Middle East Power Sector Analysis
Power sector in the Middle East has been growing strongly for past few years and has been attracting international players for investment in generation, transmission and distribution of electricity. Countries like UAE, Jordan, Turkey, etc. have shown tremendous performance in electricity demand and installed capacity and are further poised to register impressive growth in coming years. Increasing residential subscribers, rapid industrialization, government subsidies are among the prime factors pushing the electricity demand in the region and thus, resulting in a burgeoning electricity sector with huge future growth potentials.
According to our latest research “Middle East Power Sector Analysis” Oman represents the fastest growing power sector in the entire Middle East region. Even in the wake of economic slowdown, the electricity production and consumption orchestrated double-digit year on year growth. Rapidly growing economy and increasing residential demand have fueled the growth of the power sector in the country. The developments in the Oman electricity sector are expected to augment in coming times, with the electricity production and consumption expected to grow at CAGR of around 14.0% and 13.7% respectively during 2010-2013.
Report has identified that apart from Oman, various other countries including UAE, Saudi Arabia, Jordan, etc. also have strong future growth potentials. The governments in these countries have liberalized their electricity sector policies and are currently in the process of formulating privatization strategies. This has attracted significant private sector investments, especially in Oman, UAE, Qatar and Turkey. The privatization of the electricity sector will not only strengthen their power generation infrastructure, but also an efficient management of transmission and distribution will provide desired balance between power demand-supply mechanisms.
Moreover, the developments are not just limited to conventional oil and gas based power generation infrastructure, but the countries are also striving hard to utilize their available renewable energy potentials. For instance, Turkey planned to invest US$ 1.57 Billion in its renewable energy sector to generate above 1100 MW capacity from wind and other renewable sources. In addition, the country has set an ambitious goal of producing 25% of power through renewable energy sources by 2020. Various other countries such as Jordan and UAE are also focusing on renewable energy sector developments, which will surely benefit them in their long chase of attaining sustainable power sector growth.
Our report “Middle East Power Sector Analysis” is an outcome of extensive research and objective analysis of the Middle East power industry, mainly focusing on potential regional markets. The report provides country level reliable statistics and analysis on electricity generation, supply-demand and consumption trends. A separate GCC grid interconnection analysis along with country level renewable developments facilitates an all-round market understanding. In addition, the future projections included in the report have been cautiously made after analyzing current market scenario, past trends and ongoing developments in the market. Thus, our report presents the most unbiased picture of the industry.
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