The Argentina power market size is expected to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to increasing energy consumption, rapid industrialization, growing demand for electricity, and developed electricity transmission infrastructure.
Most of the electricity of Argentina comes from thermal power, natural gas, and hydropower. The total production of electricity in Argentina is 132 billion kWh, which is 109% of countries own consumptions. Argentina is selling energy to other countries. The Argentina power market is the third major power market in Latin America.
The covid-19 outbreak was not able to affect the Argentina power energy corporations. The market players faced several problems varying from getting components required to develop electricity and providing end products to attracting workers from quarantines. However, the power trade is returning to traditional and witnessing the steady increasing energy demand, particularly from the commercial sectors.
Market Trends, Drivers, Restraints, and Opportunities
• Increasing consumer purchasing capacity and continually growing population is projected to boost the market in the coming years.
• Rapid development in industrial and residential sector is the major factor fuelling the market.
• Development of renewable energy is not a priority of the Argentina government this is anticipated to hamper the market growth.
• Increasing economic crisis in the region is projected to hamper the market in the coming years.
• R&D investment and technological advancement in power sector is projected to create lucrative opportunities for the market players.
Market Segment Insights
The industrial segment accounts for key share of the market
Based on end-users, the Argentina power market is segregated into industrial, residential, commercial, and others. The industrial segment is estimated to expand at a rapid pace during the forecast period. Growth of the market is attributed to the increase in energy consumption, growing demand for electricity, and rapid industrialization. The residential segment is anticipated to expand at a substantial CAGR during the forecast period due to factors such as rapid urbanization, government policies, and increasing population.
The thermal power segment is anticipated to hold a major market share
Based on power sectors, the Argentina power market is fragmented into generation transmission and distribution (T&D). The generation segment is further sub-segmented into hydropower, non-hydroelectric renewables, thermal, and nuclear. The thermal power segment is anticipated to dominate the market. Growth of the market is attributed to increasing population and rising disposable income.
Key players competing in the Argentina power market includes 360 Energy Limited, Empresa Mendocina De Energias A.P.E.M, Genneia SA, Edenor SA, YPF Luz, Pampa Energia SA, Enel SA, AES Argentina Generacion SA, Empresa Distribuidora de Electricidad del Sur, S.A., and Energia San Juan
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