Market Size of Algeria Power Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 8.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Algeria Power Market Analysis
The market for Algeria Power is expected to register a CAGR of greater than 8.5% in the forecast period of 2020-2025. Factors, such as encouraging government policies, rapid acceptance of domestic solar and wind energy, and pressure to meet power demand due to the increasing population, coupled with rising urbanization expected to drive the Algeria Power Market during the forecast period. Moreover, with the commitment of the government, by 2030, the country intends to have 37% of its installed capacity and 27% of the electricity production intended for domestic consumption from renewables. Additionally, approximately 9 million customers are connected to the country's electricity network. The length of the electricity transportation network in the country reached 100% in 2019, representing an increase of 240% compared to the length in 2000. On the other hand, with the absence of any new initiatives, the falling interest of investors in 2019, and limited land and limited power capacity by solar and wind energy, hindrance in the growth of the Algeria power market is expected.
- As world start shifting toward renewable energy and country start witnessing a decrease in oil and gas production since 2014, rising domestic consumption and increasing environmental awareness, solar energy has come to occupy a prominent role in the development of the country's energy mix in recent years. Renewable energy is likely to dominate the Algeria power market.
- With Renewable Energy Target (RET) of 2030, Algeria was aiming to achieve a 27% renewable share in electricity generation. This, in turn, government policy is likely to provide a better opportunity to the Algeria power market in coming near future.
- Algeria has many ambitious renewable projects lined up. With enormous solar energy potential, the country is ready to take a leap in the renewable market. Strong government support to solar power industry likely to drive the Algeria power market during the forecast period.
