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Iran Renewable Energy Market Size (2024 - 2029)

The Iran renewable energy market is poised for significant expansion, driven by initiatives such as feed-in-tariffs for non-hydropower energy and a shift away from fossil fuels due to environmental concerns. Despite challenges like financing and international sanctions, the market's capacity is set to grow, particularly through hydro-power projects and solar energy expansion. Iran's potential to substantially increase its renewable energy share, especially in solar, presents a promising outlook for the market's future.

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Market Size of Iran Renewable Energy Industry

Iran Renewable Energy Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 10.00 %
Market Concentration Medium

Major Players

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*Disclaimer: Major Players sorted in no particular order

Iran Renewable Energy Market Analysis

The Iran renewable energy market is expected to grow at a CAGR of over 10% during the forecast period of 2020-2025. The primary driver of the market includes the feed-in-tariffs for non-hydropower energy and the increasing concerns over rising pollution from the consumption of fossil fuel. However, financing for renewable energy projects is expected to hinder the market growth. With the United States imposed sanctions on the Iranian trade sector, the construction of renewable projects is expected to be quite difficult.

  • Iran's renewable energy market is expected to be driven majorly by under-construction hydro-power projects, which is expected to add nearly 1650 megawatts to the country's total capacity, during the forecast period. Apart from hydro, Iran is also planning to expand its solar capacity, which would help Iranian renewable energy to grow further during the forecasting period.
  • According to the United States Energy Information Administration (EIA), Iran has the potential to increase its renewable energy share in its energy mix from around 1% in 2018 to 16% by 2030. Moreover, Iran is capable of producing 4.5-5.5 kilowatt-hour per square meter per day of solar energy. Considering EIA estimation and Iran's solar energy capability, there is a massive opportunity for the renewable energy market in the coming years.
  • Solar Energy is one of the prominent sectors of Iran's renewable sector. Iran has an average of around 280 sunny days and is expected to have immense potential for solar energy generation during the forecast period.

Iran Renewable Energy Industry Segmentation

The Iran renewable energy market report include:

Type
Hydropower
Wind
Solar
Others
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Iran Renewable Energy Market Size Summary

The Iran renewable energy market is poised for significant growth, driven by initiatives such as feed-in tariffs for non-hydropower energy and increasing environmental concerns over fossil fuel consumption. Despite challenges like financing and international sanctions affecting trade, the market is expected to expand, particularly through the development of hydro and solar energy projects. Iran's renewable energy sector is characterized by its potential to enhance its energy mix substantially, with solar energy playing a crucial role due to the country's favorable climatic conditions. The government's efforts to promote solar energy, including financial incentives, are expected to further stimulate market growth.

Hydropower remains a dominant force in Iran's renewable energy landscape, with ongoing projects set to increase the country's capacity significantly. The addition of new hydropower projects, alongside the existing infrastructure, underscores the sector's importance and sustainability. Solar energy, supported by the country's abundant sunshine, is also a key focus, with plans to expand capacity through various initiatives. The market is moderately consolidated, with several key players contributing to its development. Overall, the Iran renewable energy market is positioned for growth, leveraging its natural resources and governmental support to overcome existing challenges.

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Iran Renewable Energy Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Iran Renewable Energy Installed Capacity and Forecast in MW, till 2025

    3. 1.3 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

  2. 2. MARKET SEGMENTATION BY TYPE

    1. 2.1 Type

      1. 2.1.1 Hydropower

      2. 2.1.2 Wind

      3. 2.1.3 Solar

      4. 2.1.4 Others

Iran Renewable Energy Market Size FAQs

The Iran Renewable Energy Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)

KPV Solar GmbH, Durion Energy AG, Noursun Energy Aria, Mapna Group Company and International Persian Group are the major companies operating in the Iran Renewable Energy Market.

Iran Renewable Energy Market Report Snapshots

Iran Renewable Energy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)