Market Size of Middle East And Africa Combined Heat And Power Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 245.67 Million |
| Market Size (2029) | USD 315.57 Million |
| CAGR (2024 - 2029) | 5.10 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA Combined Heat & Power Market Analysis
The Middle-East And Africa Combined Heat And Power Market size is estimated at USD 245.67 million in 2024, and is expected to reach USD 315.57 million by 2029, growing at a CAGR of greater than 5.10% during the forecast period (2024-2029).
- Over the medium term, the increasing industrial development coupled with demand for energy efficiency is expected to drive the market during the forecast period.
- On the other hand, increasing penetration of renewable energy sources such as solar energy is expected to hinder the growth of the market during the forecasted period.
- Nevertheless, the ability of combined heat and power systems to be integrated with renewable energy sources is expected to create huge opportunities for the Middle-East and Africa Combined Heat and Power Market.
- Saudi Arabia is expected to be a dominant region for the market due to the increasing demand for energy in the region.
MEA Combined Heat & Power Industry Segmentation
Combined heat and power, also known as Cogeneration, is a highly efficient approach to generating electricity and useful thermal energy from a single energy source. In a combined heat and power system, the waste heat generated through electricity generation is captured and repurposed for other applications such as heating, buildings, industrial processes, or providing hot water. Combined heat and power systems can be found in various settings, including industrial facilities, commercial buildings, hospitals, universities, and district energy systems.
The market is segmented by fuel type and geography. By fuel type, the market is segmented into natural gas, coal, oil, biomass, and others, and by geography, the market is segmented into Saudi Arabia, South Africa, the United Arab Emirates, and the Rest of the Middle-East and Africa. The report offers the market size and forecasts for the Middle-East and Africa Combined Heat and Power Market in revenue for all the above segments.
Middle East And Africa Combined Heat And Power Market Size Summary
The Middle East and Africa combined heat and power market is poised for significant growth over the forecast period, driven by increasing industrial development and a rising demand for energy efficiency. Despite the challenges posed by the growing penetration of renewable energy sources like solar power, the integration of combined heat and power systems with these renewables presents substantial opportunities. Saudi Arabia is expected to lead the market due to its burgeoning energy demand and strategic focus on energy diversification and carbon emission reduction. The region's diverse biomass resources, including agricultural residues and organic waste, further enhance the market's potential, aligning with the goals of energy security and reduced fossil fuel dependence.
Biomass is anticipated to dominate the combined heat and power market in the Middle East and Africa, supported by its local availability and renewable nature. The region's commitment to sustainability and carbon emission reduction makes biomass an attractive fuel option, contributing to both energy generation efficiency and waste mitigation. Saudi Arabia's robust industrial base and investment in innovation and technology further bolster the market's growth prospects. The country's expansive infrastructure and strategic projects, such as the one in Al Hofuf, underscore the increasing adoption of combined heat and power systems. Key players in the moderately fragmented market include General Electric Company, Siemens AG, Samsung C&T Corp., ACWA POWER, and Doosan Corp., all contributing to the region's transition towards cleaner and more efficient energy systems.
Middle East And Africa Combined Heat And Power Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD, till 2029
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.1.1 Increasing Industrial Growth
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1.5.1.2 Energy Efficiency
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1.5.2 Restraints
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1.5.2.1 Penetration of Alternative Energy Sources
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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Middle East And Africa Combined Heat And Power Market Size FAQs
How big is the Middle East And Africa Combined Heat And Power Market?
The Middle East And Africa Combined Heat And Power Market size is expected to reach USD 245.67 million in 2024 and grow at a CAGR of greater than 5.10% to reach USD 315.57 million by 2029.
What is the current Middle East And Africa Combined Heat And Power Market size?
In 2024, the Middle East And Africa Combined Heat And Power Market size is expected to reach USD 245.67 million.
