Product Code: BMIRE00028087
The South America wind turbine components market is expected to grow from US$ 9,580.40 million in 2022 to US$ 11,386.29 million by 2028. It is estimated to grow at a CAGR of 2.9% from 2022 to 2028.
Rising Number of Wind Farms is fueling the growth of South America
There is an increase in demand for a clean energy source as it eliminates greenhouse gases, reduces dependence on imported fuels, and diversifies the energy supply. This is fueling government investments in the construction of wind farms across the region. To achieve the target of Net Zero Emissions by 2050, significant investments are made for the new construction and expansion of wind farms. As the investment in wind farms is rising, the demand for various wind turbine components such as rotor blades, nacelle, gearbox, generator, tower, and pitch system is also increasing, catalyzing the growth of South America wind turbine components market .
South America Wind Turbine Components Market Overview
The South America region is segmented into Brazil, Argentina, and the Rest of South America. Economies in South America have progressed at a faster rate on average than the economies of developed countries in the last 15 years. However, they still lag in terms of technological advancements. The lack of skilled labor, decreasing productivity, and high dependency on exports are some of the major constraints faced by economies in South America. However, factors such as supportive government policies and increased efforts to meet the growing power demand using clean energy sources are expected to drive the market over the projected period. For instance, in April 2022, Bunge signed a seven-year agreement with Pampa Energia to use wind-generated renewable electricity at its plants in Campana, Ramallo, San Jeronimo Sud, and at TFA in Puerto General San Martin, in Argentina. The agreement considers a future expansion of Parque de la Bahia, which will start to generate wind power in March 2023.
South America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
South America Wind Turbine Components Market Segmentation
The South America wind turbine components market is segmented into component and country.
Based on component, the South America wind turbine components market is segmented into rotor blade, nacelle, gearbox, generator, tower, and pitch system. The tower segment registered the largest market share in 2022.
Based on country, the South America wind turbine components market is segmented into Brazil, Argentina, and the Rest of South America. Brazil dominated the market share in 2022.
Flender International GmbH, GRI Renewable Industries SL, LM Wind Power AS, Siemens Gamesa Renewable Energy SA, The Timken Company, TPI Composites Inc, Valmont Industries Inc, Vestas Wind Systems AS, and ZF Friedrichshafen AG are the leading companies operating in the South America wind turbine components market.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South America wind turbine components market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the South America wind turbine components market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth South America market trends and outlook coupled with the factors driving the wind turbine components market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
Table Of Contents
1. Introduction
- 1.1 Scope of the Study
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
- 3.1 Coverage
- 3.2 Secondary Research
- 3.3 Primary Research
4. SAM Wind Turbine Components Market Landscape
- 4.1 Market Overview
- 4.2 SAM PEST Analysis
- 4.3 Ecosystem Analysis
- 4.4 Expert Opinion
5. SAM Wind Turbine Components Market - Key Market Dynamics
- 5.1 Market Drivers
- 5.1.1 Increasing Number of Product Launches
- 5.1.2 Rising Number of Wind Farms
- 5.2 Market Restraints
- 5.2.1 Overdependence on Wind Turbine Component Manufacturers
- 5.3 Market Opportunities
- 5.3.1 Growing Government Initiatives to Promote Wind Energy
- 5.4 Future Trends
- 5.4.1 Rising Demand for Floating Wind Technology
- 5.5 Impact Analysis of Drivers and Restraints
6. Wind Turbine Components Market - SAM Market Analysis
- 6.1 SAM Wind Turbine Components Market Overview
- 6.2 SAM Wind Turbine Components Market Forecast and Analysis
7. SAM Wind Turbine Components Market Revenue and Forecast to 2028 - Component
- 7.1 Overview
- 7.2 SAM Wind Turbine Components Market, By Component (2021 & 2028)
- 7.3 Rotor Blade
- 7.3.1 Overview
- 7.3.2 Rotor Blade: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.3.3 Below 40m
- 7.3.3.1 Overview
- 7.3.3.2 Below 40m: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.3.4m to 60m
- 7.3.4.1 Overview
- 7.3.4.2m to 60m: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.3.5m to 70m
- 7.3.5.1 Overview
- 7.3.5.2m to 70m: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.3.6 Above 70m
