DUBLIN, March 1, 2024 /PRNewswire/ — The “Africa Energy Transition – Sectors and Companies Driving Development” report has been added to ResearchAndMarkets.com’s offering.
Africa’s power market still relies on a combination of thermal power and large-scale hydropower projects to cater to most of its demand. However, the region’s energy transition is gaining pace as countries increasingly capitalize on the falling cost of producing renewable energy. Meanwhile, increasing policy support is causing hydrogen, CCUS and electric vehicles to gain traction.
Africa’s power market still relies on a combination of thermal power and large-scale hydropower projects to cater to most of its demand. However, the region’s energy transition is gaining pace as countries increasingly capitalize on the falling cost of producing renewable energy and the region’s rich renewable resources. Onshore wind and solar PV are expected to experience a strong growth in capacity in the run up to 2035, experiencing a CAGR of 8% and 8.3%, respectively.
The active and pipeline capacity of Africa’s hydrogen market is also expected to exceed 21 mtpa by 2030. However, electric vehicles will continue to struggle for traction within Africa’s light vehicle market, with low rates of ownership and the tendency to import used internal combustion engine vehicles compounding issues of affordability and reliable charging infrastructure for many consumers. Meanwhile, there has been a significant uptick in activity related to carbon capture, storage and utilization technology, with 6 projects scheduled to come online before 2030, the majority of which will be commercial projects.
Key Highlights
Many countries in Africa are working to bring grid access to all segments of the population, with transmission investment reaching $7.2 billion for the region in 2023. This, coupled with a fast-growing population, means that total generation is expected to increase by 47% between 2023-2035.Morocco, South Africa and Tanzania will experience some of the strongest growth in renewable generation between 2022 and 2035, chiefly due to the build out of large scale solar PV and wind projects.28 countries in Africa now have emissions standards for used vehicles. It is likely that the environmental credential of used vehicles will come under closer scrutiny in years to come.Despite having no active capacity, the region has 3.8 mtpa of pipeline CCUS capacity. However, the region will for now remain a minority player in the global CCUS market, with current global active CCUS capacity standing at 51 mtpa.This growth trend will also be reflected in Africa’s hydrogen market, where active and pipeline capacity is forecast to exceed 21 mtpa in 2030, which represents a CAGR of 139% across the same period.
Report Scope
Regional Energy Transition in AfricaPolicies supporting energy transitionPower renewable capacity and generation by 2035 and thermal decommissioning capacityActive and upcoming CCUS projectsHydrogen market analysis
Key Topics Covered:
Executive SummarySector Readiness and LeadersGlobal ContextImpact of Climate Change on AfricaPopulation Driving Energy DemandRenewable Energy: Policies & EconomicsPower Capacity Outlook ShareShare of Power & Renewable GenerationLargest Economies – Renewable ShareThermal Power Decommissioning & EmissionsMajor players: Solar Vs Wind Owners, Manufactures and EPCsElectric Light Vehicle Production OutlookPoliciesCCS/CCU ProjectsGlobal Hydrogen Market OutlookKey players in Africa’s hydrogen marketAfrica’s largest upcoming hydrogen projectsHydrogen Policies and initiatives
Company Coverage
ACME Cleantech Solutions Pvt LtdEgyptian Electricity Transmission CoNew and Renewable Energy AuthorityBP PlcBritish International Investment plcNorfundCWP GlobalJearrard Energy Resources LtdConjuncta GmbHInfinity Energy SAEMubadala Investment CoChariot Oil and Gas LtdEren Groupe SATotalEnergies SAFalcon CapitalHydrogene de FranceItochu CorpSasol LtdXlinks LtdTuNur LtdEnergias de Portugal SAAbu Dhabi Power CorpEngie SAAl Nowais Investments LLCEgyptian Electricity Holding CoAcwa Power CoAker ASAElectricite de France SAHassan Allam UtilitiesEthiopian Electric Power CorpShapoorji Pallonji & Co Pvt LtdChina Energy Engineering Group Co LtdPower Construction Corporation of ChinaUrban Green Technologies LLCScatec ASATSK GroupEast China Survey and Design Institute Co LtdChina Energy Construction International Corp LtdSENER Grupo de Ingenieria SAEnergy China International GroupJinkoSolar Holding Co LtdJA Solar Technology Co LtdSiemens Energy AGCanadian Solar IncLONGi Green Energy Technology Co LtdYingli Green Energy Holding Co LtdHanwha CorpBYD Co LtdSustainable Equities GroupEnel SpASiemens AGVestas Wind Systems ASNordex SEEnvision Energy LtdTerra Global Energy DevelopersORIX CorpLongyuan Engineering South Africa (Pty) LtdGoldwind Science & Technology Co LtdGeneral Electric CoEnercon GmbHGuodian United Power Technology Co LtdSuzlon Energy LtdSany Group Co LtdEquinor ASASonatrach SpAEgyptian Petroleum CorpEni SpAEnergean PlcNational Oil CorpEmpresa Nacional de Hidrocarbonetos EPTCRK Ltd
For more information about this report visit https://www.researchandmarkets.com/r/sbacoo
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