North Africa Renewable Energy Market Size And Forecast
The North African renewable energy market is poised for significant growth, with an estimated value of $12.05 billion in 2024 and projected to reach $23.49 billion by 2032, driven by a compound annual growth rate (CAGR) of 8.7% from 2026 to 2032.
North Africa Renewable Energy Market Dynamics
Key Market Drivers
Key Challenges
Key Trends
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North Africa Renewable Energy Market Regional Analysis
A closer look at the North Africa renewable energy market reveals a diverse range of opportunities across various countries. Morocco, for instance, has set ambitious targets to increase its renewable energy production, aiming to generate 42% of its electricity from solar power by 2030. Egypt, on the other hand, is investing heavily in wind energy, with plans to develop 5 GW of new capacity by 2023. The country's ambition to become a major player in the region's renewable energy landscape has been driven by its commitment to reduce greenhouse gas emissions and meet its international climate commitments.
Morocco:
Egypt:
North Africa Renewable Energy Market: Segmentation Analysis
The North Africa Renewable Energy Market is poised for significant growth, driven by increasing demand for sustainable energy solutions. This market is segmented into two primary categories: Technology and Application.

Technology-wise, the market can be categorized into Solar, Wind, Hydro, Geothermal, and Bioenergy. The solar segment holds a prominent share of 32%, followed closely by wind power with an 18% market share. Hydroelectric power accounts for 14%, while geothermal energy contributes around 10%. Bioenergy makes up the remaining 26%.

In terms of Application, the market can be segmented into Power Generation, Water Supply, and Irrigation. The power generation segment dominates the market, accounting for approximately 67% of the total share. This is attributed to the increasing demand for electricity from industrial, commercial, and residential sectors.

The North Africa Renewable Energy Market is expected to reach USD 14.8 billion by 2025, growing at a CAGR of 12.2% during the forecast period. The governments in North African countries are implementing policies and regulations that support the adoption of renewable energy sources, thereby driving growth in this market.
North Africa Renewable Energy Market, By Technology
The Middle Eastern market has diversified into five primary segments: Solar, Wind, Hydropower, Geothermal, and Biomass. Notably, solar power has garnered significant traction due to the region's abundant sunlight, with Morocco, Egypt, and Tunisia making substantial investments in large-scale projects. Solar energy now holds a considerable share of the region's renewable capacity, accounting for over 3,000 hours of sunshine annually. This ideal climate renders solar power the most competitive and scalable renewable energy source. In contrast, wind energy is rapidly expanding, particularly in Egypt and Morocco, where favorable coastal conditions and arid landscapes are driving growth. Average wind speeds of 7-9 meters per second in critical regions have led to the integration of wind power into the energy mix, with both countries aiming to boost installed capacity through aggressive development plans over the coming years.
North Africa Renewable Energy Market, By Application
The global market is segmented into Utility-scale, Residential, Commercial, Industrial, and Off-grid segments. Utility-scale projects hold the largest share, with large-scale solar and wind farms forming the backbone of the region's energy plan, accounting for approximately 70% of total installations. These projects are driven by economies of scale, significant investments, and government incentives, which support the growing demand for renewable energy.

On the other hand, the off-grid segment is experiencing rapid expansion, primarily due to the need to provide electricity to isolated and rural areas with limited access to centralized power. Solar household systems and mini-grids are gaining popularity as a cost-effective solution to enhance energy access and improve livelihoods in underserved regions, with an estimated 25% of off-grid installations expected by 2025.
Key Players
The North Africa Renewable Energy Market is characterized by a diverse landscape of companies, with many established players vying for market share. Notable entities include ACWA Power, ENGIE Group, EDP Renovaveis, S.A. (EDPR), Enel Green Power S.p.A., Masdar (Abu Dhabi Future Energy Company PJSC), Voltalia SA, NAREVA Holding S.A., Alcazar Energy Partners, Scatec ASA, and EDF (Electricité de France) Renewables.

This comprehensive section offers an in-depth examination of these companies' profiles, including market positioning, regional presence, industry reach, and ACE Matrix assessments. Furthermore, a thorough financial analysis is conducted to provide insight into the operational performance and growth prospects of each player in the North Africa Renewable Energy Market.
In our comprehensive market research, a dedicated segment is allocated to examining the financial standing and strategic approaches of prominent industry participants. Our analysts provide an in-depth look at their product offerings, while also assessing the strengths, weaknesses, opportunities, and threats (SWOT analysis) that influence their position within the market.

