Wind Power Generation Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Deployment Type (Onshore and Offshore), Power Capacity (Less than 10 MW and Above 10 MW), End User (Residential, Commercial, and Industrial), and Geography
The global wind power generation market size was valued at US$ 127.3 billion in 2022 and is projected to reach US$ 247.2 billion by 2030. The wind power generation market is estimated to record a CAGR of 8.6% from 2022 to 2030.
The wind power generation market plays a pivotal role in the global energy landscape, contributing significantly to the generation of clean and renewable electricity. Wind power, derived from the kinetic energy of wind, has been harnessed for more than a century, and modern wind power projects have evolved to become highly efficient and environmentally friendly sources of power.
One of the key advantages of wind power is its sustainability and low environmental impact compared to fossil fuel-based energy sources. Based on deployment type, the Wind wind power plants can be categorized into various types, including onshore and offshore wind power plants. The onshore segment accounted for the largest wind power generation market share owing to its cheapnesslow cost , which will further fuel the segment's growth over the coming years. Moreover, the offshore segment is projected to grow at a faster pace during the forecast period. As per the European Wind Energy Association, the United KingdomUK has the highest installed capacity in Europe, with a total of 44% of all offshore wind energy installations (in MW). It is followed by Germany (34%), Denmark (7%), Belgium (6.4%), and Holland (6%). Thus, the increasing deployment of offshore wind farms is propelling the growth of the wind power generation market over the coming years. In addition, according to the Floating Offshore Wind Centre of Excellence report, it has identified 22 countries that are most ready to become major players in the nascent renewable energy technology. In January 2022, The the UK government announced 11 successful projects that will each be awarded up to US$ 959.23 million as it puts forward US$ 2.97 billion to boost the renewable energy generated in the UK. In addition, in April 2022, Technip Energies was selected by Equinor to perform a front-end engineering design (FEED) for the offshore floating wind Firefly project, which is located on the East Coast of South Korea.
However, tThe wind energy plant majorly comprises large metal components such as towers, nacelles, and rotor blades that account for around 80% of the cost of a typical turbine. The initial installation cost of offshore wind turbines, which includes multiple mooring lines and anchors, can be expensive. The availability of land for the installation of wind power turbines is restricted by numerous factors, such as technical, social, economic, and environmental factors. Hence, favorable land for installing the wind power plant is costlier and involves various regulatory compliances, which adds to the installation cost of the plant. The high cost of components adds to the capital cost of the wind power plant. Hence, high capital costs are expected to restraint the wind power generation market growth over the coming years.
Asia Pacific is the leading region in the wind power generation market owing to favorable government policies, increasing investment in wind energy projects, and the reduced cost of wind energy, which led to increased adoption of wind energy. Countries such as China, India, and Japan are the dominating countries holding a large portion of the wind power generation market share, which is expected to increase in the coming years. China dominated the wind power generation market and remained the largest onshore market with 21.2 GW of new capacity additions. The supportive government policies and incentives made China a favorable hotspot for investment, and therefore, the wind power generation market is expected to flourish in the coming years. As per the Global Wind Energy Council (GWEC) report, Asia Pacific is set to become a leader in offshore wind, with its share in the global offshore wind market expected to grow from 24% in 2019 to 42% by 2025. The GWEC report had expectedestimates state that the global wind energy sector to will grow significantly from 2022 to 2025, with a CAGR of 3.5% and annual added capacity to reach 110.6 GW by 2025. Hence, the rise in the installation of wind power in the region is expected to drive the wind power generation market in Asia Pacific growth from 2022 to 2030.
The global wind power generation market report is segmented based onon the basis of deployment type, end- user, power capacity, and geography. Based on deployment type, the wind power generation market is segmented into onshore and offshore. On the basis of power capacity, the wind power generation market is segmented into less than 10 MW and Aabove 10 MW. In terms of end -users, the wind power generation market analysis is segmented into residential, commercial, and industrial. In terms of geography, the global wind power generation market report is segmented into into five major regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).
Siemens Gamesa Renewable Energy SA, General Electric, Mitsubishi Heavy Industries, Vestas Wind Systems, Renewable Energy Systems Americas, EDP Renewables, Orsted A/S, NextEra Energy, Inc., EDF S.A., and Suzlon Energy Limited are among the key players that are profiled in this wind power generation market analysisstudy.
