Solar- Market Scope
Egypt’s solar energy market is experiencing rapid growth, driven by government initiatives, increasing energy demand, and ambitious renewable energy targets. The country aims to generate 42% of its electricity from renewable sources, with solar playing a crucial role. The Benban Solar Park, one of the world’s largest solar installations, highlights Egypt’s commitment to expanding its solar capacity. The solar market in Egypt is segmented into photovoltaic (PV) systems, concentrated solar power (CSP), and solar water heating solutions. Utility-scale solar projects dominate the sector, supported by public-private partnerships (PPPs), feed-in tariffs (FiTs), and foreign investments. The residential and commercial solar segments are also gaining traction due to falling solar panel costs, net metering policies, and rising electricity prices. Key drivers include abundant solar resources (high solar irradiation levels), government incentives, and foreign investments from international financial institutions like the World Bank and EBRD. However, challenges such as intermittency issues, grid integration concerns, and financing hurdles for small-scale solar projects persist. With initiatives like Egypt’s Green Hydrogen Strategy and collaborations with the UAE, China, and European partners, the future of the solar market in Egypt is promising. Increased adoption of floating solar, battery storage, and smart grid solutions will further enhance solar penetration. As Egypt positions itself as a regional renewable energy hub, the solar market is set for significant expansion, fostering energy security, economic growth, and sustainability.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
Key Companies Profiled | Cairo Solar (Egypt), ACWA Power Co. (Saudi Arabia), Masdar (Abu Dhabi Future Energy Company) (United Arab Emirates), Canadian Solar Inc. (Canada), JinkoSolar Holding Co., Ltd. (China), SolarizEgypt (Egypt), Infinity (Egypt), KarmSolar (Egypt), Onasolar (Egypt) and Gila Electric (Egypt) |
CAGR | % |
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Cairo Solar (Egypt), ACWA Power Co. (Saudi Arabia), Masdar (Abu Dhabi Future Energy Company) (United Arab Emirates), Canadian Solar Inc. (Canada), JinkoSolar Holding Co., Ltd. (China), SolarizEgypt (Egypt), Infinity (Egypt), KarmSolar (Egypt), Onasolar (Egypt) and Gila Electric (Egypt) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Future Energy Corporation (Egypt), Gree Solar (Egypt), GreenISO (Egypt), Sunprism Energy Technology (Egypt) and Al Nasr Solar (Egypt).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Egypt Solar- market by Type , by Application (Power Generation, Agricultural Solar, Industrial Solar and Desalination Plant) and Region with country level break-up.
On the basis of geography, the market of Solar- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Israel, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2024.
Market Leaders and their expansionary development strategies
In November 2024, Egypt signed memoranda of understanding with Alcazar, TAQA, and Voltalia to develop 5.2 GW of renewable energy capacity, including significant solar power projects.
Influencing Trend:
Energy Diversification & Reduced Dependence on Fossil Fuels
Market Growth Drivers:
Increasing Foreign Investments & Public-Private Partnerships and Rising Industrial & Commercial Demand for Clean Energy
Challenges:
Land Availability & Environmental Concerns
Restraints:
Regulatory & Bureaucratic Delays
Opportunities:
Expansion of Net Metering & Feed-in Tariffs and Growing adoption in residential, commercial, and industrial sectors.
Key Target Audience
Manufacturers of construction machinery, Suppliers of construction machinery, Wholesalers, Distributors, and Retailers of construction machinery, Research and Development (R&D) Companies, Research Organization and Others