Market Size of Pakistan Wind Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Pakistan Wind Energy Market Analysis
The market for wind energy in Pakistan is expected to record a CAGR of more than 5% in the forecast period 2022-2027. The COVID-19 pandemic led to temporary disruptions in the ongoing projects due to difficulties in sourcing raw materials and transportation of finished equipment. Apart from this, Pakistan saw a significant power surplus due to new generation and weaker than projected demand, in part due to the pandemic making wind energy projects unattractive temporarily. In terms of market growth, factors such as supportive government policies and efforts to meet power demand using renewables to decrease dependency on fossils are expected to drive the market. On the other hand, Pakistan currently has a significant dependency on coal-based and natural gas power generation and hydropower, which may lead to fewer investments in other renewable sources of energy, such as wind energy, which constituted about 2% of electricity generation in 2020 and may restrain the wind energy market.
Improvements in wind energy technology and the presence of abundant natural resources to harness wind energy are expected to drive the market.
The Pakistani government aims to achieve 30% of its electricity generation from renewables by 2030, excluding hydroelectricity. Such targets by the government are expected to create several opportunities for the wind energy market in the future.
Supportive policies and programs by the government of Pakistan and upcoming new projects are likely to propel the wind energy market in Pakistan.
