The Latin America wind turbine market reached US$ 4,861.8 million in 2020. Demand for wind turbine in Latin America saw a 6.8% year-on-year growth in 2025, suggesting an expansion of the market to US$ 6,678.5 million in 2025. Projections for the period between 2025 and 2035 indicate a 7.6% compound annual growth rate (CAGR) for Latin America wind turbine sales, resulting in a market size of US$ 13,902.6 million by the end of 2035.
Horizontal axis wind turbine (HAWT) accounted for maximum market share in the Latin America wind turbine market. At present, the most commonly used wind turbine is HAWT or horizontal axis wind turbine. These turbines use airfoils that are connected to a rotor by positioning in upwind or downwind.
These are the most frequently used wind turbines for commercial and industrial purposes due to their large power output and high efficiency. Reliability, cost efficiency, and high stability make HAWT most widely adopted wind turbine over VAWT. In this turbine, the vanes are located one face of the turbine center of gravity, which improves stability and the blade can also tilt the rotor during a storm to reduce damage. The wind is stronger at greater heights. A HAWT can be placed at heights to take advantage of strong winds.
Horizontal axis wind turbines are generally built to have a capacity ranging between 2 to 8 MW, depending on the usage. While the output of a wind turbine depends on the turbine’s size and the wind speed, an average onshore wind turbine with a capacity of 2.5-3.0 MW can produce more than 6 million kWh in a year.
Due to the height of the rotors, horizontal axis wind turbines are able to receive wind with greater speed. This means they are more likely to operate at higher wind speed which helps them provide optimal performance. Since the air flow at such height is relatively stable, horizontal axis wind turbines ensures more consistency in wind and thus in power output.
| Attributes | Key Insights |
|---|---|
| Estimated Value (2025) | US$ 6,678.5 million |
| Projected Size (2035) | US$ 13,902.6 million |
| Value-based CAGR (2025 to 2035) | 7.6% |
The growth trajectory of VAWT is anticipated to grow at fastest CAGR in the forecast period and is expected to account for CAGR of 8.3% in 2025 to 2035.
Vertical axis wind turbine (VAWT) is a turbine in which the rotor axis is in the vertical direction. Since the rotor axis is in the vertical direction, these turbines need not be pointed into the wind to be effective make them advantageous for the usage on sites where the wind direction is highly variable. They are significantly quieter than horizontal axis wind turbines making them particularly useful in residential and urban areas.
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The annual growth rates of the Latin America wind turbine market from 2025 to 2035 are illustrated below in the table. Starting with the base year 2024 and going up to the present year 2025, the report examined how the industry growth trajectory changes from the first half of the year, i.e. January through June (H1) to the second half consisting of July through December (H2). This gives stakeholders a comprehensive picture of the sector’s performance over time and insights into potential future developments.
The table provided shows the growth of the sector for each half-year between 2024 and 2025. The market was projected to grow at a CAGR of 6.7% in the first half (H1) of 2024. However, in the second half (H2), there is a noticeable increase in the growth rate.
| Particular | Value CAGR |
|---|---|
| H1 2024 | 6.7% (2024 to 2034) |
| H2 2024 | 6.8% (2024 to 2034) |
| H1 2025 | 6.9% (2025 to 2035) |
| H2 2025 | 7.0% (2025 to 2035) |
Moving into the subsequent period, from H1 2024 to H2 2024, the CAGR is projected as 6.9% in the first half and grow to 7.0% in the second half. In the first half (H1) and second half (H2), the market witnessed an increase of 10 BPS each.
Between 2020 and 2024, the target market registered growth rate of 6.5% by reaching a value of US$ 6,252.3 million in 2024 from US$ 4,861.8 million in 2020. With its comparatively low-density population and large distances between towns and cities, wind power production offers huge potential for supplying the needs of inhabitants across Latin America.
