South Africa Wind Energy Market to be Dominated by Onshore Through 2028
Growing investments in
deploying new wind farms and government initiatives for erecting new wind
projects are likely to propel the South Africa wind energy market during the
forecast period of 2024-2028.
According to TechSci Research
report, “South Africa Wind Energy Market – By Region, Competition
Forecast & Opportunities, 2028,” the wind energy market in South Africa
is expected to see considerable growth during the forecast period. In the
future years, the market for wind energy is expected to be driven by the rising
need to switch from conventional to renewable energy sources. The production of
solar and wind energy, which was seen as expensive two decades ago, is now
thought to be more cost-competitive than recently constructed coal or gas
facilities. Additionally, it is anticipated that in the next few years
operating new wind and solar energy facilities would become more cost-effective
than maintaining coal or gas-fired ones.
The future need for consistent,
affordable, sustainable energy is anticipated to fuel the market for wind
energy. Further predicted growth for the wind energy sector in South Africa is
the government's favorable regulatory and policy frameworks that support the
development of renewable energy.
Furthermore, South Africa's
energy mix is anticipated to heavily rely on wind energy. By 2030, South
Africa's Integrated Resource Plan projects that there will be 14,400 MW more
wind power installed there. The nation's production of renewable energy will
rise dramatically as a result. The overall amount of energy produced in 2021
grew by 2% from the previous year to a total of roughly 244 TWh.
In September 2022, the 6th Bid
Window of the Renewable Energy Independent Power Producer Procurement Programme
(REIPPPP) will see the South African government increase the amount of wind
energy allocated to 3,200 MW. With the use of renewable energy sources, this
breakthrough addressed South Africa's energy problems.
Additionally, in December 2022, a
total of 56 wind and solar projects totaling 9,600 MW were submitted by
prospective bidders during the 6th Bid Window. Also, 23 of the 56 projects are
wind-based, and their combined capacity exceeds 4,100 MW.
With active initiatives by the
government of South Africa focusing on installing renewable energy projects,
the wind energy market can be seen driving ahead in the future.
Browse over XX market data
Figures spread through XX Pages and an in-depth TOC on the “South Africa Wind Energy Market.”
The South Africa wind energy
market is segmented by location, component type, end-user, and region. Based on
location, the market is segmented into onshore and offshore. Based on
component type, the market is segmented into turbine, support structure,
electrical infrastructure, and others. Based on end user, the market is
segmented into industrial, residential, and commercial. Based on region, the
market is segmented into Gauteng, KwaZulu-Natal, Western Cape, Eastern Cape,
Mpumalanga, Limpopo, North West, Free State, and Northern Cape.
Based on location, the onshore
segment dominated the South Africa wind energy market in 2022 because about
2,956 MW of wind energy were produced nationwide in 2021, 440 MW of which came
from new onshore wind installations. In addition, the South African Department
of Energy released an integrated resource strategy in 2021 that predicts a 26%
increase in total renewable energy sources over the following twelve years.
According to the plan, the nation wants to attain 11.5 GW of onshore wind
capacity. It implies that throughout the anticipated period, the onshore sector
will expand. In addition, the Levelized Cost of Energy (LCOE) for wind has
significantly decreased due to the participation of global market participants
and the quick adoption of renewable energy sources, driving the expansion of
the wind market during the projection period.
Based on component type, the
turbine segment dominated the South Africa wind energy market in 2022 as a
result of technological advancements and lower wind turbine costs. Wind turbine
blades are increasingly wider and lighter as modern wind turbine technology
improves turbine performance and power generation efficiency over previous
generations.
Major market
players operating in the South Africa wind energy market are:
- Vestas
Southern Africa (Pty) Ltd
- Enel
Green Power S.p.A.
- Siemens
Gamesa Renewable Energy S.A.
- EDF
South Africa
- Nordex
Energy South Africa Ltd.
- Mainstream
Renewable Power Ltd
- Eskom
Holdings SOC Ltd
- Hexicon
AB
- Juwi
Renewable Energies (Pty) Ltd
- Acciona
Energia SA
Download Free Sample Report
Customers can also request
for 10% free customization on this report.
“Due to the growing demand for
clean energy, increased attention on lowering carbon emissions, and
encouragement for environmental conservation, the market for wind energy in
South Africa is predicted to expand considerably throughout the projected
period. South Africa is the world's seventh-largest producer of coal, and its
thermal power plants are largely coal-dependent. the country’s coal output was
projected to reach 234,495 tons mn in December 2021. This demonstrates a
decline compared to the prior estimate of 245 818 Tonne mn for December 2020.
Due to the country's present energy crisis, steady growth in power consumption
is anticipated during the forecast period. To adequately make up for the
retired capacity and fulfill the rising energy demand, the country is focusing
on balancing the closure of its coal-fired power and moving toward wind energy.
Hence, due to such factors, the South Africa wind energy market will propel in
upcoming years,” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based global management consulting firm.
South Africa Wind Energy
Market By Location (Onshore, Offshore), By Component Type (Turbine,
Support Structure, Electrical Infrastructure, and Others), By End User
(Industrial, Residential, and Commercial), By Region, Competition, Forecast
& Opportunities, 2028 has evaluated the future growth potential of the
South Africa wind energy market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the South Africa
wind energy market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com