The electricity market is expected to grow by 3.4% by 2026. A trend that could also increase the country’s dependence on the outside world. In 2018, Gabon imported 403 GWh of electricity from foreign grid lines to meet its electricity needs.
There are bright prospects in the electricity market. According to a report by MarketInsightsReport, a specialist market research provider based in North Carolina, this sector will experience 3.4% growth by 2026. This document is proving to be a valuable database for business strategists. ‘companies.
Indeed, the report provides “an overview of the industry with growth analysis and historical and futuristic data on cost, revenue, demand and supply (if applicable). Research analysts provide a detailed description of the value chain and distributor analysis. This market research provides comprehensive data that enhances the understanding, scope and application of this report, ”said MarketInsightsReport.
The document states that the hydropower sector is expected to dominate the market in Gabon. In 2018, the country produced 1,103.5 GWh of electricity from hydropower plants. However, the country is still dependent on the outside since in 2018, in particular, it imported 403 GWh of electricity from lines of foreign networks to meet its electricity needs.
Meanwhile, the report predicts that foreign investment to increase power generation capacity is expected to stimulate the market. Indeed, Gabon is one of the few countries where urban electrification reached over 97% in 2019. However, access to electricity in rural areas remains low compared to urban areas. Suddenly, “the Gabonese government invites foreign investment to increase the installed capacity to meet the electricity needs of rural areas,” says the report.
