Market Size of South America Renewable Energy Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 7.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Renewable Energy Market Analysis
The South American market for renewable energy is expected to register a CAGR of more than 8% from 2022 to 2027.
The market was negatively impacted by COVID-19 in 2020. Currently. The market has reached pre-pandemic levels.
- Long-term, things like government policies and efforts to meet the growing need for power with renewable energy sources are expected to contribute a lot to the growth of the market.
- On the other hand, the South American renewable energy market is expected to slow down during the forecast period due to a lack of transmission infrastructure that can send and distribute renewable energy.
- Even so, putting the region's large offshore wind potential to commercial use and developing it are still big opportunities for the market after the forecast period.
South America Renewable Energy Industry Segmentation
Renewable energy is energy that comes from a source that doesn't run out when it's used, like solar or wind power.
The South American renewable energy market is segmented by type and geography. By type, the market is segmented into hydro, solar, bioenergy, wind, and others. The report also covers the market size and forecasts for the South American renewable energy market across the major countries. For each segment, the market sizing and forecasts have been done based on installed capacity (GW).
| Type | |
| Hydro | |
| Solar | |
| Bioenergy | |
| Wind | |
| Other Types |
| Geography | |
| Brazil | |
| Chile | |
| Argentina | |
| Rest of South America |
South America Renewable Energy Market Size Summary
The South American renewable energy market is poised for substantial growth, driven by favorable government policies and the increasing demand for sustainable power sources. Despite the challenges posed by inadequate transmission infrastructure, the region's vast potential in offshore wind energy presents significant opportunities for future development. The market has rebounded to pre-pandemic levels, with Brazil and Chile leading the charge in solar energy capacity expansion. Brazil, in particular, is a dominant force in the region's renewable energy landscape, boasting a diverse energy mix that includes substantial hydropower, wind, and solar energy contributions. The country's commitment to enhancing its renewable energy share is further supported by declining solar power costs and strategic government initiatives.
The renewable energy sector in South America is characterized by a fragmented market with key players such as Enel Green Power S.p.A., Iberdrola S.A., Aes Gener S.A., Vestas Wind Systems A/S, and Electricite de France SA. Brazil's renewable energy projects are expected to spearhead market growth during the forecast period, supported by ongoing and upcoming projects. Notable developments include the Mendubim solar project in Brazil and several large-scale solar power plants in Peru, highlighting the region's commitment to expanding its renewable energy infrastructure. Chile also continues to invest in solar energy projects, further contributing to the region's renewable energy capacity growth.
South America Renewable 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 Renewable Energy Mix, 2019
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1.3 Installed Capacity and Forecast in GW, till 2027
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1.4 Recent Trends and Developments
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1.5 Government Policies and Regulations
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1.6 Market Dynamics
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1.6.1 Drivers
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1.6.2 Restraints
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1.7 Supply Chain Analysis
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1.8 Porter's Five Forces Analysis
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1.8.1 Bargaining Power of Suppliers
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1.8.2 Bargaining Power of Consumers
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1.8.3 Threat of New Entrants
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1.8.4 Threat of Substitute Products and Services
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1.8.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Hydro
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2.1.2 Solar
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2.1.3 Bioenergy
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2.1.4 Wind
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2.1.5 Other Types
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2.2 Geography
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2.2.1 Brazil
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2.2.2 Chile
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2.2.3 Argentina
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2.2.4 Rest of South America
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South America Renewable Energy Market Size FAQs
What is the current South America Renewable Energy Market size?
The South America Renewable Energy Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in South America Renewable Energy Market?
Enel Green Power S.p.A. , Iberdrola S.A. , Aes gener sa , Vestas Wind Systems A/S and Electricite de France SA are the major companies operating in the South America Renewable Energy Market.
