Market Size of Egypt Solar Energy Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 8.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Egypt Solar Energy Market Analysis
The Egyptian solar market is expected to register a CAGR of more than 8% during the forecast period.
The market was negatively impacted by the outbreak of COVID-19 due to delays in ongoing and upcoming projects. Currently, the market has reached pre-pandemic levels.
- Factors such as supportive government policies and incentives for the solar sector and rapidly declining prices of solar modules are expected to drive the market.
- However, insufficient domestic manufacturing capacity of solar panels and related hardware and dependence on imports, which are subject to supply chain disruptions, are expected to restrain the growth of the market during the forecast period.
- The geography of Egypt consists of large tracts of uninhabited desert land in the Suez Peninsula and the western desert, with solar photovoltaic potential in excess of 2000 kWh/KWp/year. The maximum utilization of the natural geography and the high domestic solar potential of Egypt are expected to provide significant growth opportunities for the Egyptian solar market beyond the forecast period.
