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The Future of the Middle East Power Market to 2020
The Future of the Middle East Power Market to 2020
Iran emerges as the largest power market by installed capacity among the Middle East countries with a share of 31% in the total installed capacity.
kent,
sidcup,
United Kingdom
(prbd.net)
26/03/2010
"The Future of the Middle East Power Market to 2020"
Iran emerges as the largest power market by installed capacity among the Middle East countries with a share of 31% in the total installed capacity. Saudi Arabia is the second largest market having a share of 26.4% in total installed capacity. This was followed by UAE and Iraq having a share of 11% and 8.8% in the total installed capacity. Kuwait has a market share of 6.3% in total installed capacity and is the fifth largest country by installed capacity among the Middle East countries.
Most of the Middle East countries will see a growth in electricity consumption. Increase in electricity consumption will lead to increased generation in the countries. High economic growth, increasing population and industrial growth in these countries will contribute to higher levels of electricity consumption in the coming years. Countries such as UAE, Qatar, Syria and Bahrain are seeing increased economic growth that is leading to a strain on the existing electricity infrastructure in the country. These countries are increasing their power generating capacities to meet their growing electricity demand.
The top three or four power companies in most of the Middle East countries constitute the major generating capacities in the country. Countries such as UAE, Jordan and Oman have their top four or five companies constituting a share of 70% -100% in the installed capacity. Most of these also have the top company contributing more than 50% in installed capacity in that country.
Countries like Saudi Arabia, Iran, Yemen, Bahrain, Syria and Iraq have a single largest company with a share of 70% to 100% of the total installed capacity in the country.
At present, the region is heavily dependent on thermal fuel sources (gas and oil) for power generation. For instance, countries such as Saudi Arabia, Qatar, Oman and Kuwait generate the entire 100% of its power from either gas or oil. However, a change in the power generation mix in the region is expected in the future due to the shift in focus by the Middle East countries onto other fuel sources such as renewables (solar, wind, etc.) and nuclear. For instance, the UAE aims to build a nuclear capacity of 20,000 MW by 2025. Countries such as Kuwait and Iran have set targets to generate 5% and 3.5% respectively from renewable sources by 2020. Bharain, Iraq and Oman are some of the other countries which are exploring the feasibility to generate electricity from renewable sources.
GBI Research's report, "The Future of the Middle East Power Market to 2020: Opportunity Analysis, Technology Overview, Infrastructure and Policy Assessment", analyzes the power market in the Middle East countries. The Middle East region has become an investment hub for utility and construction companies. With the growing economy, there has been an increasing demand for power and hence has resulted in plans for the boost in power generation. Though oil and gas has been the primary source of power in this region, but renewable energy is also making in-roads in some of the nations in the region.
visit: http://www.gbiresearch.com
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