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Solar Power Market in Brazil by End-user, Application, and Geography - Forecast and Analysis 2022-2026

  • Published: Jan 2022
  • Pages: 120
  • SKU: IRTNTR72182
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The predicted growth for the solar power market share in Brazil from 2021 to 2026 is 89.57 terawatt-hour units at a CAGR of 47.24%.

This solar power market forecast report extensively covers segmentations by:

  • End-user - Utility and rooftop
  • Application - Grid-connected and off-grid

The solar power market in Brazil report offers information on several market vendors, including Abengoa SA, BrightSource Energy Inc., Canadian Solar Inc., ENGIE SA, First Solar Inc., JinkoSolar Holding Co. Ltd., Scatec ASA, Tata Power Co. Ltd., Waaree Energies Ltd., and Yingli Green Energy Holding Co. Ltd. among others. Furthermore, our analysts have provided valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches for the coming years.

What will the Solar Power Market Size in Brazil be During the Forecast Period?

Solar Power Market Size

Download the Free Report Sample to Unlock the Solar Power Market Size in Brazil for the Forecast Period and Other Important Statistics

 

Solar Power Market in Brazil: Key Drivers, Trends, and Challenges

The sunny climatic conditions is notably driving the solar power market growth in Brazil, although factors such as slow growth in photovoltaic system may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the solar power industry in Brazil. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Solar Power Market Driver in Brazil

One of the key factors driving the Brazil solar power market growth is the sunny climatic conditions as it is located in a latitude zone where the incidence of solar radiation is substantially higher than the rest of the globe. Solar energy began to gain traction in 2017, with total capacity increasing to 7.8 gigawatts by 2020. Overall, Brazil's solar power sector has grown steadily in tandem with the country's economic recovery since 2017, which is driving the growth of the regional market. For instance, according to the Brazilian Ministry of Mines and Energy (MME), solar power in Brazil increased by 67% by the end of 2021. Biomass and hydropower generation, on the other hand, decreased in 2021. Such factors are expected to accelerate the growth of the Brazil solar power market in focus during the forecast period.

Key Solar Power Market Trend in Brazil

One of the key Brazil solar power market trends fueling the market growth is the increasing renewable electricity usage. With growing worries about climate change in the atmosphere due to the rising CO2 emissions, Brazil, along with a number of other countries, is focusing increasingly on renewable energy generation. For instance, Brazil generated about 45% of its power from renewable sources as of 2021. Furthermore, hydropower dominates the country. It accounted for almost 26% of total electricity output in 2020. Such factors are expected to further support the Brazil solar power market growth during the forecast period.

Key Solar Power Market Challenge in Brazil

One of the key challenges to the Brazil solar power market growth is the slow growth in photovoltaic systems. According to international experts, the country should focus far more on developing government incentives and the financing of solar power facilities, particularly micro-generation. Wind farms have been built in large numbers across Brazil in recent years, with many homeowners placing PV panels on their homes. Photovoltaic solar energy has been used in over 30 thousand sites in the country. However, factors such as the high cost of construction and maintenance in the absence of government incentives are expected to limit the Brazil solar power market growth during the forecast period.

This solar power market in Brazil analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the solar power market in Brazil as a part of the global renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the solar power market in Brazil during the forecast period.

Who are the Major Solar Power Market Vendors in Brazil?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

  • Abengoa SA
  • BrightSource Energy Inc.
  • Canadian Solar Inc.
  • ENGIE SA
  • First Solar Inc.
  • JinkoSolar Holding Co. Ltd.
  • Scatec ASA
  • Tata Power Co. Ltd.
  • Waaree Energies Ltd.
  • Yingli Green Energy Holding Co. Ltd.

This statistical study of the solar power market in Brazil encompasses successful business strategies deployed by the key vendors. The solar power market in Brazil is concentrated and the vendors are deploying growth strategies such as offering advanced products in low-budget to compete in the market.

