Kuwait Solar PV System Market is expected to grow at a healthy CAGR in the forecast period of 2019 to 2026. The years considered for study are as mentioned below.
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Kuwait solar PV system market is a highly consolidated market, which includes specific number of key players as well as local players. The market has witnessed increased various strategic developments owing to favourable market scenario. The market will have a prominent growth in upcoming years due to increased demand of electricity from renewable energy. In additionally; government initiative and support is another factor that influences the market growth in the coming future.
The market has witnessed developments in terms of merger and acquisitions, partnerships or product launches that expand the product portfolio for the customers. The company focusing to meets the rising demand of innovative technology which helps the companies to sustain their position in the market. For instance in In May 21019, ABB launched the new product PVS980-58 central inverter. The product features unique cooling capabilities underlining the solar solutions portfolio. The new product is designed for the large PV power plants which will help the company to increase the customer base for the solar products.
ABB is the dominating player in the Kuwait solar PV system market. The other key players in the market are Schneider Electric, Huawei Technologies Co., Ltd., ACCIONA S.A. Jinko Solar, Life Energy Co, Aims Power, Alternative Projects Company, and others.
ABB headquartered in Zurich, Switzerland which was founded on 1988. The company performs its business in robotics and motion, electrification products, industrial automation, and power grids segments.
The company has wide presences across the globe such as Europe, Americas, Middle East and Africa, Asia and Oceania.
Schneider Electric headquartered in Paris, France which was founded on 1836. The company has various segments such as Energy Management (Low Voltage, Medium Voltage, Secure Power), Industrial Automation.
The company also generates its revenue from its subsidiaries company which Invensys Systems NV/SA (Belgium), ABN Braun GmbH (Germany), Schneider Electric Industrie Italia Spa (Italy), Invensys Operations Management Espana S.L.U. (Spain), Schneider Electric Canada Inc. (Canada) among others.
The company has wide presence across the globe such as Kuwait, Asia-Pacific, Middle East & Africa, Latin America, and North America
HUAWEI TECHNOLOGIES CO., LTD
Huawei is headquartered in Shenzhen, China and was founded on 1987. The company performs its business through carrier, enterprise, and consumer segments. The company performs its business across the globe such as Europe, Americas, Middle East and Africa, Asia Pacific.
The company also generates revenue through subsidiaries such as Huawei Technologies Deutschland GmbH (Germany), Huawei Technologies K.K. (Japan), Huawei Tech. Investment Co.,Limited (Hong Kong), Huawei Global Finance Limited (UK), Huawei Device Co., Limited (Hong Kong) and others.
Kuwait Solar PV System Market – Industry Trends and Forecast to 2026