Wind Power Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

The global wind power market has been experiencing significant growth in recent years, driven by the rising demand for renewable energy sources and government initiatives to reduce carbon emissions. The Asia Pacific region is expected to be the largest market for wind power, closely followed by Europe and North America. Offshore wind power is also gaining traction, with several large-scale projects currently under development. Despite challenges such as high upfront costs and intermittency issues, the industry presents significant opportunities for investors and stakeholders looking to capitalize on the growing demand for clean energy.

Key Report Findings

The global wind power market was valued at over US$112 Bn in 2021.

Global wind power capacity reached 743 GW by the end of 2020.

Offshore wind power capacity is expected to grow from 34 GW in 2020 to about 234 GW by 2030.

Asia Pacific is projected to have the highest compound annual growth rate (CAGR) over the forecast period.

Growth Drivers

Higher Adoption of Sustainable Energy and Favorable Governmental Initiatives

With climate change becoming a pressing concern, nations worldwide are adopting sustainable sources of energy to lower carbon emissions. Wind power is a major contributor to renewable energy, and governments are implementing favorable policies and regulatory frameworks to promote its use and reduce costs. These efforts are expected to drive further adoption of wind power, fostering innovation and infrastructure development in the industry.

Technological Advancements and Increasing Global Investments

Industry players are continuously developing advancements in wind turbine technology to improve efficiency and cost-effectiveness. Additionally, there is an increase in investments from private-public entities to enhance energy generation and distribution processes. Such investments are expected to accelerate growth in the global wind power market.

Growth Challenges

Intermittency and Infrastructural Limitations

The intermittent nature of wind power makes it challenging to integrate into the grid as a primary energy source. Additionally, substantial infrastructure, such as power lines and substations, is necessary for successful wind power implementation. Complex regulations and the need to secure permits can also hinder the progression of the global wind power market.

Growth Opportunities Across Regions

Asia Pacific to Gain Traction

While North America and Europe are mature markets for wind power, the Asia Pacific is expected to experience significant growth. China, Japan, and India are major markets, and emerging markets include Australia, Thailand, and Vietnam. China holds the largest market share, followed by the United States and Germany.

Key Market Players - Wind Power Market Landscape

Key companies in the global wind power market include GE Wind, Vestas, Siemens Wind Power, Suzlon Group, Goldwind, United Power, Acciona, Nordex SE, Sinovel Wind Group, EDF Renewable Energy, ReGen Powertech, Vensys Energy, ABB Limited, NextEra Energy Inc., Northland Power Inc., and DONG Energy, among others.

1. Executive Summary

1.1. Global Wind Power Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
  - 2.2.1.1. Driver A
  - 2.2.1.2. Driver B
  - 2.2.1.3. Driver C
- 2.2.2. Restraints
  - 2.2.2.1. Restraint 1
  - 2.2.2.2. Restraint 2
- 2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. Covid-19 Impact Analysis
- 2.5.1. Pre-Covid and Post-Covid Scenario
- 2.5.2. Supply Impact
- 2.5.3. Demand Impact
2.6. Government Regulations
2.7. Technology Landscape
2.8. Economic Analysis
2.9. PESTLE

3. Wind Power Generation, 2018-2022

3.1. Regional Production Statistics
- 3.1.1. North America
- 3.1.2. Europe
- 3.1.3. Asia Pacific
- 3.1.4. Latin America
- 3.1.5. Middle East & Africa
3.2. Trade Statistics

4. Price Trends Analysis and Future Projects, 2018-2030

4.1. Key Highlights
4.2. Prominent Factors Affecting Prices
4.3. By Location
4.4. By Region

5. Global Wind Power Market Outlook, 2018-2030

5.1. Global Wind Power Market Outlook, by Location, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 5.1.1. Key Highlights
  - 5.1.1.1. Hydroponics
  - 5.1.1.2. Aeroponics
  - 5.1.1.3. Aquaponics
5.2. Global Wind Power Market Outlook, by End-user, Installed Capacity (GW) and Value (US$ Mn), 2018 - 2030
- 5.2.1. Key Highlights
  - 5.2.1.1. Utility
  - 5.2.1.2. Non-utility
5.3. Global Wind Power Market Outlook, by Region, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 5.3.1. Key Highlights
  - 5.3.1.1. North America
  - 5.3.1.2. Europe
  - 5.3.1.3. Asia Pacific
  - 5.3.1.4. Latin America
  - 5.3.1.5. Middle East & Africa
- 5.3.2. BPS/Market Attractiveness Analysis

