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Wind Energy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

January 2023 | 147 pages | ID: W5CC339001C1EN
IMARC Group

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The global wind energy market size reached US$ 83.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 136.1 Billion by 2028, exhibiting a growth rate (CAGR) of 7.76% during 2023-2028.

Wind energy is a clean and renewable energy source utilized for generating electricity through a wind turbine that converts kinetic energy into mechanical energy. It does not impact the environment like fossil fuels and other conventional energy resources that rely on combustion and emit nitrogen oxide (NO) and sulfur dioxide (SO2). Besides this, as it is sustainable, cost-effective and readily available, wind energy finds extensive applications in the commercial, industrial, and residential sectors worldwide.

Wind Energy Market Trends:
There is currently a considerable increase in the adoption of renewable energy sources on account of rising environmental concerns and stringent regulations imposed by governments of various countries. This, in confluence with the surging consumption of energy due to rapid urbanization and significant reliance on electronics, represents one of the key factors impelling the growth of the market. Moreover, wind acts as a convenient resource for generating energy in remote locations wherein conventional power lines cannot be extended. It can also help stabilize the cost of electricity and reduce supply disruptions. Apart from this, improvements in the performance and reduction in the prices of wind power technologies are driving the utilization of wind energy. In addition, the rising need for wind energy is offering numerous long-term employment opportunities in wind turbine component manufacturing, construction and installation, maintenance and operations, legal and marketing services, and transportation and logistics. Besides this, large wind turbines are increasingly being installed in power distribution networks around the world. This, coupled with the rising number of onshore and offshore wind farms, is propelling the market growth. The growing investments in upcoming wind power projects are anticipated to influence the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global wind energy market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, rating, installation, turbine type and application.

Breakup by Component:

Turbine
Support Structure
Electrical Infrastructure
Others

Breakup by Rating:

? 2 MW
>2 ? 5 MW
>5 ? 8 MW
>8 ? 10 MW
>10 ? 12 MW
>12 MW

Breakup by Installation:

Offshore
Onshore

Breakup by Turbine Type:

Horizontal Axis
Vertical Axis

Breakup by Application:

Utility
Industrial
Commercial
Residential

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Ameren Corporation, Avangrid, Inc. (Iberdrola S.A), Dnv (Det Norske Veritas group), Enercon GmbH, General Electric Company, Goldwind, NextEra Energy Resources, LLC, Nordex SE, Siemens AG, Vestas Wind Systems A/S, Wind World (India) Limited and Xcel Energy Inc.

Key Questions Answered in This Report:
How has the global wind energy market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global wind energy market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the rating?
What is the breakup of the market based on the installation?
What is the breakup of the market based on the turbine type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global wind energy market and who are the key players?
What is the degree of competition in the industry?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL WIND ENERGY MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY COMPONENT

6.1 Turbine
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Support Structure
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Electrical Infrastructure
  6.3.1 Market Trends
  6.3.2 Market Forecast
6.4 Others
  6.4.1 Market Trends
  6.4.2 Market Forecast

7 MARKET BREAKUP BY RATING

7.1 ? 2 MW
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 >2 ? 5 MW
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 >5 ? 8 MW
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4 >8 ? 10 MW
  7.4.1 Market Trends
  7.4.2 Market Forecast
7.5 >10 ? 12 MW
  7.5.1 Market Trends
  7.5.2 Market Forecast
7.6 > 12 MW
  7.6.1 Market Trends
  7.6.2 Market Forecast

8 MARKET BREAKUP BY INSTALLATION

8.1 Offshore
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Onshore
  8.2.1 Market Trends
  8.2.2 Market Forecast

9 MARKET BREAKUP BY TURBINE TYPE

9.1 Horizontal Axis
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Vertical Axis
  9.2.1 Market Trends
  9.2.2 Market Forecast

10 MARKET BREAKUP BY APPLICATION

10.1 Utility
  10.1.1 Market Trends
  10.1.2 Market Forecast
10.2 Industrial
  10.2.1 Market Trends
  10.2.2 Market Forecast
10.3 Commercial
  10.3.1 Market Trends
  10.3.2 Market Forecast
10.4 Residential
  10.4.1 Market Trends
  10.4.2 Market Forecast