Product Insights and News

  • Abengoa SA - The company develops the two most widely used commercial solar thermal technologies such as Tower and Parabolic trough.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The solar power market in Brazil forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Solar Power Market in Brazil Value Chain Analysis

Our report provides extensive information on the value chain analysis for the solar power market in Brazil, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global renewable electricity market includes the following core components:

  • Inputs
  • Electricity generation
  • Electricity transmission
  • Electricity distribution
  • End-users
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

What are the Revenue-generating End-user Segments in the Solar Power Market in Brazil?

Solar Power Market Market segmentation by region

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The solar power market share growth in Brazil by the utility segment will be significant during the forecast period. Utility-scale solar power plants have power purchase agreements (PPA) with utilities to ensure that there is a market for their energy for a fixed period of time. It gives the benefit of fixed electricity prices and it can also be stored in energy storage systems for use when there is no sunlight. Such factors will drive the adoption of utility-scale solar power in the country during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the solar power market size in Brazil and actionable market insights on post COVID-19 impact on each segment.

Solar Power Market Scope in Brazil

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 47.24%

Market growth 2022-2026

89.57 TWh units

Market structure

Concentrated

YoY growth (%)

58.96

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Abengoa SA, BrightSource Energy Inc., Canadian Solar Inc., ENGIE SA, First Solar Inc., JinkoSolar Holding Co. Ltd., Scatec ASA, Tata Power Co. Ltd., Waaree Energies Ltd., and Yingli Green Energy Holding Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Solar Power Market in Brazil Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive solar power market growth in Brazil during the next five years
  • Precise estimation of the solar power market size in Brazil and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the solar power industry in Brazil 
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of the solar power market vendors in Brazil 

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1. Executive Summary                         

               1.1 Market Overview 

                              Exhibit 01:  Key Finding 1

                              Exhibit 02:  Key Finding 2

                              Exhibit 03:  Key Finding 5

                              Exhibit 04:  Key Finding 6

                              Exhibit 05:  Key Finding 7

2. Market Landscape                            

               2.1 Market ecosystem             

                              2.1.1 Parent Market

                              Exhibit 06:  Parent market

                              Exhibit 07:  Market characteristics

               2.2 Value chain analysis           

                              Exhibit 08:  Value chain analysis : Renewable Electricity

                              2.2.1 Inputs

                              2.2.2 Electricity generation

                              2.2.3 Electricity transmission

                              2.2.4 Electricity distribution

                              2.2.5 End-users

                              2.2.6 Innovations

3. Market Sizing                      

               3.1 Market definition

                              Exhibit 09:  Offerings of vendors included in the market definition

               3.2 Market segment analysis  

                              Exhibit 10:  Market segments

               3.3 Market size 2021 

               3.4 Market outlook: Forecast for 2021 - 2026 

                              3.4.1 Estimating growth rates for emerging and high-growth markets

                              3.4.2 Estimating growth rates for mature markets

                              Exhibit 11:  Global - Market size and forecast 2021 - 2026 (TWh)

                              Exhibit 12:  Global market: Year-over-year growth 2021 - 2026 (%)

4. Five Forces Analysis                         

               4.1 Five Forces Summary         

                              Exhibit 13:  Five forces analysis 2021 & 2026

               4.2 Bargaining power of buyers            

                              Exhibit 14:  Bargaining power of buyers

               4.3 Bargaining power of suppliers        

                              Exhibit 15: Bargaining power of suppliers

               4.4 Threat of new entrants     

                              Exhibit 16:  Threat of new entrants

               4.5 Threat of substitutes          

                              Exhibit 17: Threat of substitutes

               4.6 Threat of rivalry   

                              Exhibit 18: Threat of rivalry

               4.7 Market condition 

                              Exhibit 19:  Market condition - Five forces 2021

5. Market Segmentation by Application                       

               5.1 Market segments

                              The segments covered in this chapter are:

