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South America Thermal Power Market Size (2024 - 2029)

The South America thermal power market is projected to experience growth driven by factors such as increasing population and power consumption, which are contributing to the expansion of the market size. The development of new thermal power projects is expected to further enhance market dimensions, despite challenges posed by the phasing out of oil and coal-based plants and competition from renewable energy sources. Natural gas, with its significant share in electricity generation, is anticipated to maintain its leading position due to its advantages over other thermal energy sources. Brazil is expected to play a dominant role in the market, supported by future projects and high energy demand.

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Market Size of South America Thermal Power Industry

South America Thermal Power-Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 1.00 %

Major Players

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*Disclaimer: Major Players sorted in no particular order

South America Thermal Power Market Analysis

The South America thermal power market is expected to grow at a CAGR of more than 1% during the forecast period of 2020-2025. Factors such as increasing population and power consumption are resulting in the growth of the thermal power market. With growing power demand, upcoming thermal power projects are expected to further drive the market significantly. On the other hand, the phasing out of oil and coal-based power plants in few countries in the region and increasing competition from renewable energy sources are expected to restrain the market growth of thermal power during the forecast period.

  • With the largest share in electricity generation, natural gas is leading the market. Due to the advantages of natural gas over other thermal energy sources, the source is expected to continue its dominance during the forecast period
  • According to IRENA, total primary energy supply is expected to reach 46 EJ by 2050 from 27 EJ in 2017. The anticipated increase in energy supply is likely to create ample opportunities for thermal energy in the future.
  • Brazil is anticipated to dominate the market in the upcoming period. With future projects and with the highest energy demand in the region, the nation is driving the market.

South America Thermal Power Industry Segmentation

The South America thermal power market report includes:

Source
Oil
Natural Gas
Coal
Nuclear
Geogrpahy
Brazil
Argentina
Rest of South America
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South America Thermal Power Market Size Summary

The South America thermal power market is poised for growth, driven by increasing population and power consumption, which are fueling demand for thermal energy. The market is expected to see significant expansion due to upcoming thermal power projects, despite challenges such as the phasing out of oil and coal-based power plants in some countries and rising competition from renewable energy sources. Natural gas is the dominant force in the market, benefiting from its advantages over other thermal energy sources, and is expected to maintain its leading position. Brazil is anticipated to be a key player in the market, with its high energy demand and future projects propelling its dominance.

The market landscape is moderately fragmented, with major companies like Colbún S.A, Pampa Energía SA, AES Corporation, Enel S.p.A, and Centrais Eletricas Brasileiras SA playing significant roles. Despite the competition from renewables, the natural gas segment is expected to thrive due to increased production and the development of regasification infrastructure. Brazil's substantial share in electricity generation and its ongoing projects are set to reinforce its leadership in the region. The market's growth is further supported by strategic initiatives, such as Siemens AG's expansion of the Entre Rios combined-cycle plant in Bolivia and Wartsila Group's project in the Northern Andes, highlighting the region's commitment to enhancing its thermal power capacity.

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South America Thermal Power Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Installed Capacity and Forecast in MW, till 2025

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Source

      1. 2.1.1 Oil

      2. 2.1.2 Natural Gas

      3. 2.1.3 Coal

      4. 2.1.4 Nuclear

    2. 2.2 Geogrpahy

      1. 2.2.1 Brazil

      2. 2.2.2 Argentina

      3. 2.2.3 Rest of South America

South America Thermal Power Market Size FAQs

The South America Thermal Power Market is projected to register a CAGR of greater than 1% during the forecast period (2024-2029)

Centrais Eletricas Brasileiras SA , AES Corporation , Pampa Energía SA , Enel S.p.A and Colbún S.A are the major companies operating in the South America Thermal Power Market.

South America Thermal Power Market Report Snapshots

South America Thermal Power Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)