11 MARKET BREAKUP BY REGION

11.1 North America
  11.1.1 United States
    11.1.1.1 Market Trends
    11.1.1.2 Market Forecast
  11.1.2 Canada
    11.1.2.1 Market Trends
    11.1.2.2 Market Forecast
11.2 Asia-Pacific
  11.2.1 China
    11.2.1.1 Market Trends
    11.2.1.2 Market Forecast
  11.2.2 Japan
    11.2.2.1 Market Trends
    11.2.2.2 Market Forecast
  11.2.3 India
    11.2.3.1 Market Trends
    11.2.3.2 Market Forecast
  11.2.4 South Korea
    11.2.4.1 Market Trends
    11.2.4.2 Market Forecast
  11.2.5 Australia
    11.2.5.1 Market Trends
    11.2.5.2 Market Forecast
  11.2.6 Indonesia
    11.2.6.1 Market Trends
    11.2.6.2 Market Forecast
  11.2.7 Others
    11.2.7.1 Market Trends
    11.2.7.2 Market Forecast
11.3 Europe
  11.3.1 Germany
    11.3.1.1 Market Trends
    11.3.1.2 Market Forecast
  11.3.2 France
    11.3.2.1 Market Trends
    11.3.2.2 Market Forecast
  11.3.3 United Kingdom
    11.3.3.1 Market Trends
    11.3.3.2 Market Forecast
  11.3.4 Italy
    11.3.4.1 Market Trends
    11.3.4.2 Market Forecast
  11.3.5 Spain
    11.3.5.1 Market Trends
    11.3.5.2 Market Forecast
  11.3.6 Russia
    11.3.6.1 Market Trends
    11.3.6.2 Market Forecast
  11.3.7 Others
    11.3.7.1 Market Trends
    11.3.7.2 Market Forecast
11.4 Latin America
  11.4.1 Brazil
    11.4.1.1 Market Trends
    11.4.1.2 Market Forecast
  11.4.2 Mexico
    11.4.2.1 Market Trends
    11.4.2.2 Market Forecast
  11.4.3 Others
    11.4.3.1 Market Trends
    11.4.3.2 Market Forecast
11.5 Middle East and Africa
  11.5.1 Market Trends
  11.5.2 Market Breakup by Country
  11.5.3 Market Forecast

12 SWOT ANALYSIS

12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats

13 VALUE CHAIN ANALYSIS

14 PORTERS FIVE FORCES ANALYSIS

14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes

15 PRICE ANALYSIS

16 COMPETITIVE LANDSCAPE

16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
  16.3.1 ABB Ltd.
    16.3.1.1 Company Overview
    16.3.1.2 Product Portfolio
    16.3.1.3 Financials
    16.3.1.4 SWOT Analysis
  16.3.2 Ameren Corporation
    16.3.2.1 Company Overview
    16.3.2.2 Product Portfolio
    16.3.2.3 Financials
    16.3.2.4 SWOT Analysis
  16.3.3 Avangrid Inc. (Iberdrola S.A)
    16.3.3.1 Company Overview
    16.3.3.2 Product Portfolio
    16.3.3.3 Financials
  16.3.4 Dnv (Det Norske Veritas group)
    16.3.4.1 Company Overview
    16.3.4.2 Product Portfolio
  16.3.5 Enercon GmbH
    16.3.5.1 Company Overview
    16.3.5.2 Product Portfolio
    16.3.5.3 SWOT Analysis
  16.3.6 General Electric Company
    16.3.6.1 Company Overview
    16.3.6.2 Product Portfolio
    16.3.6.3 Financials
    16.3.6.4 SWOT Analysis
  16.3.7 Goldwind
    16.3.7.1 Company Overview
    16.3.7.2 Product Portfolio
  16.3.8 NextEra Energy Resources LLC
    16.3.8.1 Company Overview
    16.3.8.2 Product Portfolio
    16.3.8.3 Financials
    16.3.8.4 SWOT Analysis
  16.3.9 Nordex SE
    16.3.9.1 Company Overview
    16.3.9.2 Product Portfolio
    16.3.9.3 Financials
    16.3.9.4 SWOT Analysis
  16.3.10 Siemens AG
    16.3.10.1 Company Overview
    16.3.10.2 Product Portfolio
    16.3.10.3 Financials
    16.3.10.4 SWOT Analysis
  16.3.11 Vestas Wind Systems A/S
    16.3.11.1 Company Overview
    16.3.11.2 Product Portfolio
    16.3.11.3 Financials
    16.3.11.4 SWOT Analysis
  16.3.12 Wind World (India) Limited
    16.3.12.1 Company Overview
    16.3.12.2 Product Portfolio
  16.3.13 Xcel Energy Inc.
    16.3.13.1 Company Overview
    16.3.13.2 Product Portfolio
    16.3.13.3 Financials
    16.3.13.4 SWOT Analysis

