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Future Growth Potential to be Driven by Electrification Mandates and EU Exports
04-Apr-2023
Africa
Market Outlook
PE97-01-00-00-00
EG02311-AF-MO_27525
Universal access to electricity has been central to the African development story, with power being critical to the continent's economic growth. As more than 600 million people (or 44% of the population) lack access to electricity, Africa is racing to add capacity to electrify rural communities and secure baseload supply in urban and industrial zones.
This outlook study captures the status of the African power and energy industry and Frost & Sullivan's expectations from it in 2023 (based on its observation of key trends over the past few years and anticipated future trends). The study also explores the investment avenues available for market participants during Africa's electrification drive. In addition, it examines other opportunities likely to arise on the back of the continent's efforts in terms of decarbonization and the management of the evolving power demand.
Opportunities will arise due to a net capacity addition of more than 243 GW in the pipeline, easy access to financing for renewable projects, and several incentives earmarked to attract foreign investments. Strategic partnerships and local knowledge are not only critical factors for market success but are also legal requirements.
Key Issues Addressed
- What is the installed capacity of power generation assets in Africa, and what is the total market revenue potential?
- Which major trends are impacting the continent's power and energy industry?
- What growth opportunities are available for existing participants and new entrants?
- What is the market revenue potential for prominent African countries?
Top Predictions for 2023
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Power and Energy Industry
Growth Opportunities Fuel the Growth Pipeline EngineTM
Research Scope
Segments Included in the Study
Key Power and Energy Growth Themes
Key Growth Challenges Impacting the Power and Energy Industry
Major Trends Shaping the African Power and Energy Industry
The Great African Electrification Drive
SHSs, Mini Grids, Diesel Gensets, and the Growth of Distributed Generation
Diesel Generators: Installed Capacity across the Continent
Slow but Steady Growth of Utility-scale Renewables
Renewable Hotspots
Renewable Hotspots (continued)
Hydrogen for Export
Growth of Energy Storage Technologies
Hydropower: PSH and FPV to Takeoff, Given their Vast Potential
The War of Opportunities: The Africa-EU Partnership
Accelerated Growth of Pan-African Energy Infrastructure
Accelerated Growth of Pan-African Energy Infrastructure (continued)
Africa is Set to Become a Key Carbon Offset Market
Annual Power Generation Capacity Addition
Annual Power Generation Investment Forecast
Installed Power Generation Capacity Forecast
Power Generation Installed Capacity
Annual Power Generation Investments
Algerian Power and Energy Market Forecast
Algerian Power and Energy Market Discussion
South African Power and Energy Market Forecast
South African Power and Energy Market Discussion
Moroccan Power and Energy Market Forecast
Moroccan Power and Energy Market Discussion
Ghanaian Power and Energy Market Forecast
Ghanaian Power and Energy Market Discussion
Nigerian Power and Energy Market Forecast
Nigerian Power and Energy Market Discussion
Growth Opportunity 1: Establishing a Local Solar PV Value Chain
Growth Opportunity 1: Establishing a Local Solar PV Value Chain (continued)
Growth Opportunity 2: Micro Grid Systems for Data Centers
Growth Opportunity 2: Micro Grid Systems for Data Centers (continued)
Growth Opportunity 3: Energy Storage Value Chain
Growth Opportunity 3: Energy Storage Value Chain (continued)
Growth Opportunity 4: Energy Infrastructure—Energy Transition, Grid Expansion, and Modernization Investments
Growth Opportunity 4: Energy Infrastructure—Energy Transition, Grid Expansion, and Modernization Investments (continued)
Conclusions and Future Outlook
References and Acknowledgments
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
Legal Disclaimer
List of Figures
- Power and Energy Outlook: Annual SHS Shipment, Africa, 2022–2030
- Power and Energy Outlook: Growth of Mini Grids, Africa, 2022–2030
- Power and Energy Outlook: Installed Capacity of Diesel Generators, Africa, 2022
- Power and Energy Outlook: Annual Capacity Addition of Renewables, Africa, 2022–2030
- Power and Energy Outlook: Hydrogen Hotspots, Africa, 2022–2030
- Power and Energy Outlook: Energy Storage Projects, Africa, 2022–2030
- Power and Energy Outlook: Status of Energy Storage, Africa, 2022
