Middle East & Africa Microgrid Market Size & Outlook
Middle East & Africa microgrid market, 2018-2030 (US$M)
Related Markets
MEA microgrid market highlights
- The MEA microgrid market generated a revenue of USD 8,118.3 million in 2023.
- The market is expected to grow at a CAGR of 14.9% from 2024 to 2030.
- In terms of segment, chp was the largest revenue generating power source in 2023.
- CHP is the most lucrative power source segment registering the fastest growth during the forecast period.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 8,118.3 million |
| Market revenue in 2030 | USD 21,492.1 million |
| Growth rate | 14.9% (CAGR from 2023 to 2030) |
| Largest segment | Chp |
| Fastest growing segment | CHP |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | CHP, Natural Gas, Solar PV, Diesel, Fuel Cell |
| Key market players worldwide | ABB Ltd, Siemens AG, GE Aerospace, Eaton Corp PLC, Exelon Corp, Honeywell International Inc, NRG Energy Inc, Spirit AeroSystems Holdings Inc Class A, Northland Power Inc, Viridien |
Other key industry trends
- In terms of revenue, MEA region accounted for 10.6% of the global microgrid market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 54,605.5 million by 2030.
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Microgrid Market Scope
Microgrid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa microgrid market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to microgrid market will help companies and investors design strategic landscapes.
Chp was the largest segment with a revenue share of 34.79% in 2023. Horizon Databook has segmented the Middle East & Africa microgrid market based on chp, natural gas, solar pv, diesel, fuel cell covering the revenue growth of each sub-segment from 2018 to 2030.
The microgrid market in Argentina is expected to witness growth on account of installation of various renewable energy sources. The government has set a target to increase power generation from renewable resources to cover 20% of its energy demand by 2025.
This is expected to propel the use of microgrids to manage the generated electricity in the country. The construction industry is also witnessing significant growth owing to the execution of major construction projects.
Thus, the flourishing construction industry is anticipated to fuel the construction of many residential, commercial, and infrastructure spaces, which will create more demand for electricity. This is expected to increase the use of microgrids in Argentina in the coming years.
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Our clientele includes a mix of microgrid market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa microgrid market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa microgrid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA microgrid market size, by country, 2018-2030 (US$M)
Middle East & Africa Microgrid Market Outlook Share, 2023 & 2030 (US$M)
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