Market Size of Egypt Wind Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 15.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Egypt Wind Energy Market Analysis
The wind energy market in Egypt is expected to grow at a CAGR of around 15% during the forecast period of 2020-2025. The primary driver for the market includes the government's efforts to have a low-cost, sustainable, and cleaner form of energy and thereby to reduce the growing carbon emissions. However, high installation costs associated with wind turbines compared to other renewable energy sources like solar are likely to hinder the market growth during the forecast period.
- As of 2018, Egypt's wind energy market has several under construction and planned wind energy projects, and this, in turn, is likely to drive the market during the forecast period.
- Due to its geographical location, Egypt is estimated to have one of the largest offshore wind potentials in the world. The Red Sea region of the country is expected to have a power density of around 300-800 W/m2 (watt per meter square), at a mean wind speed of around 6-10 m/s. Red sea region, along with the Mediterranean sea portion of the country, is estimated to have about 13 GW (gigawatt)of wind capacity. Moreover, the Egyptian government is planning to increase the renewable energy share in the electricity mix to around 42% by 2035, which is likely to create an opportunity for the wind energy market to grow in the near future.
- The availability of fossil fuel and the growth in other renewable energy sources is likely to restrict the market growth during the forecast period. The majority of the electricity generated during 2018, was from natural gas.
