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

The Middle-East and Africa wind power market is anticipated to experience significant growth, driven by the decreasing costs of wind energy generation and increasing environmental concerns that promote the adoption of renewable energy sources. Despite competition from other clean power sources like solar and gas-fired plants, the onshore segment is projected to dominate the market due to enhanced capacity additions and reduced electricity generation costs. Technological advancements in offshore wind turbine efficiency and production costs are expected to offer further opportunities for market expansion. South Africa is poised to maintain its position as the leading market in the region, supported by continuous growth in wind power installations and new projects.

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Market Size of Middle-East and Africa Wind Power Industry

Middle-East and Africa Wind Power Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 12.39 %
Market Concentration Low

Major Players

Middle-East and Africa Wind Power Market Major Players

*Disclaimer: Major Players sorted in no particular order

MEA Wind Power Market Analysis

The Middle-East and Africa wind power market is expected to grow at a CAGR of approximately 12.39% during the forecast period. Factors such as the declining cost of generating wind energy are expected to drive the adoption of wind turbines, which in turn, is expected to increase the demand for wind power during the forecast period. Moreover, as countries are becoming increasingly concerned about climate change and the role of renewable energy in curtailing it, wind power is expected to increase its share in Middle-East and Africa market. However, increasing the adoption of alternate clean power sources such as solar and gas-fired power plants are expected to restrain the growth of the wind power market in the region.

  • The onshore segment is expected to be the largest market during the forecast period in Middle-East and Africa, owing to increased onshore wind capacity additions, supported by reducing the cost of electricity generation from onshore wind projects.
  • The technological advancements in efficiency and decrease in the production cost of offshore wind turbines is expected to create ample opportunity for the market players in Middle-East and Africa.
  • In Middle-East and Africa, South Africa had the highest installed capacity in 2019 and is further expected to be the largest market during the forecast period bolstered by constant growth in wind power additions and upcoming wind power projects.

MEA Wind Power Industry Segmentation

The Middle-East and Africa wind power market report include:

Location
Onshore
Offshore
Geography
South Africa
Egypt
Morocco
Kenya
Rest of Middle-East and Africa
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Middle-East and Africa Wind Power Market Size Summary

The Middle-East and Africa wind power market is poised for significant growth, driven by the decreasing cost of wind energy generation and the increasing emphasis on renewable energy to combat climate change. The adoption of wind turbines is expected to rise, enhancing the demand for wind power across the region. Despite the potential challenges posed by the growing adoption of alternative clean energy sources like solar and gas-fired power plants, the wind power sector is anticipated to expand. The onshore segment is projected to dominate the market, supported by advancements in technology that reduce electricity generation costs and expand capacity. South Africa is expected to lead the market, bolstered by ongoing wind power projects and supportive government initiatives aimed at increasing renewable energy supply.

Technological advancements in both onshore and offshore wind energy have created opportunities for market players, with South Africa's Renewable Energy Independent Power Procurement Program serving as a model for increasing renewable energy supply. The country's commitment to green energy, along with significant investments from international players, is expected to drive the wind power market forward. The market is moderately fragmented, with key players such as Acciona Energia SA, Enel Green Power S.p.A., EDF SA, General Electric Company, and Siemens Gamesa Renewable Energy actively participating. Overall, the combination of government support, technological advancements, and decreasing generation costs is set to foster a positive outlook for the wind power market in the Middle-East and Africa during the forecast period.

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

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Wind Power Installed Capacity and Forecast in GW, until 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 Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Location

      1. 2.1.1 Onshore

      2. 2.1.2 Offshore

    2. 2.2 Geography

      1. 2.2.1 South Africa

      2. 2.2.2 Egypt

      3. 2.2.3 Morocco

      4. 2.2.4 Kenya

      5. 2.2.5 Rest of Middle-East and Africa

Middle-East and Africa Wind Power Market Size FAQs

The Middle-East and Africa Wind Power Market is projected to register a CAGR of 12.39% during the forecast period (2024-2029)

Acciona Energia SA, Enel Green Power S.p.A, EDF SA, General Electric Company and Siemens Gamesa Renewable Energy are the major companies operating in the Middle-East and Africa Wind Power Market.

MEA Wind Power Market Report Snapshots

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