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Chile Wind Energy Market Size, Share, Trends, Growth, Report: By Location: Onshore, Offshore; By Application: Utility, Non-utility; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Chile Wind Energy Market Outlook
The Chile wind energy market size reached approximately 4.58 giga watt in 2023. The market is projected to grow at a CAGR of 3.84% between 2024 and 2032, reaching a volume of around 6.26 giga watt by 2032.
Key Takeaways
- Wind and solar power surpassed coal in generating Chile's electricity for the first time during a complete 12-month span, spanning from August 2021 to September 2022.
- Chile has established ambitious targets in its National Energy Policy 2050, aiming to achieve 60% of the country’s electricity production from clean energy sources by the end of 2035 and 70% by 2050, respectively.
- A prominent player in the renewable energy sector, Chile has become one of largest markets for wind power in Latin America.
As per the Chile wind energy market analysis, the increasing necessity to decrease greenhouse gas emissions is propelling the market forward. The rising energy consumption due to rapid urbanisation and increasing population is playing a crucial role in driving this demand. Ongoing technological advancements, including the utilisation of advanced materials, digital technologies, and enhanced manufacturing techniques that enhance the competitiveness and reliability of wind energy, are further stimulating the market growth. Additionally, wind energy contributes to national security by reducing reliance on imported fossil fuels and enhancing energy independence.
Chile has established an ambitious objective of achieving a 70% conversion of its overall energy consumption to renewable sources by 2030. Additionally, the nation has committed to attaining carbon neutrality by 2050. The country's energy transition plan has undergone significant development in recent times, propelled by a combination of widespread political backing and the implementation of cutting-edge green technologies. This progress has also played a pivotal role in fostering the demand for wind energy within the region, thereby leading to the Chile wind energy market expansion.
Moreover, to expand their market base, market players are increasingly engaging in mergers and acquisitions and strategic collaborations. In October 2022, Sonnedix, an international renewable energy producer (REP), successfully finalised the acquisition of ARCO, which is one of the largest independent renewable power producers in Chile. Through this acquisition, Sonnedix ventured into the wind generation sector in Chile, with the addition of 290MW of renewable energy projects into its portfolio, further increasing its total capacity in Chile to over 1GW and its global capacity to 7.4GW.
Market Segmentation
Chile Wind Energy Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Location
- Onshore
- Offshore
Market Breakup by Application
- Utility
- Non-utility
Competitive Landscape
The market players are utilising advanced technologies, including 3D-printed turbines, floating turbines, vertical-axis turbines, and hybrid systems integrating wind and solar power, to enhance the efficiency and cost-effectiveness of wind energy.
- Siemens Energy
- Acciona, SA
- EDF Group
- Statkraft AS
- Mainstream Renewable Power Limited
- Enel S.p.A.
- Grupo Ibereólica Renovables
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Location |
|
| Breakup by Application |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Wind Energy Market Overview
8.1 Key Industry Highlights
8.2 Latin America Wind Energy Historical Market (2018-2023)
8.3 Latin America Wind Energy Market Forecast (2024-2032)
8.4 Latin America Wind Energy Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Chile
8.4.5 Others
9 Chile Wind Energy Market Overview
9.1 Key Industry Highlights
9.2 Chile Wind Energy Historical Market (2018-2023)
9.3 Chile Wind Energy Market Forecast (2024-2032)
10 Chile Wind Energy Market by Location
10.1 Onshore
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Offshore
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Chile Wind Energy Market by Application
11.1 Utility
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Non-utility
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyers Powers
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Siemens Energy
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Acciona, SA
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 EDF Group
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Statkraft AS
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Mainstream Renewable Power Limited
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Enel S.p.A.
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Grupo Ibereólica Renovables
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Wind Energy Market: Key Industry Highlights, 2018 and 2032
2. Chile Wind Energy Market: Key Industry Highlights, 2018 and 2032
3. Chile Wind Energy Historical Market: Breakup by Location (Giga Watt), 2018-2023
4. Chile Wind Energy Market Forecast: Breakup by Location (Giga Watt), 2024-2032
5. Chile Wind Energy Historical Market: Breakup by Application (Giga Watt), 2018-2023
6. Chile Wind Energy Market Forecast: Breakup by Application (Giga Watt), 2024-2032
7. Chile Wind Energy Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate volume of 4.58 giga watt.
The market is estimated to grow at a CAGR of 3.84% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around 6.26 giga watt by 2032.
The surge in energy consumption resulting from rapid urbanisation and the country’s dedication to meeting its electricity needs through renewable sources are the key factors driving the market.
The key trends aiding the market expansion include a rise in environmental concerns, increasing demand for renewable and clean energy, and technological improvements.
The different locations considered in the market report are onshore and offshore.
The major applications of wind energy are utility and non-utility.
The major players in the market are Siemens Energy, Acciona, SA, EDF Group, Statkraft AS, Mainstream Renewable Power Limited, Enel S.p.A., and Grupo Ibereólica Renovables, among others.
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