Middle East and Africa Renewable Energy Market – Growth & Forecast (2024

Middle East and Africa Renewable Energy Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

The energy that generated from natural resources is Renewable Energy. There are many renewable energies around us among them sun, wind, geothermal heat and to name a few. The renewable energy does not cause any pollution to the environment. Renewable energy has huge demand, and end users for these resources are increasing.

The Middle East and Africa Renewable Energy Market Segments Size & Growth:

The Middle East and Africa Renewable Energy Market size are projected to reach approximately $XX billion by the end of 2024 with a CAGR of close to XX% from $XX billion in 2017 during the forecast timeline 2018-2024. Renewable Energy is a clean source of energy, and it has low harmful greenhouse effects. Renewable Energy is cheaper when compared to most sources of energy. Renewable Energy requires very low maintenance of facilities once it is laid down. The major factors that propel the growth of the Middle East and Africa Renewable Energy Market in the forecast period are the increase in bioethanol blends use, the quality of water resource and hydropower are increased, Huge support from the government, longevity, and reliability of solar products. However, Emissions, Environment impact are the factors that are hampering the growth of the market.

Middle East and Africa Renewable Energy Market Segments Share:

Middle East and Africa Renewable Energy Market are segmented on the basis of the type which consists of biofuels, geothermal, solar, wind and hydroelectric power energy. Biofuels are known as the renewable source where liquid fuels are generated from wastage of other materials such

Middle East and Africa Renewable Energy Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

as plants. These biofuels are used as liquid fuels in transportation. The biofuels are of two common types they are ethanol and biodiesel. Biofuels do not contribute global warming gases. Geothermal energy is the energy stored in the earth. With the help of geothermal energy, we can produce electricity which is again a renewable resource. In geothermal power stations with the help of steam and hot water, we can produce electricity and it is used for heating and cooling buildings easily. Solar Energy is defined as the energy emitted by the sun. It the major renewable resource used in large and small-scale industries. The solar cells are used for converting solar energy into

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Middle East and Africa Renewable Energy Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

electric energy. Wind energy is readily available energy. Through the wind turbines, we convert the wind energy to electric energy. These wind turbines harmlessly generate electricity through wind, rather than power plants as it emits harmful gases. Among these, solar energy contributes major market share as the end users of solar energy are increasing day-to-day. There are many industries that are working on solar energy. It is used in large scale, small scale and for home use.

By the end user, the market is segmented into the solar cell, wind turbines, biofuel, Automotive, consumer electronics. Among these, solar energy is mostly used on a regular basis; solar cells are used to convert solar energy to electric energy. This sort of energy is used in solar watches, Traffic signals and to name a few. Solar panels convert

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