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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 more than 2,771.91 gigawatts in 2023. The market in Latin America is expected to grow at a CAGR of 4.1% in the forecast period of 2024-2032.
The Latin America renewable energy market 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 market witnessed an investment of about USD 280 billion. Hydro, solar, and wind power are the leading sources for alternative and sustainable power generation globally.
Latin America Renewable Energy Market Size
Latin America Renewable Energy Market Growth
Latin America Renewable Energy Market Analysis
Latin America Renewable Energy Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
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 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 Snapshot
6.1 Latin America
7 Opportunities and Challenges in the Market
8 Global Renewable Energy Market Analysis
8.1 Key Industry Highlights
8.2 Global Renewable Energy Historical Market (2018-2023)
8.3 Global Renewable Energy Market Forecast (2024-2032)
8.4 Global Renewable Energy Market by Region
8.4.1 North America
8.4.2 Europe
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 (2018-2023)
9.3 Latin America Renewable Energy Market Forecast (2024-2032)
9.4 Latin America Renewable Energy Market by Type
9.4.1 Hydropower
9.4.1.1 Historical Trend (2018-2023)
9.4.1.2 Forecast Trend (2024-2032)
9.4.2 Onshore Wind
9.4.2.1 Historical Trend (2018-2023)
9.4.2.2 Forecast Trend (2024-2032)
9.4.3 Solar
9.4.3.1 Historical Trend (2018-2023)
9.4.3.2 Forecast Trend (2024-2032)
9.4.4 Bio Energy
9.4.4.1 Historical Trend (2018-2023)
9.4.4.2 Forecast Trend (2024-2032)
9.4.5 Others
9.5 Latin America Renewable Energy Market by Country
9.5.1 Brazil
9.5.2 Argentina
9.5.3 Mexico
9.5.4 Others
10 Regional Analysis
10.1 Brazil
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Market Breakup by Type
10.1.4 Electricity Generation by Fuel Source
10.2 Argentina
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.2.3 Market Breakup by Type
10.2.4 Electricity Generation by Fuel Source
10.3 Mexico
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.3.3 Market Breakup by Type
10.3.4 Electricity Generation by Fuel Source
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 Buyer’s Power
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 Value Chain Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Ingenostrum S.L.
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 Enel Green Power S.p.A
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 Gauss Energy
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 First Solar, Inc.
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 Atlas Renewable Energy
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 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Renewable Energy Market: Key Industry Highlights, 2018-2028
2. Global Renewable Energy Historical Market: Breakup by Type (Gigawatts), 2018-2023
3. Global Renewable Energy Historical Market: Breakup by Country, 2018-2023
4. Latin America Renewable Energy Market: Key Industry Highlights, 2018 and 2032
5. Latin America Renewable Energy Market Forecast: Breakup by Type (Gigawatts), 2024-2032
6. Latin America Renewable Energy Historical Market: Breakup by Country (Gigawatts), 2018-2023
7. Latin America Renewable Energy Market Forecast: Breakup by Country (Gigawatts), 2024-2032
8. Brazil Renewable Energy Market: Key Industry Highlights, 2018 and 2032
9. Brazil Renewable Energy Market Forecast: Breakup by Fuel Source (Gigawatts), 2024-2032 Mexico Renewable Energy Market: Key Industry Highlights, 2018 and 2032
10. Argentina Renewable Energy Market: Key Industry Highlights, 2018 and 2032
11. Argentina Renewable Energy Market Forecast: Breakup by Fuel Source (Gigawatts), 2024-2032
12. Mexico Renewable Energy Market: Key Industry Highlights, 2018 and 2032
13. Mexico Renewable Energy Market Forecast: Breakup by Fuel Source (Gigawatts), 2024-2032
14. Latin America Renewable Energy Market Structure
In 2023, the market attained capacity of nearly 2,771.91 gigawatts in 2023.
The Latin America renewable energy market is projected to grow at a CAGR of 4.1% between 2024 and 2032.
The major drivers of the market include the increasing deployment of hydro energy, rising environmental consciousness, and increasing demand for electricity across the globe.
The rising investment in the small bioenergy capacities connected to the grid and the abundant availability of raw materials such as woods and bio-wastes are the key trends propelling the market growth.
The major countries in the Latin America market include Brazil, Argentina, and Mexico, among others.
The various types of renewable energy include hydropower, onshore wind, solar, and bio energy, among others.
The major players in the market are Ingenostrum S.L., Enel Green Power S.p.A, Gauss Energy, First Solar, Inc., and Atlas Renewable Energy, among others.
The Latin America renewable energy market is supported by the growth of the global renewable energy market, which reached an installed capacity of nearly 2,771.91 gigawatts in 2023. Aided by the increasing electricity consumption, the Latin America renewable energy market is expected to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 4.1%.
EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of types, the industry can be divided into hydropower, onshore wind, solar, and bioenergy, among others. The major regional markets for the renewable energy in Latin America are Brazil, Argentina, and Mexico, among others. The major players in the industry are Ingenostrum S.L., Enel Green Power S.p.A, Gauss Energy, First Solar, Inc., and Atlas Renewable Energy, among others.
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 market insights that are accurate, actionable and help them remain ahead of their competition.
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