Middle East Energy Transition Market Analysis by Sectors (Power, Electrical Vehicles, Renewable Fuels, Hydrogen and CCS/CCU) and Trends

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Middle East Energy Transition Market Overview

The Middle East’s power market continues to be dominated by traditional fossil fuels and this is unlikely to change for the foreseeable future. with gas based thermal power providing most of the power generation into 2035. The presence of massive oil and gas reserves and the low cost of production makes it cheaper for many countries in the region to burn fuel for power generation. As a result, the pace of adoption of renewable energy is still therefore quite slow.

Key Power Types Coal, Wind, Oil, Solar, Gas, Geothermal, Nuclear, Hydro, and Biopower
Key Sectors Electric Vehicles, Renewable Energy, CCS/ CCUS, and Hydrogen
Key Players Abu Dhabi Power Corp, Abu Dhabi Power Corp, Acwa Power Co, ACME Cleantech Solutions Pvt Ltd, ACME Cleantech Solutions Pvt Ltd, Dubai Electricity and Water Authority, Power Construction Corporation of China, SoftBank Group Corp, and Acwa Power Co, among others

Middle East Energy Transition Market, Major Power Types

The major power types in the Middle East energy transition market are coal, wind, oil, solar, gas, geothermal, nuclear, hydro, and biopower. The Middle East has relied on thermal power for most of its power capacity for a number of years, with gas based thermal power providing the highest share of power generation into 2035. The share of renewables is also anticipated to rise significantly.

Middle East Energy Transition Market Analysis by Power Sectors (%)

Middle East Energy Transition Market Analysis by Power Sectors (%)

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Middle East Energy Transition Market, Country-wise Outlook

The renewable generation share is set to strongly increase in the run up to 2035. The United Arab Emirates will become a regional leader, with its renewable generation share exceeding more than 27% by 2035. Saudi Arabia is also expected to experience a strong growth in its renewable generation share.

Middle East Energy Transition Market, Major Sectors

Major sectors in the Middle East energy transition market are electric vehicles, renewable energy, CCS/ CCUS, and hydrogen.

Electric Vehicles: The adoption of electric vehicles as a means of reducing CO2 emissions has progressed in the region in the last few years. This progress is still heavily concentrated in the Gulf region, however.

Although the policy framework for electric vehicles is still immature, several commercial partnerships and governmental initiatives have emerged. UAE, Qatar, Oman, and Saudi Arabia now have robust plans to locally produce EVs and ambitious intentions for exports as well.

CCS/ CCUS: Given the extensive scale of oil and gas operations in the region and the need for achieving zero-emissions targets, the CCS/CCU projects are gaining more momentum. The CCS capacity in the Gulf countries currently stands at 4mtpa, representing more than 9% of the global annual capacity. CSS capacity is set to increase to 6mtpa with 13 projects expected to come online by the end of the decade.

Hydrogen: The Middle East region is situated in an advantageous position when it comes to potential hydrogen production due to its abundant gas reserves, land, and solar radiation. There are currently multiple hydrogen projects in the feasibility phase, with most of them are expected to be operational around the middle of the current decade. The hydrogen producers in the region see ammonia, transportation, and chemical as the most preferred destinations for the clean fuel. The financing landscape of hydrogen projects looks promising with active involvement from governmental agencies and national oil companies, particularly in the Gulf countries.

Middle East Energy Transition Market, Major Players

Some of the major players in the Middle East energy transition market are Abu Dhabi Power Corp, Abu Dhabi Power Corp, Acwa Power Co, ACME Cleantech Solutions Pvt Ltd, ACME Cleantech Solutions Pvt Ltd, Dubai Electricity and Water Authority, Power Construction Corporation of China, SoftBank Group Corp, and Acwa Power Co, among others.

Segments Covered in the Report

Middle East Energy Transition Market, Sectors Outlook

  • Electric Vehicles
  • Renewable Energy
  • Hydrogen

Middle East Energy Transition Market, Major Power Types Outlook (2018-2035)

  • Coal
  • Wind
  • Oil
  • Solar
  • Gas
  • Geothermal
  • Nuclear
  • Hydro
  • Biopower


The report provides:

  • Renewables shares of GCC countries from 2020 to 2035.
  • Regional policies supporting renewable energy, electric vehicles and CCS technology.
  • Regional partnerships and financial incentives in hydrogen production.
  • Decommissioning and upcoming thermal capacity outlook from 2023-2030.

Key Highlights

• Renewable energy policies and targets from Middle Eastern Countries.

• Renewable share in Middle East’s power capacity share

• Major players in the Middle East’s renewable energy market

• Regional electric vehicle policies

• CCUS capacity in the Middle East 2018 – 2030

• Upcoming hydrogen plants and their end use sectors.

Reasons to Buy

  • Obtain the most up to date information on recent developments and policies in the Middle East energy transition.
  • Identify opportunities in upcoming projects involving electric vehicles, solar and wind power generation, EVs, CCS and hydrogen production in the Middle East.
  • Assess competitors based on their active and pipeline capacities for renewable energy generation, CCS/CCU projects and hydrogen projects.
  • Develop business strategies by identifying the most promising sectors for future growth.

Acwa Power
Abu Dhabi Power Corporation
Saudi Aramco
Al Reyadah
InterContinental Energy
National Technology Enterprises Company
Power Construction Corporation of China
China National Machinery Industry Corp
Abengoa SA
JinkoSolar Holding Co Ltd
LONGi Green Energy Technology Co Ltd
Zhejiang Chint Electrics Co Ltd
Vestas Wind Systems AS
General Electric Co
Saipem SpA
Siemens AG
Mays Motors
Lucid Motors
Hyzon Motors
CPC Corp
Dutco Group of Companies
Air Products and Chemicals Inc
Neom Co
LCY Chemical Corp
Petroleum Development Oman
Emirates Stee
Saudi Power Procurement Co
Air Products and Chemcials Inc
Air Products Qudra
Softbank Group
Dubai Electricity and Water Authority
Saudi Aramco
Exxon Mobil Corp
National Oil and Gas Authority of Bahrain
Kuwait Petroleum Corp
Occidental Petroleum Corp
Scatec ASA
H2 Industires
Hydrogen Rise AG
Hyzon Motors.

Table of Contents

  • 1. Executive Summary
  • 2. Sector Grid and Leaders
  • 3. Power Outlook & Generation

    • 3.1. Renewable Energy: Policies & Economics
    • 3.2. Power Capacity Outlook Share
    • 3.3. Share of Power & Renewable Generation
    • 3.4. Share of Renewable Generation in GCC Countries
    • 3.5. Thermal Power Decommissioning & Emissions
    • 3.6. Major players: Solar Vs Wind Owners

  • 4. Electric Vehicles

    • 4.1. Regional Policies
    • 4.2. Regional Projects

  • 5. CCS/CCU

    • 5.1. CCS/CCU Policies
    • 5.2. CCS/CCU Projects

  • 6. Hydrogen

    • 6.1. Regional Policies
    • 6.2. Hydrogen Production in the Middle East
    • 6.3. Financing opportunities for hydrogen
    • 6.4. Intended Use Sectors for Hydrogen
    • 6.5. Likely Demand Sectors for Future Growth

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