Wind Power Market was valued at US$ 61.63 GW in 2021 and is expected to reach US$ 91.06 GW by 2029, at a CAGR 5% from 2022-2029. Wind Power is a procedure by which wind is utilized to create power. Wind energy utilizes air stream through engines to generate a clean derivation of power around the world. Wind energy transforms the kinetic power into automatic energy through engines. A wind engine turns power in the wind into power utilizing the flowing energy generated by the rotor blades of the alternator. To know about the Research Methodology :- Request Free Sample Report
Wind Power Market DynamicsThe aerodynamic pressure revolves to generate power. The need for wind energy market has enlarged because of the increase in pollution amount in an environment and health matters among people. Wind energy is normally utilized in wind forces, wind accumulator chargers, wind power creators, etc. One of the major factors operating the development of the all inclusive wind energy market is the depletion of crude oil reservoirs. As per to the power statistics report issued by Government of India, the fossil fuel oil depository in India was 621.28 Bn ton and 605.10 Bn ton in the years 2021 and 2029 separately. In addition, the all inclusive wind energy market is estimated to develop at an excessive rate because of the rising perception for wind power origins in America. For example, as per to the BP statistical analysis evaluation of world power report issued in 2021, in south and central America, the air current energy creation enlarged with a development rate of 17.4%.Increasing floating wind automation inventors would pose as an chance for the worldwide wind energy market. This would assist to predict weather circumstances, lightning cautioning, and tidal details. On the other hand, the engines might source noise and decorative pollutions that would restrict the market development. Onshore wind energy appeared as one of the highest evaluated sustainable power sources; globally .The increasing onshore implemented wind energy capacity is expected to observe an incorporation of 8.33% in 2021 as differentiated to the earlier year’s capacity. On the other hand, the offshore zone has been obtaining energy in the all inclusive wind energy and is estimated to observe the quickest development in the coming year.
Wind Power Market Segment AnalysisWind Power Market is divided into by Location (Onshore and offshore), by Application (Utility and Non Utility), End-users (Industrial, Commercial, Residential) and by Region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America).The implemented capacity from the offshore zone constituted a 26% rise in increasing implemented capacity as differentiated to the earlier year. Europe records for higher than 80% of the all inclusive increasing offshore wind implemented capacity, by the finish of 2021.The offshore wind energy market is influenced by the U.K, China, and Germany. The U.K constituted nearly half of Europe’s total capacity in 2021 and the offshore wind companies in the nation is set to coupled, after the nations division for business, Power, and Industrial plan declared long term government assistance for the nations offshore wind power industry. However the centre of concentration has been the extreme success in the offshore zone in Europe previously, China’s offshore companies is eventually is obtaining power. In 2021, the nations had implemented 1,162 MW of modern wind energy capacity, which were dispersed around 18 offshore wind turbines ,and nine of them (969 MW) were in Jiangsu region, which projects to be the important focus of offshore wind growth. India is also concentrating on offshore growths .In June 2021, India called for proclamation of interest for the first offshore wind energy activities in the nations that is being structured in the Gulf of Khambat, off the seashore of Gujarat region.
Wind Power Market Regional AnalysisOn the basis of region Wind Power Market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America is estimated to be the dominant region in the wind power market. North America is the most developed and aggressive zone in the wind energy market. In 2021, the America zone added 11.10 GW of wind energy capacity, guide by the U.S, Mexico, and Brazil. In 2021, the United States observes 7,411 MW rise in its implemented wind power capacity; recording 8.32% rise over increased volume in 2021.The development is allocated to the current and final addition of the Production contribution credit in the U.S. Besides, the rules responsibilities in California and the industry constricted in utilizing to the current and final additions in California and the manufacturing dependence in utilizing lower benefit steps of the manufacturing tax credit in the U.S. Besides, the strategy dedication in California and the production confidence in utilizing lower standards steps of the manufacturing tax credit accounts a moderate improvement in the United States onshore zone. In 2021, Mexico implemented around 1 GW of brand-new wind turbines capability, which is one of the quickest capacities in Mexico, was 4.9 GW. The scenery for sustainable power sources enhanced remarkably, following its 2014 power improvements, which are basically concentrating on liberalizing the power market. Further, the nation has a destination to create 35% of its energy capacity through sustainable before 2029.
