Latin America and the Caribbean: Wind Powered Generator Market 2024

Wind Powered Generator Market Size in Latin America and the Caribbean

The Latin American wind powered generator market dropped markedly to $X in 2021, shrinking by -66.4% against the previous year. Over the period under review, consumption, however, continues to indicate a slight reduction. Over the period under review, the market reached the maximum level at $X in 2020, and then shrank rapidly in the following year.

Wind Powered Generator Production in Latin America and the Caribbean

In value terms, wind powered generator production reduced modestly to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 2.4% against the previous year. The level of production peaked at $X in 2020, and then shrank modestly in the following year.

Wind Powered Generator Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of wind powered generating sets decreased by -21.6% to X units, falling for the second consecutive year after two years of growth. In general, exports, however, posted significant growth. The pace of growth was the most pronounced in 2018 with an increase of 10,464% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, wind powered generator exports shrank sharply to $X in 2021. Overall, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 2,980%. The level of export peaked at $X in 2020, and then dropped rapidly in the following year.

Exports by Country

In 2021, Mexico (X units) was the major exporter of wind powered generating sets, mixing up 71% of total exports. It was distantly followed by Brazil (X units), generating a 29% share of total exports.

Mexico was also the fastest-growing in terms of the wind powered generating sets exports, with a CAGR of +84.1% from 2012 to 2021. At the same time, Brazil (+65.3%) displayed positive paces of growth. From 2012 to 2021, the share of Mexico and Brazil increased by +54 and +10 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest wind powered generator supplier in Latin America and the Caribbean, comprising 98% of total exports. The second position in the ranking was taken by Mexico ($X), with a 1.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil stood at +82.5%.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, with a decrease of -25.6% against the previous year. Over the period under review, the export price, however, showed a buoyant expansion. The growth pace was the most rapid in 2017 an increase of 2,766%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while Mexico totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+10.2%).

Wind Powered Generator Imports

Imports in Latin America and the Caribbean

In 2021, purchases abroad of wind powered generating sets increased by 28% to X units, rising for the third year in a row after two years of decline. Overall, imports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 89% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, wind powered generator imports shrank to $X in 2021. In general, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 92%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Mexico (X units) represented the main importer of wind powered generating sets, generating 59% of total imports. It was distantly followed by Honduras (X units) and Peru (X units), together making up a 35% share of total imports. Argentina (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to wind powered generator imports into Mexico stood at +11.2%. At the same time, Peru (+161.9%), Honduras (+84.3%) and Argentina (+45.1%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +161.9% from 2012-2021. From 2012 to 2021, the share of Mexico, Honduras, Peru and Argentina increased by +48, +19, +16 and +3.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported wind powered generating sets in Latin America and the Caribbean, comprising 23% of total imports. The second position in the ranking was held by Argentina ($X), with a 2.1% share of total imports. It was followed by Honduras, with a 0.9% share.

In Mexico, wind powered generator imports contracted by an average annual rate of -1.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Argentina (+71.6% per year) and Honduras (+92.8% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, shrinking by -25.2% against the previous year. Over the period under review, the import price, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2013 an increase of 727%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per unit), while Peru ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+18.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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