Middle-East and Africa Thermal Power Market Size (2024 - 2029)

The thermal power market in the Middle-East and Africa is poised for growth, driven by increasing population and power consumption, which boost power demand and lead to the construction of new thermal power projects. The region's abundant oil and gas reserves further support this expansion, with natural gas maintaining a dominant position in electricity generation. Despite challenges such as the rising share of renewables and the impact of the COVID-19 pandemic causing project delays and a temporary decline in power demand, the market's potential remains strong. Opportunities are particularly notable in African countries with limited electricity access, and Saudi Arabia is expected to maintain a leading position in the market due to its planned projects.

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Market Size of Middle-East and Africa Thermal Power Industry

Middle-East and Africa Thermal Power-Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 3.00 %

Major Players

Middle-East and Africa Thermal Power Market Major Players

*Disclaimer: Major Players sorted in no particular order

MEA Thermal Power Market Analysis

The thermal power market in Middle-East and Africa is expected to grow at a CAGR of more than 3% during the forecast period of 2020-2025. Factors such as increasing population and power consumption are resulting in the growth of the power demand. With growing power demand, new thermal power projects being constructed, which, in turn, is driving the market. The presence of vast oil and gas reserves in the region is also expected to drive the thermal power. However, with the increasing share of renewables and the negative impact of the COVID-19 pandemic, delay in multiple projects and a decline in power demand is expected for the short term, resulting in slow market growth.

  • With the largest share in electricity generation, natural gas is leading the market. Due to the vast reserves of natural gas, the natural gas-based power generation is expected to continue its dominance during the forecast period.
  • By 2050, the electricity demand of the Middle-East is expected to triple in comparison to 2018. Moreover, with a significant share in African countries without electricity, vast opportunities are anticipated in the future of the thermal power market.
  • Saudi Arabia witnessed the highest power generation in 2019. With planned projects during the forecast period, the nation is expected to dominate the market.

MEA Thermal Power Industry Segmentation

The Middle-East and Africa thermal power market report includes:

Source
Oil
Natural Gas
Nuclear
Coal
Geogrpahy
United Arab Emirates
Saudi Arabia
South Africa
Egypt
Qatar
Rest of the Middle-East and Africa
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Middle-East and Africa Thermal Power Market Size Summary

The thermal power market in the Middle-East and Africa is poised for growth, driven by increasing population and power consumption, which are fueling demand for electricity. The region's abundant oil and gas reserves further bolster this demand, with natural gas leading the market due to its significant share in electricity generation. Despite the challenges posed by the COVID-19 pandemic, which has led to project delays and a temporary decline in power demand, the market is expected to recover and expand. The forecast period sees a continued dominance of natural gas-based power generation, supported by major projects in countries like Saudi Arabia and Egypt, which are set to enhance the region's thermal power capacity.

Saudi Arabia stands out as a key player in the region, with substantial investments in thermal energy projects expected to maintain its leadership in electricity generation. The country's strategic initiatives, including the development of gas-fired power plants and collaborations with international firms, underscore its commitment to expanding its thermal power infrastructure. Meanwhile, the Middle-East and Africa thermal power market remains moderately fragmented, with significant contributions from major entities such as Dubai Electricity and Water Authority, Eskom Holdings SOC Ltd, and Siemens AG. As the region continues to balance its energy portfolio with both thermal and renewable sources, the market is anticipated to experience steady growth, leveraging its hydrocarbon resources and addressing the burgeoning electricity demand.

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Middle-East and Africa Thermal Power Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Installed Capacity and Forecast in MW, till 2025

    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 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Source

      1. 2.1.1 Oil

      2. 2.1.2 Natural Gas

      3. 2.1.3 Nuclear

      4. 2.1.4 Coal

    2. 2.2 Geogrpahy

      1. 2.2.1 United Arab Emirates

      2. 2.2.2 Saudi Arabia

      3. 2.2.3 South Africa

      4. 2.2.4 Egypt

      5. 2.2.5 Qatar

      6. 2.2.6 Rest of the Middle-East and Africa

Middle-East and Africa Thermal Power Market Size FAQs

The Middle-East and Africa Thermal Power Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Dubai Electricity and Water Authority , Eskom Holdings SOC Ltd , Siemens AG, Acwa Power Barka SAOG and Saudi Electricity Company are the major companies operating in the Middle-East and Africa Thermal Power Market.

MEA Thermal Power Market Report Snapshots

MEA Thermal Power Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)