Wind Turbine Market – Global Industry Analysis and Forecast (2022-2029)

Wind Turbine Market size was valued at US$ 118.66 Bn in 2021 and the total revenue is expected to grow at 7.9 % through 2022 to 2029, reaching nearly US$ 218.02 Bn.
Wind Turbine Market Overview:
Kinetic energy is converted to electrical power by wind turbines. Wind energy is a renewable source of electricity that is widely regarded as the cleanest accessible. This energy has become one of the most cost-effective and productive renewable energy sources in past years. The utilisation of wind turbines is boosted by features including zero carbon emissions, power supply variability, and a quick designing and building time for wind power generation.

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Wind Turbine Market Dynamics:
Rising investment toward effective R&D of wind-based power technologies along with increasing acceptance of large capacity projects are expected to fuel the growth in the Global wind turbine market. Expanding industrial contention has rendered significant decrease in the prices of rotor modules in line with effective effectiveness & volume manufacturing driving the growth in the Global wind turbine market.

An ever-increasing need for renewable power in the aftermath of high levels of air pollution everywhere and the resulting health problems among the general population are the key reasons pushing wind power market position. The growing focus on lowering humanity's carbon footprint is encouraging big actors to invest in technologies that can quickly and efficiently exploit the huge wind power potential and minimise, if not eliminate, our reliance on non-renewable energy sources.

However, heavy investment for the production and installation of wind turbines are hampers the growth of the market. Also, inefficiency in the supply chain is estimated to hinder industry demand over the forecast period.
Wind Turbine Market Segment Analysis:
The global Wind Turbine Market is segmented by Type of Wind Farm, Application, Axis type, Components and Capacity.

Based on Type of Wind Farm, the global Wind Turbine market is segmented into Onshore and Offshore. The Offshore segment held the largest market share of xx% in 2021. Positive supervisory inclination coupled with long term incorporation targets will drive the global industry subtleties. Advanced efficiency and cost effectiveness are some of the important parameters which will accompaniment the industry dynamics. Enhanced operating activity figures when compared to its complements will further improve the technological demand.
Global Wind Turbine Market Regional Insights:
Asia Pacific dominate the global Wind Turbine market during the forecast period 2022-2029. Asia Pacific held the largest market share 58%in 2021. India is the most rewarding country in the wind turbine market. Because of addition of wind energy connection capacity along with growth in investment in wind energy and onshore wind energy projects. Furthermore, Europe is estimated to witness the highest growth rate owing to the upsurge in wind installation capacity which is more than any other form of power generation in Europe. Growth in investment for construction of new wind farms, project achievements, and refinancing operations are anticipated to boost the European wind turbine market.

North America held the 2nd largest market share of 62% in 2021. This economic growth is being fueled by an increase in domestic system output, which is estimated to continue on an upward trend throughout the forecast period.

The objective of the report is to present a comprehensive analysis of the global Wind Turbine Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also helps in understanding the global Wind Turbine Market dynamic, structure by analyzing the market segments and project the global Wind Turbine Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Wind Turbine Market make the report investor’s guide.
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Global Wind Turbine Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 118.66 Bn.


Forecast Period 2022 to 2029 CAGR:
7.9%
Market Size in 2029:
US $ 218.02 Bn.


 Segments Covered:
by Wind Farm
• Onshore
• Offshore


by Application
• Industrial
• Commercial
• Residential
• Utility


by Axis type
• Horizontal
• Vertical


by Component
• Rotator Blade
• Gearbox
• Generator
• Nacelle
• Turbines
• Electrical Infrastructure
• Substructure
• Others


by Capacity
• Small
• Medium
• Large



Global Wind Turbine Market, by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Global Wind Turbine Market, Key Players
• Suzlon
• Nordex Acciona
• Senvion
• Goldwind
• MHI-Vestas
• United Power
• Vestas
• Enercon
• General Electric
• Siemens
• Gamesa
• Envision Energy
• Wobben
• Mingyang
• WEG SA
• Clipper
• Impsa
• LM Windpower
• Bergey
• Northern Power Systems
• Enessere
• Xinjiang Goldwind Science & Technology Co. Ltd.
• Acciona
Frequently Asked Questions:
1] What segments are covered in Wind Turbine Market report?
Ans. The segments covered in Wind Turbine Market report are based on Type of Wind Farm, Application, Axis type, Components and Capacity.

2] Which region is expected to hold the highest share in the global Wind Turbine Market?
Ans. Asia Pacific is expected to hold the highest share in the global Wind Turbine Market.

3] What is the market size of global Wind Turbine Market by 2029?
Ans. The market size of global Wind Turbine Market by 2029 is US $ 218.02 Bn.

4] Who are the top key players in the global Wind Turbine Market?
Ans. Suzlon, Nordex Acciona, Senvion, Goldwind, MHI-Vestas and United Power are the top key players in the global Wind Turbine Market.

5] What was the market size of global Wind Turbine Market in 2021?
Ans. The market size of global Wind Turbine Market in 2021 was US $ 118.66 Bn.

6] By Type of Wind Farm, What segments are covered in global Wind Turbine Market report?
Ans. The segments covered in global Wind Turbine Market report by type of wind farm are Onshore and Offshore.