Iran Wind Energy Market Size
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 7.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Iran Wind Energy Market Analysis
The Iranian wind energy market is expected to register a CAGR of more than 7% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.
- Over the medium term, factors such as increasing demand for renewable energy, rising investments in wind farms, government policies, and declining cost of wind energy are likely to drive the wind energy market in Iran.
- On the other hand, the increasing adoption of alternate clean power sources is likely to restrain the growth of the wind energy market in Iran in the coming years.
- Nevertheless, with the aim to reduce fossil-fuel consumption and increase the possibilities of sustainable development, the use of renewable energy is being explored in the country. The potential for renewable energy in Iran makes it attractive for the government sector, the private sector, and companies to shift toward clean energy, which, in turn, may provide an opportunity to increase the deployment of wind energy in the future.
Iran Wind Energy Market Trends
This section covers the major market trends shaping the Iran Wind Energy Market according to our research experts:
Onshore to Dominate the Market
- Iran has relied primarily on a fossil fuel-based energy sector to power its country. However, in the last decade, Iran took a few steps to decrease its dependency on fossil fuels by investing in renewable energy through wind power.
- As the demand for energy is rising, Iran is turning toward adopting renewable energy as it can provide clean energy. The adoption of onshore wind energy with advanced technology attracts companies for high investment.
- Iran's onshore wind power installed capacity increased by 0.6% in 2021. In 2021, the installed capacity of solar energy in Iran was 310 MW as compared to 2020, which was 308 MW.
- Wind energy in Iran has great potential. The 61.2 MW Sihapoush wind farm, located in the northwestern province of Qazvin, is the country's largest project.
- Manjil Wind Farm Site, Binalood Wind Farm Site, Zabol - Sistan, Babakoohi - Shiraz, Oun ebn-e-Ali-Tabriz, Sar Ein (Ardebil), Seffeh - Isfahan, Mahshahr, Nir, Sarab, Khaaf - Khorasan Razavi, Takestan, Nishabour - Binalood are some of the wind power plants operating in Iran.
- Owing to these factors, along with declining costs and improved technology, the onshore wing energy sector is expected to drive the market during the forecast period.
Increasing Deployment of Solar PV to Hinder the Growth of the Market
- Iran has vast solar energy potential, with around 300 clear sunny days in a year and an average potential yield of 4.5 to 5.5 kilowatt-hours per square meter per day.
- Solar PV installed capacity in Iran will increase by 6% in 2021. In 2021, the installed capacity of solar energy in Iran was 456 MW compared to 2020, which was 430 MW.
- Iran has shown interest in renewable energy technologies, including solar power, and is keen to exploit its abundant solar resource with newer technology.
- With the anticipated technological improvements and decreasing costs, investors/developers are expected to focus on the commercial viability of solar projects.
- In April 2022, Iran's Renewable Energy Organization and Electricity Efficiency (SATBA) launched a tender to deploy 4 GW of PV capacity. The agency wants to select proposals for solar projects up to 10 MW in size from domestic and foreign investors. Selected projects will be granted construction permits and a fixed tariff.
- Therefore, the increasing solar PV deployment is expected to hinder the market's growth.
Iran Wind Energy Industry Overview
Iran's wind energy market is highly consolidated in nature. Some of the key players in this market include (in no particular order) MAPNA Group, MahTaab Group, Vestas Wind Systems AS, Siemens Gamesa Renewable Energy SA, and General Electric Company.
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Iran Wind Energy Market Leaders
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MAPNA Group
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MahTaab Group
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General Electric Company
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Vestas Wind Systems AS
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Siemens Gamesa Renewable Energy SA
*Disclaimer: Major Players sorted in no particular order
Iran Wind Energy Market News
- In November 2022, the Iranian government increased private companies' guaranteed purchase prices for solar and wind power generated by 20-60% compared to 2021. Iran's Ministry of Energy announced a new directive to raise tariffs (for private sector producers) to encourage investment. The Ministry's new portal cited the press release issued by the state-run Renewable Energy and Energy Efficiency Organization (SATBA). The Ministry also noted that the latest prices for generating electricity from small-scale solar power stations (with less than 20-kilowatt capacity) have risen by 20% per kilowatt, reaching 6 cents/kWh.
- In January 2022, Iran's Ministry of Energy and the Energy Efficiency Organization (SATBA) signed an MoU (Memorandum of understanding) to carry out the plan to install an additional 10 GW of renewable energy capacity within the span of four years to deliver 30 GW of power generation capacity.
Iran Wind Energy Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Installed Capacity and Forecast in MW, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
5. COMPETITIVE LANDSCAPE
5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
5.2 Strategies Adopted by Leading Players
5.3 Company Profiles
5.3.1 MAPNA Group
5.3.2 MahTaab Group
5.3.3 Vestas Wind Systems AS
5.3.4 Siemens Gamesa Renewable Energy SA
5.3.5 General Electric Company
- *List Not Exhaustive
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
Iran Wind Energy Industry Segmentation
Wind energy is the energy obtained from the force of the wind. Wind energy describes the process of harnessing the wind to produce mechanical or electrical energy. It is the second-largest source of renewable energy production worldwide.
The Iranian wind energy market is segmented by technology type and end user. By technology type, the market is segmented into offshore and onshore, The end user includes industrial, commercial, and residential. The report also covers the market size and forecasts for the Iranian wind energy market. The market sizing and forecasts for each segment have been based on installed capacity megawatts capacity (MW).
Iran Wind Energy Market Research FAQs
What is the current Iran Wind Energy Market size?
The Iran Wind Energy Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Iran Wind Energy Market?
MAPNA Group , MahTaab Group , General Electric Company, Vestas Wind Systems AS and Siemens Gamesa Renewable Energy SA are the major companies operating in the Iran Wind Energy Market.
What years does this Iran Wind Energy Market cover?
The report covers the Iran Wind Energy Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Iran Wind Energy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Wind Energy in Iran Industry Report
Statistics for the 2024 Wind Energy in Iran market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Wind Energy in Iran analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Wind Energy Market in Iran Report Snapshots
