MEA Wind Power Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 12.39 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA Wind Power Market Analysis
The Middle-East and Africa wind power market is expected to grow at a CAGR of approximately 12.39% during the forecast period. Factors such as the declining cost of generating wind energy are expected to drive the adoption of wind turbines, which in turn, is expected to increase the demand for wind power during the forecast period. Moreover, as countries are becoming increasingly concerned about climate change and the role of renewable energy in curtailing it, wind power is expected to increase its share in Middle-East and Africa market. However, increasing the adoption of alternate clean power sources such as solar and gas-fired power plants are expected to restrain the growth of the wind power market in the region.
- The onshore segment is expected to be the largest market during the forecast period in Middle-East and Africa, owing to increased onshore wind capacity additions, supported by reducing the cost of electricity generation from onshore wind projects.
- The technological advancements in efficiency and decrease in the production cost of offshore wind turbines is expected to create ample opportunity for the market players in Middle-East and Africa.
- In Middle-East and Africa, South Africa had the highest installed capacity in 2019 and is further expected to be the largest market during the forecast period bolstered by constant growth in wind power additions and upcoming wind power projects.
MEA Wind Power Market Trends
This section covers the major market trends shaping the MEA Wind Power Market according to our research experts:
Onshore Segment to Dominate the Market
- Onshore wind energy power generation technology has evolved over the last five years to maximize electricity produced per megawatt capacity installed, to cover more sites with lower wind speeds in Middle-East and Africa.
- During 2018, several governments in the Middle East & Africa re-confirmed their renewable and wind-specific targets. Kenya government, for example, announced a target of 100% renewable electricity by 2020. South Africa is expected to hold the fifth procurement round during 2019. The regional market leader in 2018, Egypt with 380 MW of net additions, is expected to hold further procurement round for onshore wind turbine power plants.
- Furthermore, in November 2019, Engie SA announced that the Ras Ghareb onshore wind farm, with 262.5 MW of installed capacity, in the Gulf of Suez, Egypt, has been grid-connected and commissioned. Hence, increased investments from international players is also expected to drive the onshore wind power segment during the forecast period.
- Moreover, decreasing cost of power generation and growing investments in the region are expected to drive the onshore wind turbine installation, which, in turn, is expected to drive the wind power market in Middle-East and Africa.
South Africa to Dominate the Market
- As of 2018, South Africa ranked first in wind energy generation among the Middle East & African countries, with a total installed capacity of 2,085 MW.
- The country's Renewable Energy Independent Power Procurement Program (REIPPP) is an example of a locally designed and implemented program for enabling the increased supply of renewable energy and combating climate change.
- By the end of June 2019, 3,366 MW of wind power had successfully been procured under South Africa's REIPPPP. Moreover, the South Africa Wind Energy Association (SAWEA) reaffirmed the industry's commitment to increase wind and renewable power generation, primarily for improving the country's ongoing social, environmental, and economic development.
- Hence, the government supportive initiatives and the country's ambition for green and clean energy are expected to have a positive market for the wind power market during the forecast period.
MEA Wind Power Industry Overview
The Middle-East and Africa wind power market is moderately fragmented. Some of the key players are Acciona Energia SA, Enel Green Power S.p.A., EDF SA, General Electric Company, and Siemens Gamesa Renewable Energy.
MEA Wind Power Market Leaders
Acciona Energia SA
Enel Green Power S.p.A
EDF SA
General Electric Company
Siemens Gamesa Renewable Energy
*Disclaimer: Major Players sorted in no particular order
MEA Wind Power Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Scope of the Study
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1.2 Market Definition
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1.3 Study Assumptions
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET OVERVIEW
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4.1 Introduction
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4.2 Wind Power Installed Capacity and Forecast in GW, until 2025
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4.3 Recent Trends and Developments
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4.4 Government Policies and Regulations
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4.5 Market Dynamics
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4.5.1 Drivers
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4.5.2 Restraints
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4.6 Supply Chain Analysis
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4.7 Porter's Five Forces Analysis
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4.7.1 Bargaining Power of Suppliers
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4.7.2 Bargaining Power of Consumers
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4.7.3 Threat of New Entrants
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4.7.4 Threat of Substitutes Products and Services
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4.7.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Location
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5.1.1 Onshore
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5.1.2 Offshore
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5.2 Geography
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5.2.1 South Africa
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5.2.2 Egypt
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5.2.3 Morocco
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5.2.4 Kenya
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5.2.5 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
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6.3.1 Wind Farm Operators
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6.3.1.1 Acciona Energia SA
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6.3.1.2 Mainstream Renewable Power Ltd.
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6.3.1.3 EDF SA
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6.3.1.4 Enel Green Power S.p.A.
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6.3.2 Equipment Suppliers
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6.3.2.1 Envision Energy
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6.3.2.2 General Electric Company
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6.3.2.3 Siemens Gamesa Renewable Energy
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6.3.2.4 Sulzon Energy Limited
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6.3.2.5 Xinjiang Goldwind Science & Technology Co. Ltd (Goldwind)
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6.3.2.6 Vestas Wind Systems AS
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
MEA Wind Power Industry Segmentation
The Middle-East and Africa wind power market report include:
| Location | |
| Onshore | |
| Offshore |
| Geography | |
| South Africa | |
| Egypt | |
| Morocco | |
| Kenya | |
| Rest of Middle-East and Africa |
MEA Wind Power Market Research FAQs
What is the current Middle-East and Africa Wind Power Market size?
The Middle-East and Africa Wind Power Market is projected to register a CAGR of 12.39% during the forecast period (2024-2029)
Who are the key players in Middle-East and Africa Wind Power Market?
Acciona Energia SA, Enel Green Power S.p.A, EDF SA, General Electric Company and Siemens Gamesa Renewable Energy are the major companies operating in the Middle-East and Africa Wind Power Market.
What years does this Middle-East and Africa Wind Power Market cover?
The report covers the Middle-East and Africa Wind Power Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Middle-East and Africa Wind Power Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
MEA Wind Power Industry Report
Statistics for the 2024 MEA Wind Power market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. MEA Wind Power analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