  • Grid-connected
  • Off-grid

                              Exhibit 20:  Application - Market share 2021-2026 (%)

               5.2 Comparison by Application             

                              Exhibit 21:  Comparison by Application

               5.3 Grid-connected - Market size and forecast 2021-2026         

                              Exhibit 22:  Grid-connected - Market size and forecast 2021-2026 (TWh)

                              Exhibit 23:  Grid-connected - Year-over-year growth 2021-2026 (%)

               5.4 Off-grid - Market size and forecast 2021-2026        

                              Exhibit 24:  Off-grid - Market size and forecast 2021-2026 (TWh)

                              Exhibit 25:  Off-grid - Year-over-year growth 2021-2026 (%)

               5.5 Market opportunity by Application              

                              Exhibit 26:  Market opportunity by Application

6. Market Segmentation by End-user                            

               6.1 Market segments

                              The segments covered in this chapter are:

  • Utility
  • Rooftop

                              Exhibit 27:  End-user - Market share 2021-2026 (%)

               6.2 Comparison by End-user   

                              Exhibit 28:  Comparison by End-user

               6.3 Utility - Market size and forecast 2021-2026           

                              Exhibit 29:  Utility - Market size and forecast 2021-2026 (TWh)

                              Exhibit 30:  Utility - Year-over-year growth 2021-2026 (%)

               6.4 Rooftop - Market size and forecast 2021-2026        

                              Exhibit 31:  Rooftop - Market size and forecast 2021-2026 (TWh)

                              Exhibit 32:  Rooftop - Year-over-year growth 2021-2026 (%)

