Equatorial Guinea Power Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Equatorial Guinea Power Market Analysis
The Equatorial Guinea power market is expected to grow at a CAGR of over 4% during the forecast period of 2020-2025. Factors such as increasing demand for electricity and investment in the sector are likely to drive the power market in the country during the forecast period. However, underdeveloped transmission and distribution infrastructure, accounting for electricity access to only 67% of the population (in 2018) in the country, is expected to impede growth in the sector.
- The hydropower segment is the fastest-growing segment and is likely to dominate the market in the forecast period. Increasing investment into the sector and increasing the power generation by hydropower plants is expected to aid the growth in the market.
- The country is investing in small scale hydro and solar projects. An increase in renewable projects with decreasing dependence upon fossil fuel can become an opportunity for the players in the power market.
- The increasing installation of different power projects, with a heavy focus on the hydro projects in the country, is likely to drive the Equatorial Guinea power market in the forecast period.
Equatorial Guinea Power Market Trends
This section covers the major market trends shaping the Equatorial Guinea Power Market according to our research experts:
Hydro Power to Dominate the Market
- Hydro Power is the power that is generated from the flow of water and converted into electrical energy. As of 2019, hydropower accounted for around 32.5% of power generation capacity in the country. With the addition of new hydropower projects, it is expected to continue to dominate the market during the forecast period.
- In 2019, the 200 MW Sendje project is being constructed on the Wele river in Equatorial Guinea. When completed, the project is expected to be the largest among all the country's generating installations, and its 63 m-high concrete dams will be among the highest in Africa.
- In 2018, the completion of the Djibloho hydropower plant by Power Construction Corporation of China in Equatorial Guinea was expected to create a capacity of approximately 120-MW in the country. It is the largest hydropower plant of its kind in the country.
- Therefore, it is likely that hydropower is expected to dominate the Equatorial Guinea power market in the forecast period.
Increasing Investments to Drive the Market
- An increase in investment and rising consumption in the country are expected to provide growth in the market. Although the country heavily relies on the oil and gas sector, many new renewable power projects are underway.
- The electricity access to the country's population has increased slightly from 66.04% in 2014 to 67.03 % in 2018. However, the government plans to increase the utility grid coverage, which is expected to provide growth to the power market.
- In 2018, Wartsila Oyj Abp was awarded a 38-megawatt (M.W.) power plant project in Equatorial Guinea. The project is financially sponsored by the Ministry of Hydrocarbons with the intention to boost the development of the local industry.
- A 24 MW Wartsila Oyj Abp power plant located in Bata, the country's largest city, in 2019, provides thermal production of energy for continental Equatorial Guinea. The plant is based on thermal energy and uses gas as the primary fuel.
- Hence, increasing investments and upcoming power plant projects are expected to drive the Equatorial Guinea power market in the forecast period.
Equatorial Guinea Power Industry Overview
The Equatorial Guinea power market is consolidated. Some of the key players in this market include Wartsila Oyj Abp, Power Construction Corporation of China, Sociedad de Electricidad de Guinea Ecuatorial, and Indra Sistemas, S.A.
Equatorial Guinea Power Market Leaders
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Wärtsilä Oyj Abp
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Power ConstructionCorporation of China
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Sociedad de Electricidad de Guinea Ecuatorial
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Indra Sistemas, S.A.
*Disclaimer: Major Players sorted in no particular order
Equatorial Guinea Power 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 Electricity Production and Consumption Forecast, in KWh, till 2025
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4.3 Recent Trends and Developments
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4.4 Government Policies and Regulations
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4.5 Market Dynamics
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4.5.1 Drivers
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4.5.2 Restraints
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4.6 Supply Chain Analysis
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4.7 PESTLE Analysis
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5. MARKET SEGEMENTATION
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5.1 Power Generation
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5.1.1 Thermal
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5.1.2 Hydro
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5.1.3 Others
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5.2 Transmission and Distribution
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
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6.2 Strategies Adopted by Key Players
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6.3 Key Companies Profile
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6.3.1 Wärtsilä Oyj Abp
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6.3.2 Power Construction Corporation of China
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6.3.3 Sociedad de Electricidad de Guinea Ecuatorial
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6.3.4 Indra Sistemas, S.A.
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7. MARKET OPPORTUNITIES and FUTURE TRENDS
Equatorial Guinea Power Industry Segmentation
The Equatorial Guinea power market report includes:
Equatorial Guinea Power Market Research FAQs
What is the current Equatorial Guinea Power Market size?
The Equatorial Guinea Power Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Equatorial Guinea Power Market?
Wärtsilä Oyj Abp , Power ConstructionCorporation of China, Sociedad de Electricidad de Guinea Ecuatorial and Indra Sistemas, S.A. are the major companies operating in the Equatorial Guinea Power Market.
What years does this Equatorial Guinea Power Market cover?
The report covers the Equatorial Guinea Power Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Equatorial Guinea Power Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Equatorial Guinea Power Industry Report
Statistics for the 2024 Equatorial Guinea Power market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Equatorial Guinea Power analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
