The Mexico wind energy market size is expected to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to increasing installation of wind energy systems and rising depletion of fossil fuels.
Wind is use to generate electricity using the kinetic energy created by air in motion. The kinetic energy is converted into electric energy using wind energy conversion system and wind turbine. Wind hits the blades of turbine, which help them to rotate and transfer to the turbine connected to them. Turbine changes kinetic energy to rotational energy, with help of moving shaft, which is connected to the generator. Further, electrical energy is generated with help of electromagnetism.
The amount of power produce from wind depends on the length of its blades and size of the turbine. The power of output directly depend on the dimensions of motor and on the cube of wind speed, which means if speed of wind get doubled, the wind power is also increased drastically. The capacity of wind turbine is increased over the time.
Many parts of world have strong wind speed, but the best location for producing wind energy is the remote ones. Offshore wind power offers significant ability to generate energy. Wind energy cannot be dispatch on demand as wind doesn’t have the constant flowability. Power management techniques such as transmitting power sources, geographically distributed turbines, exporting and importing power to neighboring areas, and grid storage are used to overcome problems.
Offshore wind is stronger and steadier than on land. However, the maintenance and construction costs are higher than onshore wind systems. 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. Generally, spacing of wind turbine depends on the local wind conditions and the rotor diameter. It is usually between 5m to 10m in diameter. However, if wind direction is in the same direction, it is between 3m and 4 diameters, and for multi-directional wind, the turbine diameter is between 5m and 7m.
Market Trends, Drivers, Restraints, and Opportunities
- Growing demand for unlimited and renewable source of energy is anticipated to drive the market growth.
- Cost-effectiveness of wind power energy is estimated to spur the growth of the market.
- High noise pollution can hinder the market growth.
- Blades of wind turbine are large and rotate at very high speed which can kill or harm the flying species. Thus, the opposition from environmental groups can create challenges for the growth of the market in the projected timeline.
- Increasing energy demand due to power crisis and rising investment of power companies are estimated to create lucrative opportunities during the forecast period.
Scope of the Report
The report on the Mexico 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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Mexico Wind Energy Market - 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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Mexico
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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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General Electric Company; Vestas Wind Systems; Siemens Gamesa Renewable Energy, S.A.; EDF Renewables Inc.; and Acciona SA
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Mexico Wind Energy Market Segment Insights
Onshore segment is expected to grow at a rapid pace
On the basis of location of deployments, the market is bifurcated into offshore and onshore. The onshore segment is expected to constitute a key share of the market during the projected period due to its cost-effectiveness. Onshore wind is inexpensive source of electric power as compared to the conventional coal or gas plants. Onshore wind farms have greater visual impact on land then other power stations. Increasing number of wind farms in rural areas is expected to drive the rapid industrialization, driving the growth of the market segment. Small onshore wind farms can feed some energy into grid to provide power to isolated off-grid locations. Thus, such factors are anticipated to proliferate the growth of the market segment.
Segments
The Mexico wind energy segmented on the basis of:
Location of Deployments
Country
Key Players
- General Electric Company
- Vestas Wind Systems
- Siemens Gamesa Renewable Energy, S.A.
- EDF Renewables Inc.
- Acciona SA
Competitive Landscape
The key players competing in the Mexico wind energy market are General Electric Company; Vestas Wind Systems; Siemens Gamesa Renewable Energy, S.A.; EDF Renewables Inc.; and Acciona SA.
Companies are engaging in partnerships with government state bodies to expand their market share.
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