Market Size of Chile Wind Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR (2024 - 2029) | 14.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Chile Wind Energy Market Analysis
The Chile Wind Energy Market size is estimated at 5.15 gigawatt in 2024, and is expected to reach 10.14 gigawatt by 2029, growing at a CAGR of 14.5% during the forecast period (2024-2029).
- Over the medium term, the major driving factors of the market are the favorable government policies, increasing investments in wind power projects, and the reduced cost of tariffs for wind power generation are expected to drive the Chilean wind energy market during the forecast period.
- On the flip side, the increasing adoption of alternate energy sources, such as gas-based power and solar power, is likely to hinder the market growth.
- Nevertheless, Chilean ambitious wind energy targets are likely to provide huge opportunities for the market studied.
Chile Wind Energy Industry Segmentation
Wind energy refers to the process of using the movement of air to convert it into mechanical power or electricity.
The Chilean wind energy market is segmented by location of deploymen into onshore and offshore. The market size and forecasts for each segment have been done regarding installed capacity.
| BY LOCATION OF DEPLOYMENT | |
| Onshore | |
| Offshore |
Chile Wind Energy Market Size Summary
The Chilean wind energy market is poised for significant growth over the forecast period, driven by favorable government policies and increasing investments in wind power projects. The reduction in tariffs for wind power generation is also expected to bolster market expansion. Despite the potential hindrance from the adoption of alternative energy sources like gas-based and solar power, the ambitious wind energy targets set by the Chilean government present substantial opportunities for market development. The onshore wind energy sector, in particular, is anticipated to experience rapid growth as the country continues to promote wind power-based electricity generation to meet its rising energy demands.
Chile's commitment to renewable energy is evident in its strategic plans to increase the share of renewables in its energy mix, aiming for a significant portion of electricity generation to come from renewable sources by 2035 and 2050. The country's decarbonization plan, which includes phasing out coal plants by 2040, is expected to further stimulate wind energy projects. The involvement of multinational corporations and local firms, supported by government initiatives, is driving the expansion of wind power installations. Key players in the market, such as Corporacion Acciona Energias Renovables SA, √òrsted AS, and Siemens Gamesa Renewable Energy SA, are actively contributing to the development of wind energy projects, underscoring the moderately fragmented nature of the market.
Chile Wind Energy Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Wind Energy Installed Capacity and Forecast, till 2028
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1.3 Government Policies and Regulations
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1.4 Recent Trends and Developments
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.1.1 Increasing Investments in Wind Power Projects
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1.5.1.2 Supportive Government Policies
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1.5.2 Restraints
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1.5.2.1 Increasing Adoption of Alternate Energy Sources
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 BY LOCATION OF DEPLOYMENT
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2.1.1 Onshore
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2.1.2 Offshore
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Chile Wind Energy Market Size FAQs
How big is the Chile Wind Energy Market?
The Chile Wind Energy Market size is expected to reach 5.15 gigawatt in 2024 and grow at a CAGR of 14.5% to reach 10.14 gigawatt by 2029.
What is the current Chile Wind Energy Market size?
In 2024, the Chile Wind Energy Market size is expected to reach 5.15 gigawatt.
