South America Thermal Power Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 1.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Thermal Power Market Analysis
The South America thermal power market is expected to grow at a CAGR of more than 1% during the forecast period of 2020-2025. Factors such as increasing population and power consumption are resulting in the growth of the thermal power market. With growing power demand, upcoming thermal power projects are expected to further drive the market significantly. On the other hand, the phasing out of oil and coal-based power plants in few countries in the region and increasing competition from renewable energy sources are expected to restrain the market growth of thermal power during the forecast period.
- With the largest share in electricity generation, natural gas is leading the market. Due to the advantages of natural gas over other thermal energy sources, the source is expected to continue its dominance during the forecast period
- According to IRENA, total primary energy supply is expected to reach 46 EJ by 2050 from 27 EJ in 2017. The anticipated increase in energy supply is likely to create ample opportunities for thermal energy in the future.
- Brazil is anticipated to dominate the market in the upcoming period. With future projects and with the highest energy demand in the region, the nation is driving the market.
South America Thermal Power Market Trends
This section covers the major market trends shaping the South America Thermal Power Market according to our research experts:
Natural Gas Power Plants to Dominate the Market
- With the decreasing interest in coal and oil for energy production and the negligible presence of nuclear power, natural gas is expected to increase its share during the forecast period.
- In August 2019, Siemens AG shipped 14 industrial gas turbines to Bolivia to expand the capacity of the Entre Rios combined-cycle plant. With this significant growth in thermal energy is expected.
- In 2020, Wartsila Group won a project for a 200 MW power plant in the Northern Andes region. The plant will be powered by 11 Wärtsilä 50SG engines running on natural gas and is expected to be operational by the end of 2021. The South American region witnessed growth in electricity generation from natural gas. In 2019, the area generated 245 TWh of electricity from natural gas.
- Although natural gas projects are facing competition from renewables but with increased production of natural gas as well as the development of regasification infrastructure, the segment is expected to dominate the market.
Brazil to Dominate the Market
- Brazil has two operating nuclear power plants. The nuclear power amounted to 3% of the total electricity generation in the country in 2019. As of June 2020, nuclear power operable capacity of Brazil is around 1.88 GWe.
- In 2018, MHPS and Shell formed a consortium to build 565-MW Marlim Azul plant that will be powered by MHPS gas turbines and is expected to go into operation at the beginning of 2023.
- GNA Port of Açu III is a 1.6GW LNG-fired thermopower plant which is still awaiting a decision on construction. The start of operations at the plant is scheduled for January 2023, and its operating permit is expected to be valid for 35 years.
- With total electricity generation 625 TWh in 2019, Brazil holds the largest share in the regional market. With upcoming projects, the nation is expected to continue its dominance during the forecast period as well.
South America Thermal Power Industry Overview
The South America thermal power market is moderately fragmented. Some of the major companies include Colbún S.A, Pampa Energía SA, AES Corporation, Enel S.p.A, and Centrais Eletricas Brasileiras SA.
South America Thermal Power Market Leaders
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Centrais Eletricas Brasileiras SA
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AES Corporation
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Pampa Energía SA
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Enel S.p.A
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Colbún S.A
*Disclaimer: Major Players sorted in no particular order
South America Thermal Power Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of Study
- 1.2 Market Definiton
- 1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Installed Capacity and Forecast in MW, till 2025
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
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4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
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4.7 Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitute Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Source
- 5.1.1 Oil
- 5.1.2 Natural Gas
- 5.1.3 Coal
- 5.1.4 Nuclear
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5.2 Geogrpahy
- 5.2.1 Brazil
- 5.2.2 Argentina
- 5.2.3 Rest of South America
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
- 6.3.1 YPF SA
- 6.3.2 Isagen S.A. ESP
- 6.3.3 Centrais Eletricas Brasileiras SA
- 6.3.4 Pampa Energ a SA
- 6.3.5 Enel S.p.A
- 6.3.6 Colbun S.A
- 6.3.7 AES Corporation
- 6.3.8 Siemens AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablitySouth America Thermal Power Industry Segmentation
The South America thermal power market report includes:
| Source | Oil |
| Natural Gas | |
| Coal | |
| Nuclear | |
| Geogrpahy | Brazil |
| Argentina | |
| Rest of South America |
South America Thermal Power Market Research FAQs
What is the current South America Thermal Power Market size?
The South America Thermal Power Market is projected to register a CAGR of greater than 1% during the forecast period (2024-2029)
Who are the key players in South America Thermal Power Market?
Centrais Eletricas Brasileiras SA , AES Corporation , Pampa Energía SA , Enel S.p.A and Colbún S.A are the major companies operating in the South America Thermal Power Market.
What years does this South America Thermal Power Market cover?
The report covers the South America Thermal Power Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the South America Thermal Power Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Thermal Power Industry Report
Statistics for the 2024 South America Thermal Power market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Thermal Power analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