The overall wind power generation market forecast has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the wind power generation market size size . The process also helps obtain an overview and of the wind power generation market forecast with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the wind power generation market.
The wind power generation market plays a pivotal role in the global energy landscape, contributing significantly to the generation of clean and renewable electricity. Wind power, derived from the kinetic energy of wind, has been harnessed for more than a century, and modern wind power projects have evolved to become highly efficient and environmentally friendly sources of power.
One of the key advantages of wind power is its sustainability and low environmental impact compared to fossil fuel-based energy sources. Based on deployment type, the Wind wind power plants can be categorized into various types, including onshore and offshore wind power plants. The onshore segment accounted for the largest wind power generation market share owing to its cheapnesslow cost , which will further fuel the segment's growth over the coming years. Moreover, the offshore segment is projected to grow at a faster pace during the forecast period. As per the European Wind Energy Association, the United KingdomUK has the highest installed capacity in Europe, with a total of 44% of all offshore wind energy installations (in MW). It is followed by Germany (34%), Denmark (7%), Belgium (6.4%), and Holland (6%). Thus, the increasing deployment of offshore wind farms is propelling the growth of the wind power generation market over the coming years. In addition, according to the Floating Offshore Wind Centre of Excellence report, it has identified 22 countries that are most ready to become major players in the nascent renewable energy technology. In January 2022, The the UK government announced 11 successful projects that will each be awarded up to US$ 959.23 million as it puts forward US$ 2.97 billion to boost the renewable energy generated in the UK. In addition, in April 2022, Technip Energies was selected by Equinor to perform a front-end engineering design (FEED) for the offshore floating wind Firefly project, which is located on the East Coast of South Korea.
However, tThe wind energy plant majorly comprises large metal components such as towers, nacelles, and rotor blades that account for around 80% of the cost of a typical turbine. The initial installation cost of offshore wind turbines, which includes multiple mooring lines and anchors, can be expensive. The availability of land for the installation of wind power turbines is restricted by numerous factors, such as technical, social, economic, and environmental factors. Hence, favorable land for installing the wind power plant is costlier and involves various regulatory compliances, which adds to the installation cost of the plant. The high cost of components adds to the capital cost of the wind power plant. Hence, high capital costs are expected to restraint the wind power generation market growth over the coming years.
Asia Pacific is the leading region in the wind power generation market owing to favorable government policies, increasing investment in wind energy projects, and the reduced cost of wind energy, which led to increased adoption of wind energy. Countries such as China, India, and Japan are the dominating countries holding a large portion of the wind power generation market share, which is expected to increase in the coming years. China dominated the wind power generation market and remained the largest onshore market with 21.2 GW of new capacity additions. The supportive government policies and incentives made China a favorable hotspot for investment, and therefore, the wind power generation market is expected to flourish in the coming years. As per the Global Wind Energy Council (GWEC) report, Asia Pacific is set to become a leader in offshore wind, with its share in the global offshore wind market expected to grow from 24% in 2019 to 42% by 2025. The GWEC report had expectedestimates state that the global wind energy sector to will grow significantly from 2022 to 2025, with a CAGR of 3.5% and annual added capacity to reach 110.6 GW by 2025. Hence, the rise in the installation of wind power in the region is expected to drive the wind power generation market in Asia Pacific growth from 2022 to 2030.
The global wind power generation market report is segmented based onon the basis of deployment type, end- user, power capacity, and geography. Based on deployment type, the wind power generation market is segmented into onshore and offshore. On the basis of power capacity, the wind power generation market is segmented into less than 10 MW and Aabove 10 MW. In terms of end -users, the wind power generation market analysis is segmented into residential, commercial, and industrial. In terms of geography, the global wind power generation market report is segmented into into five major regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).
Siemens Gamesa Renewable Energy SA, General Electric, Mitsubishi Heavy Industries, Vestas Wind Systems, Renewable Energy Systems Americas, EDP Renewables, Orsted A/S, NextEra Energy, Inc., EDF S.A., and Suzlon Energy Limited are among the key players that are profiled in this wind power generation market analysisstudy.
