MENA Power and Energy Outlook and Growth Opportunities, 2024

MENA Power and Energy Outlook and Growth Opportunities, 2024

Revenue from High Fossil Fuel Prices Drives Investment in Power Infrastructure

RELEASE DATE
17-Apr-2024
REGION
South Asia, Middle East & North Africa
Deliverable Type
Market Outlook
Research Code: PFFA-01-00-00-00
SKU: EG_2024_664
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Description

This Frost & Sullivan study assesses the power and energy industry in the Middle East and North Africa (MENA). It broadly classifies MENA countries into 3 groups. The first group comprises most of the Gulf states, which have high levels of investment relative to their population size because the governments can fund power investment from oil and gas wealth. These countries will continue to rely heavily on natural gas for power, but they will increase investment in renewables, particularly utility-scale solar PV. The second group includes a mix of large economies, such as Egypt, which has significant gas reserves but a large population that is still underserved in terms of power, Turkey, which has faced some investment challenges but is returning to stronger economic growth, and smaller medium-income countries, such as Morocco and Oman. The third group includes failing states, such as Iraq, Libya, Yemen, Syria, and Lebanon, which remain largely dependent on gensets and invest minimally in power infrastructure due to a lack of funds.

The study analyzes the top 5 country markets in detail, namely Egypt, Israel, Saudi Arabia, Turkey, and UAE, and it offers data for power generation investment forecast and power generation installed capacity and electricity generated. In addition, it examines the top predictions for 2024 and evaluates important industry dynamics, including natural gas’s dominance, the rapid acceleration of solar PV investment, and the growing focus on grid modernization and regional interconnectivity.

The study also considers the most important growth opportunities for the industry during the forecast period, including the decarbonization of desalination and the energy infrastructure interconnection opportunities in the Gulf region.

The study period is from 2023 to 2035, and the base year is 2023.

Author: Jonathan Robinson

Table of Contents

Top Predictions for 2024

Top 5 Country Markets, 2023–2035

State of Play for Clean Power, 2023

State of Play for Clean Power, 2035

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the MENA Power and Energy Industry

Research Scope

Energy Sources the Study Covers

Important Industry Dynamics

Trend 1: Natural Gas’s Dominance

Trend 1: Natural Gas’s Dominance (continued)

Trend 2: Rapid Acceleration of Solar PV Investment

Trend 2: Rapid Acceleration of Solar PV Investment (continued)

Trend 3: Focus on Grid Modernization and Regional Interconnectivity

Trend 3: Focus on Grid Modernization and Regional Interconnectivity (continued)

Trend 4: Increased Investment in Digital Power

Trend 4: Increased Investment in Digital Power (continued)

Trend 5: Competitive Conditions Driving Hydrogen Investment

Trend 5: Competitive Conditions Driving Hydrogen Investment (continued)

Trend 6: CCUS’s Importance in Regional Decarbonization

Trend 6: CCUS’s Importance in Regional Decarbonization (continued)

MENA Power and Energy Industry Investment Forecast

Power Generation Capacity Forecast

Power Generation Installed Capacity and Electricity Generated

Annual Power Generation Investment by Country

Annual Power Generation Investment by Country (continued)

Egypt: Power Generation Investment Forecast

Egypt: Power Generation Industry Analysis

Egypt: Power Generation Installed Capacity and Electricity Generated

Israel: Power Generation Investment Forecast

Israel: Power Generation Industry Analysis

Israel: Power Generation Installed Capacity and Electricity Generated

Saudi Arabia: Power Generation Investment Forecast

Saudi Arabia: Power Generation Industry Analysis

Saudi Arabia: Power Generation Installed Capacity and Electricity Generated

Turkey: Power Generation Investment Forecast

Turkey: Power Generation Industry Analysis

Turkey: Power Generation Installed Capacity and Electricity Generated

UAE: Power Generation Investment Forecast

UAE: Power Generation Industry Analysis

UAE: Power Generation Installed Capacity and Electricity Generated

Growth Opportunity 1: Solar PV: Establish a Presence in the Solar Value Chain

Growth Opportunity 1: Solar PV: Establish a Presence in the Solar Value Chain (continued)

Growth Opportunity 2: Energy Infrastructure Interconnection Opportunities in the Gulf Region

Growth Opportunity 2: Energy Infrastructure Interconnection Opportunities in the Gulf Region (continued)

Growth Opportunity 3: Decarbonization of Desalination

Growth Opportunity 3: Decarbonization of Desalination (continued)

Key Conclusions and Future Outlook

Partial List of Abbreviations and Acronyms

Best Practices Recognition

Frost Radar

Benefits and Impacts of Growth Opportunities

Next Steps

Take the Next Step

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

This Frost & Sullivan study assesses the power and energy industry in the Middle East and North Africa (MENA). It broadly classifies MENA countries into 3 groups. The first group comprises most of the Gulf states, which have high levels of investment relative to their population size because the governments can fund power investment from oil and gas wealth. These countries will continue to rely heavily on natural gas for power, but they will increase investment in renewables, particularly utility-scale solar PV. The second group includes a mix of large economies, such as Egypt, which has significant gas reserves but a large population that is still underserved in terms of power, Turkey, which has faced some investment challenges but is returning to stronger economic growth, and smaller medium-income countries, such as Morocco and Oman. The third group includes failing states, such as Iraq, Libya, Yemen, Syria, and Lebanon, which remain largely dependent on gensets and invest minimally in power infrastructure due to a lack of funds. The study analyzes the top 5 country markets in detail, namely Egypt, Israel, Saudi Arabia, Turkey, and UAE, and it offers data for power generation investment forecast and power generation installed capacity and electricity generated. In addition, it examines the top predictions for 2024 and evaluates important industry dynamics, including natural gas s dominance, the rapid acceleration of solar PV investment, and the growing focus on grid modernization and regional interconnectivity. The study also considers the most important growth opportunities for the industry during the forecast period, including the decarbonization of desalination and the energy infrastructure interconnection opportunities in the Gulf region. The study period is from 2023 to 2035, and the base year is 2023. Author: Jonathan Robinson
More Information
Deliverable Type Market Outlook
Author Jonathan Robinson
Industries Energy
No Index No
Is Prebook No
Podcast No
WIP Number PFFA-01-00-00-00