6. North America Wind Power Market Outlook, 2018-2030

6.1. North America Wind Power Market Outlook, by Location, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 6.1.1. Key Highlights
  - 6.1.1.1. Onshore
  - 6.1.1.2. Offshore
6.2. North America Wind Power Market Outlook, by End-user, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 6.2.1. Key Highlights
  - 6.2.1.1. Utility
  - 6.2.1.2. Non-utility
6.3. North America Wind Power Market Outlook, by Country, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 6.3.1. Key Highlights
  - 6.3.1.1. U.S.
  - 6.3.1.2. Canada
- 6.3.2. BPS/Market Attractiveness Analysis

7. Europe Wind Power Market Outlook, 2018-2030

7.1. Europe Wind Power Market Outlook, by Location, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 7.1.1. Key Highlights
  - 7.1.1.1. Onshore
  - 7.1.1.2. Offshore
7.2. Europe Wind Power Market Outlook, by End-user, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 7.2.1. Key Highlights
  - 7.2.1.1. Utility
  - 7.2.1.2. Non-utility
7.3. Europe Wind Power Market Outlook, by Country, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 7.3.1. Key Highlights
  - 7.3.1.1. Germany
  - 7.3.1.2. France
  - 7.3.1.3. U.K.
  - 7.3.1.4. Italy
  - 7.3.1.5. Norway
  - 7.3.1.6. Spain
  - 7.3.1.7. Russia
  - 7.3.1.8. Rest of Europe
- 7.3.2. BPS/Market Attractiveness Analysis

8. Asia Pacific Wind Power Market Outlook, 2018-2030

8.1. Asia Pacific Wind Power Market Outlook, by Location, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 8.1.1. Key Highlights
  - 8.1.1.1. Onshore
  - 8.1.1.2. Offshore
8.2. Asia Pacific Wind Power Market Outlook, by End-user, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 8.2.1. Key Highlights
  - 8.2.1.1. Utility
  - 8.2.1.2. Non-utility
8.3. Asia Pacific Wind Power Market Outlook, by Country, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 8.3.1. Key Highlights
  - 8.3.1.1. China
  - 8.3.1.2. Japan
  - 8.3.1.3. South Korea
  - 8.3.1.4. India
  - 8.3.1.5. Southeast Asia
  - 8.3.1.6. Rest of Asia Pacific
- 8.3.2. BPS/Market Attractiveness Analysis

9. Latin America Wind Power Market Outlook, 2018 - 2030

9.1. Latin America Wind Power Market Outlook, by Location, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 9.1.1. Key Highlights
  - 9.1.1.1. Onshore
  - 9.1.1.2. Offshore
9.2. Latin America Wind Power Market Outlook, by End-user, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 9.2.1. Key Highlights
  - 9.2.1.1. Utility
  - 9.2.1.2. Non-utility
9.3. Latin America Wind Power Market Outlook, by Country, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 9.3.1. Key Highlights
  - 9.3.1.1. Brazil
  - 9.3.1.2. Mexico
  - 9.3.1.3. Rest of Latin America
- 9.3.2. BPS/Market Attractiveness Analysis

10. Middle East & Africa Wind Power Market Outlook, 2018-2030

10.1. Middle East & Africa Wind Power Market Outlook, by Location, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 10.1.1. Key Highlights
  - 10.1.1.1. Onshore
  - 10.1.1.2. Offshore
10.2. Middle East & Africa Wind Power Market Outlook, by End-user, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 10.2.1. Key Highlights
  - 10.2.1.1. Utility
  - 10.2.1.2. Non-utility
10.3. Middle East & Africa Wind Power Market Outlook, by Country, Installed Capacity (GW) and Value (US$ Mn), 2018-2030
- 10.3.1. Key Highlights
  - 10.3.1.1. GCC
  - 10.3.1.2. South Africa
  - 10.3.1.3. Rest of Middle East & Africa
- 10.3.2. BPS/Market Attractiveness Analysis

11. Competitive Landscape

11.1. Company Market Share Analysis, 2022
11.2. Competitive Dashboard
11.3. Company Profiles
- 11.3.1. Vestas Wind Systems A/S
  - 11.3.1.1. Company Overview
  - 11.3.1.2. Product Portfolio
  - 11.3.1.3. Financial Overview
  - 11.3.1.4. Business Strategies and Development
- 11.3.2. Siemens Gamesa Renewable Energy
- 11.3.3. GE Renewable Energy
- 11.3.4. Goldwind
- 11.3.5. Suzlon
- 11.3.6. Guodian United Power
- 11.3.7. Nordex
- 11.3.8. Windey
- 11.3.9. ENERCON
- 11.3.10. SEWind
- 11.3.11. NextEra Energy Resources
- 11.3.12. Iberdrola
- 11.3.13. Envision Energy
- 11.3.14. Mingyang

12. Appendix

12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations