Wind Power Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Application (Residential, Commercial and Industrial), By Installation (Onshore and Offshore), By Turbine Capacity (100 KW, 100 KW to 500 KW, 500 KW to 1 MW, 1MW to 3 MW and Less than 3 MW), By Region, and By Competition

  • Industry : Power
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 83.11 billion

CAGR (2023-2028)

13.09%

Fastest Growing Segment

Less than 3 MW

Largest Market

North America




Market Overview

Global Wind Power Market was valued at USD 83.11 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 13.09% through 2028. One of the primary drivers of the global wind power market is the growing awareness of environmental concerns, particularly the need to mitigate climate change. The combustion of fossil fuels for energy generation is a major contributor to greenhouse gas emissions. Wind power, being a clean and renewable energy source, offers a sustainable alternative that significantly reduces carbon dioxide emissions. Governments, businesses, and individuals worldwide are increasingly recognizing the urgency of transitioning to low-carbon energy sources to combat climate change, driving the demand for wind power.

Key Market Drivers

Growing Environmental Concerns and Sustainable Development

The global wind power market is experiencing significant growth driven by increasing environmental concerns and a growing emphasis on sustainable development. As the world grapples with the consequences of climate change, there is a heightened awareness of the need to transition towards cleaner and more sustainable energy sources. Wind power, being a renewable and clean energy solution, has emerged as a key driver in the global effort to reduce carbon emissions and mitigate the impact of climate change.

Governments, businesses, and individuals are recognizing the urgent need to shift away from traditional fossil fuels and embrace sustainable alternatives. Wind power, with its minimal environmental impact and abundant availability, has become a frontrunner in this transition. Many countries are setting ambitious renewable energy targets, and wind power, both onshore and offshore, plays a crucial role in achieving these goals. The increasing adoption of wind energy as a clean and sustainable power source is a primary driver propelling the growth of the global wind power market.

Technological Advancements and Cost Competitiveness

Another significant driver of the global wind power market is the continuous advancement of wind turbine technology and the increasing cost competitiveness of wind energy. Over the years, there has been a remarkable evolution in wind turbine design, materials, and efficiency, resulting in higher energy yields and lower costs. Technological innovations such as larger rotor diameters, improved materials, and sophisticated control systems have significantly increased the efficiency and reliability of wind turbines.

As a result of these advancements, the cost of generating wind power has steadily decreased, making it more competitive with conventional energy sources. The levelized cost of electricity (LCOE) for wind power has become increasingly attractive, driving widespread adoption across the globe. The continuous research and development in the wind energy sector contribute to further improvements in efficiency and reductions in costs, making wind power an economically viable and sustainable option for meeting the world's growing energy demands.

Supportive Government Policies and Incentives

Supportive government policies and incentives play a crucial role in fostering the growth of the global wind power market. Many countries have implemented policies that promote the development of renewable energy, including wind power, through a combination of financial incentives, regulatory frameworks, and supportive infrastructure. Governments around the world are recognizing the economic, environmental, and energy security benefits of wind power and are implementing measures to encourage its adoption.

These policies often include feed-in tariffs, tax credits, grants, and other financial incentives to make wind power projects more attractive to investors. Additionally, regulatory frameworks are being established to streamline the permitting process for wind projects and ensure a stable market environment. The combination of these supportive measures creates a conducive environment for the growth of the wind power market, attracting investments and driving the expansion of wind energy capacity globally.


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Key Market Challenges

Intermittency and Reliability Issues

One of the primary challenges facing the global wind power market is the intermittency of wind resources and the associated reliability issues. Unlike conventional power sources such as coal or natural gas, wind power generation is highly dependent on weather conditions. Wind speeds can vary significantly from one moment to the next, leading to fluctuations in power output. This intermittency poses challenges for maintaining a consistent and reliable energy supply, as electricity generation from wind turbines is not constant.

Addressing the intermittency challenge requires effective energy storage solutions and improved grid management systems. Energy storage technologies, such as advanced batteries, can store excess energy generated during periods of high wind and release it when wind speeds are low. Additionally, smart grid technologies enable better coordination and balancing of electricity supply and demand. Overcoming these technical and logistical challenges associated with intermittency is crucial for the global wind power market to achieve higher levels of penetration and become a more reliable source of energy.