The Latin America overall wind power capacity is 28.1 gigawatts in 2023. Brazil is the leading country in the Latin America. Countries such as Chile and Argentina are also investing in the renewable energy sector. Brazil’s wind power capacity had reached 15.5 GW in 2019 making it Latin America’s top wind power producer. While it has made a significant leap since the previous year, wind energy still only ranks fourth in the country’s energy mix-delivering 8% of its 162.5GW renewable power output.
It has been predicted that by 2025, Brazil will generate 69% (31.6GW) of Latin America’s total installed wind capacity - and become the leader for turbine manufacturing and supply chain assembly in the region. Another factor contributing to Brazil’s growth in wind power generation will be international manufacturers, such as GE and Alstom, launching wind turbine facilities in the country.
Countries globally are now dealing with the unparalleled twin challenge of guaranteeing secure energy supplies and meeting climate targets to curtail the effects of global warming. 2022 so far, has seen consumers globally bear the brunt of spiraling fuel and power prices as well as associated inflation, creating a cost of living crisis being felt in every corner of the world. It has also seen record emissions and temperature increases, and ever graver warnings from international climate bodies, as encapsulated in the latest IPCCC report.
Investment in renewables in Latin America has increased exponentially by an average of 10% every year in the past decade, providing almost 100 GW of wind and solar capacity in 2022. Brazil is adding 1 GW of solar capacity every month and is in the top 10 solar and wind power generators in the world. Uruguay has achieved the quickest renewable deployment in the world. Today, 98% of electricity comes from renewables. There are around 320 wind and solar projects in Latin America’s pipeline, of which around 200 are in the pre-construction or construction phase. Together, the projects amount to 319 GW of new capacity.
All these factors have played pivotal role in expanding the demand for Latin America wind turbine industry in 2020 to 2024.
Looking ahead to 2025 to 2035, the market is anticipated to grow faster. Latin America and the Caribbean are contributing minimally towards the global emissions and the global emission of both accounts for less than 10%. Countries in the Latin America have traditionally relied on renewable energy sources such as solar, wind, and hydro for meeting the energy demands. Several Latin American countries have taken measures to further reduce their impact on the climate.
In seven Latin American countries, non-hydro renewable power already represents over 30% of installed capacity. There were 22 GW of capacity additions of wind and solar in 2022, bringing the total to almost 100 GW for the region. For 2023, BloombergNEF projects another record year for Latin America of around 25 GW of new wind and solar, with Brazil and Chile leading the way. This is equivalent to five times the total installed capacity of Uruguay’s electricity sector. Wind and solar help to shield households against price fluctuations, but they also generate jobs.
Growing demand for renewable energy sector
Latin America has witnessed strong investment, with an average annual increase of around 10%. The continent is investing over US$ 15 billion yearly and the total investment accounted for to almost US$ 167 billion in 2015 to 2024. The growth of investment is mainly due to large number wind and solar plants being setup to meet the energy demand. In 2022 the Latin America invested around US$ 19.2 billion in renewable energy projects. Renewable energy in Latin America has seen exponential growth in recent years owing to strong support from government policies and rapidly falling prices of renewable energy. All these factors have surged the demand for wind energy and thereby expected to drive the wind turbine industry in the near future.
Brazil is forefront in the renewable energy sector owing to large investment in renewable energy sector. Country has positioned itself as a world leader in renewable energy job creation followed by China. Since 2018, Brazil has seen the largest number of renewable energy jobs in Latin America. In the latest rankings of the Renewable Energy Country Attractiveness Index (RECAI), Brazil was ranked 14th globally, ahead other Latin American countries.
Brazil is the largest energy market in Latin America. Its commitment to renewables is evident in the country’s Energy Expansion Plan (PDE) for 2021 to 2031, which aims for 50% renewable sources in the total energy mix. In 2020, renewables accounted for 85% of the electricity sector’s demand, and this number is expected to rise to 88% by 2030.
