Market Size of UAE Power Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 4.20 % |
| Market Concentration | Medium |
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?
UAE Power Market Analysis
The United Arab Emirates Power Market size is expected to grow from 56.50 gigawatts in 2023 to 69.40 gigawatts by 2028, registering a CAGR of 4.20% during the forecast period (2023-2028).
- Over the medium term, the country's power market is largely driven by factors such as the increase in power demand due to the rising population, the increasing adoption of renewable energy, and the expansion of power transmission projects.
- On the other hand, the lack of privatization in the power sector has created bottlenecks in the growth of the United Arab Emirates power market, resulting in a lack of investments by independent companies to upgrade the country's power infrastructure.
- Nevertheless, the United Arab Emirates Clean Energy Strategy 2050 had set the target of around 50% electricity supply from nuclear and renewable sources by 2050. The country has recognized nuclear power as one of the significant opportunities to achieve its net-zero emission goals in the long run.