Land Use and Environmental Impact

As the global wind power market expands, the demand for suitable land for wind farms increases. This poses challenges related to land use and potential environmental impact. Large-scale wind farms require significant amounts of land, and their installation can lead to habitat disruption, biodiversity loss, and changes in local ecosystems. Additionally, the construction and maintenance of wind turbines may have visual and noise impacts on the surrounding environment, affecting both wildlife and nearby communities.

Balancing the need for clean energy with environmental conservation requires careful planning and consideration of the ecological implications of wind power projects. Sustainable siting practices, environmental impact assessments, and community engagement are essential to minimize the negative effects of wind power development. Striking a balance between renewable energy goals and environmental conservation is a complex challenge that requires collaboration among stakeholders, including governments, developers, and environmental organizations.

Infrastructure and Grid Integration

The successful integration of wind power into existing energy infrastructure poses a significant challenge for the global wind power market. Many of the world's best wind resources are located in remote areas, far from population centers with high electricity demand. Building the necessary infrastructure, including transmission lines to connect wind farms to the grid, can be logistically and economically challenging.

Furthermore, integrating large amounts of variable wind power into the electrical grid requires enhancements to grid flexibility and reliability. Existing grids may struggle to manage the variability and unpredictability of wind power generation. Upgrading and expanding the grid infrastructure, implementing advanced grid management technologies, and enhancing interconnection capabilities are essential for the effective integration of wind power into the broader energy system.

This challenge is not only technical but also involves navigating regulatory and institutional barriers to grid development. Collaboration among governments, utilities, and the private sector is crucial to overcoming these challenges and ensuring the seamless integration of wind power into the global energy landscape.

Key Market Trends

Offshore Wind Expansion and Technological Innovations

One prominent trend shaping the global wind power market is the rapid expansion of offshore wind energy projects, coupled with continuous technological innovations. Offshore wind has gained substantial momentum as a viable and scalable source of renewable energy. The trend is fueled by several factors, including the availability of stronger and more consistent wind resources offshore, addressing land use concerns associated with onshore projects, and the increasing quest for larger capacities to meet growing energy demands.

Technological advancements play a pivotal role in the offshore wind sector's growth. The development of larger and more efficient wind turbines specifically designed for offshore conditions has significantly increased the energy output of these projects. Floating wind turbines, which can be deployed in deeper waters where fixed foundations are impractical, are emerging as a breakthrough technology. These innovations contribute to the trend of lowering the levelized cost of electricity (LCOE) for offshore wind, making it more competitive with other forms of electricity generation.

Furthermore, ongoing research and development efforts focus on enhancing the resilience and durability of offshore wind infrastructure, reducing maintenance costs, and improving overall project economics. As a result, offshore wind is poised to play a pivotal role in the global energy transition, with numerous countries investing in ambitious offshore wind capacity targets to harness the vast potential of wind resources in coastal areas.

Corporate Renewable Power Purchase Agreements (PPAs) and Green Financing

A second key trend in the global wind power market is the increasing prevalence of corporate renewable power purchase agreements (PPAs) and the growing emphasis on green financing. Corporations worldwide are recognizing the environmental and economic benefits of transitioning to renewable energy sources, and wind power is a significant player in this transition. To secure a stable and cost-effective renewable energy supply, many large corporations are entering into long-term PPAs with wind power developers.

These PPAs enable corporations to directly purchase electricity from wind farms, providing a stable revenue stream for project developers and helping corporations meet their sustainability goals. The trend is driven by a combination of environmental consciousness, corporate social responsibility initiatives, and the desire to secure a reliable and cost-competitive energy supply over the long term. As a result, corporate PPAs are not only driving demand for wind power but also fostering partnerships between the private sector and renewable energy developers.

Simultaneously, the trend of green financing is gaining traction, with an increasing number of financial institutions offering loans and investment products specifically earmarked for sustainable and renewable energy projects, including wind power. This shift in financing reflects a broader awareness of the financial sector's role in supporting the transition to a low-carbon economy. Green bonds, sustainability-linked loans, and other financial instruments are being deployed to fund wind power projects, further accelerating the growth of the global wind power market and promoting sustainable and responsible investment practices.

Segmental Insights

Application Insights

The Industrial segment emerged as the dominating segment in 2022. Industries are increasingly turning to wind power as a means of mitigating energy costs and enhancing competitiveness. The industrial sector is a major consumer of electricity, and the adoption of wind power offers a sustainable and cost-effective alternative to traditional energy sources. By incorporating wind-generated electricity into their operations, industries can achieve long-term price stability, reduce exposure to volatile fossil fuel prices, and enhance their overall cost competitiveness. This trend is particularly evident in regions where favorable regulatory frameworks and incentives encourage industrial players to invest in onsite wind installations or enter into power purchase agreements (PPAs) with wind farms.

The global shift towards sustainability and corporate social responsibility has spurred the industrial sector to embrace renewable energy sources, including wind power. Many industries are setting ambitious sustainability goals and commitments to reduce their carbon footprint. Wind power, being a clean and renewable energy source, aligns well with these objectives. Industries are investing in on-site wind projects or sourcing wind power through PPAs to meet their sustainability targets. This not only contributes to environmental conservation but also enhances the corporate image and brand reputation of industrial players. Governments and regulatory bodies are further incentivizing such initiatives by offering tax credits, grants, and other benefits to industries actively investing in renewable energy.

The integration of advanced technologies within the industrial sector is driving the adoption of wind power. Industries are leveraging smart grids, energy storage solutions, and sophisticated demand management systems to optimize the utilization of wind-generated electricity. This integration enhances energy security by providing a reliable and resilient power supply, reducing dependency on centralized grids and traditional energy sources susceptible to disruptions. Industrial players are also exploring hybrid energy systems, combining wind power with other renewable sources or conventional energy to ensure uninterrupted operations. This technological integration not only improves operational efficiency but also contributes to the overall stability and sustainability of the industrial segment.

Installation Insights

The Onshore segment is projected to experience rapid growth during the forecast period. The onshore wind power segment is characterized by its widespread geographical distribution, with installations spanning diverse regions globally. This distribution is influenced by the availability and variability of onshore wind resources. Regions with favorable wind conditions, such as Northern Europe, parts of North America, and certain areas in Asia, have witnessed significant onshore wind power development. As technology advances and efficiency improves, there is a continual exploration of new onshore sites, including those in emerging markets. The geographical diversity of onshore wind installations contributes to a more decentralized and resilient energy infrastructure.

Technological advancements have been instrumental in the growth and cost competitiveness of the onshore wind power segment. The development of larger, more efficient turbines, improved materials, and enhanced control systems has increased the capacity and overall efficiency of onshore wind farms. Economies of scale and standardized manufacturing processes have contributed to a decline in the levelized cost of electricity (LCOE) for onshore wind power, making it increasingly competitive with conventional energy sources. As a result, onshore wind projects often serve as cost-effective and reliable contributors to a region's energy mix.

Unlike offshore wind projects, onshore wind farms are typically located closer to populated areas, leading to increased emphasis on community engagement and social acceptance. Successful development and operation of onshore wind projects require proactive community outreach, transparent communication, and addressing local concerns related to noise, visual impact, and land use. Community support is critical for obtaining necessary permits and approvals, and developers are increasingly incorporating community benefits, such as revenue-sharing schemes, to foster positive relationships with local stakeholders.


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Regional Insights

North America emerged as the dominating region in 2022, holding the largest market share. North America has witnessed substantial growth in its wind power capacity, driven by the United States and, to a lesser extent, Canada and Mexico. The U.S. dominates the North American wind power market, ranking among the top countries globally in terms of installed capacity. The region benefits from abundant wind resources, especially in areas such as the Great Plains and the Midwest, making it well-suited for both onshore and offshore wind projects.

While offshore wind development in North America is still in its early stages compared to regions like Europe, there is growing interest and potential for offshore projects. The U.S. has identified significant offshore wind resources along its coastlines, particularly in the Northeast and Mid-Atlantic regions. States like Massachusetts, New York, and New Jersey have ambitious offshore wind targets, and projects are underway to tap into this potential. The advancement of floating wind turbine technology may further unlock deeper offshore areas.

