Cleantech Market in Middle East Led by Increased use of Wind Energy, Declining Price of Solar PV Modules and Commitment to Improve the Renewable Energy Proportion in its Total Energy Mix: Ken Research

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Stability of Government, Improving Economic Conditions and Reduction in Electricity Subsidy will lead the Growth in Cleantech Energy Segment.

Middle East cleantech energy sector is dominated by Turkey whose contribution to the cleantech sector constantly increased from 2011-2016. All sectors in the cleantech energy generation have registered positive growth with significant increase in the proportion of wind energy. Total installed capacity increased more than twice with the majority of the market captured by leading global wind turbine suppliers which included Nordex, Vestas, GE, Siemens and others. Growth rate was maximum in solar energy segment which increased by more than seven fold in 2011-2016. Turkey and Israel were the major countries which contributed to the growth of solar energy in the region.

Middle East CleanTech Energy Market

Solar Energy Market was majorly dominated by local, US and European panel manufacturers. Chinese panel manufacturers have increased their presence to capture the continuously growing market. Development of hydro energy was only witnessed in Iran and Turkey with total addition made during 2011-2016 exceeding the combined installed capacity from all other sources of cleantech energy in the entire Middle East region. Waste to energy is still in its infancy with commercial exploitation of geothermal sources restricted to one country in the region. EPC market for developing these projects has witnessed varying growth due to erratic nature of the market. It was hampered by instability and fluctuating oil prices in the region.

Middle East has vast area of barren land which is uninhabited making it ideal for generating renewable energy. All countries in Middle East region receive ample hours of sunlight with very good amount of solar incident energy. Oil exporting countries diversifying their energy mix and oil importing countries to reduce their dependence on imported fuel is expected to promote the growth of Cleantech energy sources in Middle East.

The report titled Middle East Cleantech Energy Market by Technology (Solar PV, Solar CSP, Wind, Hydropower) and by EPC Market Outlook to 2021by Ken Research suggested that market for cleantech energy will be driven by wind energy segment.  Global manufacturers including Siemens Gamesa, GE and Vestas will develop the majority of projects. Solar is expected to register very fast growth as many large projects are in pipeline. Growth of waste to energy will be minimal.

For more information about the publication, refer to below link:

https://www.kenresearch.com/energy-and-utilities/clean-technology/middle-east-cleantech-solar-wind-hydro-market/142275-103.html

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