Turkey Renewable Energy Market Size And Forecast
The Turkish renewable energy sector is poised for significant growth, with a valuation of $12.53 billion in 2024. Over the forecast period, it is expected to expand to $27.45 billion by 2032, driven by an impressive compound annual growth rate (CAGR) of 10.3% from 2026 to 2032.
Turkey Renewable Energy Market Dynamics
Key Market Drivers:
Key Challenges:
Key Trends:
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Turkey Renewable Energy Market Regional Analysis
A closer look at the Turkish renewable energy market reveals diverse regional dynamics that contribute to its overall growth prospects.

The Mediterranean region, which spans from the Aegean Sea to the Black Sea coast, accounts for approximately 30% of Turkey's total renewable energy production. This area boasts a favorable climate and extensive coastline, making it an ideal location for solar farms and offshore wind projects. The city of Bodrum, in particular, has seen significant investments in renewable energy infrastructure due to its high solar irradiance levels.

The Aegean region, encompassing the western coast of Turkey, is home to numerous hydroelectric power plants that generate around 15% of the country's electricity. The most prominent dam in this area is the Güneşli Dam, which has a capacity of approximately 420 MW and is operated by the Turkish State Electric Power Company (TEPAS). Additionally, several wind farms are being developed in the region to capitalize on its strong and consistent winds.

The Eastern Mediterranean region, including provinces like Trabzon and Gaziantep, presents opportunities for geothermal energy production. Turkey has set a goal of generating 2% of its electricity from geothermal sources by 2023, with significant investments planned in the coming years to achieve this target.

While regional disparities
Turkey Renewable Energy Market: Segmentation Analysis
The Turkey renewable energy market can be categorized into three primary segments: Type, End-User, and Geography.

The market for solar energy in Turkey is expected to reach 2.8 GW by 2025, growing at a CAGR of 22.1% during the forecast period. The country's ambitious renewable energy targets are driving growth in the sector, with solar power accounting for 10% of total electricity generation capacity.

Wind energy, on the other hand, is also gaining traction in Turkey, with a capacity of 1.2 GW expected by 2025. The end-user segment includes residential, commercial, and industrial sectors, each with distinct requirements and opportunities.

Geographically, Turkey's renewable energy market can be divided into four regions: Western Anatolia, Central Anatolia, Eastern Anatolia, and Mediterranean Region. Each region presents unique challenges and opportunities for growth, with the West being the largest contributor to the country's renewable energy production.
Turkey Renewable Energy Market, By Type
Turkey's renewable energy market is diversified across four primary segments: Hydro, Wind, Solar, and Geothermal. The hydroelectric segment remains the largest contributor, accounting for around 20% of Turkey's total electricity output in 2022. With an installed capacity of 31.5 GW, this long-standing energy source plays a vital role in Turkey's renewable plan due to its favorable geographical location and abundant water resources.

In contrast, solar energy has been witnessing rapid growth, with its installed capacity expected to surge from 6.7 GW in 2020 to 9.2 GW by 2022. This notable increase can be attributed to Turkey's high solar potential, averaging approximately 2,737 hours of sunshine per year. As a result, solar energy has become an increasingly attractive and expanding source of clean energy for the country.
Turkey Renewable Energy Market, By End-User
The market is segmented into four key end-user segments: Residential, Commercial, Industrial, and Utility. Notably, the utility segment takes the lead due to substantial investments in wind, solar, and hydroelectric power projects. Government incentives and long-term agreements play a pivotal role in financing large-scale renewable energy projects, which constitute a substantial portion of total installed capacity.

In contrast, the residential segment is experiencing accelerated growth, driven by an increasing number of homeowners opting for solar panels to reduce energy expenses and achieve energy independence. The Turkish government's initiatives, such as net metering for household solar, have further fueled this expansion.
Key Players
The Turkish renewable energy market is characterized by its diverse landscape, featuring a multitude of players vying for dominance. Several prominent companies have established themselves in this sector, including EÜAŞ (Electricity Generation Company of Turkey), ENKA, Enerjisa, Eren Enerji, Çelikler Holding, Cengiz Enerji, and İÇDAŞ, among others.
This section delves into an in-depth examination by providing a comprehensive overview of the company's operations, market position, geographical presence, and competitor analysis using the ACE matrix. It also delivers a detailed analysis of the financial performance of each player in the specified market, giving stakeholders valuable insights to inform their strategic decisions.
As part of our comprehensive market research, we conduct in-depth analysis of major industry players to provide valuable insights into their financial performance, product offerings, and market positioning. This section offers a detailed assessment of each player's strengths and weaknesses, including SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis, allowing for a nuanced understanding of the competitive landscape.