Government policies and regulatory frameworks at both the federal and state levels play a pivotal role in shaping the North American wind power market. In the U.S., federal tax incentives, such as the PTC and ITC, have provided crucial financial support for wind projects. State-level Renewable Portfolio Standards (RPS) and clean energy commitments drive the demand for wind power and create a favorable environment for project development. Regulatory certainty and stability are key factors influencing investor confidence and project financing.

A notable trend in North America is the increasing involvement of corporations in procuring wind power through Power Purchase Agreements (PPAs). Major corporations are making commitments to renewable energy and sustainability goals, driving demand for wind power. This trend not only contributes to the growth of the wind power market but also establishes a mutually beneficial relationship between the corporate and renewable energy sectors.

North America remains at the forefront of technological advancements in wind power. The region is witnessing the deployment of larger and more efficient turbines, improving the overall performance of wind projects. Innovations in materials, control systems, and grid integration technologies contribute to enhancing the reliability and efficiency of wind power installations.

The integration of energy storage technologies is gaining prominence in North America, addressing the intermittency challenge associated with wind power. Energy storage solutions, such as batteries, complement wind power by storing excess energy during periods of high generation and releasing it when demand is high or wind speeds are low. This integration contributes to grid stability and maximizes the value of wind-generated electricity.

In conclusion, the North American wind power market is characterized by substantial growth, driven by a combination of favorable wind resources, supportive policies, technological advancements, and increasing corporate interest in renewable energy. As the region continues to prioritize the transition to clean energy, the wind power sector is expected to play a crucial role in meeting sustainability goals and contributing to a more resilient and diversified energy landscape.

Key Market Players

  • Vestas Wind Systems
  • Siemens Gamesa Renewable Energy
  • General Electric (GE) Renewable Energy
  • China Three Gorges Corporation (CTG)
  • Nordex SE
  • Enel Green Power
  • Enercon GmbH
  • Suzlon Energy Limited
  • EDF Renewables
  • Ørsted A/S                               

By Application

By Installation

By Turbine Capacity

By Region
  • Residential
  • Commercial
  • Industrial
  • Onshore
  • Offshore
  • 100 KW
  • 100 KW to 500 KW
  • 500 KW to 1 MW
  • 1MW to 3 MW
  • Less than 3 MW
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Wind Power Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Wind Power Market, By Application:

o   Residential

o   Commercial

o   Industrial       

  • Wind Power Market, By Installation:

o   Onshore

o   Offshore       

  • Wind Power Market, By Turbine Capacity:

o   100 KW

o   100 KW to 500 KW

o   500 KW to 1 MW

o   1MW to 3 MW

o   Less than 3 MW    

  • Wind Power Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

§  Netherlands

§  Belgium

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

§  Thailand

§  Malaysia

o   South America

§  Brazil

§  Argentina

§  Colombia

§  Chile

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Wind Power Market.

Available Customizations:

Global Wind Power Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Global Wind Power Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.         Product Overview

1.1.    Market Definition

1.2.    Scope of the Market

1.2.1.Markets Covered

1.2.2.Years Considered for Study

1.2.3.Key Market Segmentations

2.         Research Methodology

2.1.    Objective of the Study

2.2.    Baseline Methodology

2.3.    Formulation of the Scope

2.4.    Assumptions and Limitations

2.5.    Sources of Research

2.5.1.Secondary Research

2.5.2.Primary Research

2.6.    Approach for the Market Study

2.6.1.The Bottom-Up Approach

2.6.2.The Top-Down Approach

2.7.    Methodology Followed for Calculation of Market Size & Market Shares

2.8.    Forecasting Methodology

2.8.1.Data Triangulation & Validation

3.         Executive Summary

4.         Impact of COVID-19 on Global Wind Power Market

5.         Voice of Customer

6.         Global Wind Power Market Overview

7.         Global Wind Power Market Outlook

7.1.    Market Size & Forecast

7.1.1.By Value

7.2.    Market Share & Forecast

7.2.1.By Application (Residential, Commercial and Industrial)

7.2.2.By Installation (Onshore and Offshore)

7.2.3.By Turbine Capacity (100 KW, 100 KW to 500 KW, 500 KW to 1 MW, 1MW to 3 MW and Less than 3 MW)

7.2.4.By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)

