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GCC Solar Water Heater Market Driven by Strategic Goals for Harnessing RE

February 01, 2019 | Energy & Mining

The recent report published by IMARC Group, entitled “GCC Solar Water Heater Market Report by Type (Covering Flat Plate Collector, Evacuated Tube Collector, Unglazed Water Collector), Application (Commercial, Residential, Government buildings, and Others), and Country 2024-2032”, finds that the GCC solar water heater market size reached US$ 96.3 Million in 2023. 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.

GCC solar water heater Market Trends:

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.Looking forward, IMARC Group expects the market value to reach US$ 337.2 Million by 2032, growing at a CAGR of 14.5% during 2024-2032.

Market Summary:

  • Based on types, covering flat plate collector heaters currently account for the largest market share in the GCC region.
  • On the basis of applications, the market has been segmented into commercial, residential, government buildings and others.
  • Region-wise, Saudi Arabia enjoys the leading position in the GCC solar water heater market, accounting for the biggest market share. Other regions include the UAE, Kuwait, Oman, Qatar and Bahrain.
  • The competitive landscape of the GCC solar water heater market has also been examined with some of the key players being Ariston Holding N.V., Orbital Horizon, Saudi Ceramic Company, Viessmann Group and Ecotherm Austria GmbH.
     

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million, MW Thermal
Segment Coverage Type, Application, Country
Countries Covered Saudi Arabia, UAE, Kuwait, Qatar, Bahrain, Oman
Companies Covered Ariston Holding N.V., Orbital Horizon, Saudi Ceramic Company, Viessmann Group and Ecotherm Austria GmbH
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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GCC Solar Water Heater Market Driven by Strategic Goals for Harnessing RE
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