The Latin America renewable energy market is supported by the global renewable energy market growth, which reached an installed capacity of nearly 2455 gigawatts in 2019. The industry in Latin America is expected to grow at a CAGR of 4.13% in the forecast period of 2020-2025.
The Latin America renewable energy industry is expected to be driven by the steady growth in hydro and biomass across the region. Hydropower is the leading sector in the region, accounting for nearly 81% of the market. The region receives high solar radiation and the project cost of solar is also lower as compared to the other areas owing to the locally available solar technologies, making it a highly attractive investment. Chile, especially, is expected to exhibit accelerated growth in solar capacity addition in the region. Countries such as Brazil, Argentina, Chile, Uruguay, and Peru are investing in the wind capacity to diversify their alternative power portfolio.
The rising awareness among consumers with respect to the environmental issues caused by the use of conventional power sources such as coal, fossil fuel, etc., has led to an increasing preference for alternative power projects by many countries. In 2017, the global renewable energy industry witnessed an investment of about USD 280 billion. Hydro, solar, and wind power are the leading sources for alternative and sustainable power generation globally.
Properties and Applications
Renewable energy is generated from sources that are naturally replenishable, meaning they do not deplete in a human’s lifetime. Renewable energy such as wind, biomass, solar, and hydropower, among others, are few of the common examples. They do not harm the environment like non-renewable sources or conventional sources such as fossil fuels. The energy derived from such alternative power sources is used in the generation of electricity, transport, air, and water cooling or heating, and other services.
On the basis of types, the industry can be divided into:
The EMR report also covers the regional markets in Latin America, like Brazil, Argentina, and Mexico, among others.
The Latin America renewable energy market is driven by the high investment in the small bioenergy capacities connected to the grid. The abundant availability of raw materials such as woods and bio-wastes in the region is enhancing the bioenergy in the region, bolstering the market growth in Latin America. The alternative power sources in the region are significantly affected by hydro and biomass, among other sources. Few countries such as Chile and Brazil are witnessing rising solar and wind investments. Hydro power is the key source of energy generation in most countries in Latin America, which is augmenting the industry growth.
Latin America exhibits excellent potential for hydropower. In 2018, the total installed capacity of hydropower was 170.82 gigawatts. Although the effect of solar and wind power is less, it is expected to have strong growth in the public and private investment. In Brazil, hydroelectric power will remain a substantial contributor to the overall electricity production of Brazil, and it is expected to receive continued healthy investments. Wind power is expected to go through the largest relative growth, multiplying by more than ten times in the ten-year period. Electricity generation through biomass is majorly being driven by the sugarcane and pulp processing industries, further strengthening the industry growth in Latin America. In Brazil, the solar potential is high, which is untapped yet due to a lack of government support.
Argentina is expected to achieve a 20% demand for national energy from renewable sources by 2025. The country is inviting the best energy companies in its auction 2 gigawatts of renewable power projects. The country is expected to develop policies and award contracts with the help of the RenovAr program to help provide widespread alternative power projects in solar, wind, and biomass. In 2017, the Argentina government announced it the ‘renewable energy year.’ The electricity consumption of the country is increasing due to the rising use of the residential and commercial sectors, catalysing the industry in Argentina.
The report gives a detailed analysis of the following key players in the Latin America renewable energy market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report covers the micro and macro aspects of the industry. The report provides an in-depth assessment of the industry based on Porter’s Five Forces model, along with giving a SWOT analysis.
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.5 Market Models
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Market Revenue and Growth
5 Market Dynamics
5.1 Market Driver Analysis
5.2 Market Restraint Analysis
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global Renewable Energy System Market Analysis
6.1 Figure: Global Renewable Energy Historical Market (2015-2019) & Forecast (2020-2025)
6.2 Chart: Market Breakup by Region
6.2.1 North America
6.2.3 Asia Pacific
6.2.4 Latin America
6.2.5 Middle East and Africa
7 Latin America Renewable Energy Market Analysis
7.1 Figure: Latin America Renewable Energy Historical Market (2015-2019) & Forecast (2020-2025)
7.2 Chart: Market Breakup by Type
7.2.2 Bio Energy
7.3 Chart: Market Breakup by Country
7.4 Brazil Renewable Energy Market Analysis
7.4.1 Figure: Brazil Renewable Energy Historical Market (2015-2019) & Forecast (2020-2025)
7.4.2 Chart: Market Breakup by Type
18.104.22.168 Bio Energy
7.4.3 Chart: Electricity Generation by Fuel Source
7.5 Argentina Renewable Energy Market Analysis
7.5.1 Figure: Argentina Renewable Energy Historical Market (2015-2019) & Forecast (2020-2025)
7.5.2 Chart: Market Breakup by Type
22.214.171.124 Bio Energy
7.5.3 Chart: Electricity Generation by Fuel Source
7.6 Mexico Renewable Energy Market Analysis
7.6.1 Figure: Mexico Renewable Energy Historical Market (2015-2019) & Forecast (2020-2025)
7.6.2 Chart: Market Breakup by Type
126.96.36.199 Bio Energy
7.6.3 Chart: Electricity Generation by Fuel Source
188.8.131.52 Natural Gas
8 SWOT Analysis
9 Value Chain Analysis
10 Porter’s Five Forces Analysis
10.2 Buyer’s Power
10.3 Supplier’s Power
10.4 New Entrants
10.5 Degree of Rivalry
11 Latin America Renewable Energy Tariff Rates
12 EMR’s Key Indicators for Demand
13 EMR’s Key Indicators for Price
14 Competitive Landscape & Supplier Analysis
14.1 Ingenostrum S.L.
14.1.1 Company Overview
14.1.2 Financial Analysis
14.2 Enel Green Power S.p.A
14.2.1 Company Overview
14.2.2 Financial Analysis
14.3 Gauss Energy
14.3.1 Company Overview
14.3.2 Financial Analysis
14.4 First Solar, Inc.
14.4.1 Company Overview
14.4.2 Financial Analysis
14.5 Atlas Renewable Energy
14.5.1 Company Overview
14.5.2 Financial Analysis
15 Events and Developments
The Latin America renewable energy market is driving the growth of the global market. The global renewable energy industry attained an installed capacity of 2455 gigawatts in 2019. The industry in Latin America is expected to witness a further growth in the forecast period of 2020-2025, growing at a CAGR of 4.13%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on types, the industry can be segmented into hydropower, bioenergy, and bagasse, among others, with hydropower leading the market. The major regional markets in the industry are Brazil, Argentina, and Mexico, among others. The key players in the above industry include Ingenostrum S.L., Enel Green Power S.p.A, Gauss Energy, First Solar, Inc., and Atlas Renewable Energy, among others.
The major drivers of the industry such as rising disposable incomes, growing consciousness among consumers about environmental pollution, growing adoption of alternative power sources, abundance of raw materials, and favourable government policies are driving the growth of the market globally. EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with industry insights that are accurate, actionable, and help them remain ahead of their competition.
EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected industry conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:
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