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Mexico Renewable Energy Market Size, Growth, Analysis: By Type: Solar, Wind, Hydro, Geothermal, Others; 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
Mexico Renewable Energy Market Outlook
The Mexico renewable energy market size is projected to grow at a CAGR of 8.5% between 2024 and 2032. The market is being aided by the abundance of natural resources in the country and the rising trend of nearshoring.
Key Takeaways:
- Renewable energy sources account for 31% of the total power generated in Mexico.
- To capitalise upon the opportunities presented by business nearshoring, Mexico’s transition towards clean energy is essential.
- Wind energy and solar power account for 10% of the total electricity generated in Mexico.
Mexico has the potential to become the clean energy powerhouse of North America and establish 24,918 GW of solar farms and 3,669 GW of wind farms. With an anticipated increase in private sector investments, the country can achieve 2.5 GW of energy from geothermal sources and 1.2 GW from hydropower sources. This can not only result in substantial savings on electricity bills for consumers, but it can also boost the nation’s economic growth by prompting American and European businesses to shift their place of operations. This is expected to drive the Mexico renewable energy market expansion in the forecast period.
Winter storms in Mexico have eroded 500 metres of coastal land since 2005, signalling the urgent need for reducing Mexico’s reliance on fossil fuels and shifting towards more sustainable sources of energy. The sea level in the Gulf of Mexico is rising three times faster than the global average, and this has endangered the lives of various coastal communities in the region.
As per the Mayors Migration Council of Mexico, up to 8 million Mexicans are expected to get displaced because of climate change-induced landslides, floods, and other natural disasters. This is expected to accelerate the efforts of the Mexican government towards ensuring a swift transition to clean energy, which can directly impact the Mexico renewable energy market growth.
Market Segmentation
Mexico Renewable Energy Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Solar
- Wind
- Hydro
- Geothermal
- Others
The key Mexico renewable energy market players are Enel Spa, Siemens AG, RWE Aktiengesellschaft, ENGIE SA, Iberdrola, SA, Canadian Solar Inc., Dominion Energy, Inc., ACCIONA SA, and Electricité de France S.A., among 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:
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| Breakup by Type |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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 Renewable Energy Market Overview
8.1 Key Industry Highlights
8.2 Latin America Renewable Energy Historical Market (2018-2023)
8.3 Latin America Renewable Energy Market Forecast (2024-2032)
8.4 Latin America Renewable Energy Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Others
9 Mexico Renewable Energy Market Overview
9.1 Key Industry Highlights
9.2 Mexico Renewable Energy Historical Market (2018-2023)
9.3 Mexico Renewable Energy Market Forecast (2024-2032)
10 Mexico Renewable Energy Market by Type
10.1 Solar
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Wind
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Hydro
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Geothermal
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyers Powers
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Enel Spa
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Siemens AG
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 RWE Aktiengesellschaft
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 ENGIE SA
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Iberdrola, SA
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Canadian Solar Inc.
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Dominion Energy, Inc.
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 ACCIONA SA
12.2.8.1 Company Overview
12.2.8.2 Product Portfolio
12.2.8.3 Demographic Reach and Achievements
12.2.8.4 Certifications
12.2.9 Électricité de France S.A.
12.2.9.1 Company Overview
12.2.9.2 Product Portfolio
12.2.9.3 Demographic Reach and Achievements
12.2.9.4 Certifications
12.2.10 Others
13 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Renewable Energy Market: Key Industry Highlights, 2018 and 2032
2. Mexico Renewable Energy Market: Key Industry Highlights, 2018 and 2032
3. Mexico Renewable Energy Historical Market: Breakup by Type (USD Million), 2018-2023
4. Mexico Renewable Energy Market Forecast: Breakup by Type (USD Million), 2024-2032
5. Mexico Renewable Energy Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 8.5% between 2024 and 2032.
The different types of renewable energy considered in the market report are solar, wind, hydro, and geothermal, among others.
The key market players are Enel Spa, Siemens AG, RWE Aktiengesellschaft, ENGIE SA, Iberdrola, SA, Canadian Solar Inc., Dominion Energy, Inc., ACCIONA SA, and Electricité de France S.A., among others.
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