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Middle East 2023 Top 5 Trends to Watch in Energy

Increased investment in integrating electric vehicle infrastructure into cities in the GCC countries

2023—What to Expect?

2023 will be a year of balance for energy. Conventional energy sources (oil and gas) will maintain their prominence in the GCC and the broader Middle East. Investments in new sources of energy will increase, driven by commitments made toward emissions reduction. We expect to see an increased push by utilities, regulators and associated entities toward decentralized infrastructure improvements. This would involve storage, EV integration, and solutions that integrate solar energy for cooling/heating/lighting. Utilities will need to look at new business models, as energy consumption declines.

Top 5 Trends to Watch in 2023

  1. Going decentralized: From buildings to utilities, the focus will be on decentralized solutions.
  2. Grid digitalization and EV integration: Two of the largest investor countries in power in the GCC will see an increased investment in integrating electric vehicle infrastructure into cities.
  3. Hydrogen will create new value chains: New business opportunities will emerge from investments in hydrogen infrastructure.
  4. Gas and solar continue to co-exist: Investments will continue in building new solar capacity and sustaining gas infrastructure.
  5. Oil to maintain highs: Oil will stay at least 15% above 5-year averages, though headwinds are expected

Schedule a dialog with our team today to understand how you can maximize your growth potential. Frost & Sullivan growth experts can help you with:

  • Strategizing for new business models
  • Identifying new technologies/product opportunities for investment
  • Localization/improving in-country value
  • Geographic expansion
  • Strategic partnering
  • Improving market share

About Abhay Bhargava, Vice President - Energy Environment, Industrial Practice, Frost Sullivan

Abhay is a business expansion specialist with thought leadership across the Energy, Sustainability, and Buildings sectors specializing in the core themes of digitalization, sustainability, geographic expansion, and localization. Holding 22 years of global experience across diversified industries, Abhay has extensive experience in the Middle East region, across Energy, Environment, Manufacturing, Managed S ervices & Industrial Automation.

He specializes in advisory and enablement, especially around strategy development, investment promotion, localization strategies, & mega trends, and has developed his experience by working across government
organizations, multinationals, family groups & conglomerates, and specialized companies.

Abhay’s knowledge leadership is reflected not just in his speaking engagements but also in how he has been invited to actively participate as a jury member for a number of prestigious awards in the Middle East
region ADIPEC (Oil and Gas) and MESIA (Solar) and in how his opinions on the industry have been frequently quoted in leading media publications across the Middle East.

View all posts by Abhay Bhargava, Vice President - Energy Environment, Industrial Practice, Frost Sullivan

Abhay Bhargava, Vice President - Energy Environment, Industrial Practice, Frost Sullivan

Abhay is a business expansion specialist with thought leadership across the Energy, Sustainability, and Buildings sectors specializing in the core themes of digitalization, sustainability, geographic expansion, and localization. Holding 22 years of global experience across diversified industries, Abhay has extensive experience in the Middle East region, across Energy, Environment, Manufacturing, Managed S ervices & Industrial Automation.

He specializes in advisory and enablement, especially around strategy development, investment promotion, localization strategies, & mega trends, and has developed his experience by working across government
organizations, multinationals, family groups & conglomerates, and specialized companies.

Abhay’s knowledge leadership is reflected not just in his speaking engagements but also in how he has been invited to actively participate as a jury member for a number of prestigious awards in the Middle East
region ADIPEC (Oil and Gas) and MESIA (Solar) and in how his opinions on the industry have been frequently quoted in leading media publications across the Middle East.

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