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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 2020. The industry in Latin America is expected to grow at a CAGR of 4.13% in the forecast period of 2021-2026.
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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.
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.
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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.
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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 2026. 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.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Country|
|Breakup by Type||Hydropower, Bio Energy, Bagasse, Others|
|Breakup by Country||Brazil, Argentina, Mexico, Others|
|Market Dynamics||SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||Ingenostrum S.L., Enel Green Power S.p.A, Gauss Energy, First Solar, Inc., Atlas Renewable Energy, Others|
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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 Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6.1 Latin America
7 Industry Opportunities and Challenges
8 Global Renewable Energy Market Analysis
8.1 Key Industry Highlights
8.2 Global Renewable Energy Historical Market (2016-2020)
8.3 Global Renewable Energy Market Forecast (2021-2026)
8.4 Global Renewable Energy Market by Type
8.4.1 North America
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Latin America Renewable Energy Market Analysis
9.1 Key Industry Highlights
9.2 Latin America Renewable Energy Historical Market (2016-2020)
9.3 Latin America Renewable Energy Market Forecast (2021-2026)
9.4 Latin America Renewable Energy Market by Type
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2016-2020)
22.214.171.124 Forecast Trend (2021-2026)
9.4.2 Onshore Wind
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2016-2020)
184.108.40.206 Forecast Trend (2021-2026)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2016-2020)
22.214.171.124 Forecast Trend (2021-2026)
9.4.4 Bio Energy
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2016-2020)
184.108.40.206 Forecast Trend (2021-2026)
9.5 Latin America Renewable Energy Market by Country
10 Regional Analysis
10.1.1 Historical Trend (2016-2020)
10.1.2 Forecast Trend (2021-2026)
10.1.3 Market Breakup by Type
10.1.4 Electricity Generation by Fuel Source
10.2.1 Historical Trend (2016-2020)
10.2.2 Forecast Trend (2021-2026)
10.2.3 Market Breakup by Type
10.2.4 Electricity Generation by Fuel Source
10.3.1 Historical Trend (2016-2020)
10.3.2 Forecast Trend (2021-2026)
10.3.3 Market Breakup by Type
10.3.4 Electricity Generation by Fuel Source
11 Market Dynamics
11.1 SWOT Analysis
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyer’s Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 EMR’s Key Indicators for Demand
11.4 EMR’s Key Indicators for Price
12 Value Chain Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Ingenostrum S.L.
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
13.2.2 Enel Green Power S.p.A
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
13.2.3 Gauss Energy
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
13.2.4 First Solar, Inc.
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
13.2.5 Atlas Renewable Energy
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
14 Industry Events and Developments
List of Figures and Tables
1. Global Renewable Energy Market: Key Industry Highlights, 2016-2026
2. Global Renewable Energy Historical Market: Breakup by Type (Gigawatts), 2016-2020
3. Global Renewable Energy Historical Market: Breakup by Country, 2016-2020
4. Latin America Renewable Energy Market: Key Industry Highlights, 2016 and 2026
5. Latin America Renewable Energy Market Forecast: Breakup by Type (Gigawatts), 2021-2026
6. Latin America Renewable Energy Historical Market: Breakup by Country (Gigawatts), 2016-2020
7. Latin America Renewable Energy Market Forecast: Breakup by Country (Gigawatts), 2021-2026
8. Brazil Renewable Energy Market: Key Industry Highlights, 2016 and 2026
9. Brazil Renewable Energy Market Forecast: Breakup by Fuel Source (Gigawatts), 2021-2026 Mexico Renewable Energy Market: Key Industry Highlights, 2016 and 2026
10. Argentina Renewable Energy Market: Key Industry Highlights, 2016 and 2026
11. Argentina Renewable Energy Market Forecast: Breakup by Fuel Source (Gigawatts), 2021-2026
12. Mexico Renewable Energy Market: Key Industry Highlights, 2016 and 2026
13. Mexico Renewable Energy Market Forecast: Breakup by Fuel Source (Gigawatts), 2021-2026
14. Latin America Renewable Energy Market Structure
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 2020. The industry in Latin America is expected to witness a further growth in the forecast period of 2021-2026, 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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