The overall wind power generation market forecast has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the wind power generation market size size . The process also helps obtain an overview and of the wind power generation market forecast with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the wind power generation market.
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. EXECUTIVE SUMMARY
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. RESEARCH METHODOLOGY
4. WIND POWER GENERATION MARKET LANDSCAPE
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. WIND POWER GENERATION MARKET - KEY MARKET DYNAMICS
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. WIND POWER GENERATION MARKET - GLOBAL MARKET ANALYSIS
6.1 Wind Power Generation - Global Market Overview
6.2 Wind Power Generation - Global Market and Forecast to 2031
7. WIND POWER GENERATION MARKET – REVENUE ANALYSIS (USD MILLION) – BY DEPLOYMENT TYPE, 2021-2031
7.1 Overview
7.2 Onshore
7.3 Offshore
8. WIND POWER GENERATION MARKET – REVENUE ANALYSIS (USD MILLION) – BY POWER CAPACITY, 2021-2031
8.1 Overview
8.2 Less than 10 MW
8.3 Above 10 MW
9. WIND POWER GENERATION MARKET – REVENUE ANALYSIS (USD MILLION) – BY END USER, 2021-2031
9.1 Overview
9.2 Residential
9.3 Commercial
9.4 Industrial
10. WIND POWER GENERATION MARKET - REVENUE ANALYSIS (USD MILLION), 2021-2031 – GEOGRAPHICAL ANALYSIS
10.1 North America
10.1.1 North America Wind Power Generation Market Overview
10.1.2 North America Wind Power Generation Market Revenue and Forecasts to 2031
10.1.3 North America Wind Power Generation Market Revenue and Forecasts and Analysis - By Deployment Type
10.1.4 North America Wind Power Generation Market Revenue and Forecasts and Analysis - By Power Capacity
10.1.5 North America Wind Power Generation Market Revenue and Forecasts and Analysis - By End User
10.1.6 North America Wind Power Generation Market Revenue and Forecasts and Analysis - By Countries
10.1.6.1 United States Wind Power Generation Market
10.1.6.1.1 United States Wind Power Generation Market, by Deployment Type
10.1.6.1.2 United States Wind Power Generation Market, by Power Capacity
10.1.6.1.3 United States Wind Power Generation Market, by End User
10.1.6.2 Canada Wind Power Generation Market
10.1.6.2.1 Canada Wind Power Generation Market, by Deployment Type
10.1.6.2.2 Canada Wind Power Generation Market, by Power Capacity
10.1.6.2.3 Canada Wind Power Generation Market, by End User
10.1.6.3 Mexico Wind Power Generation Market
10.1.6.3.1 Mexico Wind Power Generation Market, by Deployment Type
10.1.6.3.2 Mexico Wind Power Generation Market, by Power Capacity
10.1.6.3.3 Mexico Wind Power Generation Market, by End User
Note - Similar analysis would be provided for below mentioned regions/countries
10.2 Europe
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 United Kingdom
10.2.5 Russia
10.2.6 Rest of Europe
10.3 Asia-Pacific
10.3.1 Australia
10.3.2 China
10.3.3 India
10.3.4 Japan
10.3.5 South Korea
10.3.6 Rest of Asia-Pacific
10.4 Middle East and Africa
10.4.1 South Africa
10.4.2 Iran
10.4.3 Egypt..
10.4.4 Rest of Middle East and Africa
10.5 South and Central America
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Rest of South and Central America