This section also delves into key development strategies employed by these major players, along with a detailed analysis of their global market share and ranking. By examining these critical factors, we can gain valuable insights into how they navigate the competitive landscape and establish themselves as leaders in their respective markets.
North Africa Renewable Energy Market Recent Developments
Report Scope
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As we approach the new year, it's essential to consider the trends, challenges, and opportunities that lie ahead. Here are a few key points to keep in mind:

* The global economy is expected to continue growing, with an estimated 3.2% growth rate in 2024 (Source: IMF).
* Technology advancements will play a significant role in shaping industries such as healthcare, finance, and education.
* Sustainability and climate change will remain top priorities for governments, businesses, and individuals worldwide.
* The global population is projected to reach 9.7 billion by 2050, with significant implications for food security, water management, and urban planning (Source: UN).

These are just a few examples of the many factors that will influence the world in 2024. As we look ahead, it's crucial to stay informed, adapt to changing circumstances, and work towards creating a better future for all.
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Renewable energy leaders are working together to drive innovation and sustainability in the sector.

ACWA Power has partnered with ENGIE Group to promote the adoption of renewable energy solutions worldwide. Meanwhile, EDP Renovaveis, S.A. (EDPR) is investing heavily in wind energy projects across Europe. Enel Green Power S.p.A., on the other hand, is focusing on solar power to meet growing global demand.

Masdar (Abu Dhabi Future Energy Company PJSC), a key player in Abu Dhabi's renewable energy landscape, is committed to reducing carbon emissions. Voltalia SA and NAREVA Holding S.A. are also playing crucial roles in the transition to clean energy. Alcazar Energy Partners is working closely with Scatec ASA to develop sustainable projects, while EDF (Electricité de France) Renewables is driving innovation in wind energy technology.

These partnerships demonstrate a shared commitment to creating a more sustainable future for generations to come.
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Research Methodology of The Research Insights:
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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What is the projected market size & growth rate of the North Africa Renewable Energy Market?
What are the key driving factors for the growth of the North Africa Renewable Energy Market?
What are the top players operating in the North Africa Renewable Energy Market?
What segments are covered in the North Africa Renewable Energy Market report?
How can I get a sample report/company profiles for the North Africa Renewable Energy Market?
                   
                                                    


                            
                            

                                             

             Frequently Asked Questions About This Report
            
                                                                

                                    

                                      
                                            

                                                1What is the projected market size & growth rate of the North Africa Renewable Energy Market?
                                            
                                    
                                    
                                    

                                        

                                            
North Africa Renewable Energy Market was valued at USD 12.05 Billion in 2024 and is projected to reach USD 23.49 Billion by 2032, growing at a CAGR of 8.7% from 2026 to 2032.
                                        
                                    
                                
                                                                

                                    

                                      
                                            

                                                2What are the key driving factors for the growth of the North Africa Renewable Energy Market?
                                            
                                    
                                    
                                    

                                        

                                            
The North Africa Renewable Energy Market is driven by abundant solar and wind resources, government incentives, energy diversification, rising electricity demand, foreign investments, declining technology costs, grid modernization, and climate commitments.
                                        
                                    
                                
                                                                

                                    

                                      
                                            

                                                3What are the top players operating in the North Africa Renewable Energy Market?
                                            
                                    
                                    
                                    

                                        

                                            
The major players are ACWA Power, ENGIE Group, EDP Renovaveis, S.A. (EDPR), Enel Green Power S.p.A., Masdar (Abu Dhabi Future Energy Company PJSC), Voltalia SA, NAREVA Holding S.A., Alcazar Energy Partners, Scatec ASA, and EDF (Electricité de France) Renewables.
                                        
                                    
                                
                                                                

                                    

                                      
                                            

                                                4What segments are covered in the North Africa Renewable Energy Market report?
                                            
                                    
                                    
                                    

                                        

                                            
The North Africa Renewable Energy Market is segmented on the basis of Technology and Application.
                                        
                                    
                                
                                                                

                                    

                                      
                                            

                                                5How can I get a sample report/company profiles for the North Africa Renewable Energy Market?
                                            
                                    
                                    
                                    

                                        

                                            
The sample report for the North Africa Renewable Energy Market can be obtained on demand from the website. Also, the 24*7 chat support & direct call services are provided to procure the sample report.