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UAE Power Market - Growth, Trends, and Forecast (2019 - 2024)

  • ID: 4828189
  • Report
  • June 2019
  • Region: United Arab Emirates
  • 76 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • ACWA Power
  • General Electric Company
  • MORE
Market Overview

The power sector in the UAE is dominated by gas-fired power plants, accounting for over 95% of the total power generation in 2018. The country has witnessed a strong growth in electricity consumption at an annual rate of 5% over the past five years. The growing consumption is mainly driven by strong economic activity, rising population, infrastructure development, and industrialization. The inclusion of renewable energy in the power mix is expected to drive the transmission and distribution sector. At the same time, the government is also committed to reducing the transmission and distribution losses by improving the efficiency of the grid. However, lack of privatization in the power sector in the northern emirates is expected to restrain the development of power sector in the coming years.
  • UAE has one of the most advanced power sectors in the region, with distinct structure and government policy that are favorable. The country has a number of 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.
  • Nuclear and waste-to-energy projects are gradually gaining momentum in the country apart from the solar power, which, in turn, is expected to create an ample opportunity for the power sector as new projects come online.
Key Market Trends

Growth in Renewable Energy Sector
  • UAE has undertaken significant strides over the past several years and is leading the region’s drive toward renewable energy, particularly in the solar sector. To meet rising demand, the country has embarked on a challenging mission to increase energy security, diversify its energy sources and increase the share of solar in its power mix.
  • UAE has proven that it holds some of the best solar resources in the world while supporting economic and regulatory policies have helped its clean energy programme to excel. A contributing factor is an access to affordable finance.
  • In addition to conventional project financing, the sector is seeing financial innovation to help facilitate and provide the investments required in the long term, including the AED100 billion Dubai Green Fund, which will support the Shams Dubai initiative, a programme aimed at facilitating the installation of rooftop solar panels.
  • Additionally, ‘UAE Energy Strategy 2050’ targets to increase the contribution of clean energy in the overall national energy mix of the country to 50% by 2050, resulting in savings of approximately USD 190 billion of overall energy costs. As for its global efforts in this field, and driven by its commitment to climate change mitigation, UAE also announced joining of the International Solar Alliance, which aims to help developing countries harness 1,000 GW of solar by 2030.
Therefore, with the targets and policies set in place, the renewable energy sector in UAE is expected to witness a significant growth over the forecast period.

Competitive Landscape

The UAE power market is consolidated owing to the dominance by the domestic players. Some of the major companies include Abu Dhabi National Energy Company PJSC (TAQA), ACWA Power, Abu Dhabi Transmission & Despatch Company (Transco), and Dubai Electricity and Water Authority (DEWA).
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FEATURED COMPANIES

  • ACWA Power
  • General Electric Company
  • MORE
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
1.4 Study Deliverables
1.5 Research Phases

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY

4 MARKET OVERVIEW
4.1 Introduction
4.2 Installed Power Capacity Forecast in GW, till 2024
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 PESTLE Analysis

5 MARKET SEGMENTATION
5.1 Power Generation
5.1.1 Market Overview
5.1.2 Installed Power Capacity, by Fuel Type, 2018
5.1.3 Key projects Information
5.1.4 Power Generation and Consumption in TWh, 2017-2026
5.1.5 Key Players
5.2 Transmission & Distribution
5.2.1 Market Overview
5.2.2 Key projects Information
5.2.3 Key Players

6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Key Company Profiles
6.3.1 Abu Dhabi National Energy Company PJSC (TAQA)
6.3.2 ACWA Power
6.3.3 General Electric Company
6.3.4 Abu Dhabi Transmission & Despatch Company (Transco)
6.3.5 Dubai Electricity and Water Authority (DEWA)

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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  • Abu Dhabi National Energy Company PJSC (TAQA)
  • ACWA Power
  • General Electric Company
  • Abu Dhabi Transmission & Despatch Company (Transco)
  • Dubai Electricity and Water Authority (DEWA)
Note: Product cover images may vary from those shown
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