Market Size of United Arab Emirates Solar Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 7.90 gigawatt |
| Market Volume (2029) | 36.06 gigawatt |
| CAGR (2024 - 2029) | 35.48 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UAE Solar Energy Market Analysis
The United Arab Emirates Solar Energy Market size in terms of installed base is expected to grow from 7.90 gigawatt in 2024 to 36.06 gigawatt by 2029, at a CAGR of 35.48% during the forecast period (2024-2029).
- Over the medium term, factors such as encouraging government policies and pressure to meet the power demand using renewable energy to decrease dependency on fossils and decrease carbon footprints are significant contributors to the market's growth.
- On the other hand, the rising adoption of alternative clean energy sources is expected to restrain market growth.
- Nevertheless, with the adaption of the visionary UAE Energy Strategy 2050, the country is set to increase its clean energy share to 44% by 2050 by investing in nuclear and solar energy. It, in turn, is expected to create several opportunities for the United Arab Emirates solar energy market in the future.
