Market Size of Mexico Power Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 91.90 gigawatt |
| Market Volume (2029) | 108.70 gigawatt |
| CAGR (2024 - 2029) | > 3.40 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico Power Market Analysis
The Mexico Power Market size in terms of installed base is expected to grow from 91.90 gigawatt in 2024 to 108.70 gigawatt by 2029, at a CAGR of greater than 3.40% during the forecast period (2024-2029).
- Over the medium period, the market is substantially driven by factors like high power demand due to the growing population and upcoming power generation projects, mainly to go parallel with the pace of urbanization in the country.
- On the other hand, the new government's intentions to reduce private investments and make the sector more state-owned can pose a significant threat to market growth.
- Nevertheless, Mexico's General Climate Change Law has set a target of generating 35% of total electricity from renewable sources by 2024. Such a target would create an opportunity for power-renewable companies to set up various projects to meet the target for the country during the upcoming years.
