Market Size of Middle-East and Africa Wind Power Industry
| 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.
