Mexico Power Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Mexican power market is expected to register a CAGR of more than 3% during the forecast period. The COVID-19 pandemic has drastically impacted the Mexican power market. The 3.6% fall in power demand changed the electricity production mix to the greatest extent, with coal-based power generation almost halved (reduced by more than 48%) in 2020, while renewables like wind and solar continued to rise with steady capacity additions. The market is substantially driven by factors like high power demand due to growing population and upcoming power generation projects, particularly to go parallel with the pace of urbanization in the country. However, the new government's intentions to reduce private investments and make the sector more state-owned can pose a significant threat to market growth.
Key HighlightsThe Mexican power market is moderately fragmented. Some of the major companies operating in the market include Enel SpA, Comision Federal de Electricidad (CFE), Iberdrola SA, Acciona SA, and Vive Energia.
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