Wind Power Market Key DevelopmentVestas and General Electric are constantly innovating new technologies to enhance the wind power market in the forthcoming year. The objective of the report is to present a comprehensive analysis of the Wind Power Market including all the stakeholders of the industry. The past and current status of the industry with 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 includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has 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 report also helps in understanding global market dynamics, structure by analyzing the market segments and projects the global market size. Clear representation of competitive analysis of key players By Location, price, financial position, Product portfolio, growth strategies, and regional presence in the global market make the report investor’s guide
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Global Wind Power Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2029 Historical Data: 2017 to 2021 Market Size in 2021: US $ 61.63 GW. Forecast Period 2022 to 2029 CAGR: 5% Market Size in 2029: US $ 91.06 GW. Segments Covered: by Location • Onshore • Offshore by Application • Utility • Non Utility by End User • Industrial • Commercial • Residential
Wind Power Market, by Region• North America • Europe • Asia Pacific • Middle East and Africa • South America
Wind Power Market Key Players• Vestas • General Electric • Senvion SA • Wind World Limited • Orient Green Power Company Ltd. • Indowind • DNV GL • Siemens Gamesa Renewable Energy SA • Golwind • Bergey Wind Power • Duke Energy Corporation • Orsted A/S • Acciona Energia SA • NextEra Energy, Inc. • Suzlon Group Frequently Asked Questions: 1. Which region has the largest share in Global Wind Power Market? Ans: North America region holds the highest share in 2021. 2. What is the growth rate of Global Wind Power Market? Ans: The Global Wind Power Market is growing at a CAGR of 5% during forecasting period 2022-2029. 3. What segments are covered in Global Wind Power market? Ans: Global Wind Power Market is segmented into location, application, End-user and region. 4. Who are the key players in Global Wind Power market? Ans: The important key players in the Global Wind Power Market are – Vestas, General Electric, Senvion SA, Wind World Limited, Orient Green Power Company Ltd., Indowind, DNV GL, Siemens Gamesa Renewable Energy SA, Golwind, Bergey Wind Power, Duke Energy Corporation, Orsted A/S, Acciona Energia SA, NextEra Energy, Inc., Suzlon Group 5. What is the study period of this market? Ans: The Global Wind Power Market is studied from 2021 to 2029.
1. Global Wind Power Market: Research Methodology 2. Global Wind Power Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Wind Power Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Wind Power Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Wind Power Market Segmentation 4.1 Global Wind Power Market, by Location (2021-2029) • Onshore • Offshore 4.2 Global Wind Power Market, by Application (2021-2029) • Utility • Non Utility 4.3 Global Wind Power Market, by End User (2021-2029) • Industrial • Commercial • Residential 5. North America Wind Power Market(2021-2029) 5.1 North America Wind Power Market, by Location (2021-2029) • Onshore • Offshore 5.2 North America Wind Power Market, by Application (2021-2029) • Utility • Non Utility 5.3 North America Wind Power Market, by End User (2021-2029) • Industrial • Commercial • Residential 5.4 North America Wind Power Market, by Country (2021-2029) • United States • Canada • Mexico 6. Europe Wind Power Market (2021-2029) 6.1. European Wind Power Market, by Location (2021-2029) 6.2. European Wind Power Market, by Application (2021-2029) 6.3. European Wind Power Market, by End User (2021-2029) 6.4. European Wind Power Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Wind Power Market (2021-2029) 7.1. Asia Pacific Wind Power Market, by Location (2021-2029) 7.2. Asia Pacific Wind Power Market, by Application (2021-2029) 7.3. Asia Pacific Wind Power Market, by End User (2021-2029) 7.4. Asia Pacific Wind Power Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Wind Power Market (2021-2029) 8.1 Middle East and Africa Wind Power Market, by Location (2021-2029) 8.2. Middle East and Africa Wind Power Market, by Application (2021-2029) 8.3. Middle East and Africa Wind Power Market, by End User (2021-2029) 8.4. Middle East and Africa Wind Power Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Wind Power Market (2021-2029) 9.1. South America Wind Power Market, by Location (2021-2029) 9.2. South America Wind Power Market, by Application (2021-2029) 9.3. South America Wind Power Market, by End User (2021-2029) 9.4 South America Wind Power Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Vestas 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 General Electric 10.3 Senvion SA 10.4 Wind World Limited 10.5 Orient Green Power Company Ltd. 10.6 Indowind 10.7 DNV GL 10.8 Siemens Gamesa Renewable Energy SA 10.9 Golwind 10.10 Bergey Wind Power 10.11 Duke Energy Corporation 10.12 Orsted A/S 10.13 Acciona Energia SA 10.14 NextEra Energy, Inc. 10.15 Suzlon Group