Romania Power Market Size (2024 - 2029)

The Romania power market is projected to experience significant growth over the forecast period, driven by an increasing demand for renewable energy, forthcoming investments, and supportive policies. Despite challenges such as high initial costs and limited natural resources, the market's expansion is bolstered by substantial government investment plans aimed at enhancing the power sector. These developments are expected to create substantial opportunities, influencing the overall market size positively in the coming years.

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Market Size of Romania Power Industry

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Romania Power Market - Market Summary
Study Period 2020-2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR (2024 - 2029) 5.66 %
Market Concentration Medium

Major Players

Romania Power Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Romania Power Market Analysis

The Romania Power Market size is estimated at 19.02 gigawatt in 2024, and is expected to reach 25.04 gigawatt by 2029, growing at a CAGR of 5.66% during the forecast period (2024-2029).

  • Over the medium period, factors such as the growing demand for renewable energy, upcoming investments in the energy sector, and supportive renewable energy policies drive the market's growth.
  • On the other hand, the high initial investment cost, long investment return period on projects, and limited natural resources are expected to restrain the Romanian power market during the forecast period.
  • Nevertheless, the Romanian government announced plans to invest over EUR 22.6 billion (USD 26.7 billion) in the power sector between 2020-2030. This is expected to create immense opportunities for the Romanian power market in the future.

Romania Power Industry Segmentation

The power market includes the process of generation of electricity through various sources like fossil fuels, renewable energies, nuclear energy, etc., and the transmission and distribution of electricity to the end user.

The Romania power market is segmented by source and power transmission and distribution (T&D). By source, the market is segmented into thermal, nuclear, hydropower, renewables, and other sources (natural gas and oil). For each segment, the market sizing and forecasts are based on installed capacity, except for power transmission and distribution (T&D), for which only qualitative analysis will be provided.

Source
Thermal
Renewables
Hydropower
Nuclear
Other Sources (Natural Gas and Oil)
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Romania Power Market Size Summary

The Romanian power market is poised for significant growth over the forecast period, driven by increasing demand for renewable energy and substantial investments in the energy sector. The government's commitment to invest over EUR 22.6 billion in the power sector by 2030 is expected to create substantial opportunities. While the market is currently dominated by hydrocarbon energy sources, there is a notable shift towards renewable energy, particularly hydropower and solar energy. Romania's hydropower potential remains largely untapped, with ongoing projects expected to enhance capacity significantly. The collaboration between Romania and Bulgaria on Danube hydropower projects exemplifies the country's strategic focus on expanding its renewable energy infrastructure.

Supportive government policies play a crucial role in advancing Romania's renewable energy sector, aligning with European Union obligations on greenhouse gas emissions. The Integrated National Plan for Energy and Climate Change outlines ambitious targets for solar and wind capacities by 2030. The introduction of Contracts for Difference (CfD) is anticipated to stabilize electricity prices, mitigating market volatility risks and encouraging investment. Key players in the moderately fragmented market, such as Romelectro SA, Enel SpA, and Siemens Gamesa Renewable Energy SA, are actively involved in various projects, including agrivoltaic parks and nuclear power plant developments. These initiatives, alongside international investments, underscore the dynamic evolution of Romania's power market.

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Romania Power Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Romania Installed Power Generation and Forecast, till 2028

    3. 1.3 Romania Energy Mix 2022

    4. 1.4 Recent Trends and Developments

    5. 1.5 Government Policies and Regulations

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

        1. 1.6.1.1 Growing Demand for Renewable Energy

        2. 1.6.1.2 Upcoming Investments in the Energy Sector and Supportive Renewable Energy Policies

      2. 1.6.2 Restraints

        1. 1.6.2.1 High Initial Investment Cost and Long Investment Return Period on Projects

    7. 1.7 Supply Chain Analysis

    8. 1.8 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Source

      1. 2.1.1 Thermal

      2. 2.1.2 Renewables

      3. 2.1.3 Hydropower

      4. 2.1.4 Nuclear

      5. 2.1.5 Other Sources (Natural Gas and Oil)

    2. 2.2 Power Transmission and Distribution (T&D)

Romania Power Market Size FAQs

The Romania Power Market size is expected to reach 19.02 gigawatt in 2024 and grow at a CAGR of 5.66% to reach 25.04 gigawatt by 2029.

In 2024, the Romania Power Market size is expected to reach 19.02 gigawatt.

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