South America Wind Turbine Market: Market Size & Forecast 2026

The Latin America wind turbine market encompasses the design, manufacture, installation, and operation of onshore and offshore wind energy systems across the region. The South America segment alone was valued at USD 8.90 billion in 2025 and is expected to grow to USD 9.76 billion in 2026, with long-term projections indicating continued expansion. At the regional level, installed wind capacity reached approximately 9.6 gigawatts across Latin America in 2025, with some forecasts projecting growth to over 240 gigawatts by 2034, reflecting the massive pipeline of planned developments.

• •South America wind turbine market valued at USD 8.90 billion in 2025, growing to USD 9.76 billion in 2026
• •Latin America wind turbine market was valued at USD 5.21 billion in 2024, with projections reaching USD 7.42 billion by 2032 at a 4.5% CAGR
• •Installed wind capacity in Latin America reached approximately 9.6 gigawatts in 2025, with long-term forecasts projecting 240.5 gigawatts by 2034
• •The global wind turbine market is valued at USD 161.83 billion in 2025, with the South America segment representing a growing share

Government policies and renewable energy targets across South American nations are the primary catalyst for market expansion, with countries implementing auction schemes and regulatory frameworks to attract wind investment. Brazil's northeast region offers world-class wind resources with high capacity factors, making wind energy increasingly cost-competitive against fossil fuel alternatives. Declining levelized costs of energy from wind technology, combined with growing corporate procurement of renewable power through power purchase agreements, continue to accelerate project development across the region.

• •Brazil leads regional capacity additions, with wind representing a significant and growing share of its electricity generation mix
• •Chile, Argentina, and Colombia are expanding their wind portfolios through competitive auctions and international financing partnerships
• •Corporate renewable energy procurement and long-term power purchase agreements are driving new project development

Brazil is the dominant market in South America, accounting for the overwhelming majority of installed wind capacity and hosting the majority of ongoing project activity, with its northeastern states offering exceptional wind speeds and sustained generation profiles. Onshore wind technology accounts for the large majority of installed and planned capacity, with most projects utilizing horizontal-axis turbines rated between 2 MW and 5 MW. Chile and Argentina represent the second and third largest national markets, each with distinct resource profiles and policy environments, while Colombia and Uruguay have established smaller but growing wind footprints.

• •Brazil dominates the regional wind sector, with the northeast corridor offering world-class wind resources and highest capacity factors in the region
• •Onshore wind technology constitutes the vast majority of installed and planned capacity, with limited offshore development activity to date
• •Chile and Argentina are the next-largest national markets, with expanding auction programs and growing private investment

What are the recent trends and outlook?

The Latin America wind sector is positioned for significant capacity additions through the 2030s, driven by national decarbonization targets, grid modernization efforts, and continued cost competitiveness relative to conventional generation. Hybrid renewable projects combining wind, solar, and battery storage are emerging as a preferred development model, improving grid stability and project economics. Long-term forecasts suggest Latin America could reach hundreds of gigawatts of cumulative wind capacity by mid-century, with Brazil remaining the primary growth engine while secondary markets across the continent mature.

• •Hybrid wind-solar-storage projects are gaining traction as a preferred development approach to address grid intermittency challenges
• •Grid infrastructure investment and transmission expansion remain critical enablers for unlocking further wind capacity in remote high-resource areas
• •Brazil's continued dominance is expected, with secondary markets in Chile, Argentina, and Colombia accelerating deployment as policy frameworks stabilize