Egypt Solar PV Market
The GMI Research forecasts that the Egypt Solar PV Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the good financing opportunities, a large availability of skilled PV companies, and good public awareness of PV technology.
Introduction of the Egypt Solar PV Market:
Solar Photovoltaics refers to the process of engendering electricity through the energy from the sun. The modern solar panels use daylight to produce electricity and do not need direct sunlight, although more can be created on bright and sunny days. Electricity produced from solar photovoltaic panels is inexhaustible and does not pollute, thus contributing to sustainable development.
Egypt Solar PV Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The Egypt solar PV market is contemplated to grow at a faster pace during the forecast period. This is primary attributed to the favorable strategic norms by the government to minimize the reliability of fossil fuels. Their environmentally friendly and renewable characteristics helped the market to attract a broad base of consumers. In addition, the augmenting need for sustainable energy sources and increasing initiatives to promote the power source is strengthening the solar PV market size. For example, the government is planning to establish Benban Solar Park, which will offer nearly two million tons of CO2 emissions per year. This initiative will pave the way for market growth. The Egypt government, in 2019, initiated the 1.8-gigawatt installation of a first-utility-scale PV plant in the country. The main motive of the project is to stimulate its generation capacity and integrate more renewable sources into the mix. In accordance with the Intergovernmental Panel on Climate Change, the climatic condition in Egypt is extensively transforming by the increase in the sea and air surface temperatures at an average of 1 degree Celsius above the pre-industrial levels. Further, global warming will shrink agricultural productivity, induce flooding in the fertile Nile Delta, and will cause deaths due to heat stress.
Additionally, the reducing cost of these modules led by the aggravating volumes of production is another factor that is bolstering the market growth. A lower value of raw materials assisted in decreasing the component cost, thereby impelling the market growth.
Egypt Solar PV Market Segmentation:
Segmentation by Product Type
- Thin film
- Multi-Si
- Mono-Si
Segmentation by End User
- Residential
- Commercial
- Utility
Segmentation by Deployment
- Ground Mounted
- Rooftop Solar
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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