               6.5 Market opportunity by End-user   

                              Exhibit 33:  Market opportunity by End-user

7. Customer landscape                        

                              Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

               7.1 Overview

                              Exhibit 34:  Customer landscape

8. Drivers, Challenges, and Trends                  

               8.1 Market drivers      

                              8.1.1 Sunny climatic conditions

                              8.1.2 Provides ecological balance

                              8.1.3 Uplifting factor for the economy

               8.2 Market challenges              

                              8.2.1 Slow growth in photovoltaic system

                              8.2.2 High cost of construction and maintenance

                              8.2.3 Inclination towards hydropower plants.

                              Exhibit 35:  Impact of drivers and challenges

               8.3 Market trends      

                              8.3.1 Increasing renewable electricity usage

                              8.3.2 A large portion of household, agricultural, and industrial users can fulfill their own energy requirements

                              8.3.3 Increasing electricity demand

9. Vendor Landscape                            

               9.1 Overview

                              Exhibit 36:  Vendor landscape

               9.2 Landscape disruption         

                              Exhibit 37:  Landscape disruption

                              Exhibit 38:  Industry risks

               9.3 Competitive Landscape     

10. Vendor Analysis               

               10.1 Vendors covered              

                              Exhibit 39:  Vendors covered

               10.2 Market positioning of vendors    

                              Exhibit 40: Market positioning of vendors

               10.3 Abengoa SA        

                              Exhibit 41:  Abengoa SA - Overview

                              Exhibit 42:  Abengoa SA - Product and service

                              Exhibit 43:  Abengoa SA - Key offerings

               10.4 BrightSource Energy Inc.

                              Exhibit 44:  BrightSource Energy Inc. - Overview

                              Exhibit 45:  BrightSource Energy Inc. - Product and service

                              Exhibit 46:  BrightSource Energy Inc. - Key offerings

               10.5 Canadian Solar Inc.          

                              Exhibit 47:  Canadian Solar Inc. - Overview

                              Exhibit 48:  Canadian Solar Inc. - Business segments

                              Exhibit 49:  Canadian Solar Inc. - Key news

                              Exhibit 50:  Canadian Solar Inc. - Key offerings

                              Exhibit 51:  Canadian Solar Inc. - Segment focus

               10.6 ENGIE SA             

                              Exhibit 52:  ENGIE SA - Overview

                              Exhibit 53:  ENGIE SA - Business segments

                              Exhibit 54:  ENGIE SA - Key offerings

                              Exhibit 55:  ENGIE SA - Segment focus

               10.7 First Solar Inc.    

                              Exhibit 56:  First Solar Inc. - Overview

                              Exhibit 57:  First Solar Inc. - Business segments

                              Exhibit 58:  First Solar Inc. - Key offerings

                              Exhibit 59:  First Solar Inc. - Segment focus

               10.8 JinkoSolar Holding Co. Ltd.           

                              Exhibit 60:  JinkoSolar Holding Co. Ltd. - Overview

                              Exhibit 61:  JinkoSolar Holding Co. Ltd. - Business segments

                              Exhibit 62:  JinkoSolar Holding Co. Ltd. - Key news

                              Exhibit 63:  JinkoSolar Holding Co. Ltd. - Key offerings

                              Exhibit 64:  JinkoSolar Holding Co. Ltd. - Segment focus

               10.9 Scatec ASA          

                              Exhibit 65:  Scatec ASA - Overview

                              Exhibit 66:  Scatec ASA - Business segments

                              Exhibit 67:  Scatec ASA - Key news

                              Exhibit 68:  Scatec ASA - Key offerings

                              Exhibit 69:  Scatec ASA - Segment focus

               10.10 Tata Power Co. Ltd.       

                              Exhibit 70:  Tata Power Co. Ltd.  - Overview

                              Exhibit 71:  Tata Power Co. Ltd.  - Business segments

                              Exhibit 72:  Tata Power Co. Ltd.  - Key offerings

                              Exhibit 73:  Tata Power Co. Ltd.  - Segment focus

               10.11 Waaree Energies Ltd.   

                              Exhibit 74:  Waaree Energies Ltd. - Overview

                              Exhibit 75:  Waaree Energies Ltd. - Business segments

                              Exhibit 76:  Waaree Energies Ltd. - Key offerings

                              Exhibit 77:  Waaree Energies Ltd. - Segment focus

               10.12 Yingli Green Energy Holding Co. Ltd.      

                              Exhibit 78:  Yingli Green Energy Holding Co. Ltd. - Overview

                              Exhibit 79:  Yingli Green Energy Holding Co. Ltd. - Business segments

                              Exhibit 80:  Yingli Green Energy Holding Co. Ltd. - Key offerings

                              Exhibit 81:  Yingli Green Energy Holding Co. Ltd. - Segment focus

11. Appendix                           

               11.1 Scope of the report         

                              11.1.1 Market definition

                              11.1.2 Objectives

                              11.1.3 Notes and caveats

               11.2 Currency conversion rates for US$            

                              Exhibit 82:  Currency conversion rates for US$

               11.3 Research Methodology   

                              Exhibit 83:  Research Methodology

                              Exhibit 84:  Validation techniques employed for market sizing

                              Exhibit 85:  Information sources

               11.4 List of abbreviations        

                              Exhibit 86:  List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Solar Power market growth will increase by $89.57 TWh during 2021-2026.
The solar power market is expected to grow at a CAGR of 47.24% during 2021-2026.
Technavio has segmented the solar power market by end user (Utility and Rooftop) ,application (Grid-connected and Off-grid) , and geographic (Brazil).
Abengoa SA, BrightSource Energy Inc., Canadian Solar Inc., ENGIE SA, First Solar Inc., JinkoSolar Holding Co. Ltd., Scatec ASA, Tata Power Co. Ltd., Waaree Energies Ltd., Yingli Green Energy Holding Co. Ltd. are a few of the key vendors in the solar power market.
Brazil will register the highest growth rate of 100.00% among the other regions. Therefore, the solar power market in Brazil is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the solar power market growth are:
  • Sunny climatic conditions
The solar power market vendors should focus on grabbing business opportunities from the utility segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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