Market Size of South Africa Wind Energy Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Wind Energy Market Analysis
The wind energy market in South Africa is expected to grow at a CAGR of more than 3% during the forecast period.
COVID-19 negatively impacted the market in 2020. Currently. The market has reached pre-pandemic levels.
- Over the long term, increasing population, energy crisis, rising power demand, and auctioned wind energy projects will be the market's key drivers in the forecast period. With auctions for multiple projects and ambitious goals to achieve in the future, South Africa is investing significantly in the growth of wind energy.
- On the other hand, the high initial cost of wind energy installation, the development of new grid networks, and delays in new projects are expected to restrain the market.
- Nevertheless, Government Initiatives, favorable policies, and upcoming projects are likely to provide opportunities for the wind energy market during the forecast period.
