Who are the key players in Uzbekistan Renewable Energy Market?

JSC Uzbekgidroenergo, SkyPower Ltd, Masdar, Voltalia SA and TotalEnergies SE are the major companies operating in the Uzbekistan Renewable Energy Market. Read More

What years does this Uzbekistan Renewable Energy Market cover, and what was the market size in 2023?

In 2023, the Uzbekistan Renewable Energy Market size was estimated at 2.77 gigawatt. The report covers the Uzbekistan Renewable Energy Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Uzbekistan Renewable Energy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Uzbekistan Renewable Energy Market Size

Market Size of Uzbekistan Renewable Energy Industry

Uzbekistan Renewable Energy Market Summary

Study Period	2019 - 2029
Base Year For Estimation	2023
Market Volume (2024)	3.21 gigawatt
Market Volume (2029)	6.11 gigawatt
CAGR (2024 - 2029)	13.73 %
Market Concentration	High
Major Players *Disclaimer: Major Players sorted in no particular order

Uzbekistan Renewable Energy Market Analysis

The Uzbekistan Renewable Energy Market size in terms of installed base is expected to grow from 3.21 gigawatt in 2024 to 6.11 gigawatt by 2029, at a CAGR of 13.73% during the forecast period (2024-2029).

In the long term, upcoming solar and wind energy projects are likely to drive the country's renewable energy market.
On the other hand, project feasibility may be affected by site availability and resource utilization efficiency, which may hinder market growth during the forecast period.
Nevertheless, Uzbekistan's wind energy potential is expected to be significant, even though the nation still primarily relies on fossil fuels for electricity generation. Areas like Bukhara, Kungrad, Ak Bajtal, and Nukus are expected to be ideal for the development of wind energy. These regions should have wind speeds between 0.61 and 3.98 m/s and power densities between 1.74 and 88.55 W/m square. This offers sustainable opportunities for market expansion.

Uzbekistan Renewable Energy Industry Segmentation

Renewable energy sources include sources such as sunlight, wind, water movement, and geothermal heat that naturally replenish themselves on a human timescale. The market for renewable energy in Uzbekistan is growing quickly and is expected to reach a 40% share in renewable energy by 2030. Major investments in wind and solar projects, backed by goal alliances, are essential categories. The establishment of research institutions and innovation hubs is further enhancing technological breakthroughs. The evolution of the industry is driven by the need for a varied energy mix and growing energy demand. The scope and growth potential of the renewable energy industry in Uzbekistan are determined by components taken together.

The Uzbekistani renewable energy market is segmented into type (hydropower, solar, wind, and other types). The report offers the installed capacity and forecasts in capacity (MW) for all the above segments.

By Type
		Hydropower
		Solar
		Other Types

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Uzbekistan Renewable Energy Market Size Summary

Uzbekistan's renewable energy market is experiencing a gradual recovery, having rebounded to pre-pandemic levels after the setbacks caused by COVID-19. The market is anticipated to grow steadily, driven by government policies aimed at transitioning electricity generation from natural gas to renewable sources. Despite the abundance of energy resources, the government's focus remains primarily on hydropower, which continues to dominate the renewable sector. However, the potential for wind energy development in regions such as Nukus, Kungrad, Ak Bajtal, and Bukhara presents a significant opportunity for market expansion. The country's electricity generation is still heavily reliant on fossil fuels, but initiatives to harness wind energy could contribute to diversifying the energy mix.

The renewable energy landscape in Uzbekistan is characterized by substantial investments in hydropower, which accounts for the majority of the renewable installed capacity. The government has outlined plans to enhance hydropower infrastructure, including the construction of new plants and modernization of existing ones, aiming to significantly increase capacity by 2030. Additionally, the country is actively pursuing the development of solar and wind energy projects, with international partnerships and investments facilitating this transition. Notable projects include the development of large-scale wind farms and solar parks, supported by agreements with global energy companies. These efforts align with Uzbekistan's goal to increase the share of renewable energy in its electricity generation, contributing to a more sustainable and diversified energy future.

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Uzbekistan Renewable Energy Market Size - Table of Contents

1. MARKET OVERVIEW
1. 1.1 Introduction
2. 1.2 Uzbekistan Renewable Energy Installed Capacity and Forecast in MW Till 2029
3. 1.3 Renewable Energy Mix, 2023
4. 1.4 Recent Trends and Developments
5. 1.5 Government Policies and Regulations
6. 1.6 Market Dynamics
  1. 1.6.1 Drivers
    1. 1.6.1.1 Upcoming Solar and Wind Energy Projects
    2. 1.6.1.2 Government Initiatives Supporting Clean Energy Technology
  2. 1.6.2 Restraints
    1. 1.6.2.1 Lack of Site Availability and Financial Constraints
7. 1.7 Supply Chain Analysis
8. 1.8 PESTLE Analysis
9. 1.9 Investment Analysis
2. MARKET SEGMENTATION
1. 2.1 By Type
  1. 2.1.1 Hydropower
  2. 2.1.2 Solar
  3. 2.1.3 Other Types