Brazil Renewable Energy Market Size (2024 - 2029)

The Brazil Renewable Energy Market is projected to experience significant growth over the forecast period, driven by increasing investments and developments in the wind energy sector, along with supportive government policies. The expansion of upcoming renewable energy projects is anticipated to further propel the market. Despite challenges such as limited land and power capacity from variable renewable energy sources, Brazil's ambitious goal to exceed its renewable energy installed capacity by 2030 is expected to create substantial opportunities for market expansion.

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Market Size of Brazil Renewable Energy Industry

Brazil Renewable Energy Market Summary
Study Period 2024 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period
CAGR (2024 - 2029) 6.40 %
Market Concentration Medium

Major Players

Brazil Renewable Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

Brazil Renewable Energy Market Analysis

The Brazil Renewable Energy Market size is estimated at 221.45 gigawatt in 2024, and is expected to reach 301.75 gigawatt by 2029, growing at a CAGR of 6.40% during the forecast period (2024-2029).

  • Over the long term, factors such as the increasing investments and developments in the wind energy sector and supportive government policies are expected to drive the market during the forecast period. Upcoming renewable energy projects are likely to drive the Brazilian renewable energy market during the forecast period.
  • However, limited land and limited power capacity by variable renewable energy sources are expected to hinder the market growth during the study period.
  • Brazil has aimed to exceed its renewable energy installed capacity to 60 GW by 2030. This is expected to provide ample opportunities for the market studied in the coming years.

Brazil Renewable Energy Industry Segmentation

Renewable energy is the energy collected from renewable resources such as sunlight, wind, the movement of water, and geothermal heat that are naturally replenished.

The Brazilian renewable energy market is segmented by type. By type, the market is segmented into wind, solar, hydro, bioenergy, and other types. For each segment, the installed capacity and forecasts have been done based on gigawatts (GW).

By Type
Wind
Solar
Hydro
Bioenergy
Other Types
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Brazil Renewable Energy Market Size Summary

The Brazilian renewable energy market is poised for significant growth, driven by increasing investments and supportive government policies, particularly in the wind energy sector. The country aims to enhance its renewable energy capacity substantially by 2030, creating numerous opportunities for market expansion. Despite challenges such as limited land availability and the variable nature of renewable energy sources, Brazil's commitment to exceeding its renewable energy targets is expected to propel the market forward. The wind energy segment, dominated by onshore installations, is anticipated to experience considerable growth, with Brazil emerging as a leader in Latin America's renewable energy landscape. The introduction of offshore wind projects further underscores the country's potential to diversify and strengthen its energy portfolio.

Brazil's renewable energy sector is characterized by a diverse mix of hydro, wind, solar, and biomass energy sources, contributing to a robust increase in installed capacity. The country benefits from excellent solar radiation levels, making solar energy a promising area for development. Despite economic and political challenges, Brazil continues to attract international investment in renewable projects, supported by favorable government regulations. Notable developments include significant solar and wind projects, such as the Ventos de Santa Eugênia Wind Complex and the upcoming solar plant in Minas Gerais. The market remains moderately fragmented, with key players like ENGIE Brazil and Eletrobras Furnas driving innovation and expansion. These factors collectively position Brazil as a leading force in the renewable energy sector, with a strong outlook for future growth.

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Brazil Renewable Energy Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Renewable Energy Installed Capacity and Forecast in MW, till 2029

    3. 1.3 Brazil Renewable Energy Mix, 2023

    4. 1.4 Recent Trends and Developments

    5. 1.5 Government Policies and Regulations

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

        1. 1.6.1.1 Increasing Investments in Wind and Solar Energy

        2. 1.6.1.2 Supportive Government Policies in Developing Renewable Energy

      2. 1.6.2 Restraints

        1. 1.6.2.1 Limited Land And Limited Power Capacity By Variable Renewable Energy Sources

    7. 1.7 Supply Chain Analysis

    8. 1.8 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Wind

      2. 2.1.2 Solar

      3. 2.1.3 Hydro

      4. 2.1.4 Bioenergy

      5. 2.1.5 Other Types

Brazil Renewable Energy Market Size FAQs

The Brazil Renewable Energy Market size is expected to reach 221.45 gigawatt in 2024 and grow at a CAGR of 6.40% to reach 301.75 gigawatt by 2029.

In 2024, the Brazil Renewable Energy Market size is expected to reach 221.45 gigawatt.

Brazil Renewable Energy Market Report Snapshots

Brazil Renewable Energy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)