The Denmark wind energy market size is projected to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the under-utilized land available to build renewable facilities.
Wind energy system generates electricity by using natural wind. Its compact high-power conversion system are utilized suitable for various applications. In wind turbine, the wind energy is converted into electric energy through generator. The feature of wind energy includes low noise pollution and less operational cost, increasing the proliferation of the wind turbine technology in the country.
Denmark is pioneering in constructing commercial wind power since the 19th century, and today it accounts for a substantial share of the wind energy market. More than 50% of Denmark’s electricity was powered by wind and solar in the 2020. By the year 2030, the production of electricity based on renewable energy is enough to cover the whole of Denmark’s electricity consumption. The objective of the country is to build a low carbon society.
Market Trends, Drivers, Restraints, and Opportunities
- Proliferating demand for renewable power and growing concerns from government relating to de-carbonization are anticipated to boost the market growth.
- Technology advancements is anticipated to drive the market growth during the forecast period.
- Increasing cultivation of bio-energy from agriculture such as natural substances indirectly helps to provide energy, propelling the growth of the market.
- The rise in the shift of Denmark-based power plants toward biomass plants from fossil-powered plants is estimated to boost the market growth.
- The COVID-19 pandemic had resulted in the supply chain disruption, which led to the delay in the installation rate of wind system components. However, the relaxation in restrictions due to acceleration in vaccination drive is expected to boost the development of wind turbines and systems.
- Limited availability of spare parts and manpower for maintenance can restrain the growth of the market.
- Increasing investment and efficacious policies from government state bodies in the country can create lucrative opportunities for the energy players to enter the market.
Scope of the Report
The report on the Denmark wind energy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Denmark Wind Energy Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Locations (Onshore and Offshore)
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Geography Zone
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Denmark
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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MHI Vestas Offshore Wind A/S; Siemens Gamesa Renewable Energy SA; Vattenfall AB; Vestas Wind Systems A/S; Suzlon Energy Ltd; and Orsted AS
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Denmark Wind Energy Market Segment Insights
Onshore segment is expected to grow at a healthy rate
Based on locations, the market is divided into onshore and offshore. The onshore segment is expected to grow at a healthy rate during the forecast period owing to relatively moderate wind speed of 4.9–5.6 m/s measuring at a height of 10 m. Even though the active number of onshore wind turbines has decreased to 6,228 wind turbines, the onshore segment is expected to dominate during the forecast period.
However, the offshore segment is anticipated to hold a major share of the market in the coming years due to technology advancement that removes the constraint of water depth, which aids in selecting the site possible for power generation. However, average wind speed in the country in the month of April-June were lower than the normal expectation. Such factor can impede the market growth. On the other hand, favorable policies can contribute to the industry.
Segments
The Denmark wing energy market has been segmented on the basis of
Locations
Country
Key Players
- MHI Vestas Offshore Wind A/S
- Siemens Gamesa Renewable Energy SA
- Vattenfall AB
- Vestas Wind Systems A/S
- Suzlon Energy Ltd
- Orsted AS
Competitive Landscape
Key players competing in the Denmark wind energy market are MHI Vestas Offshore Wind A/S; Siemens Gamesa Renewable Energy SA; Vattenfall AB; Vestas Wind Systems A/S; Suzlon Energy Ltd; and Orsted AS.
Companies are engaging in partnerships and collaborations with government and private organizations to expand their growth of the market.
In August 2021, Vestas Wind Systems A/S secured two projects, 15 MW Podlasek and 35 MW Wólka Dobryńska projects, which have a total 50-megawatt (MW) capacity. The company bagged the order from the project joint venture between V-Ridium Power Group and KGAL GmbH & Co. KG.
In June 2021, Vattenfall AB, a Europe-based energy company, has installed 72 Siemens Gamesa turbines in Vattenfall AB’s utility, providing a massive 603 MW capacity to 600,000 households.
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