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PUBLISHER: IMARC | PRODUCT CODE: 1207174
PUBLISHER: IMARC | PRODUCT CODE: 1207174
Wind Energy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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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?
Product Code: SR1323A646_Report
Table of Contents
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
- 11.1.1 United States
- 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
- 11.2.1 China
- 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
- 11.3.1 Germany
- 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
- 11.4.1 Brazil
- 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
- 16.3.1 ABB Ltd.
Product Code: SR1323A646_Report
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
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
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