Market Research Report
United Arab Emirates Smart Grid Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||370158|
|Published||Content info||110 Pages
Delivery time: 2-3 business days
|United Arab Emirates Smart Grid Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 110 Pages||
The United Arab Emirates smart grid market is expected to register a CAGR of more than 2.5%, during the forecast period (2020 - 2025). Factors, like the ongoing investment in grid modernization, robust renewable energy growth, and the need to meet growing power demand, are expected to drive the market of the smart grid networks in the forecast period. However, developing a smart grid in a pace, with which the the country's growing renewable energy sector and the significant initial investment for the modification of the network, is expected to slightly restrain the market in the future.
Dubai Electricity and Water Authority (DEWA) is planning to develop an advanced infrastructure, aiming to make Dubai's smartest city through smart grid and smart meters in different phases, with an investment of AED 7 billion, by 2035. This is expected to drive the smart meter market significantly.
According to IRENA, the United Arab Emirates is expected to install more than 18 GW of solar energy by 2030, which, in turn, may drive the demand for the smart grid in the future, creating vast opportunities for market players.
Initiatives, like Smart Applications via Smart Grid and Meters launched by Dubai Electricity and Water Authority (DEWA), for the period of 2016-2020, are expected to drive the growth of smart grid network in the future.
Advanced Metering Infrastructure to Witness a Significant Growth
Supportive Government Initiatives and Renewable Energy to Drive the Market
The United Arab Emirates smart grid market is partially consolidated. Major companies in the market include General Electric Company, Honeywell International Inc., Schneider Electric SE, Dubai Electricity and Water Authority, and Korea Electric Power Corporation, among others.