GCC Microgrid Market

GCC Microgrid Market Overview:

The GCC microgrid market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. A microgrid refers to a low-voltage electricity distribution system that can operate independently or in parallel with the main power grid. It provides power backup during emergencies such as main grid failure and can be powered using renewable sources or batteries. In recent years, microgrid has gained traction as an eco-friendly and reliable source of electricity.

In the GCC countries, the escalating demand for microgrids in the defense and healthcare sectors, along with the rising electrification projects, is the primary factor driving the market. Additionally, several government initiatives, such as Saudi Vision 2030 and UAE National Energy Strategy 2050, that support the use of clean energy sources across GCC countries are creating a favorable market outlook. Furthermore, the growing need for uninterrupted power supply, technological advancements and rising environmental concerns are some of the other factors expected to propel the market growth.

GCC Microgrid Market Segment Insights:

The report has assessed the GCC microgrid market on the basis of energy source covering, natural gas, combined heat & power, solar photovoltaic (PV), diesel, fuel cell and others. The report has further examined the market based on application including, remote systems, institution and campus, utility/community, defence and other. On a regional basis, the report examines the microgrid market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman  and Bahrain. An evaluation of the competitive landscape has also been provided with the details of the key players operating in the GCC microgrid market.

Highlights of the GCC Microgrid Market Report:

• Historical and current scenario
• Trends and developments
• Impact of COVID-19
• Market forecast
• Price analysis and forecast
• Porter’s five forces analysis
• SWOT analysis
• Value chain analysis

Key Market Segments:

The GCC microgrid market has been analysed as followed:

Segmentation by Energy Source:

• Natural Gas
• Combined Heat and Power
• Solar Photovoltaic (PV)
• Diesel
• Fuel Cell
• Others

Segmentation by Application:

• Remote Systems
• Institution and Campus
• Utility/Community
• Defence
• Others

Segmentation by Country:

• Saudi Arabia
• United Arab Emirates
• Qatar
• Kuwait
• Oman
• Bahrain

Report Customisation:

The GCC microgrid market report can be customised as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs.