According to the study (Local Wind Turbine Supply Chain to Meet Market Take Off in Perspective 2010-2025), this wind turbines industry will not experience – even by far – growth rates like those of some European countries or China.
However, the trend is moving from sporadic wind farm project activations to a more steady wind power growth, evaluated in an average of 12.6% per year. Overall, about 46,000 MW will be installed by 2025.
Two thirds of this additional capacity is expected to be installed in Brazil (31,000 MW). Mexico follows, with an estimated 6,600 MW in 2025, then Chile, Argentina and other countries with gradually smaller capacities.
Turnover will increase from 780 million euros in 2009 to 1.7 billion in 2015. According to forecasts, in Brazil alone there will a demand for 300 new wind turbines by 2011.
In the short term, European companies will prevail in the wind energy market, due to their experience in this industry and their greater financial means. Nevertheless, according to the study, within a few years Latin American firms will be able to play a prevalent role.
Brazil will lead the region with 31.6 GW installed by 2025, trailed by Mexico with 6.6 GW. Chile will also add significant wind power, boosted by the country’s Renewable Portfolio Standard, according to the study.
Brazil’s market size, representing 69 percent of Latin America’s total installed capacity in 2025, positions the country as a leader in the region and a relevant supply hub. Demand and local content requirements are encouraging operation equipment manufacturers to invest primarily in Brazil-based manufacturing of turbines 1.5 MW and larger.
Chile will peak at 280 MW installed in 2024, before dropping 55 percent due to the achievement of its 10 percent renewable portfolio standard target.
Peru, Argentina, Uruguay and Costa Rica host diverse market drivers, including supply security concerns and wind resources, though policy execution is lacking.