The Argentina renewable energy market size is projected to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to rising demand for energy in the country.
Renewable energy is procured from natural sources. Geothermal, solar, wind, bioenergy, tidal, and hydropower are some of crucial sources of renewable energy. This energy can be used for generation of electricity, cooling, heating, and automotive sector. The concern regarding the depletion of fossil fuel, increasing pursue for energy security, aversion from traditional nuclear power, and lack of progression in the usage of the nuclear power are driving the market growth.
Most renewable energy farms and plants can be set up once and generate energy efficiently for decades. Different forms of renewable energy can be derived indirectly and indirectly from various natural sources.. It is an inexhaustible source of energy. Ongoing technological advancements is decreasing the cost of systems used for the development of energy from natural sources. Usable energy can be generated in the form of industrial heat, thermal energy for water conditioning and space, electricity, and transportation fuel. Renewable sources generally produces clean energy and does not emit pollutants such as carbon dioxide and greenhouse gases.
The COVID-19 pandemic impacted the supply of raw materials that heavily disrupted the supply chain activities across the globe. Moreover, the government’s stringent regulations on the closedown of manufacturing facilities hampered the market growth However, the relaxation in restrictions owing to acceleration in vaccination drive is stimulating the growth of the renewable energy market in Argentina.
Markets Trends, Drivers, Restraints and Opportunity
- Growing industrialization and commercialization is estimated to positively influence the market growth during the forecast period.
- Increasing demand for renewable energy and surge in electricity consumption is anticipated to drive the market growth.
- Rising financial and legislative initiatives are key drivers that are expected to spur the market growth.
- Growing number of government subsidies to build renewable energy plants is estimated to positively influence the market growth.
- Uncertain atmospheric conditions can create challenges for the market in the coming years.
- Rising price tendencies can restrain the market growth.
- Strict regulations and rules concerning climatic change particularly in developing and developed economies are likely to create lucrative opportunities for the market during the forecast period.
Scope of the Report
The report on the Argentina renewable energy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
Argentina Renewable Energy Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2020
|
|
Historic Data
|
2018–2019
|
|
Forecast Period
|
2021–2028
|
|
Segmentation
|
Hydro, Wind, Solar and Others
|
|
Geographical Zone
|
Argentina
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
360 Energy SA; Genneia SA; Enel Green Power S.p.A.; YPF Luz; and Pampa Energia SA
|
Argentina Renewable Energy Market Segment Insights
Hydro segment is projected to hold a significant market share
Based on sources, the market is divided into hydro, wind, solar, and others. The hydro segment is estimated to account for a significant market share during the forecast period owing to increasing number of hydro projects. The exhaustive source of water is further driving the segment growth. On the other hand, the solar segment is expected to grow at a rapid pace during the forecast period. The presence of government subsidies and declining cost of solar technologies are key factors driving the growth of the market segment.
Segments
Sources
Country
Key players
Competitive Landscape
Key players competing in the Argentina renewable energy market are 360 Energy SA; Genneia SA; Enel Green Power S.p.A.; YPF Luz; and Pampa Energia SA.
Companies are focusing on partnering with local manufacturers and collaborating with other industry players to expand their market share. Moreover, they’re working closely with government state bodies to build renewable energy projects.
In July 2019, Pampa Energia SA declared the construction of its fourth wind farm in the providence of Buenos Aries, with a capacity of roughly 52MW.
In September 2021 Enel Green Power instigates "Scelta Rinnovabile" (Renewable Choice), an online horde financing initiative, which permits all citizens to take part in the investment to build fresh renewable plants in Italy. This initiative is expected to help the country to move toward the use of renewable energy sources.
In March, 2021, Genneia SA announced that its 57.66 MW Chubut Norte III wind farm at house reached mercantile operation.
Request For Customization
Enquiry Before Buying
Speak With Analyst
