Market Size of UAE Renewable Energy Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 8.00 % |
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 Renewable Energy Market Analysis
The United Arab Emirates renewable energy market is expected to register CAGR of around 8% during the forecast period.
In 2020, COVID-19 negatively impacted the market. Presently, the market is likely to reach pre-pandemic levels.
- Over the medium term, the government's policies in favor of the development of the renewable energy sector are likely to boost the number of renewable energy system installations in the country.
- On the other hand, as nuclear power and natural gas use rise, there will be a lot of competition, which is likely to slow market growth during the forecast period.
- Still, the market has a lot of chances to take advantage of the new funding options that are helping to speed up the commercialization of renewable energy. As an example, in addition to conventional project financing, the sector is witnessing financial innovation to help facilitate and provide the investments required in the long term.