LIST OF TABLES

Table 1: Global: Wind Energy Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Wind Energy Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 3: Global: Wind Energy Market Forecast: Breakup by Rating (in Million US$), 2023-2028
Table 4: Global: Wind Energy Market Forecast: Breakup by Installation (in Million US$), 2023-2028
Table 5: Global: Wind Energy Market Forecast: Breakup by Turbine Type (in Million US$), 2023-2028
Table 6: Global: Wind Energy Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 7: Global: Wind Energy Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 8: Global: Wind Energy Market: Competitive Structure
Table 9: Global: Wind Energy Market: Key Players

LIST OF FIGURES

Figure 1: Global: Wind Energy Market: Major Drivers and Challenges
Figure 2: Global: Wind Energy Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Wind Energy Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Wind Energy Market: Breakup by Component (in %), 2022
Figure 5: Global: Wind Energy Market: Breakup by Rating (in %), 2022
Figure 6: Global: Wind Energy Market: Breakup by Installation (in %), 2022
Figure 7: Global: Wind Energy Market: Breakup by Turbine Type (in %), 2022
Figure 8: Global: Wind Energy Market: Breakup by Application (in %), 2022
Figure 9: Global: Wind Energy Market: Breakup by Region (in %), 2022
Figure 10: Global: Wind Energy (Turbine) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Wind Energy (Turbine) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Wind Energy (Support Structure) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Wind Energy (Support Structure) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Wind Energy (Electrical Infrastructure) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Wind Energy (Electrical Infrastructure) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Wind Energy (Other Components) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Wind Energy (Other Components) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Wind Energy (? 2 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Wind Energy (? 2 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Wind Energy (>2 ? 5 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Wind Energy (>2 ? 5 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Wind Energy (>5 ? 8 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Wind Energy (>5 ? 8 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Wind Energy (>8 ? 10 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Wind Energy (>8 ? 10 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Wind Energy (>10 ? 12 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Wind Energy (>10 ? 12 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Wind Energy (> 12 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Wind Energy (> 12 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Global: Wind Energy (Offshore) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Global: Wind Energy (Offshore) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Global: Wind Energy (Onshore) Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Global: Wind Energy (Onshore) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Global: Wind Energy (Horizontal Axis) Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Global: Wind Energy (Horizontal Axis) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Global: Wind Energy (Vertical Axis) Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Global: Wind Energy (Vertical Axis) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Global: Wind Energy (Utility) Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Global: Wind Energy (Utility) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Global: Wind Energy (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Global: Wind Energy (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Global: Wind Energy (Commercial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Global: Wind Energy (Commercial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Global: Wind Energy (Residential) Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Global: Wind Energy (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: North America: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: North America: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: United States: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: United States: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Canada: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Canada: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Asia-Pacific: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Asia-Pacific: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: China: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: China: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Japan: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Japan: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: India: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: India: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: South Korea: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: South Korea: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Australia: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Australia: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Indonesia: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Indonesia: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Others: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Others: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Europe: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Europe: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Germany: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Germany: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: France: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: France: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: United Kingdom: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: United Kingdom: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Italy: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Italy: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 78: Spain: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 79: Spain: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 80: Russia: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 81: Russia: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 82: Others: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 83: Others: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 84: Latin America: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 85: Latin America: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 86: Brazil: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 87: Brazil: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 88: Mexico: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 89: Mexico: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 90: Others: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 91: Others: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 92: Middle East and Africa: Wind Energy Market: Sales Value (in Million US$), 2017 & 2022
Figure 93: Middle East and Africa: Wind Energy Market: Breakup by Country (in %), 2022
Figure 94: Middle East and Africa: Wind Energy Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 95: Global: Wind Energy Industry: SWOT Analysis
Figure 96: Global: Wind Energy Industry: Value Chain Analysis
Figure 97: Global: Wind Energy Industry: Porter's Five Forces Analysis


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