Market Size of Portugal Power Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | High |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Portugal Power Market Analysis
The Portugal power market is expected to register a CAGR of more than 3% in the forecast period.
The market was negatively impacted by the outbreak of COVID-19 due to regional lockdowns and delays in ongoing and upcoming projects. Currently, the market has rebounded to pre-pandemic levels.
- Factors such as increasing investments in renewable energy are likely to drive the market. The degree of urbanization and electrification is also expected to drive power consumption.
- On the other hand, the dependency on renewable weather conditions such as the sun for solar energy and the wind for wind energy is expected to restrain Portugal's power energy market.
- Portugal's government has set a target of decreasing greenhouse gas emissions by 89% to 99% by 2050, compared to 2005. This is likely to create several opportunities for Portugal's power market in the future.