7.3.    By Company (2022)

7.4.    Market Map

8.         North America Wind Power Market Outlook

8.1.    Market Size & Forecast

8.1.1.By Value

8.2.    Market Share & Forecast

8.2.1.By Application

8.2.2.By Installation

8.2.3.By Turbine Capacity

8.2.4.By Country

8.3.    North America: Country Analysis

8.3.1.United States Wind Power Market Outlook

8.3.1.1.      Market Size & Forecast

8.3.1.1.1.    By Value

8.3.1.2.      Market Share & Forecast

8.3.1.2.1.    By Application

8.3.1.2.2.    By Installation

8.3.1.2.3.    By Turbine Capacity

8.3.2.Canada Wind Power Market Outlook

8.3.2.1.      Market Size & Forecast

8.3.2.1.1.    By Value

8.3.2.2.      Market Share & Forecast

8.3.2.2.1.    By Application

8.3.2.2.2.    By Installation

8.3.2.2.3.    By Turbine Capacity

8.3.3.Mexico Wind Power Market Outlook

8.3.3.1.      Market Size & Forecast

8.3.3.1.1.    By Value

8.3.3.2.      Market Share & Forecast

8.3.3.2.1.    By Application

8.3.3.2.2.    By Installation

8.3.3.2.3.    By Turbine Capacity

9.         Europe Wind Power Market Outlook

9.1.    Market Size & Forecast

9.1.1.By Value

9.2.    Market Share & Forecast

9.2.1.By Application

9.2.2.By Installation

9.2.3.By Turbine Capacity

9.2.4.By Country

9.3.    Europe: Country Analysis

9.3.1.Germany Wind Power Market Outlook

9.3.1.1.      Market Size & Forecast

9.3.1.1.1.    By Value

9.3.1.2.      Market Share & Forecast

9.3.1.2.1.    By Application

9.3.1.2.2.    By Installation

9.3.1.2.3.    By Turbine Capacity

9.3.2.France Wind Power Market Outlook

9.3.2.1.      Market Size & Forecast

9.3.2.1.1.    By Value

9.3.2.2.      Market Share & Forecast

9.3.2.2.1.    By Application

9.3.2.2.2.    By Installation

9.3.2.2.3.    By Turbine Capacity

9.3.3.United Kingdom Wind Power Market Outlook

9.3.3.1.      Market Size & Forecast

9.3.3.1.1.    By Value

9.3.3.2.      Market Share & Forecast

9.3.3.2.1.    By Application

9.3.3.2.2.    By Installation

9.3.3.2.3.    By Turbine Capacity

9.3.4.Italy Wind Power Market Outlook

9.3.4.1.      Market Size & Forecast

9.3.4.1.1.    By Value

9.3.4.2.      Market Share & Forecast

9.3.4.2.1.    By Application

9.3.4.2.2.    By Installation

9.3.4.2.3.    By Turbine Capacity

9.3.5.Spain Wind Power Market Outlook

9.3.5.1.      Market Size & Forecast

9.3.5.1.1.    By Value

9.3.5.2.      Market Share & Forecast

9.3.5.2.1.    By Installation

9.3.5.2.2.    By Application

9.3.5.2.3.    By Turbine Capacity

9.3.6.Netherlands Wind Power Market Outlook

9.3.6.1.      Market Size & Forecast

9.3.6.1.1.    By Value

9.3.6.2.      Market Share & Forecast

9.3.6.2.1.    By Application

9.3.6.2.2.    By Installation

9.3.6.2.3.    By Turbine Capacity

9.3.7.Belgium Wind Power Market Outlook

9.3.7.1.      Market Size & Forecast

9.3.7.1.1.    By Value

9.3.7.2.      Market Share & Forecast

9.3.7.2.1.    By Application

9.3.7.2.2.    By Installation

9.3.7.2.3.    By Turbine Capacity

10.      South America Wind Power Market Outlook

10.1. Market Size & Forecast

10.1.1.     By Value

10.2. Market Share & Forecast

10.2.1.     By Application

10.2.2.     By Installation

10.2.3.     By Turbine Capacity

10.2.4.     By Country

10.3. South America: Country Analysis

10.3.1.     Brazil Wind Power Market Outlook

10.3.1.1.   Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2.   Market Share & Forecast

