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firms almost ent irely serve their home markets. Figure 9: Wind turbine nacelle maker market share by country of domicile Source: BloombergNEF 1 5 5 5 5 1 9 1 5 1 1 1 6 7 7 9 4 4 4 9 3 9 9 1 1 2 2 2 2 2 2 2 2 2 2 2 2 2GW Others Spain Argentina Portugal Brazil Denmark Germany India United States China 4% 4%4%3%4%4%1%1%1% 1%2%1%1%1%1%1%1%1%1%1%1% 1%1% 6%1%1%1% 9%1% 1% 2 2 2 2 2 2Others India United States Germany Spain Denmark China Wind Trade And Manufacturing February 2 Bloomberg Finance .. 2 No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance .. For more information on terms of use, please contact sales.bnef Siemens Flender bloomberg.net. Copyright and Disclaimer notice on page 2 applies thro ughout. 8 Some 9 wind turbine nacelle factories are located in China, accounting for 6% of the global total (Figure . Nine more are under development to keep up with demand for large -scale projects in the northern part of the country and an emerging offshore wind market. Assembling wind turbine nacelles is the last step in the manufa cturing process before the equipment is shipped to sites for installation. To cut transportation costs, nacelle factories are often located close to major demand centers. Countries with many factories either have strong local demand or are home to multiple turbine makers. Local -content requirements have also played big role. In Brazil, for instance, developers seeking cut -rate financing from Brazils National Development Bank (BNDES) must agree to use locally sourced equipment. This domestic -content rule as instrumental in the build -out of wind supply chain in Brazil. Figure 1: Commissioned wind turbine nacelle factor ies Source: BloombergNEF Chinas unconsolidated wind market The massive volume of nacelle manufacturing capacity in China illustrat