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Middle East & Africa Fossil Fuel New Energy Generation Market Trends

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

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Middle East & Africa Fossil Fuel New Energy Generation Market Trends

Middle East & Africa fossil fuel new energy generation industry is anticipated to witness significant growth on account of increasing focus on energy production, rising power demand, and the growing installation of fossil fuel powered power plants with lower GHG footprint. Increasing investments in infrastructure development, stern environmental protection regulations, and favorable initiatives by authorities for the construction of new power plants will augment the industry outlook. Moreover, expansion of energy generation capacity, increased investments, and expenditure for development of power plants to cater to the energy demand will positively influence the industry outlook.

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.