Market Size of Peru Wind Energy Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 11.60 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Peru Wind Energy Market Analysis
The Peru Wind Energy Market is expected to grow at a CAGR of more than 11.6% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the long term, factors such as increasing demand for renewable energy, rising investments in wind farms, and declining cost of wind power generation and associated equipment are driving the wind energy market.
- On the other note, the increasing adoption of alternate clean power sources such as solar, hydropower, and bio-energy are likely to hinder the growth of the wind energy market in the coming years.
- Nevertheless, the Peruvian government's mission is to shift from an energy mix based essentially on hydrocarbons. Peru has plans to have 15% of renewables in its energy mix by 2030, which diversifies the energy mix to ensure a reliable and timely supply of energy demand to guarantee the country's sustainable growth and also to promote investments in the energy sector, which in turn, is likely to provide an opportunity to a growth in the deployment of wind energy in coming future.
