Market Size of South America Offshore Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
South America Offshore Energy Market Analysis
The South American offshore energy market is expected to register a CAGR of more than 4% during the forecast period. During Covid-19, South America's economy was affected negatively. South America was under a strict lockdown, drastically impacting the offshore energy market. During Covid-19, oil & gas and power were the most affected industry in the region due to lower demand for oil and gas coupled with delays in offshore projects due to lack of funding. Factors such as the significant rise in investment and development of offshore oil & gas fields in the region are expected to drive the South America offshore energy market in the forecast period. However, the higher initial investment required in the offshore establishment is expected to restrain the growth of the offshore energy market.
- The oil and gas segment is expected to dominate the South American offshore energy market during the forecast period.
- Developing offshore wind energy projects in the region is likely to provide a significant growth opportunity for the offshore energy market during the forecast period.
- Brazil has dominated the offshore energy market. The Increased investment in offshore oil & gas activity is expected to drive centrifugal pumps in the country during the forecast period.
