Middle East Energy Transition: Sectors and Companies Driving Development – 2026

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Published: February 03, 2026 Report Code: GDUKOG164105-ST

Report Overview
Key Players
Table of Contents
Table
Figures

The Middle East continues to be dominated by traditional fossil fuels. However, countries are shifting their energy strategies away from oil-fired generation towards a power mix dominated by gas and renewables. Whilst the region has abundant natural gas reserves, balancing the dynamic between exports and domestic supply will be crucial for its energy security.

Despite the region’s continued reliance on thermal power, renewable technologies are rapidly scaling due to climate ambitions and energy and economic diversification strategies.
As countries in the region expand their renewable energy capacities, the deployment of energy storage technologies will be crucial to mitigate the intermittency of renewables and ensure grid stability. However, energy storage currently remains an emerging technology with capacity concentrated in Saudi Arabia, the UAE, and Israel.
Electric vehicle penetration in the Middle East saw a sharp increase in penetration in 2024. Despite previous low adoption rates, driven by insufficient charging infrastructure and price disparity with ICE vehicles, government targets and regulations are supporting development.
Given the role of the Middle East in the aviation industry, significant investment is being made to position the region as a hub for SAF production.
Due to its extensive fossil fuel production, CCUS has the potential to play a key role in the decarbonization of the Middle East. The region’s CCUS capacity is set to grow at a CAGR of 32% between 2026 and 2030.
Low-carbon hydrogen plays a key role in many Middle Eastern nations’ economic diversification strategies. Many countries are looking to leverage the region’s existing oil and gas infrastructure and expertise, and its vast natural gas and renewable resources, to establish themselves as key global export hubs for low-carbon hydrogen.

Scope

Middle Eastern leaders in energy transition technologies, Country net-zero targets, renewable power capacity and generation, decommissioning of thermal power, natural gas reserves, major players in renewable energy, energy storage capacity, major players in energy storage, electric vehicle outlook, renewable refinery outlook, CCUS outlook, largest upcoming carbon capture projects, hydrogen policies, low-carbon hydrogen outlook, regional breakdown of hydrogen capacity, breakdown of hydrogen by end-product, largest upcoming low-carbon hydrogen projects

Key Highlights

By 2035, renewables are set to reach a 21% share of the power mix, an increase from its 6% share in 2025. Solar PV, alone, is set to account for 18% of the power mix driven by developers such as Acwa Power.

Given the role of the Middle East in the aviation industry, significant investment is being made to position the region as a hub for SAF production.

At present, all 10 of its active and upcoming projects are focusing their capacity on SAFs, with production forecasted to reach 516mmgy by 2030.

The region’s CCUS capacity is set to grow at a CAGR of 32% between 2026 and 2030, with enhanced oil recovery a key driver of this growth in the near term due to its revenue-generating potential for the oil industry.

From 2026 to 2030, the Middle East’s low-carbon hydrogen capacity is expected to grow at a CAGR of 48%, across ~84 projects.

Reasons to Buy

Assess the current regional emissions, thermal and renewable capacity, and generation share, and identify which countries are driving the energy transition in the Middle East

Identify market trends within the industry, including expected 2030 capacities for a range of technologies

Identify who the leading countries and regional players are in renewable energy capacity and energy transition technologies, such as hydrogen and CCUS

Understand the legislative framework laid out by the region’s governments aimed at accelerating the region's decarbonization and energy transition

