Latin America Wind Turbine Market Expected to Exceed 240.5 Gigawatt by 2034 as Clean Energy Investment Accelerates

Market Overview

The Latin America wind turbine market size was 9.6 Gigawatt in 2025 and is forecast to reach 240.5 Gigawatt by 2034. The market is poised to grow at a CAGR of 43.04% during the forecast period 2026-2034. Growth is driven by increased investments in renewable energy infrastructure, technological advancements, and cost reductions enhancing turbine efficiency and market expansion.

Download a sample copy of the report: https://www.imarcgroup.com/latin-america-wind-turbine-market/requestsample

Study Assumption Years

Base Year: 2025
Historical Year/Period: 2020-2025
Forecast Year/Period: 2026-2034

Latin America Wind Turbine Market Key Takeaways

The market size reached 9.6 Gigawatt in 2025.
The CAGR is 43.04% for the forecast period 2026-2034.
The forecast period spans from 2026 to 2034.
Brazil leads the wind turbine market in Latin America with significant growth in northeastern wind farms.
Mexico is diversifying its energy mix via onshore and offshore wind farm developments.
Chile's Horizonte wind farm is a major development with $700 million investment and plans to expand capacity to 996 MW by 2025.
Increasing carbon emission reduction commitments and renewable energy targets by Latin American governments drive market growth.

Market Growth Factors

The Latin America wind turbine market will probably speed up in the next few years since large investments in renewable energy infrastructures start. Brazil, Mexico, Chile and Argentina offer financial incentives and support policies increasingly as their governments transition from fossil fuels to renewable energy and reverse climate change. For example, Colbún invested $700 million toward the largest wind farm in Chile. Horizonte has 140 turbines that nominally generate 816 MW. The plan says the total capacity will increase to 996 MW until 2025.

Technology is improving turbine economics as well. Large, more efficient wind turbines, better designs in addition to new materials are all necessary to continue driving down the cost of generating one megawatt of wind power. Hybrid wind-solar power systems are new technologies. These new technologies can create a more reliable energy source even within low-wind areas of the world. Wind power can then compete against energy sources like coal or natural gas.

Several improvements have ensured the system is reliable, and the first LVRT (Low Voltage Ride Through) test in Brazil was conducted during April 2024 by ENGIE Brasil and WEG about producing a 4.2 MW wind turbine, a new milestone in the Brazilian renewable energy industry. These kinds of enhancements may lower downtimes and maintenance costs. These improvements optimize the output. These improvements enable the development of wind energy throughout Latin America.

Request Customization: https://www.imarcgroup.com/request?type=report&id=28679&flag=E

Market Segmentation

Location of Deployment

Onshore: The report includes analysis of onshore wind turbine deployment across Latin America, reflecting the strong presence and expansion of wind farms, especially in regions like northeastern Brazil.
Offshore: Offshore wind farm developments are also progressing, particularly in Mexico, which leverages its extensive coastal wind resources for diversification of the energy mix.

Region

Brazil: The leading market in Latin America, witnessing significant growth in wind power generation with expansion of wind farms in resource-rich northeastern areas.
Mexico: Focused on developing both onshore and offshore wind farms to tap its vast coastal wind resources.
Argentina
Colombia
Chile: Home to the Horizonte wind farm, a major project with extensive investment and capacity growth planned.
Peru
Others

Regional Insights

Brazil dominates the Latin America wind turbine market, driven by the rapid expansion of wind farms in northeastern regions with exceptionally strong wind resources. This dominance is complemented by Mexico's ongoing efforts to diversify its energy mix through both onshore and offshore wind projects along its coasts. Latin America's wind capacity is expected to grow substantially, supported by strong national commitments to carbon emission reductions and renewable energy targets.

Recent Developments & News

In February 2025, Sudene approved the first installment of R62.6millionfortheBorboremaIIWindFarminParaıˊba,Brazil.TheprojectentailsatotalinvestmentofR62.6millionfortheBorboremaIIWindFarminParaıˊba,Brazil.TheprojectentailsatotalinvestmentofR 1.4 billion, installation of 21 wind turbines, providing 123 MW capacity, and construction of a 30 km transmission line.
In January 2025, São Paulo Metro signed a 15-year agreement with CGN Brasil and Pontoon Energia to self-produce wind and solar energy at the Lagoa do Barro Complex in Piauí. This initiative is projected to save BRL 12 million annually and reduce CO2 emissions by over 200,000 tons over the agreement term.

Speak to an Analyst: https://www.imarcgroup.com/request?type=report&id=28679&flag=C

Key Players

Colbún
ENGIE Brasil
WEG
Sudene
CGN Brasil
Pontoon Energia

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

Contact Us

IMARC Group,
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No: (D) +91 120 433 0800
United States: +1-201971-6302

About Us

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

This release was published on openPR.