- 7.3.6.1 Overview
- 7.3.6.2 Above 70m: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.4 Nacelle
- 7.4.1 Overview
- 7.4.2 Nacelle: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.5 Gearbox
- 7.5.1 Overview
- 7.5.2 Gearbox: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.5.3 Planetary Gearbox
- 7.5.3.1 Overview
- 7.5.3.2 Planetary Gearbox: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.5.4 Spur Gearbox
- 7.5.4.1 Overview
- 7.5.4.2 Spur Gearbox: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.5.5 Others
- 7.5.5.1 Overview
- 7.5.5.2 Others: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.6 Generator
- 7.6.1 Overview
- 7.6.2 Generator: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.6.3 Direct Current
- 7.6.3.1 Overview
- 7.6.3.2 Direct Current: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.6.4 AC Synchronous
- 7.6.4.1 Overview
- 7.6.4.2 AC Synchronous: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.7 Tower
- 7.7.1 Overview
- 7.7.2 Tower: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.7.3 Tubular Steel Towers
- 7.7.3.1 Overview
- 7.7.3.2 Tubular Steel Towers: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.7.4 Lattice Towers
- 7.7.4.1 Overview
- 7.7.4.2 Lattice Towers: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.7.5 Hybrid Towers
- 7.7.5.1 Overview
- 7.7.5.2 Hybrid Towers: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
- 7.8 Pitch System
- 7.8.1 Overview
- 7.8.2 Pitch System: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
8. SAM Wind Turbine Components Market - Country Analysis
- 8.1 Overview
- 8.1.1 SAM: Wind Turbine Components Market, by Key Country
- 8.1.1.1 Brazil: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
- 8.1.1.1.1 Brazil: Wind Turbine Components Market, by Component
- 8.1.1.1.1.1 Brazil: Wind Turbine Components Market, by Rotor Blades
- 8.1.1.1.1.2 Brazil: Wind Turbine Components Market, by Gearbox
- 8.1.1.1.1.3 Brazil: Wind Turbine Components Market, by Generator
- 8.1.1.1.1.4 Brazil: Wind Turbine Components Market, by Tower
- 8.1.1.2 Argentina: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
- 8.1.1.2.1 Argentina: Wind Turbine Components Market, by Component
- 8.1.1.2.1.1 Argentina: Wind Turbine Components Market, by Rotor Blades
- 8.1.1.2.1.2 Argentina: Wind Turbine Components Market, by Gearbox
- 8.1.1.2.1.3 Argentina: Wind Turbine Components Market, by Generator
- 8.1.1.2.1.4 Argentina: Wind Turbine Components Market, by Tower
- 8.1.1.3 Rest of SAM: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
- 8.1.1.3.1 Rest of SAM: Wind Turbine Components Market, by Component
- 8.1.1.3.1.1 Rest of SAM: Wind Turbine Components Market, by Rotor Blades
- 8.1.1.3.1.2 Rest of SAM: Wind Turbine Components Market, by Gearbox
- 8.1.1.3.1.3 Rest of SAM: Wind Turbine Components Market, by Generator
- 8.1.1.3.1.4 Rest of SAM: Wind Turbine Components Market, by Tower
9. Industry Landscape
- 9.1 Overview
- 9.2 Market Initiative
- 9.3 New Product Development
- 9.4 Merger and Acquisition
10. Company Profiles
- 10.1 Siemens Gamesa Renewable Energy SA
- 10.1.1 Key Facts
- 10.1.2 Business Description
- 10.1.3 Products and Services
- 10.1.4 Financial Overview
- 10.1.5 SWOT Analysis
- 10.1.6 Key Developments
- 10.2 Vestas Wind Systems AS
- 10.2.1 Key Facts
- 10.2.2 Business Description
- 10.2.3 Products and Services
- 10.2.4 Financial Overview
- 10.2.5 SWOT Analysis
- 10.2.6 Key Developments
- 10.3 TPI Composites Inc
- 10.3.1 Key Facts
- 10.3.2 Business Description
- 10.3.3 Products and Services
- 10.3.4 Financial Overview
- 10.3.5 SWOT Analysis
- 10.3.6 Key Developments
- 10.4 GRI Renewable Industries SL
- 10.4.1 Key Facts
- 10.4.2 Business Description
- 10.4.3 Products and Services
- 10.4.4 Financial Overview
- 10.4.5 SWOT Analysis
- 10.4.6 Key Developments
- 10.5 Valmont Industries Inc
- 10.5.1 Key Facts
- 10.5.2 Business Description
- 10.5.3 Products and Services
- 10.5.4 Financial Overview
- 10.5.5 SWOT Analysis
- 10.5.6 Key Developments
- 10.6 LM Wind Power AS
- 10.6.1 Key Facts
- 10.6.2 Business Description
- 10.6.3 Products and Services
- 10.6.4 Financial Overview
- 10.6.5 SWOT Analysis
- 10.6.6 Key Developments
- 10.7 The Timken Company
- 10.7.1 Key Facts
- 10.7.2 Business Description
- 10.7.3 Products and Services
- 10.7.4 Financial Overview
- 10.7.5 SWOT Analysis
- 10.7.6 Key Developments
- 10.8 ZF Friedrichshafen AG
- 10.8.1 Key Facts
- 10.8.2 Business Description
- 10.8.3 Products and Services
- 10.8.4 Financial Overview
- 10.8.5 SWOT Analysis
- 10.8.6 Key Developments
- 10.9 Flender International GmbH
- 10.9.1 Key Facts
- 10.9.2 Business Description
- 10.9.3 Products and Services
- 10.9.4 Financial Overview
- 10.9.5 SWOT Analysis
- 10.9.6 Key Developments
11. Appendix
- 11.1 About The Insight Partners
- 11.2 Glossary