Brazil’s commitment to renewables is reflected in the number of renewable energy plants built this year. In this period alone, 160 power plants began operating, including 67 wind farms with a capacity of 2.3 GW and 59 solar PV plants generating 2.2 GW.4 In total, 5.1 GW was installed, constituting half of the growth target set by the National Electric Energy Agency (ANEEL) for 2023, of 10.3 GW.
Brazil’s wind power dominance has pushed the demand for wind turbine market
Wind energy is currently the third biggest energy source in Brazil, boasting an installed capacity of just over 26 GW and making up 13.7% of the country’s electricity mix. With 935 wind farms (over 9,000 wind turbines) already built and an additional 4.6 GW of capacity expected to be operational by 2023, Brazil has made significant strides in the wind energy sector, securing its position as the 6th largest global player in wind energy. By 2028, the country is expected to have almost 44.8 GW of installed capacity.
While offshore wind energy is still an emerging market, according to Brazil’s environmental regulator Ibama there are 74 projects in the licensing phase, which, if approved, have the potential to generate 183 GW of power and become operational within the next six years. Brazil’s commitment to wind power is evident in its investments. In 2022, wind sector investments reached USD 6.2bn, accounting for 42% of all investments made in renewable energy sources. In 2022, wind energy generation had the capacity to supply an average of 41.5 million homes per month, benefiting approximately 124 million citizens. This avoided more than 26 million tonnes of CO2 emissions, equivalent to the annual emissions of around 22 million cars. From 2016 to 2024, the Brazilian wind sector is projected to avoid GHG valued at between USD 12bn and 14bn.
Decrease in adoption and reliance on fossil fuel for electricity generation
As renewable power generation continues to rise, Brazil’s reliance on fossil-fuel generation is expected to decrease significantly in the coming years. According to BloombergNEF and the Climate Investments Fund (CIF), on its current trajectory Brazil is projected to achieve 81 GW of renewable energy capacity by 2030 and 190 GW by 2050. As a result, estimations indicate a decline in the contribution of gas, oil and coal to Brazil’s power generation, which will fall from 13% to 4% by 2050. Consequently, Brazil’s power generation is estimated to reach 95% zero-carbon by 2050, further solidifying its position as one of the world’s cleanest major markets and helping destroy fossil fuel demand.
Uruguay started its move away from fossil fuel-based electricity generation in 2005 with a National Energy Plan that set a target of 15% renewables by 2015, including 300 MW of wind. Not only did Uruguay reach its goal a year early, but in 2015 the country had almost three times more installed wind energy than targeted (857 MW). Uruguay achieved the quickest renewable deployment in the world - between 2013 and 2018, generation increased from 1% to 35%. A great drought in 2020 made hydropower unreliable, which pushed further investment in renewables, mainly into wind power. Investment in renewable energy was also incentivized through several tax breaks. In 2021, those investments had already paid off - Uruguay sold its surplus wind and solar electricity to Brazil and Argentina, making USD 529m. In the last decade, Uruguay invested over USD 8bn in the renewable energy sector, with the result that, today, 98% of electricity comes from renewables. In 2021, wind and solar generated 47% of the country’s electricity, the third highest percentage in the world, with the rest mainly provided by hydropower. The country has 48 wind farms, with 1,525 MW of installed capacity.
High potential of wind energy drives demand for wind turbine in Latin America
Latin America has established itself as a mature player in the global energy transition, with over two decades of experience in deploying renewable energy. Countries like Uruguay and Costa Rica have already achieved nearly 100% renewable energy grids, and 16 of the region’s 33 countries have committed to net zero emissions by mid-century or earlier, in alignment with the Paris Agreement. This strong foundation underscores Latin America’s crucial role and readiness to further advance in the global energy transition.
