Report Ocean’s In-Depth Analysis Reveals Algeria’s Power Market Outlook, Projected CAGR of 8.5% from 2020-2025.
Insights from Report Ocean’s Comprehensive Study
Report Ocean’s latest analysis delves into the Algeria Power Market, evaluating factors like COVID-19 impact, growth, and market dynamics. With a forecast up to 2032, it provides a detailed examination of market dimensions, trends, and strategies.
Growth Outlook and Industry Trends
Anticipated to witness a robust Compound Annual Growth Rate (CAGR) exceeding 8.5% from 2020 to 2025, Algeria’s Power Market reflects key drivers such as government support, rapid adoption of solar and wind energy, and the imperative to meet escalating power demand.
Key Market Features: A Shift Towards Renewable Energy
Government Commitment: Algeria targets 37% installed capacity and 27% power production from renewables by 2030, emphasizing a national commitment to sustainable energy.
Solar Power Dominance: The nation actively embraces solar power, supported by government initiatives like the Renewable Energy Target (RET).
Market Trends: Non-Hydropower Renewables Lead the Way
Dominance Shift: While oil and gas-fired plants prevailed in 2018, renewables, particularly solar power, are projected to contribute around 15% of total power generation capacity in the next decade.
Solar Power Plant Surge: Algeria experiences a surge in solar power plant installations, aligning with the National Renewable Energy Development Program’s goal to deploy 22,000 MW of renewable power plants.
Competitive Landscape: Moderate Fragmentation
The Algeria Power Market exhibits moderate fragmentation with key players like General Electric, Eni Spa, Condor Electronics, and SOLIWIND Algerie operating in the market.
Source：taiwannews.com.tw