- Power and Energy Outlook: PSH Projects, Africa, 2022
- Power and Energy Outlook: Upcoming FPV Projects, Africa, 2023–2030
- Power and Energy Outlook: Announced Interconnector Projects, Africa, 2022
- Power and Energy Outlook: Annual Capacity Addition by Fuel Type, Africa, 2022–2030
- Power and Energy Outlook: Investment by Fuel, Africa, 2022 and 2030
- Power and Energy Outlook: Annual Investment Forecast by Country, Africa, 2023
- Power and Energy Outlook: Installed Capacity by Fuel, Africa, 2022 and 2030
- Power and Energy Outlook: Installed Capacity by Country, Africa, 2023
- Power and Energy Outlook: Power Generation Installed Capacity by Country, Africa, 2022–2030
- Power and Energy Outlook: Power Investments by Country, Africa, 2022–2030
- Power and Energy Outlook: Power Generation Investment Forecast, Algeria, 2023–2030
- Power and Energy Outlook: Power Generation Capacity Addition Forecast, Algeria, 2022–2030
- Power and Energy Outlook: Power Generation Investment Forecast, South Africa, 2023–2030
- Power and Energy Outlook: Power Generation Capacity Addition Forecast, South Africa, 2022–2030
- Power and Energy Outlook: Power Generation Investment Forecast, Morocco, 2023–2030
- Power and Energy Outlook: Power Generation Capacity Addition Forecast, Morocco, 2022–2030
- Power and Energy Outlook: Power Generation Investment Forecast, Ghana, 2023–2030
- Power and Energy Outlook: Power Generation Capacity Addition Forecast, Ghana, 2022–2030
- Power and Energy Outlook: Power Generation Investment Forecast, Nigeria, 2023–2030
- Power and Energy Outlook: Power Generation Capacity Addition Forecast, Nigeria, 2022–2030
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Key Issues Addressed
- What is the installed capacity of power generation assets in Africa, and what is the total market revenue potential
- Which major trends are impacting the continent's power and energy industry
- What growth opportunities are available for existing participants and new entrants
- What is the market revenue potential for prominent African countries
| Deliverable Type | Market Outlook |
|---|---|
| Author | Saraswathi Venkatesan |
| Industries | Energy |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Energy Industry Outlook 2023 |
| Keyword 2 | Energy Market Forecast |
| Keyword 3 | Africa Energy Investment |
| List of Charts and Figures | Power and Energy Outlook: Annual SHS Shipment, Africa, 2022–2030~ Power and Energy Outlook: Growth of Mini Grids, Africa, 2022–2030~ Power and Energy Outlook: Installed Capacity of Diesel Generators, Africa, 2022~ Power and Energy Outlook: Annual Capacity Addition of Renewables, Africa, 2022–2030~ Power and Energy Outlook: Hydrogen Hotspots, Africa, 2022–2030~ Power and Energy Outlook: Energy Storage Projects, Africa, 2022–2030~ Power and Energy Outlook: Status of Energy Storage, Africa, 2022~ Power and Energy Outlook: PSH Projects, Africa, 2022~ Power and Energy Outlook: Upcoming FPV Projects, Africa, 2023–2030~ Power and Energy Outlook: Announced Interconnector Projects, Africa, 2022~ Power and Energy Outlook: Annual Capacity Addition by Fuel Type, Africa, 2022–2030~ Power and Energy Outlook: Investment by Fuel, Africa, 2022 and 2030~ Power and Energy Outlook: Annual Investment Forecast by Country, Africa, 2023~ Power and Energy Outlook: Installed Capacity by Fuel, Africa, 2022 and 2030~ Power and Energy Outlook: Installed Capacity by Country, Africa, 2023~ Power and Energy Outlook: Power Generation Installed Capacity by Country, Africa, 2022–2030~ Power and Energy Outlook: Power Investments by Country, Africa, 2022–2030~ Power and Energy Outlook: Power Generation Investment Forecast, Algeria, 2023–2030~ Power and Energy Outlook: Power Generation Capacity Addition Forecast, Algeria, 2022–2030~ Power and Energy Outlook: Power Generation Investment Forecast, South Africa, 2023–2030~ Power and Energy Outlook: Power Generation Capacity Addition Forecast, South Africa, 2022–2030~ Power and Energy Outlook: Power Generation Investment Forecast, Morocco, 2023–2030~ Power and Energy Outlook: Power Generation Capacity Addition Forecast, Morocco, 2022–2030~ Power and Energy Outlook: Power Generation Investment Forecast, Ghana, 2023–2030~ Power and Energy Outlook: Power Generation Capacity Addition Forecast, Ghana, 2022–2030~ Power and Energy Outlook: Power Generation Investment Forecast, Nigeria, 2023–2030~ Power and Energy Outlook: Power Generation Capacity Addition Forecast, Nigeria, 2022–2030~ |
| Podcast | No |
| WIP Number | PE97-01-00-00-00 |
African Power and Energy Outlook—2023
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