Latin America is at a critical juncture in its renewable energy journey, with vast potential to harness its abundant wind resources to drive economic growth, reduce carbon emissions, and achieve Sustainable Development Goals (SDGs). Accelerating investments in renewable energy in Latin America presents significant advantages, including job creation, enhanced economic security, infrastructure development, supply chain resilience, and poverty alleviation within local communities. However, these potential benefits are undermined by persistent challenges, such as a volatile policy landscape, complex permitting processes, inadequate community engagement, and the unequal distribution of benefits, which erode public trust and leave communities feeling marginalized from the economic gains of wind energy projects, fueling frustration and resistance.
Unlocking the full potential of wind energy in Latin America requires a strong foundation of social acceptance. Governments must create an enabling environment, while the industry must work collaboratively with communities to not only deliver clean energy to the region but also to ensure a just energy transition. This includes prioritizing streamlined and efficient permitting processes, ensuring equitable benefit-sharing that upholds public interest, and fostering trust through early and continuous engagement with local stakeholders. By addressing these critical areas, Latin America can accelerate its wind energy deployment, ensuring that both environmental and socioeconomic benefits are realized, and paving the way for a sustainable energy future.
Risk associated with flying vertebrates is predicted to slow down the development of Latin America wind turbine industry
Wind energy production in Latin America is growing, but there are several constraints related to environmental, social, political, and economic factors. Latin America hosts 40% of the world’s biodiversity, including nearly 450 species of bats. It is also an essential corridor for migratory bird species. .Expanding wind energy in the region can help mitigate the impacts of global warming, but environmental impacts, such as collision risk for certain species of birds and bats, may contribute to biodiversity loss.
For birds, Latin America and the Caribbean are home to 775 endemics bird species, representing 18% of the total, many of which are potentially threatened by wind farms. The neotropical realm, hosts between 4,400 and 4,560 bird species and serves as an important corridor for many migratory species. However, the installation of wind farms in areas used as migratory routes can lead to habitat fragmentation.
The migratory corridors over Latin America are critical for many bird species, and wind farms located in these corridors can lead to flight path changes, habitat fragmentation, and disrupted ecological connectivity. Additionally, for the region’s high diversity of bats, the presence of wind farms near feeding or migratory areas increases collision risk.
As of 2023, at least 69 bird species had been recorded as collision victims with wind turbines across Latin America. The most affected bird orders include Passeriformes, followed by Columbiformes, Galliformes, Cathartiformes, and diurnal raptors (Accipitriformes and Falconiformes). The species with the highest proportion of mortality records was the northern bobwhite (Colinus virginianus), classified as “near threatened”.
Tier 1 companies comprise players with a revenue of above US$ 500 million capturing a significant share of 40-45% in the Latin America market. These players are characterized by high production capacity and a wide product portfolio. These leaders are distinguished by their extensive expertise in manufacturing and reconditioning across multiple wind turbine applications and a broad geographical reach, underpinned by a robust consumer base. Prominent companies within Tier 1 include Enel Spa, ACCIONA, Vestas, Iberdrola, S.A., Vortex, and other players.
Tier 2 companies include mid-size players with revenue of below US$ 500 million having a presence in specific countries and highly influencing the local industry. These are characterized by a strong presence overseas and strong industry knowledge. These players have good technology and ensure regulatory compliance but may not have advanced technology and wide global reach. Prominent companies in tier 2 include Toshiba Energy Systems & Solutions Corporation, Siemens Gamesa, LM Wind Power, thyssenkrupp AG, ENERCON Global GmbH, and other player.
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The section below covers the industry analysis for wind turbine demand in different countries. The demand analysis on key countries in Latin America region is provided.
Brazil will hold 37.3% market share due to XX. Chile occupied around 17.8% owing to XX. Colombia accounted for 15.2% due to XX
| Countries | Value CAGR (2025 to 2035) |
|---|---|
| Argentina | 8.5% |
| Brazil | 6.4% |
| Chile | 7.9% |
| Colombia | 7.1% |
| Uruguay | 8.2% |
The sale of wind turbine in Brazil is projected to reach US$ 5,185.7million and is estimated to grow at an 6.4% CAGR by 2035.
