South & Central America Wind Turbine Rotor Blade Market Forecast to 2030 - Regional Analysis - by Type (Below 40m, 41-60m, 61-70m, and Above 70m) and Deployment Type (Onshore and Offshore)

The South & Central America wind turbine rotor blade market was valued at US$ 1.05 billion in 2022 and is expected to reach US$ 1.39 billion by 2030; it is estimated to grow at a CAGR of 3.5% from 2022 to 20 30.

Growing Investments in Offshore Wind Projects South & Central America Wind Turbine Rotor Blade Market.

Offshore wind farms are thought to be more efficient than onshore wind farms due to higher wind speeds, greater consistency, and a lack of physical interference from land or man-made things. Offshore wind speeds are typically higher than on land. Small changes in wind speed result in substantial gains in energy production: a turbine operating in a 15-mph wind can produce twice as much energy as a turbine operating in a 12-mph wind. Faster offshore wind speeds mean that significantly more energy can be generated. Offshore wind speeds are more consistent than on land. A more consistent supply of wind means a more dependable source of energy. Thus, owing to higher efficiency compared to onshore wind farms, the investments in offshore farms are increasing.

While offshore wind development in the region is not as mature as in other parts of the world, there are promising signs of expansion. Brazil, in particular, has been taking significant steps in this direction. The country boasts a vast coastline along the Atlantic Ocean, offering substantial offshore wind potential. Projects like the Pirapora Offshore Wind Complex are indicative of Brazil's efforts to tap into its offshore wind resources. The Brazilian government has also shown a keen interest in offshore wind auctions, providing regulatory support and policies that incentivize this sector. Chile is another South American nation exploring its offshore wind potential, with projects such as the Cabo Leones II Offshore Wind Farm. The Chilean government has recognized the advantages of offshore wind in diversifying its energy mix and reducing carbon emissions.

Such investments are expected to fuel the demand for offshore wind farms in the future, ultimately generating lucrative opportunities for the wind turbine blades industry.

South & Central America Wind Turbine Rotor Blade Market Overview

South & Central America is expected to grow at a faster pace in the coming years, which is primarily attributed to favorable government policies and increasing investment in wind power projects. Growth is also driven by Brazil, which set a record year and accounted for almost 80% of the additional capacity in the region. According to the Brazilian Wind Power Association, the country's potential for generating wind power is estimated at 30 GW. In addition, in April 2022, 15 MW turbines dominated Brazil's offshore wind project, which is planned to be commissioned by 2024. There are 65 onshore wind projects planned over the next five years, with a total investment of US$ 23 billion. According to GWEC, in the coming five years, onshore wind installations in South America are expected to increase by 26.5 GW, with main contributors being Brazil, Chile, and Colombia.

South & Central America Wind Turbine Rotor Blade Market Segmentation

The South & Central America wind turbine rotor blade market is segmented based on type, deployment type, and country. Based on type, the South & Central America wind turbine rotor blade market is segmented into Below 40m, 41-60m, 61-70m, and Above 70m . The Above 70m segment held the largest market share in 2022.

Based on deployment type, the South & Central America wind turbine rotor blade market is bifurcated into onshore and offshore. The onshore held a larger market share in 2022.

Based on country, the South & Central America wind turbine rotor blade market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America wind turbine rotor blade market share in 2022.

Vestas Wind Systems AS, ENERCON GmbH, LM Wind Power AS, Siemens Gamesa Renewable Energy SA, Acciona SA, Suzlon Energy Ltd, Nordex SE, and Envision Energy USA Ltd are some of the leading companies operating in the South & Central America wind turbine rotor blade market.