10.3.1.2.1. By Application

10.3.1.2.2. By Installation

10.3.1.2.3. By Turbine Capacity

10.3.2.     Colombia Wind Power Market Outlook

10.3.2.1.   Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2.   Market Share & Forecast

10.3.2.2.1. By Application

10.3.2.2.2. By Installation

10.3.2.2.3. By Turbine Capacity

10.3.3.     Argentina Wind Power Market Outlook

10.3.3.1.   Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2.   Market Share & Forecast

10.3.3.2.1. By Application

10.3.3.2.2. By Installation

10.3.3.2.3. By Turbine Capacity

10.3.4.     Chile Wind Power Market Outlook

10.3.4.1.   Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2.   Market Share & Forecast

10.3.4.2.1. By Application

10.3.4.2.2. By Installation

10.3.4.2.3. By Turbine Capacity

11.      Middle East & Africa Wind Power Market Outlook

11.1. Market Size & Forecast

11.1.1.     By Value

11.2. Market Share & Forecast

11.2.1.     By Application

11.2.2.     By Installation

11.2.3.     By Turbine Capacity

11.2.4.     By Country

11.3. Middle East & Africa: Country Analysis

11.3.1.     Saudi Arabia Wind Power Market Outlook

11.3.1.1.   Market Size & Forecast

11.3.1.1.1. By Value

11.3.1.2.   Market Share & Forecast

11.3.1.2.1. By Application

11.3.1.2.2. By Installation

11.3.1.2.3. By Turbine Capacity

11.3.2.     UAE Wind Power Market Outlook

11.3.2.1.   Market Size & Forecast

11.3.2.1.1. By Value

11.3.2.2.   Market Share & Forecast

11.3.2.2.1. By Application

11.3.2.2.2. By Installation

11.3.2.2.3. By Turbine Capacity

11.3.3.     South Africa Wind Power Market Outlook

11.3.3.1.   Market Size & Forecast

11.3.3.1.1. By Value

11.3.3.2.   Market Share & Forecast

11.3.3.2.1. By Application

11.3.3.2.2. By Installation

11.3.3.2.3. By Turbine Capacity

11.3.4.     Turkey Wind Power Market Outlook

11.3.4.1.   Market Size & Forecast

11.3.4.1.1. By Value

11.3.4.2.   Market Share & Forecast

11.3.4.2.1. By Application

11.3.4.2.2. By Installation

11.3.4.2.3. By Turbine Capacity

12.      Asia Pacific Wind Power Market Outlook

12.1.  Market Size & Forecast

12.1.1.     By Value

12.2. Market Share & Forecast

12.2.1.     By Application

12.2.2.     By Installation

12.2.3.     By Turbine Capacity

12.2.4.     By Country

12.3. Asia-Pacific: Country Analysis

12.3.1.     China Wind Power Market Outlook

12.3.1.1.   Market Size & Forecast

12.3.1.1.1. By Value

12.3.1.2.   Market Share & Forecast

12.3.1.2.1. By Application

12.3.1.2.2. By Installation

12.3.1.2.3. By Turbine Capacity

12.3.2.     India Wind Power Market Outlook

12.3.2.1.   Market Size & Forecast

12.3.2.1.1. By Value

12.3.2.2.   Market Share & Forecast

12.3.2.2.1. By Application

12.3.2.2.2. By Installation

12.3.2.2.3. By Turbine Capacity

12.3.3.     Japan Wind Power Market Outlook

12.3.3.1.   Market Size & Forecast

12.3.3.1.1. By Value

12.3.3.2.   Market Share & Forecast

12.3.3.2.1. By Application

12.3.3.2.2. By Installation

12.3.3.2.3. By Turbine Capacity

12.3.4.     South Korea Wind Power Market Outlook

12.3.4.1.   Market Size & Forecast

12.3.4.1.1. By Value

12.3.4.2.   Market Share & Forecast

12.3.4.2.1. By Application

12.3.4.2.2. By Installation

12.3.4.2.3. By Turbine Capacity

12.3.5.     Australia Wind Power Market Outlook

12.3.5.1.   Market Size & Forecast

12.3.5.1.1. By Value

12.3.5.2.   Market Share & Forecast

12.3.5.2.1. By Application

12.3.5.2.2. By Installation

12.3.5.2.3. By Turbine Capacity

12.3.6.     Thailand Wind Power Market Outlook

12.3.6.1.   Market Size & Forecast

12.3.6.1.1. By Value

12.3.6.2.   Market Share & Forecast

12.3.6.2.1. By Application

12.3.6.2.2. By Installation

12.3.6.2.3. By Turbine Capacity

12.3.7.     Malaysia Wind Power Market Outlook

12.3.7.1.   Market Size & Forecast

12.3.7.1.1. By Value

12.3.7.2.   Market Share & Forecast

