Egypt Wind Energy Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 15.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Egypt Wind Energy Market Analysis
The wind energy market in Egypt is expected to grow at a CAGR of around 15% during the forecast period of 2020-2025. The primary driver for the market includes the government's efforts to have a low-cost, sustainable, and cleaner form of energy and thereby to reduce the growing carbon emissions. However, high installation costs associated with wind turbines compared to other renewable energy sources like solar are likely to hinder the market growth during the forecast period.
- As of 2018, Egypt's wind energy market has several under construction and planned wind energy projects, and this, in turn, is likely to drive the market during the forecast period.
- Due to its geographical location, Egypt is estimated to have one of the largest offshore wind potentials in the world. The Red Sea region of the country is expected to have a power density of around 300-800 W/m2 (watt per meter square), at a mean wind speed of around 6-10 m/s. Red sea region, along with the Mediterranean sea portion of the country, is estimated to have about 13 GW (gigawatt)of wind capacity. Moreover, the Egyptian government is planning to increase the renewable energy share in the electricity mix to around 42% by 2035, which is likely to create an opportunity for the wind energy market to grow in the near future.
- The availability of fossil fuel and the growth in other renewable energy sources is likely to restrict the market growth during the forecast period. The majority of the electricity generated during 2018, was from natural gas.
Egypt Wind Energy Market Trends
This section covers the major market trends shaping the Egypt Wind Energy Market according to our research experts:
Upcoming Wind Power Projects to Drive the Market
- Egypt wind energy is one of the prominent segments under the renewable sector that holds nearly 1375 MW of installed capacity as of 2019. With an increase in demand for cleaner energy, the segment is expected to grow further with the addition of new wind projects installations.
- As of 2018, around 11 wind projects were planned and are under the different stages of implementation. The total installed capacity of the projects is expected to exceed 4000 MW.
- A 2000 megawatts wind energy installation project by Siemens Gamesa, is one of the prominent under-development projects in Egypt, which is likely to get commissioned by 2023. The project is expected to be the largest wind energy project in the country.
- Thus, the completion of the aforementioned projects is expected to expand Egypt's wind energy installed capacity and is likely to increase its share in the renewable energy mix during the forecast period.
Development in Fossil Fuel Power Projects is Likely to Restrain the Market Growth
- Egypt's power generation market highly relies on natural gas. As of 2018, the country generated 160.9 terawatt-hours of electricity from natural gas, which holds a share of around 80% of the total electricity generation.
- The country has domestic natural gas production of around 58.6 billion cubic meters (bcm) in 2018 and imported around 3.2 bcm of natural gas from various nations around the globe.
- The domestic gas produced and imported is largely used for electricity generation. The transition to move completely towards renewable electricity is on its marks but simultaneous development in natural gas projects is likely to hinder the market to a certain extent during the forecast period.
- Moreover, during 2018 the country holds nearly 75.5 trillion cubic meters of proven natural gas reserves. An increase in electricity demand is likely to utilize natural gas reserves for power generation in the near future.
Egypt Wind Energy Industry Overview
The Egypt wind energy market is moderately consolidated. Some of the key players in the market include Engie SA, Lekela Power B.V., SGS SA, Ras Ghareb Wind Energy S.A.E, and Eurus Energy Holdings Corporation.
Egypt Wind Energy Market Leaders
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Engie SA
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SGS SA
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Ras Ghareb Wind Energy S.A.E
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Eurus Energy Holdings Corporation
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Lekela Power B.V.
*Disclaimer: Major Players sorted in no particular order
Egypt Wind Energy Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Scope of the Study
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1.2 Market Definition
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1.3 Study Assumptions
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2. EXECUTIVE SUMMARY
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3. RESEARCH METHODOLOGY
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4. MARKET OVERVIEW
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4.1 Introduction
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4.2 Egypt Wind Energy Installed Capacity and Forecast in MW, till 2025
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4.3 Egypt Renewable Energy Mix, 2019
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4.4 Recent Trends and Developments
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4.5 Government Policies and Regulations
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4.6 Market Dynamics
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4.6.1 Drivers
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4.6.2 Restraints
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4.7 Supply Chain Analysis
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4.8 PESTLE Analysis
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5. COMPETITIVE LANDSCAPE
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5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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5.2 Strategies Adopted by Leading Players
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5.3 Company Profiles
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5.3.1 Engie SA
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5.3.2 Lekela Power B.V.
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5.3.3 SGS SA
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5.3.4 Ras Ghareb Wind Energy S.A.E.
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5.3.5 Eurus Energy Holdings Corporation
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- *List Not Exhaustive
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6. MARKET OPPORTUNITIES AND FUTURE TRENDS
Egypt Wind Energy Industry Segmentation
The Egypt wind energy market report includes:
Egypt Wind Energy Market Research FAQs
What is the current Egypt Wind Energy Market size?
The Egypt Wind Energy Market is projected to register a CAGR of greater than 15% during the forecast period (2024-2029)
Who are the key players in Egypt Wind Energy Market?
Engie SA, SGS SA, Ras Ghareb Wind Energy S.A.E, Eurus Energy Holdings Corporation and Lekela Power B.V. are the major companies operating in the Egypt Wind Energy Market.
What years does this Egypt Wind Energy Market cover?
The report covers the Egypt Wind Energy Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Egypt Wind Energy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Egypt Wind Energy Industry Report
Statistics for the 2024 Egypt Wind Energy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Egypt Wind Energy analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
