East Africa Renewable Energy Market Size Valuable Growth Pro...| MENAFN.COM

Friday, 02 December 2022 10:09 GMT

East Africa Renewable Energy Market Size Valuable Growth Prospects, Size, Share, Demand And Current Trends Analysis 2022-2031


(MENAFN- America News Hour)

The East Africa renewable energy market is expected to grow at a CAGR of more than 6.5% over the period. Factors such as an increase in environmental awareness and regulations and decreasing cost per kilowatt of electricity generated are expected to boost the market. However, the high price of renewable energy relative to fossil fuels is expected to restrain the market.

– The hydropower segment is expected to remain the largest segment in the market as dams have been built across East Africa. Most of the renewable hydro capacity has been constructed in Ethiopia and Mozambique.
– New models of solar cells made of a thin film technology that uses narrow coatings of cadmium telluride in solar cells, which has higher efficiency and lower cost, may prove to be an opportunity in the sector.
– Ethiopia is expected to have the largest share of renewable energy among the nations in the forecast period due to its significant consumption of electricity and government focus to decrease dependence on imported fossil fuel. The country is also expected to invest in renewable energy projects, which is likely to aid in the growth of the market.

Get a Sample PDF Report Here:

Key Market Trends

Hydropower Segment to Dominate the Market

– Hydropower Segment includes the different sized reservoir dams that can be used to provide renewable energy. Hydropower is the most used renewable energy in East Africa.
– Hydropower (including mixed plant) constitute almost 78% of the total renewable energy generated in the region, in 2019. It is expected to remain the single largest renewable energy contributing segment in the forecast period.
– In 2018, an upgrade project began by the Kenya Electricity Generating Co. and Voith GmbH to increase the Wanjii hydropower project's output capacity by about 20%. Modernization is expected to take place by changing the electrical equipment like turbines, generators, and control systems.
– The geographical features of the countries in the region aid in the creation of energy from hydropower. Due to the presence of physical structures like the Nile River, Mountains, and the great lakes.
– Therefore, vast reservoirs of dam providing renewable energy are expected to continue to dominate the market due to its large size relative to other renewable energy and an increase in investments.

Ethiopia to Dominate the Market

– The largest river in the world starts in the mountains of Ethiopia. Numerous dams have been conceived and built on the river, which has provided for renewable energy. However, water scarcity in the area has caused diplomatic differences between Egypt and Ethiopia and may cause some delay in executions of the projects.
– Hydropower projects produce most of the renewable energy in the country. In 2019, the country had 3817 MW of installed capacity produced through these projects. Hydropower constitutes 85.77% of all renewable energy in the country.
– In 2019, Ethiopia's Ministry of Finance announced a tender for the construction of six solar plants, which are expected to have a combined 798 MW capacity. It is expected to be a public-private enterprise and is likely to decrease the country's energy deficit. Large scale projects such as these also provide growth to the market.
– In 2020, The Grand Ethiopian Renaissance Dam is in construction. It is expected to have a capacity to generate 6000 MW when fully built. It is expected to become the largest operational dam in Africa, in turn driving the market during the forecast period.
– Hence, Ethiopia is expected to dominate the market due to its large increase in the installed renewable energy capacity in the forecast period.

Get a Sample PDF Report Here:

Competitive Landscape

East Africa renewable energy is moderately consolidated. Some of the key players in this market are Voith GmbH & Co. KGaA, Kenya Electricity Generating Company PLC, Salini Costruttori S.p.A., Vergnet SA, Eleqtra Inc

1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW
4.1 Introduction
4.2 Renewable Energy Installed Capacity Forecast in GW, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

MENAFN27092022004545010068ID1104933309


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.