Market Overview
The Latin America wind turbine market was valued at 9.6 Gigawatt in 2025 and is projected to reach 240.5 Gigawatt by 2034, growing at a CAGR of 43.04% during 2026-2034. The growth is driven by increased investments in renewable energy infrastructure, advancements in technology, and cost reductions in wind turbine manufacturing. These factors are expanding the market with significant contributions from countries like Brazil, Mexico, Chile, and Argentina.
Study Assumption Years
- Base Year: 2025
- Historical Years: 2020-2025
- Forecast Period: 2026-2034
Latin America Wind Turbine Market Key Takeaways
- The Latin America wind turbine market size reached 9.6 Gigawatt in 2025.
- Projected to reach 240.5 Gigawatt by 2034 with a CAGR of 43.04% during 2026-2034.
- The market growth is driven by increased investment in renewable energy infrastructure.
- Brazil leads with significant wind power generation, especially in the northeastern region.
- Mexico is focusing on both onshore and offshore wind farm developments.
- Technological improvements such as larger and more efficient turbines are reducing costs.
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Market Growth Factors
The Latin America wind turbine market is growing at a faster than average pace, partly through increased investment in renewable energy infrastructure and partly through favorable government incentives and policies in Brazil, Mexico, Chile, and Argentina. For example in January 2025, Colbún invested $700 million in the expansion of Chile’s largest wind farm, Horizonte, bringing its total capacity to 996 MW in 2025. In addition to regional commitments to cut fossil fuels and combat climate change, there is also still a meaningful zonal growth in wind energy.
Cost reduction and technological improvements, mainly turbine efficiency, blade design, and material use, are driving the worldwide growth of the industry by reducing the levelised cost of energy for wind. Low speed wind turbines are also being developed for regions like Brazil. ENGIE Brasil along with WEG tested the first LVRT turbine in Brazil, a 4.2 MW unit manufactured by WEG, in April 2024 as part of the Brazil Renewables Grid Stability program to help with grid stability.
Interest by foreign investors has also increased, partly as a result of new hybrid wind and solar systems that can be better suited to a more constant electricity output despite fluctuating winds. As the cost of wind power generation and technology continues to decline, and more wind projects are expected, Latin America’s renewable energy transition is anticipated to be increasingly dominated by wind power.
Market Segmentation
Location of Deployment:
- Onshore: Includes all wind turbine projects located on land, benefiting from strong wind resources, especially in northeastern Brazil.
- Offshore: Encompasses offshore wind farms, which Mexico is actively developing to leverage wind resources along its coasts.
Region:
- Brazil: The leader in Latin America wind energy, with growing wind power generation capacity, particularly in the northeast.
- Mexico: Focuses on diversifying its energy mix with onshore and offshore wind projects.
- Argentina, Colombia, Chile, Peru, Others: These regions are also part of the market with ongoing wind energy developments contributing to the overall growth.
Regional Insights
Brazil dominates the Latin America wind turbine market, with significant wind resource exploitation leading to substantial capacity increases. Investment examples include expansions in northeastern Brazil, a region known for strong wind resources. The growing interest from Mexico in offshore wind farms also marks it as a key player in regional growth, while countries like Chile and Argentina bolster wind capacity through targeted renewable energy policies.
Recent Developments & News
In February 2025, Sudene approved the first installment of R$ 62.6 million for the Borborema II Wind Farm in Paraíba, Brazil, which involves a total R$ 1.4 billion investment for 21 turbines and 123 MW capacity. In January 2025, São Paulo Metro signed a 15-year agreement with CGN Brasil and Pontoon Energia to self-produce wind and solar power at the Lagoa do Barro Complex in Piauí, aiming to save BRL 12 million annually and reduce CO₂ emissions by over 200,000 tons across 15 years.
Key Players
- Colbún
- ENGIE Brasil
- WEG
- CGN Brasil
- Pontoon Energia
- Sudene
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