Egypt Renewable Energy Market Size (2024 - 2029)

The market size of the Egypt Renewable Energy sector is projected to expand due to supportive government regulations and increasing demand for solar energy. However, the slow development of energy infrastructure, limited land, and variable renewable energy sources' restricted power capacity could potentially impede this growth. Despite these challenges, the ambitious renewable energy targets are anticipated to generate significant opportunities for the market.

Market Size of Egypt Renewable Energy Industry

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Egypt Renewable Energy Market Summary
Study Period 2020-2029
Base Year For Estimation 2023
Market Volume (2024) 13.23 gigawatt
Market Volume (2029) 19.23 gigawatt
CAGR (2024 - 2029) 7.80 %
Market Concentration Medium

Major Players

Egypt Renewable Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Egypt Renewable Energy Market Analysis

The Egypt Renewable Energy Market size is estimated at 13.23 gigawatt in 2024, and is expected to reach 19.23 gigawatt by 2029, growing at a CAGR of 7.80% during the forecast period (2024-2029).

  • Over the medium period, factors such as supportive government regulations and growing demand for solar energy are expected to drive the Egypt renewable energy market during the study period.
  • On the other hand, the slow pace of energy infrastructure development, restricted land, and limited power capacity by variable renewable energy sources are expected to hinder the market growth during the study period.
  • Nevertheless, the ambitious renewable energy targets are likely to create immense opportunities for the Egypt renewable energy market during the forecast period.

Egypt Renewable Energy Industry Segmentation

Renewable energy is the energy collected from renewable resources such as sunlight, wind, water movement, and geothermal heat that are naturally replenished.

Egypt renewable energy market is segmented by type. By type, the market is segmented into hydropower, solar, wind, and other types. For each segment, the market sizing and forecasts have been done based on installed capacity.

Type
Hydro Power
Solar
Wind
Other Types

Egypt Renewable Energy Market Size Summary

The Egypt Renewable Energy Market is experiencing a period of significant growth, with a rising demand for solar energy being a major driver. This growth is further supported by government regulations and the country's ambitious renewable energy targets. However, the development of this market faces challenges such as a slow pace of energy infrastructure development, restricted land, and limited power capacity by variable renewable energy sources. Despite these barriers, the potential for solar energy production in Egypt is high, with the country being considered a sunbelt region with significant solar radiation. The government's supportive regulations and policies are expected to continue driving the market forward. The National Renewable Energy Strategy, for example, aims to increase the share of renewable energy in the national energy mix significantly. The government is also encouraging private investment and foreign direct investment in the market through various mechanisms. This, combined with a shift from a competitive bidding process to an auction-based process for large-scale solar PV and wind projects, is expected to further stimulate market growth. The market is semi-fragmented with key players including Vestas Wind Systems AS, Siemens Gamesa Renewable Energy SA, Scatec Solar ASA, SkyPower Ltd, New & Renewable Energy Authority, among others.

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Egypt Renewable Energy Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Renewable Energy Installed Capacity and Forecast, till 2029

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Supportive Government Regulations

        2. 1.5.1.2 Growing Demand for Solar Energy

      2. 1.5.2 Restraints

        1. 1.5.2.1 The Slow Pace of Energy Infrastructure Development and Restricted Land

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Hydro Power

      2. 2.1.2 Solar

      3. 2.1.3 Wind

      4. 2.1.4 Other Types

Egypt Renewable Energy Market Size FAQs

The Egypt Renewable Energy Market size is expected to reach 13.23 gigawatt in 2024 and grow at a CAGR of 7.80% to reach 19.23 gigawatt by 2029.

In 2024, the Egypt Renewable Energy Market size is expected to reach 13.23 gigawatt.

Renewable Energy in Egypt Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)