Latin America Wind Turbine Market Growth and Segments,2014-2020 FMI | Page 4

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 powe r 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.