Egypt Renewable Energy Market Size (2024 - 2029)

The Egypt renewable energy market is projected to experience significant growth over the forecast period, driven by supportive government regulations and increasing demand for solar energy. Despite challenges such as the slow pace of energy infrastructure development, restricted land, and limited power capacity from variable renewable energy sources, the market is poised for expansion. The ambitious renewable energy targets set by the government are expected to create substantial opportunities, influencing the overall market size positively during the study period.

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Market Size of Egypt Renewable Energy Industry

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Egypt Renewable Energy Market Summary
Study Period 2020-2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR (2024 - 2029) 7.80 %
Market Concentration Medium

Major Players

Egypt Renewable Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Egypt Renewable Energy Market Analysis

The Egypt Renewable Energy Market size is estimated at 13.23 gigawatt in 2024, and is expected to reach 19.23 gigawatt by 2029, growing at a CAGR of 7.80% during the forecast period (2024-2029).

  • Over the medium period, factors such as supportive government regulations and growing demand for solar energy are expected to drive the Egypt renewable energy market during the study period.
  • On the other hand, the slow pace of energy infrastructure development, restricted land, and limited power capacity by variable renewable energy sources are expected to hinder the market growth during the study period.
  • Nevertheless, the ambitious renewable energy targets are likely to create immense opportunities for the Egypt renewable energy market during the forecast period.

Egypt Renewable Energy Industry Segmentation

Renewable energy is the energy collected from renewable resources such as sunlight, wind, water movement, and geothermal heat that are naturally replenished.

Egypt renewable energy market is segmented by type. By type, the market is segmented into hydropower, solar, wind, and other types. For each segment, the market sizing and forecasts have been done based on installed capacity.

Type
Hydro Power
Solar
Wind
Other Types
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Egypt Renewable Energy Market Size Summary

The renewable energy sector in Egypt is poised for significant growth, driven by supportive government policies and a burgeoning demand for solar energy. The country's strategic location as a sunbelt nation offers substantial potential for solar photovoltaic (PV) plants, with abundant solar radiation and extended sunshine hours. Egypt's commitment to its 2035 Integrated Sustainable Energy Strategy underscores its ambition to enhance solar power capacity significantly. The Benban Solar Park project exemplifies Egypt's progress towards its renewable energy goals, contributing to the country's aim of generating a substantial portion of its electricity from renewable sources. Despite challenges such as slow infrastructure development and limited land availability, the government's ambitious targets and international investments are expected to create substantial opportunities in the renewable energy market.

Egypt's renewable energy market is characterized by a semi-fragmented landscape with key players like Vestas Wind Systems, Siemens Gamesa Renewable Energy, and Scatec Solar. The government's National Renewable Energy Strategy aims to increase the share of renewables in the national energy mix, with a focus on solar and wind energy. Policies such as feed-in tariffs and auction-based processes for large-scale projects are designed to attract private investment and foreign direct investment. Collaborative efforts, such as the Egyptian-German Joint Committee on Renewable Energy, further support sustainable energy production and efficiency. With ongoing projects and strategic partnerships, Egypt is on track to become a leading renewable energy market in Africa, with plans to double its renewable energy capacity by 2035.

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Egypt Renewable Energy Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Renewable Energy Installed Capacity and Forecast, till 2029

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Supportive Government Regulations

        2. 1.5.1.2 Growing Demand for Solar Energy

      2. 1.5.2 Restraints

        1. 1.5.2.1 The Slow Pace of Energy Infrastructure Development and Restricted Land

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Hydro Power

      2. 2.1.2 Solar

      3. 2.1.3 Wind

      4. 2.1.4 Other Types

Egypt Renewable Energy Market Size FAQs

The Egypt Renewable Energy Market size is expected to reach 13.23 gigawatt in 2024 and grow at a CAGR of 7.80% to reach 19.23 gigawatt by 2029.

In 2024, the Egypt Renewable Energy Market size is expected to reach 13.23 gigawatt.

Egypt Renewable Energy Market Report Snapshots

Renewable Energy in Egypt Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)