Market Size of Tunisia Power Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 7.70 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Tunisia Power Market Analysis
The Tunisian power market installed 6312.84 MW of capacity in 2020, and it is expected to reach 11316.94 MW by 2027, registering a CAGR of 7.7% during the forecast period of 2022-2027. Due to the COVID-19 pandemic, the electricity demand in Tunisia registered a significant reduction. According to STEG, about 60% to 65% of electricity demand comes from economic sectors, like industry, services, and agriculture, while the rest comes from residential demand. Thus, with most businesses temporarily closed due to the lockdown, there was a 20% reduction in the overall electricity demand during April 2020 compared to the same month in 2019. Factors, such as the increasing participation of private players in the market, are likely to drive the Tunisian power market. However, energy security challenges such as strong dependence on natural gas and imports are expected to have a negative impact on the Tunisian power market.
- The conventional thermal power segment dominated the market in 2020 and is likely to dominate the market in the future as well. While more than 40% of the natural gas used for power generation is produced in the country, the rest of the 60% of gas is imported.
- The Tunisian government is making an effort to produce 30% of the total electricity from renewables by 2030. This is likely to create several opportunities for the market in the future.
- The increasing participation of private players in the country is likely to drive the Tunisian power market during the forecast period. In 2020, the Société Tunisienne de l'Electricité et du Gaz (STEG) signed a partnership agreement with Qair for a pilot project for a floating photovoltaic solar farm of a capacity of 200kV, on the lake of Tunis.
