MENA Renewable Energy Market To Reach $59.9 Billion By 2030, Driving A Regional Green Energy Boom 'BCC Research LLC'

(MENAFN- PR Newswire)

"Driven by National Strategies and Abundant Renewable Resources, MENA Emerges as a Global Leader in Clean Energy Innovation with Major Investments in Solar, Wind, and Green Hydrogen"

BOSTON, July 29, 2025 /PRNewswire/ -- According to the latest study from BCC Research, " Renewable Energy Regional Analysis Market: Middle East and North Africa " is projected to reach $59.9 billion by the end of 2030, at a compound annual growth rate (CAGR) of 14.4% during the forecast period of 2025 to 2030.

This report analyzes the renewable energy market in the MENA region, focusing on emerging economies like Saudi Arabia, UAE, Egypt, and Morocco. It covers energy sources such as solar, wind, hydro, and bioenergy, and their use in the residential, commercial, and utility sectors. The study explores market trends, policies, investments, and technologies driving renewable energy growth. Turkey and Israel are excluded to maintain focus on less-developed markets, helping investors, policymakers, and companies identify high-potential opportunities in the region.

This report is particularly relevant today as MENA countries are accelerating their shift to renewable energy to reduce reliance on fossil fuels and meet climate goals. National strategies like Saudi Vision 2030 and UAE Net Zero 2050 are driving major clean energy projects. Falling technology costs and rising electricity demand are making renewables more viable and necessary. Global climate commitments and the push for green hydrogen exports are further boosting momentum. Additionally, growing foreign investment is fueling large-scale renewable developments across the region.

The factors driving the market's growth include:

Government-led Strategies and Energy Diversification Plans: MENA governments are promoting renewable energy through national strategies aimed at reducing reliance on fossil fuels. These plans include policy reforms, investment incentives, and partnerships to support clean energy development.

Abundant Natural Resources Offering Renewable Energy Potential: The region's high solar radiation and strong wind conditions make it ideal for renewable energy projects. Countries like Saudi Arabia and Morocco are leveraging these natural advantages to build cost-effective solar and wind farms.

Growing Energy Demand and Electrification of New Sectors: Rising energy needs due to population growth and industrialization, along with the electrification of sectors like transport and water desalination, are driving demand for sustainable power sources like renewables.

Energy Export Goals and the Rise of Green Hydrogen: MENA nations are investing in green hydrogen production to become global exporters of clean energy. This aligns with international decarbonization goals and opens new economic opportunities in energy trade.

Green Hydrogen and Ammonia Production for Export and Domestic Use: Green hydrogen and ammonia are being developed for export and domestic use in power generation, transport, and industry, supporting both economic growth and environmental goals.

Industrial Decarbonization and Renewable-powered Manufacturing: Heavy industry in MENA is transitioning to renewable energy to reduce emissions. This includes using green hydrogen and electrification to power manufacturing processes, helping meet climate targets.

Development of Utility-scale Renewable Energy Projects: Large-scale solar and wind projects are expanding across the region, backed by government and private investment. These projects are crucial for increasing renewable energy capacity and reducing carbon footprints.

Request a sample copy of the renewable energy market in the MENA region report .

Report Synopsis

Report Metric	Details
Base year considered	2024
Forecast period considered	2025-2030
Base year market size	$26.8 billion
Market size forecast	$59.9 billion
Growth rate	CAGR of 14.4% for the forecast period of 2025-2030
Segments covered	Source, End-Users, and Country
Regions covered	Middle East and North Africa
Countries covered	Egypt, Morocco, UAE, Jordan, Tunisia, Saudi Arabia, Oman, Algeria, and Kuwait
Market drivers	. Government-led strategies and energy diversification plans. . Abundant natural resources offering ideal renewable energy potential. . Growing energy demand and electrification of new sectors. . Energy export goals and the rise of green hydrogen. . Green hydrogen and ammonia production for export and domestic use. . Industrial decarbonization and renewable-powered manufacturing. . Development of utility-scale renewable energy projects.

Interesting facts:

• Abundant Solar Potential in MENA : MENA receives 22% to 26% of the planet's solar radiation. Each square kilometer can generate the equivalent of 1 million to 2 million barrels of oil annually, potentially meeting half of the world's electricity needs.
• Mohammed bin Rashid Al Maktoum Solar Park : Located in Dubai, this is the world's largest single-site concentrated solar power (CSP) plant. It boasts a total capacity of 1 GW, with 600 MW from CSP and 400 MW from photovoltaic panels, and can deliver power continuously for 12 hours at night .

Emerging startups:

• Yellow Door Energy
• Enerwhere
• Nour Energy
• Pylon
• Barq EV

The report addresses the following questions:

1. What is the MENA renewable energy market's projected growth rate and size?

• The MENA renewable energy market is projected to reach $59.9 billion by the end of 2030, with a CAGR of 14.4%.

2. Which factors are driving the growth of the MENA renewable energy market?

• Abundant solar and wind resources across the region.
• Government initiatives and national energy transition plans (e.g., Saudi Vision 2030, UAE Energy Strategy 2050).
• Rising energy demand and the need to diversify from fossil fuels.
• International climate commitments and decarbonization targets.
• Investments in utility-scale renewable projects and green hydrogen development.

3. Which market segments are covered in the report?

• The MENA renewable energy market is segmented based on source, end-user, and country. Sources include hydropower, solar energy, wind energy, bioenergy, and others. End-users include residential, commercial and industrial. National estimates and forecasts are made for Egypt, Morocco, UAE, Jordan, Tunisia, Saudi Arabia, Oman, Algeria, Kuwait, and the Rest of MENA.

4. Which will be the dominant source through 2030?

• The hydropower segment in the MENA renewable energy market will continue to dominate through the end of the forecast period.

5. Which country has the largest market share?

• Egypt is expected to dominate the market, with a CAGR of 14.4%, reaching $19.8 billion by the end of 2030. Egypt has emerged as one of the leading players in the MENA region's renewable energy transition, demonstrating strong political commitment and strategic planning to diversify its energy mix. Historically reliant on fossil fuels, Egypt began pursuing large-scale renewable energy projects as part of its broader Vision 2030 strategy to ensure energy security, attract foreign investment, and reduce greenhouse gas emissions. Solar energy has become a cornerstone of Egypt's renewable energy agenda. The country benefits from high solar irradiance, up to 3,000 kWh/m2 per year in many areas, making it ideal for solar development. Egypt is home to the Benban Solar Park in Aswan, one of the largest solar installations in the world, with a total capacity of 1.8 GW. The park was developed under Egypt's Feed-in Tariff (FiT) program and has attracted substantial international financing and participation from major global energy players. The success of Benban has positioned Egypt as a model for public-private partnerships in solar infrastructure across the region.

Related reports include:

Renewable Energy: Technologies and Global Markets : This report reviews the global market for renewable energy technologies, focusing on power generation from sources like solar, wind, hydro, geothermal, ocean, and bioenergy. It presents market size in both value and capacity, analyzes trends across technologies, applications, and regions, and includes data from 19 countries. The report also profiles 15 key vendors and briefly touches on secondary uses like heating and lighting, while maintaining a primary focus on electricity generation.

Green Hydrogen: Global Markets : This report explores the global green hydrogen market, segmented by technology, power source, end-use industry, and region. It provides market size in both value and volume, and includes competitive analysis based on company market share and revenue. The focus is on hydrogen production through water electrolysis powered by renewable sources like wind and solar, with emphasis on alkaline and PEM electrolyzer technologies. Hydrogen produced using non-renewable energy sources is excluded. The report also covers market dynamics, emerging technologies, and global industry developments.

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