Brazil Wind Energy Market Outlook 2031
The Brazil wind energy market size was valued at USD XX Billion in 2022 and is projected to reach USD XX Billion by 2031, expanding at a CAGR of 9.57% during the forecast period 2023 - 2031. The growth of the market is attributed to increasing demand for renewable energy and growing investment in wind power sector.
When wind flows across the blades, the pressure on one side of blade decreases. The increase and decrease of air pressure along the two side of blade create both drag and lift. The lift force is stronger than the drag force, which causes the rotor to spin. The rotor is connected to the generator directly through shaft and series of gearbox. The transmission of aerodynamic force to the rotation of generator creates electricity.
The amount of land required for wind energy system depends on the factor such as characteristics of local ground and the desired size of the wind farm. Offshore wind is stronger and steadier than on land. However, the maintenance and construction costs are higher than onshore wind systems. Generally, spacing of wind turbine depends on the local wind conditions and the rotor diameter.
As per the data published on REVE, around 635 wind farms and 7,738 wind turbines are built in Brazil. According to data published in June 2020 by the Brazilian Wind Energy Association, the installed capacity is about 16 GW. The National Energy Plan 2050 expects it to reach between 110 GW and 195 GW in the coming decades.
Brazil Wind Energy Market Trends, Drivers, Restraints, and Opportunities
- Favorable government policies and increasing investment in renewable sources of energy is anticipated to drive the market growth.
- Increasing focus on environmental sustainability across the region is estimated to spur the growth of the market.
- The COVID-19 outbreak hampered the growth of the market owing to supply chain disruption. However, the relaxation in restriction in international trade is stimulating the Brazil wind energy market growth.
- High noise pollution and lack of large-size land can hinder the Brazil wind energy market growth.
- Rising prices of electricity is also driving the demand for alternative source of energy Thus; this factor is expected to proliferate the growth of the market during the forecast period.
- Wind energy can create lucrative opportunities in value chain such as repair, maintenance, and installation.
Scope of Brazil Wind Energy Market Report
The report on the Brazil wind energy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Wind Energy Market - Brazil Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Location of Deployments (Offshore and Onshore)
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Country
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Brazil
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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ABB Ltd.; Nordex SE; Siemens Gamesa Renewable Energy, S.A.; Neoenergia SA.; and Vestas Wind Systems A/S
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Brazil Wind Energy Market Segment Insights
Onshore segment is anticipated to constitute a key market share
Based on location of deployments, the Brazil wind energy market share is bifurcated into offshore and onshore. The onshore segment is expected to constitute a key share of the market during the projected period.
The cost-effectiveness to build wind energy systems on land than offshore locations is driving the segment growth. However, the offshore segment is expected to grow at a robust rate owing to technological advancements in the sector.
Companies are able to install large wind energy turbines due to improvement in material, which is used in manufacturing of wind turbine material. This helps rotors to make use of higher altitude winds. Turbine have large size of blades, which provides them the ability to collect more area then smaller size turbines. Increasing size of turbine help to lower the cost of wind energy is driving the market growth.
Various major companies and countries are looking toward the adoption of renewable source of energy. It has ability to produce large amount of clean form of energy. Improvement in technologies has attracted the companies to invest high amount in technologies.
Segments
The Brazil wind energy segmented on the basis of:
Location of Deployments
Country
Key Players
Competitive Landscape
The key players competing in the Brazil wind energy market are ABB Ltd.; Nordex SE; Siemens Gamesa Renewable Energy, S.A.; Neoenergia SA.; and Vestas Wind Systems A/S.
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