Middle-East Renewable Energy Market Is Booming Worldwide | MASE, Enerwhere Sustainable Energy DMCC, Solarwind M.E
Renewables have a key role to play in the sustainable energy transition and the Middle-East renewable energy market is expected to grow at a CAGR of more than 8.2% in the forecast period of 2020-2025. Factors such as rapid population growth and ambitious industrial and economic expansion are resulting in a growing need for power and commitment of the government to obtain maximum energy from renewable and to reduce carbon emissions are expected to be significant contributors to the growth of the market. However, the relatively low oil prices are likely to have little effect on regional renewable energy plans, as auctions tend to push down prices for solar PV and other renewable technologies to levels that are competitive with oil and natural gas.
Top leading Manufacturers Profiled in Middle-East Renewable Energy Market Report are: MASE, Enerwhere Sustainable Energy DMCC, Solarwind M.E., Akuo Energy SAS, and Yellow Door Energy.
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- Solar energy in the Middle-East is expected to witness significant growth in the market as the solar energy and associated system's prices continue to fall, the Middle Eastern countries are on a path to paying more for solar power.
- The region recognizes the socio-economic benefits of renewable energy deployment, which is perceived as an opportunity for industrial diversification, new value-chain activities and technology transfer. Total investment in clean energy is expected to exceed USD 300 billion by 2050. And also up to 90GW of renewable energy capacity, mainly solar and wind power, is planned across the Middle-East region over the next 10 to 15 years, which in turn, likely to provide opportunities for growth in the market in the coming future.
Regional Analysis for Middle-East Renewable Energy Market:
For a comprehensive understanding of market dynamics, the global Middle-East Renewable Energy market is analyzed across key geographies namely the United States, Europe, China, Japan, Southeast Asia, India, Central & South America. Each of these regions is analyzed based on market findings across major countries in these regions for a macro-level understanding of the market.
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The United Arab Emirates (UAE) is Expected to Dominate in the market
- The United Arab Emirates (UAE) is the regions front runner in adopting renewables into its energy mix and the fastest growing market for renewables. The region is set to see a major acceleration in renewable energy deployment, majorly led by the United Arab Emirates.
- The country is also the largest and fastest-growing solar market in the region. The country boasts an attractive investment landscape that is likely to drive the growth of the solar energy sector in the country.
- At the end of 2019, the country's renewable energy installed capacity accounted for 1884 MW. Of that, solar energy was dominant in the United Arab Emirates. Among the Middle-East renewable energy installed capacity, the UAE accounted for about more than 50% of the regions total renewable energy installed capacity.
- In 2018, the United Arab Emirates had a 2% share of renewable energy in total electricity capacity. With upcoming and under construction renewable energy projects, The United Arab Emirates is expected to dominate in the market during the forecast period.
What is the Impact of Covid-19 Outbreak on the Middle-East Renewable Energy?
- Optimistic Scenario: COVID-19 is contained by May or June, With Normalcy returning to global operations through the End of Q2.
- Conservative Scenario: COVID-19 Remains Prevalent, with Continued Impacts Lasting into Q4.
- Estimated Impact of the Coronavirus (COVID-19) Epidemic on the Global Middle-East Renewable Energy.
- Middle-East Renewable Energy Market Size in 2021
- Corporate Strategy the Manufacturers Should Be Thinking About Right Now.
Frequently Asked Questions about the Middle-East Renewable Energy market:
- What are the recent developments and government policies?
- What are the top trends in the Middle-East Renewable Energy market?
- What is the growth rate of the market?
- Which Is the Most potential market segment?
- Which are the top industry players in the Middle-East Renewable Energy market?
- Which region would offer high growth for vendors in the market?
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