• 出版社/出版日：Mordor Intelligence / 2021年5月25日
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The Turkey renewable energy market is expected to grow at a CAGR of around 4.5% during the forecast period. The COVID-19 affected the renewable energy market of the country negatively by delaying several projects and auctions including mini renewable energy resource zone (YEKA) auctions for solar photovoltaic systems. The pandemic resulted in the reduced annual additions of solar energy in 2020. Due to this, the country is aiming to increase solar PV installation in 2021. The primary driver for the market includes the government initiatives to limit its dependence on fossil fuels and to have low-cost and sustainable energy sources. However, the lack of proper grid infrastructure to integrate renewable energy sources is expected to hinder the market growth during the forecast period.
– The hydropower segment accounted for a significant market share in 2020, and it is likely to dominate the market during the forecast period.
– In April 2021, the officials of the Offshore Wind Energy Association (DÜRED) stated that the total offshore wind power potential stands at 75 gigawatts (GW) in Turkey. Such a huge potential of offshore wind energy is expected to create significant opportunities for the wind farm operators and developers in the near future.
– The increasing demand for energy coupled with supportive government policies is likely to drive the renewable energy market during the forecast period.
Key Market Trends
Hydropower to Dominate the Market
– Turkey is a rich country in terms of hydroelectric resources. Although the current level of installed hydropower capacity is positive, with over 28.5 GW overall – 8 GW from river plants, and 20.5 reservoir dams – there is still an additional economical potential of up to 50 GW.
– Hydropower has accounted for more than 50% of the total renewable energy installed capacity in Turkey as of 2020.
– In February 2021, GE Renewable Energy has successfully completed the 500 MW Lower Kaleköy Hydropower at the Lower Kaleköy Dam in Turkey.
– The country is developing renewable energy particularly hydropower at a considerable pace due to large-scale investments. Owing to this, the total renewable capacity in Turkey increased 44.5 GW in 2019 from 31.5 in 2015.
– Therefore, factors such as efforts to reduce electricity imports and dependence on fossil fuels, the hydropower segment is expected to continue its dominance during the forecast period.
Increasing Energy Demand and Supportive Government Policies to Drive the Market
– Energy demand in Turkey is increasing rapidly for the past few years, which has led the government to focus on both conventional and renewable energy resources. It is estimated that energy consumption has increased at an average rate of around 7.5% every year.
– As of 2019, Turkey is dependent on fossil fuels for electricity generation. However, the country increased its renewable energy share to nearly 43% in the country’s energy mix in 2019 in comparison to 32% in 2018.
– One of the most important causes of the upward change in the renewable energy market in Turkey is reducing the country’s dependence on foreign resources for energy by decreasing energy imports.
– With an increase in energy demand, the government is planning to increase its investment in renewable resources. It is estimated that the country is going to make an investment of around USD 61 billion by 2023 to mitigate the rising energy demand and to expand its existing renewable energy market.
Turkey’s renewable energy market is moderately fragmented. Some of the major players operating in the market include IC Ictas Energy Investment Holding, Statkraft AS, Poyry Plc., Sanko Enerji, JinkoSolar Holding Co. Ltd., and others.
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1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.2 Turkey Renewable Energy Mix, 2020
4.3 Renewable Energy Installed Capacity and Forecast in GW, till 2026
4.4 Recent Trends and Developments
4.5 Government Policies and Regulations
4.6 Market Dynamics
4.7 Supply Chain Analysis
4.8 PESTLE Analysis
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 IC Ictas Energy Investment Holding
6.3.2 Statkraft AS
6.3.3 Poyry Plc.
6.3.4 Sanko Enerji
6.3.5 Axpo Holding AG
6.3.6 JinkoSolar Holding Co. Ltd.
6.3.7 STEAG Solar Energy Solutions
6.3.8 Afyon Geothermal Investments A.S
7 MARKET OPPORTUNITIES AND FUTURE TRENDS