UAE Power Market Size, Share, Growth & trend | Report 2031

UAE Power Market Size, Share, Growth & trend | Report 2031

Segments - UAE Power Market by Generation Sources (Thermal, Renewables, and Others) and Transmission & Distribution) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031

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Author : Raksha Sharma
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Fact-checked by : Vineet Pandey
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Editor : Swapnil Hedau

Upcoming | Report ID :EP-911 | 4.7 Rating | 65 Reviews | 167 Pages | Format : PDF Excel PPT

Report Description


UAE Power Market Outlook 2031

The United Arab Emirates (UAE) power market size was valued at USD XX Billion in 2022 and is projected to reach USD XX Billion by 2031, expanding at a CAGR of 4.2% during the forecast period 2023 - 2031. The growth of the market is attributed to rising inclination toward deployment of solar energy infrastructure.

The energy mix for electricity generation in the country is dominated by fossil fuels such as coal, oil and natural gas. This three electricity generation source constitutes about 65% of the total electricity generation in the country.

UAE Power Market Outlook

UAE has one of the most advanced and efficient power sectors in the Middle East & Africa. The country has distinct structures and favorable government policies. UAE is exploring its potential in renewable energy, particularly in solar power. With various projects being under construction, renewable energy is expected to drive the UAE power market significantly.

The country has several upcoming transmission and distribution network projects, including expansion and refurbishment of existing infrastructure. This factor is expected to drive the T&D infrastructure-related markets in the coming years.

The research report finds that the COVID-19 pandemic had a significant impact on the UAE power market. One of the main effects has been a decrease in demand for electricity due to the economic slowdown and reduced commercial activity. However, the UAE government has taken measures to support the sector and ensure stability, such as implementing relief measures for utility bills and investing in renewable energy sources. Overall, the power market in the UAE is expected to recover gradually as the economy improves and demand picks up.

Artificial Intelligence Impact on the UAE Power Market

Artificial intelligence (AI) plays a significant role in the generation of energy. AI optimizes the performance of renewable energy sources, such as solar and wind, by predicting the availability of energy. It helps to execute better planning and facility management, minimize environmental load, and optimize energy storage and distribution. AI-powered analytics tools are helping in real-time monitoring and control of power systems, reducing downtime and improving grid stability.

Additionally, AI is being used to optimize energy consumption in buildings, resulting in energy savings. The integration of AI in the UAE power market is expected to lead to increased operational efficiency, cost savings, and a more sustainable energy sector. For example,

  • On August 8, 2022, the Dubai Electricity and Water Authority’s (DEWA) research and development center invested in artificial intelligence and machine learning. This investment is expected to improve efficiency and reduce carbon emissions and the cost of power to promote energy efficiency, performance of solar panels, and smart grid integration.

  • Growing consumption of electricity owing to strong economic activity, rising population, infrastructure development, and industrialization is expected to boost the UAE power market growth.

  • Nuclear and waste-to-energy projects are gradually gaining momentum in the country apart from solar power, which is expected to create ample opportunities for the power sector in the country.

  • In 2017, the UAE launched 'Energy Strategy 2050', which aims to increase clean energy in the total energy mix to 50% by 2050 and reduce the carbon footprint of power generation by 70%. This, in turn, is expected to create significant market opportunities for the renewable energy companies in the projected timeline.

  • Major industry players are diversifying their power generation business by providing renewable energy systems and deploying large-scale renewable projects, positively influencing the market growth.

Scope of UAE Power Market Report

The report on the UAE power market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

UAE Power Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Generation-Source (Thermal, Renewable, and Others) and Transmission & Distribution

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Abu Dhabi National Energy Company PJSC (TAQA), Abu Dhabi Transmission & Despatch Company (Transco), Dubai Electricity and Water Authority (DEWA), Emirates Nuclear Energy Corporation (ENEC), and Emirates Water and Electricity Company


UAE Power Market Segment Insights

Renewable segment to account a large market share

Based on generation sources, the UAE power market share is segregated into thermal, renewables, and others. The renewables segment is projected to account for a large market share during the forecasted period. With multiple government initiatives, the country's renewable power generation has grown at a significant rate in the recent years. In 2019, the nation reported 1.8 GW of installed renewable energy capacity.

As of May 2020, the UAE power market share of clean energy in Dubai's energy mix increased to around 9%. The UAE power market is further expected to grow in the future with ongoing renewable policies that are anticipated to create new avenues for industry players. Conversely, the thermal segment is projected to expand at a rapid pace during the forecasted period.

UAE Power Market Generation Sources

Transmission & distribution segment to grow at a steady rate

The transmission & distribution segment is expected to play a major role in the UAE market. Increasing number of government policies to deploy transmission and distribution infrastructure for solar energy is expected to drive the segment growth. Moreover, the deployment of renewable energy systems by local players is anticipated to foster the transmission & distribution segment.

Segments

Generation Sources

  • Thermal
  • Renewables
  • Others

Key players

Competitive Landscape

Some of the major companies include Abu Dhabi National Energy Company PJSC (TAQA), Abu Dhabi Transmission & Despatch Company (Transco), Dubai Electricity and Water Authority (DEWA), Emirates Nuclear Energy Corporation (ENEC), and Emirates Water and Electricity Company.

Companies are engaging in partnerships and R&D activities to leverage their market position. Moreover, major industry players are focusing on acquiring small and medium businesses (SMEs) to expand their market share. For instance,

  • In August 2020, the Emirates Nuclear Energy Corporation (ENEC) announced that its subsidiary, Nawah Energy Company, and Abu Dhabi Transmission and Despatch Company (TRANSCO) successfully connected Unit 1 of the Barakah Nuclear Energy Plant to the UAE grid. This allows the plant to send clean electricity to the country.

 UAE Power Market Key Players

Frequently Asked Questions

The UAE Power Market is studied from 2023 - 2031.

UAE Power Market is growing at a CAGR of 4.2% in forecast period.

The renewables segment is projected to account for a large market share during the forecasted period.

Some of the major companies include Abu Dhabi National Energy Company PJSC (TAQA), Abu Dhabi Transmission & Despatch Company (Transco), Dubai Electricity and Water Authority (DEWA), Emirates Nuclear Energy Corporation (ENEC), and Emirates Water and Electricity Company.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. UAE Power Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. UAE Power Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. UAE Power Market - Supply Chain
  4.5. Global UAE Power Market Forecast
     4.5.1. UAE Power Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. UAE Power Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. UAE Power Market Absolute $ Opportunity
5. Global UAE Power Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. UAE Power Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global UAE Power Demand Share Forecast, 2019-2026
6. North America UAE Power Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America UAE Power Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America UAE Power Demand Share Forecast, 2019-2026
7. Latin America UAE Power Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America UAE Power Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America UAE Power Demand Share Forecast, 2019-2026
8. Europe UAE Power Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe UAE Power Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe UAE Power Demand Share Forecast, 2019-2026
9. Asia Pacific UAE Power Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific UAE Power Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific UAE Power Demand Share Forecast, 2019-2026
10. Middle East & Africa UAE Power Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa UAE Power Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa UAE Power Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global UAE Power Market: Market Share Analysis
  11.2. UAE Power Distributors and Customers
  11.3. UAE Power Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Abu Dhabi National Energy Company PJSC (TAQA)
     11.4.2. Abu Dhabi Transmission & Despatch Company (Transco)
     11.4.3. Dubai Electricity and Water Authority (DEWA)
     11.4.4. Emirates Nuclear Energy Corporation (ENEC)
     11.4.5. Emirates Water and Electricity Company

Methodology

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