Market Size of Pakistan Wind Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Pakistan Wind Energy Market Analysis
The market for wind energy in Pakistan is expected to record a CAGR of more than 5% in the forecast period 2022-2027. The COVID-19 pandemic led to temporary disruptions in the ongoing projects due to difficulties in sourcing raw materials and transportation of finished equipment. Apart from this, Pakistan saw a significant power surplus due to new generation and weaker than projected demand, in part due to the pandemic making wind energy projects unattractive temporarily. In terms of market growth, factors such as supportive government policies and efforts to meet power demand using renewables to decrease dependency on fossils are expected to drive the market. On the other hand, Pakistan currently has a significant dependency on coal-based and natural gas power generation and hydropower, which may lead to fewer investments in other renewable sources of energy, such as wind energy, which constituted about 2% of electricity generation in 2020 and may restrain the wind energy market.
Improvements in wind energy technology and the presence of abundant natural resources to harness wind energy are expected to drive the market.
The Pakistani government aims to achieve 30% of its electricity generation from renewables by 2030, excluding hydroelectricity. Such targets by the government are expected to create several opportunities for the wind energy market in the future.
Supportive policies and programs by the government of Pakistan and upcoming new projects are likely to propel the wind energy market in Pakistan.
Pakistan Wind Energy Industry Segmentation
The Pakistani wind energy market report includes:
Pakistan Wind Energy Market Size Summary
The wind energy market in Pakistan is poised for growth, driven by supportive government policies and advancements in wind energy technology. Despite temporary disruptions due to the COVID-19 pandemic, which affected project timelines and made wind energy projects less attractive, the market is expected to benefit from the government's commitment to increasing the share of renewable energy in the national grid. The Pakistani government aims to achieve a significant portion of its electricity generation from renewables by 2030, excluding hydroelectricity, which is anticipated to create numerous opportunities for the wind energy sector. The presence of abundant natural resources, such as the Gharo-Jhimpir wind corridor, provides a favorable environment for wind energy development, with ongoing efforts to identify new corridors for harnessing wind power.
The market landscape is characterized by a mix of local and international players, with companies like Vestas Wind Systems, China Three Gorges Corp, and General Electric Company actively participating in the sector. The government's Alternative and Renewable Energy Policy 2019, along with initiatives to attract foreign investment, is expected to further stimulate the market. As of 2022, Pakistan has several operational wind power projects and additional projects under construction, indicating a growing commitment to expanding its wind energy capacity. The market's growth is also supported by the cost-effectiveness of onshore wind energy, which remains one of the cheapest sources of electricity generation globally.
Pakistan Wind Energy 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 Installed Capacity and Forecast in MW, till 2027
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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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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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Pakistan Wind Energy Market Size FAQs
What is the current Pakistan Wind Energy Market size?
The Pakistan Wind Energy Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Pakistan Wind Energy Market?
Vestas Wind Systems A/S, China Three Gorges Corp, United Energy Group Limited , Goldwind International Holdings Ltd and General Electric Company are the major companies operating in the Pakistan Wind Energy Market.
