Latin America Microgrid Market Size & Outlook, 2023-2030

The microgrid market in Latin America is expected to reach a projected revenue of US$ 18,979.5 million by 2030. A compound annual growth rate of 16.5% is expected of Latin America microgrid market from 2024 to 2030.
Revenue, 2023 (US$M)
$6,504.0
Forecast, 2030 (US$M)
$18,979.5
CAGR, 2024 - 2030
16.5%
Report Coverage
Latin America

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 2023USD 6,504.0 million
Market revenue in 2030USD 18,979.5 million
Growth rate16.5% (CAGR from 2023 to 2030)
Largest segmentChp
Fastest growing segmentCHP
Historical data covered2018 - 2022
Base year for estimation2023
Forecast period covered2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationCHP, Natural Gas, Solar PV, Diesel, Fuel Cell
Key market players worldwideABB 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 segmentation & scope
CHP
Natural Gas
Solar PV
Diesel
Fuel Cell
Others
Remote
Grid Connected
Hybrid
Government
Education
Commercial
Utility
Defense
Others

Microgrid Market Companies

Name Profile # Employees HQ Website

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)

Latin America microgrid market size, by country, 2018-2030 (US$M)

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