Wind energy is becoming one of the main energy sources of the Brazilian Power Sector. The installed capacity increased from 24,700 MW in 2007 to 1,537,885 MW in 2022.
In Brazil, the development of the power sector was strongly based on large hydroelectric plants with extensive water reservoirs. However, due to the intensification of environmental pressures and the depletion of water potential, the diversification of the Brazilian electrical matrix became urgent. To achieve this objective, one of the main actions was the expansion of national wind farms. This expansion allowed the expressive increase of the participation of wind energy in the national electricity matrix, accounting for 9.0% of the Brazilian matrix in 2019, and thus the third energy source in terms of installed capacity after hydropower (60.5%) and thermal (24.2%).
The sales of wind turbine in the Chile is projected to reach US$ 2,474.7million by 2035. Over the forecast period, demand for wind turbine industry within the Chile is predicted to grow at an 7.9% CAGR.
For the first time, wind and solar generated more of Chile’s electricity than coal over a full 12-month period, from August 2021 to September 2022. Solar and wind generated 27.5% of Chile’s electricity over the 12 months from October 2021 to September 2022. For the first time in history, this brings its contribution just above coal, which dropped to 26.5% after being the biggest generator of electricity for over a decade.
In just three years, Chile’s annual solar and wind electricity generation doubled from 9 TWh (12%) in 2018 to 18 TWh (22%) in 2021. Chile’s rapid transition from coal power to wind and solar while growing its electricity demand provides inspiration for other emerging economies.
Decoupling emissions and economic growth is the goal for emerging economies that want to continue to develop while also tackling the climate crisis. While many countries still rely on coal to meet expanding electricity demand, Chile has proven that wind and solar can do the job. In 2016, Chile peaked its use of fossil fuels in the power sector, and since then it has rapidly reduced its dependence on coal, despite electricity demand growing throughout that period.
The demand for wind turbine in Colombia is projected to reach US$ 2,113.2 million and grow at a CAGR of 7.1% by 2035.
Colombia has world-class wind and solar energy potential and recent regulatory updates have enacted a robust framework of incentives. However, as of 2022, solar and wind have an operating installed capacity of just about 1.5% of the capacity mix. The next five years could see a sharp increase in solar and wind capacity. If the approved capacity effectively enters into operation, shares of solar and wind energy in Colombia’s capacity mix will increase to nearly 40% by 2027.
Colombia’s rich wind and solar energy potential is estimated at 30 GW and 32 GW, respectively, according to SER Colombia, which is more than Colombia’s current installed capacity of 18.8 GW. Of particular interest is La Guajira region, with world-class wind resources (average wind speeds of 9.8 m/s) and 18 GW of Colombia’s wind power potential. However, this potential has remained to a large extent untapped: the country’s operating installed capacity for solar in 2022 was 290 MW and for wind 18.4 MW representing 1.5% and 0.1% of the capacity mix, respectively.
The section explains the market share analysis of the leading segments in the industry. In terms of axis type, the horizontal wind turbine (HAWT) type will likely dominate and generate a share of around 92.1% in 2025.
Based on the end use, the utility segment is projected to hold a major share of 45.8% in 2025. The analysis would enable potential clients to make effective business decisions for investment purposes.
| Segment | Value Share (2025) |
|---|---|
| Horizontal Axis Wind Turbine (HAWT) (Axis Type) | 92.1% |
The modern horizontal-axis wind turbine (HAWT) is designed to provide energy on a commercial or utility level. It is distinguished from other examples of wind energy generation by having its rotors rotate horizontally (similar to a windmill), therefore it must be pointed in the direction of the wind. HAWT generators constitute the overwhelming majority of wind power generation throughout the world as they are efficient, reliable and usually provide the best return on investment.