Our analysts scrutinize key players' financial statements, product benchmarking, and strategic initiatives to identify trends, opportunities, and challenges. This information is crucial in evaluating market share, ranking, and overall competitiveness among major players globally.
Turkey Renewable Energy Market Recent Developments
Report Scope
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As we look ahead to the future, it's essential to consider how our individual choices can contribute to a more sustainable world. According to the United Nations, there are currently over 9 billion people on Earth, with that number projected to reach 11.2 billion by 2050 (1). This presents both opportunities and challenges for creating a better future.

One area where individuals can make a significant impact is through their consumption habits. With the average person producing around 4.7 tons of waste per year, reducing our individual carbon footprint is crucial (2). Simple changes, such as using public transport or carpooling, can greatly reduce emissions and support cleaner energy production.

Another key area for improvement is in food production and distribution. With the global population projected to reach 9 billion by 2050 (3), finding ways to increase food efficiency and reduce waste is essential. This can involve adopting more sustainable agricultural practices, such as reducing water usage and promoting crop rotation.

Education and awareness are also critical components of creating a better future. As we continue to evolve as a society, it's essential that we prioritize learning and growth, not only for ourselves but also for future generations (4).

In conclusion, while there are many challenges ahead, individual actions can collectively lead to
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Turkey's leading energy sector players include:

EÜAŞ (Electricity Generation Company of Turkey) is a state-owned company responsible for electricity generation. The company has 34 power plants, with an installed capacity of 16 GW.

ENKA Group, a diversified conglomerate, has interests in various sectors including construction, infrastructure, and renewable energy.

Enerjisa Energy is a leading provider of electricity distribution services, covering over 95% of Turkey's electricity supply. The company serves over 6 million customers with an installed capacity of 15 GW.

Eren Enerji is a subsidiary of Çelikler Holding and engages in coal-fired power generation, operating six power plants with an installed capacity of 2.8 GW.

Çelikler Holding is another conglomerate with diverse interests, including energy, construction, and industry. The company's Çelikler Energy Division operates two coal-fired power plants with an installed capacity of 1.4 GW.

Cengiz Enerji is a leading provider of electricity generation services, operating six power plants with an installed capacity of 3.8 GW. The company has also developed several renewable energy projects.
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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.
• 6-month post-sales analyst support.
Frequently Asked Questions
What is the projected market size & growth rate of the Turkey Renewable Energy Market?
What are the key driving factors for the growth of the Turkey Renewable Energy Market?
What are the top players operating in the Turkey Renewable Energy Market?
What segments are covered in the Turkey Renewable Energy Market report?
How can I get a sample report/company profiles for the Turkey Renewable Energy Market?
                   
                                                    


                            
                            

                                             

             Frequently Asked Questions About This Report
            
                                                                

                                    

                                      
                                            

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

                                        

                                            
Turkey Renewable Energy Market was valued at USD 12.53 Billion in 2024 and is projected to reach USD 27.45 Billion by 2032, growing at a CAGR of 10.3% from 2026 to 2032.
                                        
                                    
                                
                                                                

                                    

                                      
                                            

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

                                        

                                            
Increasing Government Support and Ambitious Renewable Targets, Growing Energy Demand and Import Dependency Reduction are the factors driving the growth of the Turkey Renewable Energy Market.
                                        
                                    
                                
                                                                

                                    

                                      
                                            

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

                                        

                                            
The major players are EÜAŞ (Electricity Generation Company of Turkey), ENKA, Enerjisa, Eren Enerji, Çelikler Holding, Cengiz Enerji, and İÇDAŞ.
                                        
                                    
                                
                                                                

                                    

                                      
                                            

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

                                        

                                            
The Turkey Renewable Energy Market is segmented on the basis of Type, End-User and Geography.
                                        
                                    
                                
                                                                

                                    

                                      
                                            

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

                                        

                                            
The sample report for the Turkey 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.