Market Size of South America Renewable Energy Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 7.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Renewable Energy Market Analysis
The South American market for renewable energy is expected to register a CAGR of more than 8% from 2022 to 2027.
The market was negatively impacted by COVID-19 in 2020. Currently. The market has reached pre-pandemic levels.
- Long-term, things like government policies and efforts to meet the growing need for power with renewable energy sources are expected to contribute a lot to the growth of the market.
- On the other hand, the South American renewable energy market is expected to slow down during the forecast period due to a lack of transmission infrastructure that can send and distribute renewable energy.
- Even so, putting the region's large offshore wind potential to commercial use and developing it are still big opportunities for the market after the forecast period.
