Egypt Wind Power Market Expected to Expand at a Steady CAGR through 2027

Egypt Wind Power Market Insights:

The market research offers historical and forecasts market data, demand, segmentation, price trends, and company shares of the leading players. The report splits the market size, by volume and value, on the basis of location, and application. First, this report covers the present status and the future prospects of the market over the forecast period. At the same time, we have classified the Egypt Wind Power Market according to the location, and application.

To know more about this market, request a sample https://www.gmiresearch.com/report/egypt-wind-power-market/sample-request

Egypt Wind Power Market drivers:

The growing focus of the government to have a sustainable, low-cost, and cleaner form of energy and the rising focus on reducing carbon emission in the country are certain factors driving the growth of the Egypt wind power market. Egypt wind energy has several under construction and planned wind energy projects will further boost the market demand during the forecast period. Owing to the geographic location of Egypt, it enjoys an excellent wind regime, particularly in the Suez Gulf, where the average wind speed reaches over 10m/second. In 2019, Egypt's government declared to produce 61,000MW of renewable energy, which includes 12,00MW concentrated solar power and 18,000 wind power. The 2035 Integrated Sustainable Energy Strategy emphasizes the significance of renewable energy. The government intends to increase electricity supply from renewable sources to 20% by 2022 and 42% by 2035. Moreover, in 2020, the Minister of Electricity and Renewable Energy, Mohamed Shaker, declared a new wind power complex with a capacity of 2,000 megawatts in the Red Sea governorate – of which 500 megawatts will be produced by Siemens.

The government is also aiming at constructing four wind power plants with a total installed capacity of 2,610 MW by 2023. These projects are being built co-operatively between the NREA and EETC and will be developed by international and Egyptian private-sector entities through either build-own-operate or EPC schemes. Thus, the increasing number of upcoming projects will fuel the demand for the wind power market in Egypt in the upcoming years. On the other hand, the availability of fossil fuels and the constant increase in renewable energy sources will hinder the growth of the market during the forecast period.

The study objectives of this report are:

  1. To analyze the global region’s market potential and advantages, opportunity and challenge, restraints, and risks.
  2. To identify significant trends and factors driving or inhibiting market growth.
  3. To analyze the opportunities in the market for stakeholders by identifying the high growth segments.

Request for Customization https://www.gmiresearch.com/report/egypt-wind-power-market/request-for-customization

Egypt Wind Power Market Segmentation:

By Location:

  • Onshore
  • Offshore

By Application:

  • Utility
  • Non-Utility

About GMI Research

GMI Research is a full-service market research and business-consulting organization that offers global as well as medium and small businesses with bespoke industry and market analysis to help them in making the toughest business decision. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients. GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use not only the internal but also the external databases to cull out relevant information of the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

For more information about this report visit https://www.gmiresearch.com/report/egypt-wind-power-market/

Contact GMI Research

Company Name: GMI RESEARCH
EUROPE OFFICE: Level 1, The Chase Carmanhall Road,
Sandyford Industrial Estate,
Dublin D18 Y3X2, Ireland
Email: enquiry@gmiresearch.com
Website: https://www.gmiresearch.com