Argentina Microgrid Market Size & Outlook, 2023-2030
Argentina microgrid market, 2018-2030 (US$M)
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Argentina microgrid market highlights
- The Argentina microgrid market generated a revenue of USD 1,419.1 million in 2023 and is expected to reach USD 4,168.0 million by 2030.
- The Argentina market is expected to grow at a CAGR of 16.6% 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.
Microgrid market data book summary
| Market revenue in 2023 | USD 1,419.1 million |
| Market revenue in 2030 | USD 4,168.0 million |
| Growth rate | 16.6% (CAGR from 2023 to 2030) |
| Largest segment | Chp |
| Fastest growing segment | CHP |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Argentina accounted for 1.8% of the global microgrid market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil microgrid market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 9,371.9 million by 2030.
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Microgrid Market Scope
Microgrid Market Companies
| Name | Profile | # Employees | HQ | Website |
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Argentina 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 34.96% in 2023. Horizon Databook has segmented the Argentina microgrid market based on chp, natural gas, solar pv, diesel, fuel cell covering the revenue growth of each sub-segment from 2018 to 2030.
The microgrid market in Argentina is expected to witness growth on account of installation of various renewable energy sources. The government has set a target to increase power generation from renewable resources to cover 20% of its energy demand by 2025.
The government’s inclination toward increasing the consumption of renewable sources for power generation is fueling the installation of wind mills and solar panels. This is expected to propel the use of microgrids to manage the generated electricity in the country. The construction industry is also witnessing significant growth owing to the execution of major construction projects.
According to Trading Economics, the contribution of this industry to the GDP in the third quarter of 2022 was USD 13.21 billion. Thus, the flourishing construction industry is anticipated to fuel the construction of many residential, commercial, and infrastructure spaces, which will create more demand for electricity.
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Horizon Databook provides a detailed overview of country-level data and insights on the Argentina microgrid market , including forecasts for subscribers. This country databook contains high-level insights into Argentina microgrid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Argentina microgrid market size, by power source, 2018-2030 (US$M)
Argentina Microgrid Market Outlook Share, 2023 & 2030 (US$M)
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