Mexico Microgrid Market Size & Outlook, 2023-2030
Mexico microgrid market, 2018-2030 (US$M)
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Mexico microgrid market highlights
- The Mexico microgrid market generated a revenue of USD 2,941.5 million in 2023 and is expected to reach USD 9,944.9 million by 2030.
- The Mexico market is expected to grow at a CAGR of 19% 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 2,941.5 million |
| Market revenue in 2030 | USD 9,944.9 million |
| Growth rate | 19% (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, Mexico accounted for 3.8% 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 North America, U.S. microgrid market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 9,944.9 million by 2030.
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Microgrid Market Scope
Microgrid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Mexico 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 36.48% in 2023. Horizon Databook has segmented the Mexico microgrid market based on chp, natural gas, solar pv, diesel, fuel cell covering the revenue growth of each sub-segment from 2018 to 2030.
Microgrid market in Mexico is projected to grow at a significant rate over the forecast period owing to the flourishing construction industry in the country. The growth of this industry in Mexico can be attributed to the increasing population and ongoing urbanization in the country. The growing population in Mexico is creating a high demand for residential and commercial spaces.
The rising demand for affordable housing units in the country is anticipated to fuel construction activities in Mexico. For instance, according to Mexican government, approximately 14,000 new homes were constructed in the country in 2022. Mexico still faces a demand for more than 60,000 new homes. This is anticipated to increase residential construction activities in the country in the coming years, thereby fueling the demand for power. It is expected to increase the use of microgrids in Mexico during the forecast period.
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Our clientele includes a mix of microgrid market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico microgrid market , including forecasts for subscribers. This country databook contains high-level insights into Mexico microgrid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico microgrid market size, by power source, 2018-2030 (US$M)
Mexico Microgrid Market Outlook Share, 2023 & 2030 (US$M)
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