Latin America Wind Turbine Market Growth and Forecast 2014-2020

Latin America Wind Turbine Market Global Industry
Analysis and Forecast Till 2020
April 2017
Report Id : REP-LA-141
Status : Ongoing
Category : Energy, Mining, Oil, and Gas
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Research Methodology (1/2)
Systematic Research Approach
Market profiling
Formulating discussion guide
Developing list of respondents
In-depth secondary research is used to
ascertain overall market size, top
industry players, top products, industry
associations, etc.
PMR formulates a detailed discussion
guide to conduct expert and industry
PMR develops a list of industry players
(manufacturers), distributors, retailers
and industry experts
Data collection
PMR conducts interviews with industry
experts, industry players, distributors
and retailers
Data validation
Data is validated by triangulation
method, wherein secondary, primary
and PMR analysis contribute to the final
Data analysis
Data is scrutinized using MS-Excel to
obtain qualitative and quantitative
insights about the industry
PMR delivers industry insights and
information in the required format
Research &
Data Filter
& Analysis
Identifying key opinion leaders
Questionnaire design
In-depth interviews
Coverage across value chain
Market participants
Key strengths
Product portfolio
Mapping as per value chain
Key focus segments
Primary Research #
Key industry experts
Channel study
Market dynamics
Secondary Research #
Company websites
Company annual
White papers
Financial reports
Paid Publications#
# includes sources of databases
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Latin America Wind Turbine Market
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. 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
©2015 Future Market Insights, All Rights Reserved
Latin America Wind Turbine Market
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.
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. Feed-in electricity tariffs have been introduced to
©2015 Future Market Insights, All Rights Reserved
Latin America Wind Turbine Market
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 Spainbased 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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