Market Size of Mexico Renewable Energy Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 10.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico Renewable Energy Market Analysis
The Mexican renewable energy market is expected to register a CAGR of 10% during the forecast period.
The COVID-19 pandemic did not have a major impact on the market studied, and it rebounded to pre-pandemic levels. Upcoming renewable energy projects, increasing foreign investment and government policies, and ambitious renewable energy targets are expected to drive the growth of the market studied during the forecast period. However, increasing penetration of natural gas for power generation is expected to hamper the growth of the Mexican renewable energy market during the forecast period.
Nevertheless, Mexico pledged to deploy 30 gigawatts in renewable energy capacity by 2030, which is expected to create lucrative growth opportunities for the Mexican renewable energy market during the forecast period.