Floating wind turbines consist of a HAWT mounted on a floating platform that can be moved at will, allowing wind energy to be harnessed from areas with a deep sea floor that would be unsuitable for construction. They can be moved to improve wind yield, accommodate fishing vessels or shipping routes, or even transported back to the coast for upgrades or more complex maintenance tasks.
| Segment | Value Share (2025) |
|---|---|
| Residential (End Use) | 45.8% |
Investment in wind turbine research & development has recently made wind turbines more efficient, helped to drive down costs due to technological advancements of new wind turbines, and helped to put wind energy on a stronger footing to out-compete coal and natural gas. Breakthroughs in wind technology include the production of increasingly larger wind turbines.
Turbines are increasingly made from stronger, lighter composite materials such as carbon fiber or composite materials. New wind turbines are being produced with an increased use of strong, light, corrosion-resistant composite materials for wind turbine blades, towers, and foundation structure construction. Recent developments in wind turbines include such technological advancements as lasers pinpointing the direction of the wind. Lasers are used so that turbine blades can optimize their productive capacity by automatically adjusting their position. Here's a summary of recent wind turbine optimizations.
Advancements in blade design of new wind turbine blades optimize performance by maximizing energy production capacity, optimizing the flow of wind turbine blades, and decreasing drag. Many new wind turbines on the global market are also manufactured with an increased length of wind turbine blades. New wind turbines also have increased power generating capacity, compared to wind turbines produced last decade. GE recently unveiled a 12 MW offshore wind turbine (now being developed as 12, 13 or even 14 MW units) the Haliade-X.
Key companies producing wind turbine are slightly consolidate the market with about 50-55% share that are prioritizing technological advancements, integrating advanced production technologies, and expanding their footprints in the Latin America region. Customer satisfaction remains paramount, with a keen focus on producing wind turbine to meet diverse applications. These industry leaders actively foster collaborations to stay at the forefront of innovation, ensuring their wind turbines align with the evolving demands and maintain the highest standards of quality and adaptability.
Recent Industry Developments:
The Product Type segment is further categorized into Horizontal Axis Wind Turbine (HAWT) and Vertical Axis Wind Turbine (VAWT).
The Capacity segment is classified into Micro Wind Turbine (<30 kW), Small Scale Wind Turbine (31 kW - 100 kW), Medium Scale Wind Turbine (101 kW - 500 kW), Large Scale Wind Turbine (501 kW - 2 MW), and Utility Scale Wind Turbine (>2 MW).
The Location of Deployment segment is classified into On Shore and Off Shore.
The End Use segment is classified into Residential, Commercial, Industrial, and Utility.
Countries considered in the study include Argentina, Brazil, Chile, Colombia, Uruguay, Peru, and Other Countries.
The Latin America wind turbine market in Brazil was valued at US$ 2,491.1 million in 2025.
The demand for Latin America wind turbine industry is set to reach US$ 13,902.6 million in 2035.
Governments across Latin America are implementing supportive policies and incentives to boost renewable energy adoption, including wind power. These include auctions for renewable energy projects, tax incentives, and long-term power purchase agreements (PPAs) and region boasts high wind potential, particularly in areas such as northeastern Brazil, the Patagonia region of Argentina, and coastal areas in Chile. These natural resources provide ideal conditions for wind energy generation.
The Latin America wind turbine industry demand was valued at US$ 6,678.5 Mn and is projected to reach US$ 13,902.6 million by 2035 growing at CAGR of 7.6% in the forecast period.
Utility end use is expected to lead during the forecast period.
| Market Size (2023) | USD 13,024.38 million |
|---|---|
| Market Size (2033) | USD 44,212.14 million |
| Market CAGR (2023 to 2033) | 13% |
| Market Size (2023) | USD 9,237.2 million |
|---|---|
| Market Size (2033) | USD 17,667.8 million |
| Market CAGR (2023 to 2033) | 6.7% |
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