Mexico Wind Energy Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 4.30% (2024-2032)

The commitment of the country to expanding its renewable energy capacity as well as lowering its reliance on fossil fuels are the factors responsible for the growth of the Mexico wind energy market. According to the latest report by IMARC Group, The Mexico wind energy market size reached 21.4 GWh in 2023. Looking forward, IMARC Group expects the market to reach 32.08 GWh by 2032, exhibiting a growth rate (CAGR) of 4.30% during 2024-2032. 

Mexico Wind Energy Industry Trends and Drivers:

Mexico has become one of the leading wind energy producers in Latin America, with favorable wind conditions in regions such as Oaxaca and Baja California. The push by government authorities towards renewable energy, reinforced by policies like the Energy Transition Law, aims to raise the portion of the renewable energy mix, with wind power playing a crucial role. Moreover, foreign investments and public-private partnerships are boosting the development of new wind projects, which is further propelling market growth. Wind energy is becoming increasingly cost-competitive, providing an attractive alternative to traditional energy sources. 

The technological advancements in wind turbine design and efficiency, which are enabling the generation of more power at lower costs, are augmenting the Mexico wind energy market. In addition to this, larger and more efficient turbines are being deployed, increasing the capacity of wind farms, and enhancing the overall output of energy. Furthermore, the use of energy storage solutions, such as batteries, is improving the reliability of wind energy by addressing the issue of intermittency. The focus by government authorities on decentralizing energy production and promoting energy security is also driving the adoption of wind energy in more regions across the country. The continued priority of sustainable development and clean energy is anticipated to drive the Mexico wind energy market over the forecasted period, driven by technological innovations, supportive regulatory frameworks, and growing investment in renewable infrastructure.

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Mexico Wind Energy Industry Segmentation:

The report has segmented the market into the following categories:

Component Insights:

1. Turbine

2. Support Structure

3. Electrical Infrastructure

4. Others

Rating Insights:

1. ≤ 2 MW

2. >2 ≤ 5 MW

3. >5 ≤ 8 MW

4. >8 ≤ 10 MW

5. >10 ≤ 12 MW

6. >12 MW

Installation Insights:

1. Offshore

2. Onshore

Turbine Type Insights:

1. Horizontal Axis

2. Vertical Axis

Application Insights:

1. Utility

2. Industrial

3. Commercial

4. Residential

Regional Insights:

1. Northern States

2. Central States

3. Southern States

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key highlights of the Report:

1. Market Performance (2018-2023)

2. Market Outlook (2024-2032)

3. COVID-19 Impact on the Market

4. Porter’s Five Forces Analysis

5. Strategic Recommendations

6. Historical, Current and Future Market Trends

7. Market Drivers and Success Factors

8. SWOT Analysis

9. Structure of the Market

10. Value Chain Analysis

11. Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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