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South Africa Wind Energy Market Size (2024 - 2029)

The wind energy market in South Africa is poised for growth, driven by factors such as an increasing population, energy crises, and rising power demand, alongside auctioned wind energy projects. Despite challenges like high initial installation costs, the need for new grid networks, and project delays, the market has rebounded to pre-pandemic levels. Government initiatives, favorable policies, and upcoming projects are expected to offer significant opportunities, contributing to the expansion of the market size during the forecast period.

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Market Size of South Africa Wind Energy Industry

South Africa Wind Energy Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2021 - 2022
CAGR > 3.00 %
Market Concentration Low

Major Players

South Africa Wind Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

Wind Energy Market Analysis

The wind energy market in South Africa is expected to grow at a CAGR of more than 3% during the forecast period.

COVID-19 negatively impacted the market in 2020. Currently. The market has reached pre-pandemic levels.

  • Over the long term, increasing population, energy crisis, rising power demand, and auctioned wind energy projects will be the market's key drivers in the forecast period. With auctions for multiple projects and ambitious goals to achieve in the future, South Africa is investing significantly in the growth of wind energy.
  • On the other hand, the high initial cost of wind energy installation, the development of new grid networks, and delays in new projects are expected to restrain the market.
  • Nevertheless, Government Initiatives, favorable policies, and upcoming projects are likely to provide opportunities for the wind energy market during the forecast period.

Wind Energy Industry Segmentation

The wind energy market refers to using wind energy resources for electricity generation. Wind energy is harnessed by wind turbines that channel the power of the wind to produce electricity. A wind turbine consists of three blades: a rotor and a generator. The electricity generated by a wind turbine is fed into the grid for its consumption by an end-user.

The South African wind energy market is segmented by location - (onshore and offshore). The market sizing and forecasts for each segment have been done based on Installed Capacity (in MW) during the forecast period.

Location
Onshore
Offshore
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South Africa Wind Energy Market Size Summary

The wind energy market in South Africa is poised for growth, driven by factors such as an increasing population, energy crises, and rising power demand. The country is making significant investments in wind energy projects, supported by government initiatives and favorable policies. Despite challenges like high initial installation costs and project delays, the market is expected to benefit from upcoming projects and international involvement, which have contributed to a reduction in the levelized cost of energy (LCOE) for wind power. Onshore wind energy is set to dominate the market, with substantial capacity additions planned under the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). These developments are anticipated to address load shedding issues and contribute to the country's energy mix.

South Africa's Integrated Resource Plan envisions a significant increase in wind power capacity, aiming to add substantial megawatts by 2030. The government's commitment to renewable energy is evident in initiatives like the REIPPPP, which has seen increased allocations for wind energy projects. The market is characterized by a mix of local and international players, with major companies such as Nordex SE, Vestas Wind Systems AS, and Siemens Gamesa Renewable Energy SA actively participating. Recent bid windows have opened opportunities for independent power producers to contribute to the country's wind energy capacity, further enhancing the market's growth prospects. As South Africa continues to focus on renewable energy, the wind energy sector is expected to play a crucial role in meeting the country's energy demands.

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South Africa Wind Energy Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Renewable Energy Mix, 2020

    3. 1.3 Installed Capacity and Forecast in MW, till 2027

    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

    1. 2.1 Location

      1. 2.1.1 Onshore

      2. 2.1.2 Offshore

South Africa Wind Energy Market Size FAQs

The South Africa Wind Energy Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Electricite de France SA , Enel S.p.A , Nordex SE, Vestas Wind Systems A/S and Siemens Gamesa Renewable Energy SA are the major companies operating in the South Africa Wind Energy Market.

Wind Energy Market in South Africa Report Snapshots

Wind Energy Market in South Africa Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)