12.3.7.2.1. By Application

12.3.7.2.2. By Installation

12.3.7.2.3. By Turbine Capacity

13.      Market Dynamics

13.1. Drivers

13.2. Challenges

14.      Market Trends and Developments

15.      Company Profiles

15.1.  Vestas Wind Systems

15.1.1.     Business Overview

15.1.2.     Key Revenue and Financials  

15.1.3.     Recent Developments

15.1.4.     Key Personnel/Key Contact Person

15.1.5.     Key Product/Services Offered

15.2.  Siemens Gamesa Renewable Energy

15.2.1.     Business Overview

15.2.2.     Key Revenue and Financials  

15.2.3.     Recent Developments

15.2.4.     Key Personnel/Key Contact Person

15.2.5.     Key Product/Services Offered

15.3.  General Electric (GE) Renewable Energy

15.3.1.     Business Overview

15.3.2.     Key Revenue and Financials  

15.3.3.     Recent Developments

15.3.4.     Key Personnel/Key Contact Person

15.3.5.     Key Product/Services Offered

15.4.  China Three Gorges Corporation (CTG)

15.4.1.     Business Overview

15.4.2.     Key Revenue and Financials  

15.4.3.     Recent Developments

15.4.4.     Key Personnel/Key Contact Person

15.4.5.     Key Product/Services Offered

15.5.  Nordex SE

15.5.1.     Business Overview

15.5.2.     Key Revenue and Financials  

15.5.3.     Recent Developments

15.5.4.     Key Personnel/Key Contact Person

15.5.5.     Key Product/Services Offered

15.6.  Enel Green Power

15.6.1.     Business Overview

15.6.2.     Key Revenue and Financials  

15.6.3.     Recent Developments

15.6.4.     Key Personnel/Key Contact Person

15.6.5.     Key Product/Services Offered

15.7.  Enercon GmbH

15.7.1.     Business Overview

15.7.2.     Key Revenue and Financials  

15.7.3.     Recent Developments

15.7.4.     Key Personnel/Key Contact Person

15.7.5.     Key Product/Services Offered

15.8.  Suzlon Energy Limited

15.8.1.     Business Overview

15.8.2.     Key Revenue and Financials  

15.8.3.     Recent Developments

15.8.4.     Key Personnel/Key Contact Person

15.8.5.     Key Product/Services Offered

15.9.  EDF Renewables

15.9.1.     Business Overview

15.9.2.     Key Revenue and Financials  

15.9.3.     Recent Developments

15.9.4.     Key Personnel/Key Contact Person

15.9.5.     Key Product/Services Offered

15.10.   Ørsted A/S

15.10.1.   Business Overview

15.10.2.   Key Revenue and Financials  

15.10.3.   Recent Developments

15.10.4.   Key Personnel/Key Contact Person

15.10.5.   Key Product/Services Offered

16.      Strategic Recommendations

17. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Wind Power Market was USD 83.11 billion in 2022.

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The Onshore segment demonstrated significant dominance in 2022. The onshore wind power segment is characterized by its widespread geographical distribution, with installations spanning diverse regions globally. This distribution is influenced by the availability and variability of onshore wind resources. Regions with favorable wind conditions, such as Northern Europe, parts of North America, and certain areas in Asia, have witnessed significant onshore wind power development.

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North America dominated the market in 2022.

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Growing Environmental Concerns and Sustainable Development are some of the major drivers for the Global Wind Power Market.

Related Reports

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Parvati Sharma

Account Manager BD
Press Release

Wind Power Market is expected to grow at a robust CAGR of 13.09%

Jan, 2024

Global Wind Power Market is expected to grow owing to growing awareness of environmental issues and the importance of reducing carbon footprints throughout the forecast period.

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