11. INDUSTRY LANDSCAPE
11.1 Mergers and Acquisitions
11.2 Agreements, Collaborations, Joint Ventures
11.3 New Product Launches
11.4 Expansions and Other Strategic Developments
12. COMPETITIVE LANDSCAPE
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning and Concentration
13. WIND POWER GENERATION MARKET - KEY COMPANY PROFILES
13.1 Siemens Energy
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
Note - Similar information would be provided for below list of companies
13.2 General Electric
13.3 Mitsubishi Heavy Industries
13.4 Vestas Wind Systems
13.5 Renewable Energy Systems Americas
13.6 EDP Renewables
13.7 Orsted A/S
13.8 NextEra Energy, Inc.
13.9 EDF S.A.
13.10 Suzlon Energy Limited
14. APPENDIX
14.1 Glossary
14.2 About The Insight Partners
14.3 Market Intelligence Cloud
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. EXECUTIVE SUMMARY
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. RESEARCH METHODOLOGY
4. WIND POWER GENERATION MARKET LANDSCAPE
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. WIND POWER GENERATION MARKET - KEY MARKET DYNAMICS
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. WIND POWER GENERATION MARKET - GLOBAL MARKET ANALYSIS
6.1 Wind Power Generation - Global Market Overview
6.2 Wind Power Generation - Global Market and Forecast to 2031
7. WIND POWER GENERATION MARKET – REVENUE ANALYSIS (USD MILLION) – BY DEPLOYMENT TYPE, 2021-2031
7.1 Overview
7.2 Onshore
7.3 Offshore
8. WIND POWER GENERATION MARKET – REVENUE ANALYSIS (USD MILLION) – BY POWER CAPACITY, 2021-2031
8.1 Overview
8.2 Less than 10 MW
8.3 Above 10 MW
9. WIND POWER GENERATION MARKET – REVENUE ANALYSIS (USD MILLION) – BY END USER, 2021-2031
9.1 Overview
9.2 Residential
9.3 Commercial
9.4 Industrial
10. WIND POWER GENERATION MARKET - REVENUE ANALYSIS (USD MILLION), 2021-2031 – GEOGRAPHICAL ANALYSIS
10.1 North America
10.1.1 North America Wind Power Generation Market Overview
10.1.2 North America Wind Power Generation Market Revenue and Forecasts to 2031
10.1.3 North America Wind Power Generation Market Revenue and Forecasts and Analysis - By Deployment Type
10.1.4 North America Wind Power Generation Market Revenue and Forecasts and Analysis - By Power Capacity
10.1.5 North America Wind Power Generation Market Revenue and Forecasts and Analysis - By End User
10.1.6 North America Wind Power Generation Market Revenue and Forecasts and Analysis - By Countries
10.1.6.1 United States Wind Power Generation Market
10.1.6.1.1 United States Wind Power Generation Market, by Deployment Type
10.1.6.1.2 United States Wind Power Generation Market, by Power Capacity
10.1.6.1.3 United States Wind Power Generation Market, by End User
10.1.6.2 Canada Wind Power Generation Market
10.1.6.2.1 Canada Wind Power Generation Market, by Deployment Type
10.1.6.2.2 Canada Wind Power Generation Market, by Power Capacity
10.1.6.2.3 Canada Wind Power Generation Market, by End User
10.1.6.3 Mexico Wind Power Generation Market
10.1.6.3.1 Mexico Wind Power Generation Market, by Deployment Type
10.1.6.3.2 Mexico Wind Power Generation Market, by Power Capacity
10.1.6.3.3 Mexico Wind Power Generation Market, by End User
Note - Similar analysis would be provided for below mentioned regions/countries
10.2 Europe
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 United Kingdom
10.2.5 Russia
10.2.6 Rest of Europe
10.3 Asia-Pacific
10.3.1 Australia
10.3.2 China
10.3.3 India
10.3.4 Japan
10.3.5 South Korea
10.3.6 Rest of Asia-Pacific
10.4 Middle East and Africa
10.4.1 South Africa
10.4.2 Iran
10.4.3 Egypt..
10.4.4 Rest of Middle East and Africa
10.5 South and Central America
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Rest of South and Central America
11. INDUSTRY LANDSCAPE
11.1 Mergers and Acquisitions
11.2 Agreements, Collaborations, Joint Ventures
11.3 New Product Launches
11.4 Expansions and Other Strategic Developments
12. COMPETITIVE LANDSCAPE
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning and Concentration
13. WIND POWER GENERATION MARKET - KEY COMPANY PROFILES
13.1 Siemens Energy
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
Note - Similar information would be provided for below list of companies
13.2 General Electric
13.3 Mitsubishi Heavy Industries
13.4 Vestas Wind Systems
13.5 Renewable Energy Systems Americas
13.6 EDP Renewables
13.7 Orsted A/S
13.8 NextEra Energy, Inc.
13.9 EDF S.A.
13.10 Suzlon Energy Limited
14. APPENDIX
14.1 Glossary
14.2 About The Insight Partners
14.3 Market Intelligence Cloud
