Thailand Wind Energy Market

Thailand Wind Energy Market by Deployments (Offshore and Onshore), Applications (Commercial, Residential, Utility, and Industrial), Components (Support Structure, Electrical Infrastructure, Turbine, and Others), and Country - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: EP-3894
  • Author: Growth Market Reports
  • Rating: 4.7
  • Total Reviews: 2
  • No. Of Pages: 199
  • Format:
  • Pub. Date: Upcoming
  • Share:

The Thailand wind energy market size is expected to expand at a CAGR of 5.69% during the forecast period, 2021 – 2028. The growth of the market is attributed to the increasing energy demand combined with a rising percentage of renewables in the power generating. Moreover, the initiatives taken by the government in the country to reduce reliance on fossil fuel-based power generation and improve energy efficiency standards present another key aspect of the market expansion.

Thailand Wind Energy Market summary

Wind energy, also known as wind power, refers to types of producing electricity by converting the wind resource into mechanical power. In general, the development of wind energy is primarily proceeded using the wind mills, which are usually placed or installed in high mountains or in sea. The Thai wind energy sector has ability to produce wide range of renewable power and several projects for generating electricity from wind mills are currently going on. The country has advantage of generating a potential of 13-17 GW onshore energy due to rapid installation of technologies. Thailand has had 1.5 GW of onshore wind installed as of 2019. The Thai government announced that the country had plan to increase wind energy goal to 7 GW by 2037 as a solid path toward developing clean and competitive energy.

The COVID-19 pandemic had adversely impacted the market due to shifting attention of the government towards solving the healthcare burden caused by the rise of virus cases in the country. The installation of wind mills in the country was largely neglected. However, the market was seen rebounded in the second part of FY 2020 as a result of rapid project monitoring by various developers.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising government’s initiatives to replace traditional energy sources with renewable energy sources in the country is a key factor driving the market.
  • Increasing pressure for the development of steady, clean, and inexpensive electricity to ensure economic stability is projected to boost the market during the forecast period.
  • Favorable geographical landscape connecting sea and mountain terrains present key aspects for the market expansion.
  • Availability of solar electricity as the most popular alternative renewable energy source is a key hurdle that can hinder the market expansion.
  • Upcoming projects in the offshore wind energy industry in the Gulf of Thailand are likely to create lucrative opportunities for the market growth during the forecast period.

Scope of the Report

The report on the Thailand wind energy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Wind Energy Market - Thailand Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Deployments (Offshore and Onshore), Applications (Commercial, Residential, Utility, and Industrial), and Components (Support Structure, Electrical Infrastructure, Turbine, and Others)

Country

Thailand

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Electricity Generating PCL; Wind Energy Holding Co Ltd; GOLDWIND/Shs A Vtg; Energy Absolute PLC; and Siemens Gamesa Renewable Energy SA

Market Segment Insights

Onshore segment to grow at a high rate during the forecast period

Based on deployments, the Thailand wind energy market is bifurcated into offshore and onshore. The onshore segment is expected to grow at a high rate during the projected period owing to its low cost and easy installation process. In comparison to 2018, the cumulative onshore installed capacity of the country has increased by 10% in 2019. On the other hand, offshore wind power generation, is steadily increasing prominence globally. 

Utility segment to hold a significant share of the market

In terms of applications, the market is divided into commercial, residential, utility, and industrial. The utility segment is expected to hold a significant share of the market in the coming years. Utility-scale wind generating projects need a plethora of land, building, and other permissions such as the careful management of relationships with many stakeholders. Such scale wind turbines are often founded in huge and multi-turbine wind farms that are linked to the country's transmission infrastructure. However, the commercial segment is projected to account for significant market share in the coming years due to the existing challenges in using a wind turbine leading to a shortage of land and high cost associated with them.

Thailand Wind Energy Market applications

Turbine segment to grow at a high rate during the forecast period

Based on components, the Thailand wind energy market is segregated into support structure, electrical infrastructure, turbine, and others. The turbine segment is expected to grow at a high rate during the projected period owing to the availability of raw materials, upgrading turbine technology, and decreasing operational costs. Furthermore, turbine manufacturers are increasing their R&D investments in order to improve turbine efficiency and minimize noise pollution, which further push the segment growth.

Segments

Segments Covered in the Report
The Thailand wind energy market has been segmented on the basis of
Deployments

  • Offshore
  • Onshore

Applications

  • Commercial
  • Residential
  • Utility
  • Industrial

Components

  • Support Structure
  • Electrical Infrastructure
  • Turbine
  • Others

Key Players

  • Electricity Generating PCL
  • Wind Energy Holding Co Ltd.
  • GOLDWIND/Shs A Vtg
  • Energy Absolute PLC
  • Siemens Gamesa Renewable Energy SA

 

Competitive Landscape

Key players competing in the Thailand wind energy market are Electricity Generating PCL; Wind Energy Holding Co Ltd; GOLDWIND/Shs A Vtg; Energy Absolute PLC; and Siemens Gamesa Renewable Energy SA. Companies are putting more emphasis on R&D programs to create innovative products and gain a competitive advantage. Siemens Gamesa, for example, took steps in March 2020 to expand its business segment of wind turbine production, installation, and servicing.

Thailand Wind Energy Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Wind Energy Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Wind Energy Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Wind Energy Market - Supply Chain
  4.5. Global Wind Energy Market Forecast
     4.5.1. Wind Energy Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Wind Energy Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Wind Energy Market Absolute $ Opportunity
5. Global Wind Energy Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Wind Energy Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Wind Energy Demand Share Forecast, 2019-2026
6. North America Wind Energy Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Wind Energy Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Wind Energy Demand Share Forecast, 2019-2026
7. Latin America Wind Energy Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Wind Energy Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Wind Energy Demand Share Forecast, 2019-2026
8. Europe Wind Energy Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Wind Energy Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Wind Energy Demand Share Forecast, 2019-2026
9. Asia Pacific Wind Energy Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Wind Energy Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Wind Energy Demand Share Forecast, 2019-2026
10. Middle East & Africa Wind Energy Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Wind Energy Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Wind Energy Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Wind Energy Market: Market Share Analysis
  11.2. Wind Energy Distributors and Customers
  11.3. Wind Energy Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Electricity Generating PCL
     11.4.2. Wind Energy Holding Co Ltd.
     11.4.3. GOLDWIND/Shs A Vtg
     11.4.4. Energy Absolute PLC
     11.4.5. Siemens Gamesa Renewable Energy SA

Segments Covered in the Report
The Thailand wind energy market has been segmented on the basis of
Deployments

  • Offshore
  • Onshore

Applications

  • Commercial
  • Residential
  • Utility
  • Industrial

Components

  • Support Structure
  • Electrical Infrastructure
  • Turbine
  • Others

Key Players

  • Electricity Generating PCL
  • Wind Energy Holding Co Ltd.
  • GOLDWIND/Shs A Vtg
  • Energy Absolute PLC
  • Siemens Gamesa Renewable Energy SA

 

Key players competing in the Thailand wind energy market are Electricity Generating PCL; Wind Energy Holding Co Ltd; GOLDWIND/Shs A Vtg; Energy Absolute PLC; and Siemens Gamesa Renewable Energy SA. Companies are putting more emphasis on R&D programs to create innovative products and gain a competitive advantage. Siemens Gamesa, for example, took steps in March 2020 to expand its business segment of wind turbine production, installation, and servicing.

Thailand Wind Energy Market keyplayers

Buy Report