Home > Energy & Power > Electrical Equipment > Middle East & Africa Fossil Fuel New Energy Generation Market

Middle East & Africa Fossil Fuel New Energy Generation Market Size

Report ID: GMI12764
Published Date: Dec 2024
Report Format: PDF

Download Free Sample

Middle East & Africa Fossil Fuel New Energy Generation Market Size

The Middle East & Africa fossil fuel new energy generation market was valued at USD 24.6 billion in 2024 and is estimated to grow at a CAGR of 19.5% from 2025 to 2034. Increasing energy demand across multiple sectors, coupled with strategic partnerships and flourishing investments in energy generation, is shaping the business dynamics. Increased collaborations among technology firms, which aim to develop low-carbon technology is complementing the industry landscape.

To get key market trends

Download Free Sample

Stringent environmental regulations for emission reduction, increasing energy consumption driven by industrialization, and improving living standards, leading to a greater focus on energy security requirements. For instance, The Integrated Resource Plan (IRP) establishes an emissions limit of 275 MtCO2/year for electricity generation starting from 2025. This constraint mandates that total emissions from electricity production must not exceed this threshold. The emissions cap has been a crucial mechanism in promoting the incorporation of renewable energy capacity targets.

Middle East & Africa Fossil Fuel New Energy Generation Market Report Attributes
Report Attribute	Details
Base Year:	2024
Middle East & Africa Fossil Fuel New Energy Generation Market Size in 2024:	USD 24.6 Billion
Forecast Period:	2025 – 2034
Forecast Period 2025 – 2034 CAGR:	19.5%
2025 – 2034 Value Projection:	USD 135.9 Billion
Historical Data for:	2021 – 2024
No. of Pages:	85
Tables, Charts & Figures:	10
Segments covered:	Source and Country
Growth Drivers:	Rapidly increasing energy demand Increasing production of hydrocarbons from conventional & unconventional reserves
Pitfalls & Challenges:	Positive outlook towards renewable power generation

Learn more about the key segments shaping this market

Download Free Sample

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The Middle East & Africa fossil fuel new energy generation market was reached USD 24.6 billion in 2024 and is projected to grow at a 19.5% CAGR from 2025 to 2034, driven by increasing energy demand across multiple sectors.

The gas segment is expected to surpass USD 80 billion by 2034, supported by abundant reserves, ongoing gas exploration, and its role in providing cost-effective electricity while enhancing energy security.

Saudi Arabia's fossil fuel new energy generation market is anticipated to exceed USD 9.5 billion by 2034, led by the expansion of power generation facilities and a growing industrial and commercial sector.

Key players include ADNOC, Arcelormittal, Atkins Realis, Edra Power Holdings, Engie, Eskom Holdings, Iberdrola, Mitsubishi Heavy Industries, Oman Oil Company, Qatar Petroleum, RWE, Saudi Aramco, Sonatrach, TotalEnergies, and Uniper.