Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the GCC solar water heater market size reached US$ 69.7 Million in 2021. Looking forward, IMARC Group expects the market value to reach US$ 180.4 Million by 2027, growing at a CAGR of 17.2% during 2022-2027.

Solar water heaters work all year round and provide a sustainable and cost-effective means of heating water for commercial, residential and industrial uses. In addition, they help in minimizing carbon emissions and improving the energy security of a region by reducing the pressure on the power systems. The GCC region receives an average of 6kWh/m2 solar radiation daily with 80-90% clear skies throughout the year. As a result, the region has ample opportunities for the implementation of solar water heaters as a solution for reducing dependence on gas and electricity.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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GCC Solar Water Heater Market Trends and Drivers:

The GCC nations have implemented certain strategic goals for increasing the share of renewable energy (RE) in their total energy production. As mentioned earlier, the region receives high levels of solar radiation, owing to which solar energy has been identified as the preferred choice for fulfilling these goals. For instance, the government of Saudi Arabia has implemented policies and regulations to promote small and medium scale solar projects, such as installing solar water heaters in the cities. Moreover, the Solar Heating Arab Mark and Certification Initiative (SHAMCI), a quality certification scheme by RCREEE, focuses on improving and expanding the solar water heater market by offering better quality products in the Arab region. However, the low electricity rates in the GCC nations have been limiting the uptake of solar water heaters.

GCC Solar Water Heater Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

  • Ariston
  • Orbital Horizon
  • Saudi Ceramics
  • Viessman
  • Ecotherm

Key Market Segmentation:

The report has segmented the GCC solar water heater market on the basis of type, application and region.

Breakup by Type:

  • Covering Flat Plate Collector 
  • Evacuated Tube Collector 
  • Unglazed Water Collector

Breakup by Application:

  • Commercial
  • Residential
  • Government buildings 
  • Others

Breakup by Region:

  • Saudi Arabia 
  • UAE
  • Kuwait 
  • Oman 
  • Qatar 
  • Bahrain

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Key Highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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