Renewable Energy Market- Egypt
Market Statistics
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Size in 2023: 25.2 TWH
Market Forecast in 2032: 38.43 TWH
Market Growth Rate: 38.43 TWH (2024-2032)
The Egypt renewable energy market size reached 25.2 TWH in 2023. Looking forward, IMARC Group expects the market to reach 38.43 TWH by 2032, exhibiting a growth rate (CAGR) of 4.50% during 2024-2032.
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Egypt Renewable Energy Market Trends:
The strategic push of the country towards diversifying its energy sources as well as reducing reliance on fossil fuels are the factors responsible for the growth of Egypt renewable energy market. Additionally, Egypt has significant potential for renewable energy generation with abundant natural resources, including strong solar radiation and favorable wind conditions. Initiatives like the introduction of feed-in tariffs and competitive tenders for large-scale solar and wind projects have attracted both local and foreign investments. The development of key infrastructure, like the Benban Solar Park, one of the largest solar power installations in the world, highlights the country’s commitment to renewable energy. Moreover, the need of the country to address rising energy demand, coupled with an escalating population and industrial sector, is accelerating the transition to cleaner, more sustainable energy sources.
Egypt Renewable Energy Market Scope and Growth Analysis:
The shift towards solar and wind power, with increasing integration of technology and innovation, augments Egypt renewable energy market. In addition to this, solar energy is leading the charge, with large-scale projects such as the Benban Solar Park, while smaller, decentralized solar solutions for residential and commercial use are gaining traction. Wind energy is also a key focus, particularly in the Gulf of Suez region, which offers significant wind energy potential.
Technological advancements in energy storage, such as battery systems, are enhancing the reliability as well as efficiency of renewable energy sources by addressing the intermittency issue. Furthermore, Egypt is exploring the integration of renewable energy with hydrogen production, as the government seeks to establish a green hydrogen economy to export clean energy, which is expected to drive Egypt renewable energy market in the coming years.
Egypt Renewable Energy Market Segmentation:
Type Insights:
- Hydro Power
- Wind Power
- Solar Power
- Bioenergy
- Others
End User Insights:
- Industrial
- Residential
- Commercial
Regional Insights:
- Greater Cairo
- Alexandria
- Suez Canal
- Delta
- Others
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Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant. Additionally, the report features detailed profiles of all major companies in the Egypt renewable energy industry.
Other Key Points Covered in the Report:
- COVID-19 Impact on the Market
- Porter's Five Forces Analysis
- Strategic Recommendations
- Market Dynamics
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
- Top Winning Strategies
- Recent Industry News
- Key Technological Trends & Development
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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