Acwa Power
Badeel
Iran Water and Power Resources
Saudi Electricity Company
Doral Group
BYD
Tesla
Volkswagen
X2E
Nordic Electrofuel
Mercantile & Maritime
QatarEnergy
Saudi Aramco
ADNOC
EnBW Energy Solutions
Masdar
ADQ
ACME Cleantech Solutions
Nama Power and Water Procurement
MEW Kuwait
EDF
Dubai Electricity & Water Authority
Saudi Power Procurement
Nama Group
Marubeni
Abdulaziz Alajlan Sons for Trading & Real Estate Investments
Korea Electric Power
EtihadWE
Larsen & Toubro
Power Construction Corporation of China
China Energy Engineering Corp
China National Machinery Industry
Air Products and Chemicals
Multi Nova Contracting
Shanghai Electric Group
Northwest Electric Power Design Institute
Guangdong Power Engineering Corp
Cox Energy SAB de CV
JinkoSolar Holding
JA Solar Technology
LONGi Green Energy Technology
Trina Solar
Tongwei
Chint Group
Yingli Green Energy
First Solar
Jolywood Sunwatt
Zhejiang Chint Electrics
Vestas Wind Systems
Elecnor
Shanxi Electric Power Engineering
General Electric
Doosan Enerbility
Siemens Energy
Safa Nicu Sepahan
Nasb Niroo
Envision Energy
Goldwind Science & Technology
Zheijang Windey Wind Generating Engineering
MAPNA group
Villas Wind Technology
Xiangtan Electric Manufacturing
Nordex
Neom
Ormat Technologies
Alfanar Group
State Grid Corporation of China
Shikun & Binui
Kharafi National
TSK Group
AFCON Holdings
Xiamen Hithium Energy Storage Technology
Sungrow Power Supply
NGK Insulators
Caterpillar
Brenmiller Energy
Shenzhen GSL Tech
GenCell
Ceer Motors
Emirates
Etihad
Qatar Airways
MENA Biofuels
TotalEnergies
SATORP
Occidental Petroleum
Daesung Group
ExxonMobil
Hanwha Corp
HD Hyundai Co
Itochu Corp
Korea Gas Corp
LG Corp
Samsung C&T Corp
SK Innovation Co
Sojitz Corp
Sumitomo Corp
Sinopec
ConocoPhillips
Eni SpA
Shell
Lukoil Oil
PTT Public Co
Tospoe
OQ SAOC
Amarenco Solar
H2 Global Energy
Actis Corp
Fortescue Future Industries
Blue Power Partners
CIP
Electirc Power Development Co
Yamna

Overview

– Executive summary

– Sector grid and leaders in the Middle East

Power Mix

– Regional net-zero and renewable energy targets

– Power capacity and generation share outlooks

– Middle Eastern countries’ renewable generation share

– Thermal power: upcoming and decommissioning capacity

– Regional natural gas outlook

– Major players in renewable power

– Major EPC and equipment manufacturers for solar and wind

Energy Storage

– Middle East energy storage outlook

– Major players in energy storage in the Middle East

Electric Vehicles

– Middle East electric vehicles outlook

Renewable Refineries

– Middle East renewable refinery outlook

CCUS

– CCUS outlook in the Middle East

– The Middle East’s largest upcoming carbon capture projects

Hydrogen

– Hydrogen policies and initiatives

– Hydrogen outlook in the Middle East

– Regional breakdown of hydrogen capacity

– Breakdown of regional hydrogen capacity by end-product

– The Middle East’s largest upcoming low-carbon hydrogen projects

Table

Sector and grid leaders in the Middle East

Middle Eastern net-zero targets

Major EPC and equipment manufacturers for solar and wind

Major EPC and technology providers for energy storage

The Middle East's largest upcoming carbon capture projects

Hydrogen policies and initiatives

The Middle East's largest upcoming low-carbon hydrogen projects

Figures

Middle East power capacity share 2020-2035

Middle East power capacity share 2035

Middle East power generation share 2020-2035

Middle East renewable energy generation by type 2020-2035

Renewable generation share by country 2020-2035

Middle East upcoming and decommissioning thermal capacity 2026-2030

Regional breakdown of natural gas reserves as of January 2026

JODI import vs export levels of natural gas in Middle East 2015-2025

Major regional players in solar PV capacity based on active and announced projects

Major regional players in wind capacity based on active and announced projects

Middle Eastern rated power capacity by country 2026YTD

Major players in energy storage by rated power capacity 2026YTD

Middle Eastern EV car sales 2014-2024

Middle East SAF capacity by stage 2025-2030

Number of active and upcoming refineries by country and refinery type 2026YTD

Middle Eastern CCS capacity by stage 2025-2030

Middle Eastern countries' active and upcoming CCS capacity by stage 2026YTD

Middle East vs global low-carbon hydrogen capacity by development stage 2026YTD

Middle East low-carbon hydrogen capacity by development stage 2025-2030

Country breakdown of Middle Eastern low-carbon capacity by stage 2026YTD

Country breakdown of Middle Eastern low-carbon hydrogen capacity by type and project count 2026YTD

Middle East low-carbon hydrogen capacity by end-product 2025-2030

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Middle East Energy Transition: Sectors and Companies Driving Development – 2026

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