Market Size of Portugal Renewable Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Portugal Renewable Energy Market Analysis
Portugal's renewable energy market is expected to grow at a CAGR of over 3% during the forecast period. Portugal's government's plan to phase out of coal energy is expected to drive the Portugal renewable energy market. However, the dependency of renewable on weather conditions such as sun for solar energy and wind for wind energy are expected to restrain the Portugal renewable energy market.
- The hydropower due to its highest energy generating capacity in the country held a significant market share, and it is likely to dominate the market.
- Portugal's government has set a target of decreasing greenhouse gas emissions by 89% to 99% by 2050, compared to 2005. This is likely to create several opportunities for Portugal's renewable energy market in the future.
- Increasing renewable energy installations and upcoming projects, such as offshore wind farm projects, are likely to drive the Portugal renewable energy market.
Portugal Renewable Energy Industry Segmentation
The Portugal renewable energy market report include
Portugal Renewable Energy Market Size Summary
The renewable energy market in Portugal is poised for growth, driven by the government's strategic initiative to phase out coal energy and significantly reduce greenhouse gas emissions by 2050. This transition is expected to create numerous opportunities within the sector. Hydropower currently holds a substantial share of the market due to its high energy generation capacity and is anticipated to continue dominating the market. The country's commitment to increasing renewable energy installations, including offshore wind farm projects, is set to further propel the market forward. However, the reliance of renewable energy sources on weather conditions, such as sunlight for solar energy and wind for wind energy, presents potential challenges to market expansion.
The market landscape in Portugal is characterized by a fragmented structure with key players such as Acciona SA, Energias de Portugal (EDP Group), Iberdrola SA, Brookfield Renewable Partners LP, and Ciel et Terre International SAS actively participating. The growth trajectory of the renewable energy sector is supported by significant projects and investments, including Iberdrola's development of new dams and power plants, as well as its entry into the solar market. These developments, alongside the increasing capacity of renewable energy generation plants, underscore the country's commitment to enhancing its renewable energy infrastructure. As a result, the Portugal renewable energy market is expected to experience a steady upward trend during the forecast period.
Portugal Renewable Energy Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Portugal Renewable Energy Installation Capacity Forecast, in Megawatts (MW), till 2025
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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Portugal Renewable Energy Market Size FAQs
What is the current Portugal Renewable Energy Market size?
The Portugal Renewable Energy Market is projected to register a CAGR of 3% during the forecast period (2024-2029)
Who are the key players in Portugal Renewable Energy Market?
Acciona SA , Energias de Portugal (EDP Group) , Iberdrola SA and Brookfield Renewable Partners LP are the major companies operating in the Portugal Renewable Energy Market.
