Qatar Solar Energy Market Size (2024 - 2029)

The Qatar solar energy market is poised for significant expansion, driven by the country's energy transition goals and abundant solar irradiation. Despite the minimal impact of COVID-19 on the market, which is largely dominated by fossil fuels, the solar sector faces challenges from other renewable energy sources like green hydrogen and bioenergy. The solar photovoltaic systems are anticipated to experience the fastest growth due to their low production costs. The market's potential is further enhanced by favorable government policies aimed at increasing renewable energy generation, addressing the high reliance on fossil fuels, and mitigating environmental impacts.

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Market Size of Qatar Solar Energy Industry

Qatar Solar Energy Market Size
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 15.50 %
Market Concentration Medium

Major Players

Qatar Solar Energy Market Companies

*Disclaimer: Major Players sorted in no particular order

Qatar Solar Energy Market Analysis

The Qatar Solar Energy market is expected to grow with a CAGR of 15.5% during the forecast period. The COVID-19 impact on the market was not recordable as the power generation mix in the country has major share of fossil fuels and the trivial solar energy based power generation (around 5MW) remained untouched. The solar energy market in the country is exclusively propelled by two factors, the energy transition goals of the country to increase the share of renewables in the power generation which is currently very low, and the abundance of solar irradiation in the country. However, the market is impeded by competition from other renewable options, mainly the prospects of green hydrogen and bioenergy, which has more reliability than solar energy in the country.

  • The solar photovoltaic systems (PV) is expected to grow at the fastest rate during the forecast period, due to low power production cost.
  • The biggest opportunity for the solar energy market in the country is the alarmingly high fossil-fuels based power generation share, which has a number of severe consequences for the country, like the high carbon-emissions rate, and the reduction in hydrocarbon reserves which are more required in export sector. Qatar's economy is largely driven by its natural gas exports, which gets affected negatively by the consumption of gas in power sector.
  • The favourable government policies to promote renewable power generation can lead to a robust growth of the market.

Qatar Solar Energy Industry Segmentation

The Qatar Solar Energy Market report includes:

Type
Solar Photovoltaic (PV)
Concentrated Solar Power (CSP)
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Qatar Solar Energy Market Size Summary

The Qatar solar energy market is poised for significant growth, driven by the country's energy transition goals and its abundant solar irradiation. Despite the dominance of fossil fuels in the power generation mix, the solar energy sector is gaining momentum, particularly through solar photovoltaic (PV) systems, which are expected to expand rapidly due to their low power production costs and ease of installation. The government's favorable policies and initiatives, such as the integration of the Al-Kharsaah solar PV project and collaborations with entities like Qatar Foundation and WOQOD, are set to enhance the market's capacity and efficiency. These efforts aim to reduce the high carbon emissions associated with fossil fuel-based power generation and to conserve hydrocarbon reserves crucial for Qatar's export-driven economy.

Technological advancements and strategic partnerships are further propelling the solar energy industry in Qatar. The country's renewable power generation, although currently minimal, is supported by various institutions and projects focused on overcoming technological challenges. Notable developments include the establishment of the Energy Monitoring Centre and the completion of the Solar Smart Grid Project by Qatar Foundation, which are expected to bolster the solar sector's infrastructure and capacity. The market is moderately consolidated, with key players like Qatar Solar Technologies and Nebras Power QSC actively contributing to its growth. Initiatives such as the Qatar Solar Atlas are instrumental in identifying high-potential sites for solar energy, supporting the development of national solar policies and attracting investments in the sector.

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Qatar Solar Energy Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Qatar Solar Energy Installed Capacity Forecast, in Megawatt (MW), till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Solar Photovoltaic (PV)

      2. 2.1.2 Concentrated Solar Power (CSP)

Qatar Solar Energy Market Size FAQs

The Qatar Solar Energy Market is projected to register a CAGR of greater than 15.5% during the forecast period (2024-2029)

Nebras Power Q.S.C, Qatar Solar Technologies, Total Energies SE, Marubeni Corp and Qatar Solar Energy are the major companies operating in the Qatar Solar Energy Market.

Qatar Solar Energy Market Report Snapshots

Qatar Solar Energy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)