Power and Energy in the Middle East Outlook, 2023

Power and Energy in the Middle East Outlook, 2023

The EU Export Opportunity to Drive Power Investments

RELEASE DATE
20-Apr-2023
REGION
South Asia, Middle East & North Africa
Research Code: PE26-01-00-00-00
SKU: EG02316-SA-MO_27590
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Description

Russia’s war on Ukraine has unlocked unprecedented growth opportunities for the Middle East as Europe steers away from Russia for energy supply. The European Union’s commitment to end its reliance on Russian energy by 2027 and its focus on renewables and hydrogen offer ME countries a strong business case for energy investments, given that the region has recorded among the lowest levelized cost of energy (LCOE) in renewable power production globally. Also, climate change commitments and economic diversification efforts to transform Gulf Corporation Council (GCC) countries into industrialized economies will drive power and energy investments.

This report covers the ME’s growth environment for the energy and power industry, highlighting trends throughout the value chain and discussing certain developments that impact the industry. Forecasts and analyses rely on 2030 country-specific targets, unveiled power projects (or those in progress), and Frost & Sullivan's calculations of the energy generation necessary to fulfill a country's demand for electricity. The forecast period's (2023–2030) total achievable revenue denotes the market potential for all industry participants.

With capacity additions happening at an accelerated pace, easy access to financing for renewable projects, and several incentives earmarked to attract foreign investments, this is a market that requires strategic partnerships and critical local market knowledge—both as a legal requirement and as a critical factor determining success.

Key Issues Addressed

  • What is the installed capacity of power generation assets in the region, and what is the total market revenue potential?
  • What are the major trends impacting the energy industry in the region?
  • What are the growth opportunities available for new entrants and existing players?
  • What is the market revenue potential in prominent countries in the region?

Table of Contents

Research Scope

What Does the Power Sector Outlook Report Cover?

Primary Metrics: What Has Changed?

Analysis Highlights

Predictions for 2023

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the ME Power and Energy Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Opportunities for ME Created by the Russo-Ukrainian War: EU LNG/Oil

ME Power and Energy Industry Investment Growth Drivers

The Drive for Local Manufacturing

ME Power and Energy Industry: Primary Market Trends

ME Power and Energy Industry: Primary Market Trends (continued)

ME Power and Energy Industry: Primary Market Trends (continued)

International Energy Partnerships and Export Potential

High-voltage Projects and Regional Interconnectivity for Energy xports

Becoming a Hydrogen Hub

Becoming a Hydrogen Hub (continued)

Surge in Solar PV

Nuclear Power will Provide Energy Security

Grid Investments to Improve Efficiencies

Digitalization of Assets to Boost ROI

Digitalization for Decarbonization

Energy Efficiency Path to Net Zero

VRFB Energy Storage for Grid Reliability

Decentralized Power Generation for Decarbonization

Carbon Sequestration, Storage, and Utilization

Carbon Exchanges to Promote Power Investments

G2V-V2G and Grid Stability

Sustainable DC

Decarbonized Desalination

Biofuels and SAF

Net-zero Transition through WTE

Annual Power Generation Investment Forecast

Installed Power Generation Capacity Forecast

Annual Power Generation Capacity Additions

Annual Power Generation Capacity Addition by Country

Annual Power Generation Investment by Country

Power Generation Investment Outlook

Power Generation Investment Outlook (continued)

Egypt Power and Energy Market Forecast

Egypt Power and Energy Market

KSA Power and Energy Market Forecast

KSA Power and Energy Market

UAE Power and Energy Market Forecast

UAE Power and Energy Market

Kuwait Power and Energy Market Forecast

Kuwait Power and Energy Market

Qatar Power and Energy Market Forecast

Qatar Power and Energy Market

Israel Power and Energy Market Forecast

Israel Power and Energy Market

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

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

Growth Opportunity 2: Hydrogen Infrastructure

Growth Opportunity 2: Hydrogen Infrastructure (continued)

Growth Opportunity 3: Energy Consumption Management

Growth Opportunity 3: Energy Consumption Management (continued)

Growth Opportunity 4: Regional Interconnectivity

Growth Opportunity 4: Regional Interconnectivity (continued)

Growth Opportunity 5: Operation and Maintenance (O&M) Services

Growth Opportunity 5: Operation and Maintenance (O&M) Services (continued)

Conclusions and Future Outlook

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

Russia’s war on Ukraine has unlocked unprecedented growth opportunities for the Middle East as Europe steers away from Russia for energy supply. The European Union’s commitment to end its reliance on Russian energy by 2027 and its focus on renewables and hydrogen offer ME countries a strong business case for energy investments, given that the region has recorded among the lowest levelized cost of energy (LCOE) in renewable power production globally. Also, climate change commitments and economic diversification efforts to transform Gulf Corporation Council (GCC) countries into industrialized economies will drive power and energy investments. This report covers the ME’s growth environment for the energy and power industry, highlighting trends throughout the value chain and discussing certain developments that impact the industry. Forecasts and analyses rely on 2030 country-specific targets, unveiled power projects (or those in progress), and Frost & Sullivan's calculations of the energy generation necessary to fulfill a country's demand for electricity. The forecast period's (2023–2030) total achievable revenue denotes the market potential for all industry participants. With capacity additions happening at an accelerated pace, easy access to financing for renewable projects, and several incentives earmarked to attract foreign investments, this is a market that requires strategic partnerships and critical local market knowledge—both as a legal requirement and as a critical factor determining success.--BEGIN PROMO--

Key Issues Addressed

  • What is the installed capacity of power generation assets in the region, and what is the total market revenue potential
  • What are the major trends impacting the energy industry in the region
  • What are the growth opportunities available for new entrants and existing players
  • What is the market revenue potential in prominent countries in the region
More Information
Author Saraswathi Venkatesan
Industries Energy
No Index No
Is Prebook No
Keyword 1 Energy Industry Outlook 2023
Keyword 2 Energy Forecast
Keyword 3 Energy Industry Trends
Podcast No
WIP Number PE26-01-00-00-00