Market Size of Portugal Wind Energy Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 6.21 gigawatt |
| Market Volume (2029) | 10.22 gigawatt |
| CAGR (2024 - 2029) | 10.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Portugal Wind Energy Market Analysis
The Portugal Wind Energy Market size is estimated at 6.21 gigawatt in 2024, and is expected to reach 10.22 gigawatt by 2029, growing at a CAGR of 10.5% during the forecast period (2024-2029).
- Over the medium term factors such as the declining cost of wind power generation, increasing sensitivity toward environmental issues, and support from the government through financial incentives are likely to drive the market for wind energy during the forecast period.
- On the other hand, the substitution of solar energy and gas-fired power plants is expected to continue to restrain the market. The solar energy industry achieved a significantly higher cost reduction than the wind energy sector.
- Nevertheless, the integration of wind energy with energy storage systems to overcome the intermittent nature of wind energy is expected to create enormous opportunity for the market during the forecasted period,
