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Latin America
Wind Turbine
Market
Share, Global Trends,
Analysis, Research, Report,
Opportunities,
Segmentation and Forecast,
2014-2020
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Report
Description
Report Description
Wind energy is the power extracted from wind using wind turbines. A wind turbine is a
device that transforms the kinetic energy of the wind into electrical energy. Wind energy
is a renewable form of energy that is available in ample quantity and extensively. It is an
alternative to fossil fuels which are depleting in quantity. Wind energy is the cleanest
resource; it has neither toxic gas emissions nor greenhouse gas emissions. Wind turbines
are connected to the network of electricity transmission. The onshore and offshore wind
that is trapped is an inexpensive, competitive and significant source of energy. Wind
energy contributed to 4% of the total global electricity usage in 2013.
The application of wind turbines is primarily in wind mills that are used to generate
electricity. These wind turbines in wind mills can be used to avail off-grid electricity in the
remote regions. It has been known to empower rural electrification initiatives. Three
fourths of the small wind turbines are present in the remote regions of the world and are
the only sources of energy. For instance, wind power systems are fuelling the
telecommunication towers in the secluded places between Argentina and Chile. Another
application of wind turbines is associated with the hybrids of wind and solar power
generation devices. Wind and solar sources complement each other in changing climatic
conditions. Wind turbines have vital applications in off-grid, low-power systems in which
the storage of batteries is avoided. Wind turbines also have application in cathodic
protection pipes in which its electric charge neutralizes the galvanic corrosion of pipes
laid in reactive soils. Wind turbines are used to charge electric fences, yacht and boat
batteries efficiently. Wind turbines have been used to pump water for decades, and they
remain a significant application in both developed and developing economies.
Report
Description
Report Description
The end use industries of wind turbines can be broadly classified into industrial,
commercial and residential. The industrial use can be further divided into power
generation, agriculture, industrial automation, engineering and telecommunication.
Despite being commercially niche market at present, wind turbines are expected to
expand due to increasing government subsidies and incentive programmes on the use of
wind energy.
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The global wind industry produced about 37,000 MW in 2013. Latin America, in
particular, has provided the industry with an essential substitute growth market for wind
power. In 2013, Latin America alone representedapproximately 45% of the installed
capacity of North and South America combined. It was largely driven by the wind markets
of Brazil and Mexico which can be regarded as the dual pillars of the Latin American
market. The average price of wind energy contracts in Brazil is US$ 50/MWh and gives
wind energy an edge over conventional fossil fuels there. This is a major driver for the
wind turbine market in Brazil. The wind power in Mexico provides power to over 65,000
households and exports it to US. Food and beverage company, Nestle, had invested US$
60.7 million in wind energy in Mexico, and employed wind energy for its 85% electricity
requirement. The cumulative wind capacity in Mexico reached 1988 MW by the end of
2013 indicating a 31.4% growth rate. The installed capacity in 2013 was 76 MW in
Argentina, 200 MW in Chile, 30 MW in Peru, 11 MW in Uruguay, and149 MW in
Venezuela.
Report
Description
Report Description
Strong wind resources, and rising electricity prices and energy demand are driving the
demand for renewable energy higher. The Latin American industrial policies are effective as
they have tailored depreciation tax policies which enable industries to actively partner with
wind energy generators for their energy usage. Also, wind plants do not need to be in the
vicinity of the end user and just need a connection to the Latin American power grids. Feedin electricity tariffs have been introduced to motivate the use of renewable energy such as
wind energy, solar energy, hydropower, thermal energy and biomass energy. This
encourages investment in renewable energy as the government makes provisions for higher
retail rates for electricity for the producers of new energy technologies.
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Consistently declining monopoly in the Latin American electricity sector had paved way for
wind turbine manufacturers. The current wind turbine market is competitive. Gamesa is the
leading turbine supplier in Mexico and holds 73.5% of the market. It is followed by Vestas
with 22% of the market contribution. GE is also a major turbine manufacturer with 4.5%
market share in Mexico. Besides, the collapse of the Spain-based OEMs (Other Equipment
Manufacturers) wind market has compelled companies to expand their business in Latin
America.
By 2015, Latin America is expected to have 3 GW of installed wind capacity annually, surging
up to 4.3 GW by 2022. The manufacturers have to meet certain mandates on wind turbine
components and their materials. It is a challenge for most OEMs to deliver high quality wind
turbines while still ensuring an economical Latin American wind market.
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