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Brazil Wind Energy Market Size (2024 - 2029)

The Brazil Wind Energy Market is projected to experience significant growth over the forecast period, driven by increasing electricity demand and government targets for renewable capacity installations. Despite potential challenges from the adoption of other clean energy sources like solar photovoltaics, the market is expected to benefit from favorable government regulations and incentive schemes, which are likely to offer substantial growth opportunities.

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Market Size of Brazil Wind Energy Industry

Brazil Wind Energy Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 9.57 %
Market Concentration Medium

Major Players

Brazil Wind Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

Brazil Wind Energy Market Analysis

The Brazil Wind Energy Market size is expected to grow from 28.62 gigawatt in 2023 to 45.20 gigawatt by 2028, registering a CAGR of 9.57% during the forecast period.

  • Over the medium term, factors such as rising electricity demand and renewable capacity installation targets set by the government, are expected to drive the wind energy market in the country.
  • On the other hand, the rising adoption of alternative clean energy sources, such as solar photovoltaics (PV), is anticipated to restrain the market's growth.
  • Nevertheless, the growing regulation and incentive schemes by the government of Brazil are likely to create lucrative growth opportunities for the market during the forecast period.

Brazil Wind Energy Industry Segmentation

Wind energy is renewable energy generated by harnessing wind energy to produce electricity. Wind turbines create wind energy with large blades connected to a rotor. When the wind blows, it causes the rotor to turn, which then generates electricity.

The Brazil wind energy market is segmented by location of deployment. By location of deployment, the market is segmented into onshore and offshore. The report offers the market size and forecasts for the Brazil wind energy market in terms of gigawatts (GW) for all the above segments.

Location of Deployment
Onshore
Offshore
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Brazil Wind Energy Market Size Summary

The Brazilian wind energy market is poised for significant expansion, driven by increasing electricity demand and government-mandated renewable capacity targets. The market is expected to experience robust growth over the forecast period, with the onshore segment leading due to its cost-effectiveness and flexibility compared to offshore projects. Brazil's wind energy capacity is bolstered by government initiatives and private sector investments, with a substantial number of wind power plants already operational across the country. The growing size of wind turbines has further enhanced the economic competitiveness of wind energy, making it a viable alternative to fossil fuels. Despite the rise of solar photovoltaics as a clean energy source, government regulations and incentives are anticipated to provide substantial growth opportunities for the wind energy sector.

Brazil's commitment to expanding its renewable energy capacity is evident in its strategic plans to reduce carbon emissions by phasing out fossil fuel-based power generation. The country has seen a notable increase in solar energy capacity, positioning itself as the largest solar market in South America. This growth in solar energy, alongside wind energy, is part of Brazil's broader strategy to diversify its energy mix under the Plano Decenal de Expans√£o de Energia (PDEE) 2027. The demand for renewable energy equipment is expected to remain strong, supported by significant investments in solar manufacturing facilities. The wind energy market, while moderately fragmented, features key players such as Vestas Wind Systems, Nordex, and Siemens Gamesa, who are actively involved in large-scale projects, including collaborations for offshore wind power development.

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Brazil Wind Energy Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Wind Power Installed Capacity and Forecast in GW, until 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Rising Electricity Demand

        2. 1.5.1.2 Renewable Capacity Installation Targets Set by the Government

      2. 1.5.2 Restraints

        1. 1.5.2.1 Rising Adoption of Alternative Clean Energy Sources

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Location of Deployment

      1. 2.1.1 Onshore

      2. 2.1.2 Offshore

Brazil Wind Energy Market Size FAQs

The Brazil Wind Energy Market is projected to register a CAGR of 9.57% during the forecast period (2024-2029)

Neoenergia SA, Vestas Wind Systems AS, Siemens Gamesa Renewable Energy SA, Nordex SE and ABB Ltd are the major companies operating in the Brazil Wind Energy Market.

Brazil Wind Energy Market Report Snapshots

Brazil Wind Energy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)