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MENA Power and Energy Outlook and Growth Opportunities, 2024
Revenue from High Fossil Fuel Prices Drives Investment in Power Infrastructure
17-Apr-2024
South Asia, Middle East & North Africa
Market Outlook
PFFA-01-00-00-00
EG_2024_664
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
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)
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