Latin America Microgrid Market Size & Outlook, 2023-2030
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Latin America microgrid market highlights
- The Latin America microgrid market generated a revenue of USD 6,504.0 million in 2023.
- The market is expected to grow at a CAGR of 16.5% from 2024 to 2030.
- In terms of segment, chp was the largest revenue generating power source in 2023.
- CHP is the most lucrative power source segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 6,504.0 million |
| Market revenue in 2030 | USD 18,979.5 million |
| Growth rate | 16.5% (CAGR from 2023 to 2030) |
| Largest segment | Chp |
| Fastest growing segment | CHP |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | CHP, Natural Gas, Solar PV, Diesel, Fuel Cell |
| Key market players worldwide | ABB Ltd, Siemens AG, GE Aerospace, Eaton Corp PLC, Exelon Corp, Honeywell International Inc, NRG Energy Inc, Spirit AeroSystems Holdings Inc Class A, Northland Power Inc, Viridien |
Other key industry trends
- In terms of revenue, Latin America region accounted for 8.5% of the global microgrid market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 54,605.5 million by 2030.
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Microgrid Market Scope
Microgrid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Viridien | View profile | 3515 | 27 avenue Carnot, Massy, France, 91300 | https://www.cgg.com |
| Northland Power Inc | View profile | 1344 | 30 Street Clair Avenue West, 17th Floor, Toronto, ON, Canada, M4V 3A1 | https://www.northlandpower.com |
| Exelon Corp | View profile | 19962 | 10 South Dearborn Street, 54th Floor, P.O. Box 805379, Chicago, IL, United States, 60680-5379 | https://www.exeloncorp.com |
| NRG Energy Inc | View profile | 18131 | 910 Louisiana Street, Houston, TX, United States, 77002 | https://www.nrg.com |
| Spirit AeroSystems Holdings Inc Class A | View profile | 20655 | 3801 South Oliver Street, Wichita, KS, United States, 67210 | https://www.spiritaero.com |
| Eaton Corp PLC | View profile | 94000 | 30 Pembroke Road, Eaton House, Dublin, Ireland, D04 Y0C2 | https://www.eaton.com |
| Honeywell International Inc | View profile | 95000 | 855 South Mint Street, Charlotte, NC, United States, 28202 | https://www.honeywell.com |
| GE Aerospace | View profile | 125000 | One Financial Center, Suite 3700, Boston, MA, United States, 02111 | https://www.geaerospace.com |
| Siemens AG | View profile | 321000 | Werner-von-Siemens-Strabe 1, Munich, BY, Germany, 80333 | https://www.siemens.com |
| ABB Ltd | View profile | 108700 | Affolternstrasse 44, Zurich, Switzerland, 8050 | https://www.abb.com |
Latin America microgrid market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to microgrid market will help companies and investors design strategic landscapes.
Chp was the largest segment with a revenue share of 35.94% in 2023. Horizon Databook has segmented the Latin America microgrid market based on chp, natural gas, solar pv, diesel, fuel cell covering the revenue growth of each sub-segment from 2018 to 2030.
Central & South America is witnessing increased installation of renewable energy sources, such as wind mills and solar panels on account of countries shifting toward reducing carbon emission and cost. For instance, Brazil is focusing on reducing dependence on hydropower and is likely to develop renewable power generation sources over the coming years.
Apart from hydropower, Central & South America has the potential for wind, biomass, and solar energy, which is expected to generate the need for microgrids to cater to the electricity demand of various urban and rural areas.
These factors are expected to trigger the construction of residential and commercial units in Central & South America, thereby fueling the demand for microgrid. The governments are also boosting the retail construction segment with more reforms and schemes to increase construction in residential and commercial sectors.
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Our clientele includes a mix of microgrid market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America microgrid market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America microgrid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America microgrid market size, by country, 2018-2030 (US$M)
Latin America Microgrid Market Outlook Share, 2023 & 2030 (US$M)
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