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Egypt Wind Energy Market Size (2024 - 2029)

The wind energy market in Egypt is poised for significant expansion, driven by governmental initiatives aimed at promoting sustainable and low-cost energy solutions to mitigate carbon emissions. Despite the high installation costs of wind turbines compared to other renewable sources like solar, the market's potential is bolstered by numerous under construction and planned projects. Egypt's strategic geographical position, particularly in the Red Sea and Mediterranean regions, offers substantial offshore wind capacity. The government's commitment to increasing the renewable energy share in the electricity mix presents further opportunities for market growth, although the availability of fossil fuels and the development of other renewable sources may pose challenges.

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Market Size of Egypt Wind Energy Industry

Egypt Wind Energy Market - Market Summary
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

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*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 Industry Segmentation

The Egypt wind energy market report includes:

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Egypt Wind Energy Market Size Summary

The wind energy market in Egypt is poised for significant growth, driven by government initiatives aimed at promoting sustainable and cost-effective energy solutions to mitigate carbon emissions. Despite the high installation costs of wind turbines compared to other renewable sources like solar energy, the market is supported by several under-construction and planned projects. Egypt's strategic geographical location, particularly the Red Sea and Mediterranean regions, offers substantial offshore wind potential, which is expected to contribute to the market's expansion. The government's ambition to increase the renewable energy share in the electricity mix to a substantial percentage by a specified year is anticipated to create further opportunities for wind energy development.

The wind energy sector in Egypt, with a notable installed capacity, is expected to grow as new projects are implemented, including a significant installation by Siemens Gamesa. This project is set to be the largest in the country, further boosting Egypt's wind energy capacity and its contribution to the renewable energy mix. However, the market's growth may face challenges due to the country's heavy reliance on natural gas for electricity generation, which currently dominates the energy landscape. The ongoing development of natural gas projects could potentially impede the transition to renewable energy, although the completion of wind projects is likely to enhance the sector's presence in Egypt's energy portfolio. The market is moderately consolidated, with key players actively participating in the sector's development.

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Egypt Wind Energy Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Egypt Wind Energy Installed Capacity and Forecast in MW, till 2025

    3. 1.3 Egypt Renewable Energy Mix, 2019

    4. 1.4 Recent Trends and Developments

    5. 1.5 Government Policies and Regulations

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

      2. 1.6.2 Restraints

    7. 1.7 Supply Chain Analysis

    8. 1.8 PESTLE Analysis

Egypt Wind Energy Market Size FAQs

The Egypt Wind Energy Market is projected to register a CAGR of greater than 15% during the forecast period (2024-2029)

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.

Egypt Wind Energy Market Report Snapshots

Egypt Wind Energy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)