Wind Turbine Market

Wind Turbine Market by Location of Deployment (Onshore and Offshore), Capacity (Small, Medium, and Large) and Regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021–2028

  • Report ID: CM-1377
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 3
  • No. Of Pages: 160
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  • Pub. Date: Upcoming
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The global wind turbine market size is expected to expand at a CAGR of 10% during the forecast period, 2021-2028. The growth of the market is attributed to rising energy demand along with the increasing share of renewables in the power generation mix.

Wind Turbine Market Key Takeaways

Ongoing technological advancements that have increased the capacity of wind turbines and improved floating wind turbines. These have reduced the overall cost of wind power, and have opened up new offshore locations, such as deep water, which was previously inaccessible due to lack of investment and technology.

Market Drivers, Restraints, Trends, and Opportunities

  • Rapid shift from non-renewable fossil fuels toward clean and renewable energy sources is accelerating the market growth.
  • Growing adoption of clean energy source alternative such as solar and biogas may hinder the growth of the market.
  • The integration of artificial intelligence (AI), Internet of things (IoT), robotics, and data analytics in wind turbines to enable advance condition monitoring and predictive maintenance to improve efficiency and reduce operational and maintenance costs is expected to provide lucrative opportunity for the industry players during the forecast period.

Scope of the Report

The report on the global wind turbine 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 Turbine Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Location of Deployment (Onshore and Offshore), and Capacity (Small, Medium, and Large)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

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

Key Players Covered in the Report

Vestas Wind Systems A/S, Siemens Gamesa Renewable Energy SA, General Electric Company, Nordex SE, Senvion SA

Wind Turbine Market Segment Insights

Offshore wind turbine to account a significant market share

Based on location of deployment, the market is bifurcated into onshore and offshore. The offshore segment is projected to account a significant market share during the forecast period. Declining costs and improved technology in the wind turbine industry are fueling the segment growth.

Rising energy demand in emerging countries is encouraging the shift toward the adoption of renewable energy, driving the segment growth. The adoption of offshore wind energy with advance technology is attracted the companies to heavily investment in the offshore segment.

Many companies are able to install tall wind turbines due to improvements in the wind turbine materials used, which permits the turbines to exploit higher altitude winds. Moreover, these turbines have larger blades and are able to sweep more area than the smaller turbines. Growing size of the wind turbines has lowered the cost of wind energy, indicating that it is economically competitive with fossil fuel alternatives, in some locations, such as the US, Germany, and France.

Large capacity segment to account a major market share

In terms of capacity, the market is segregated into small, medium and large. The large capacity segment is projected to account for a major market share during the forecast period. Rising use of large capacity wind turbines to meet the increasing energy demand is driving the growth of the market segment.

Wind Turbine Market By Capacity

The market in Asia Pacific to exhibit a high CAGR

On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is expected to exhibit a high CAGR during the forecast period.

According to IRENA, Asia Pacific is poised to become the world’s dominant wind market, accounting for more than 50% of onshore and 60% of offshore wind installations by 2050. Asia’s onshore wind capacity is expected to grow from 256 GW to over 2,600 GW by 2050. The large investments from countries, such as China, India, and Taiwan is propelling the regional market growth. China-based manufacturers comprise nearly 95% of the overall wind power market. The presence of government policy and incentives by the Government of China has made it a favorable hotspot for investment.

Wind Turbine Market By Regions

Segments

Segments Covered in the Report
The global wind turbine market has been segmented on the basis of

Location of Deployment
  • Onshore
  • Offshore
Capacity
  • Small
  • Medium
  • Large
Geography
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Key players
  • Vestas Wind Systems A/S
  • Siemens Gamesa Renewable Energy SA
  • General Electric Company
  • Nordex SE
  • Senvion SA

Competitive Landscape

The wind turbine market is moderately fragmented. Some of the key players in this market include Vestas Wind Systems A/S, Siemens Gamesa Renewable Energy SA, General Electric Company, Nordex SE, Senvion SA.

Wind Turbine Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Wind Turbine 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 Turbine Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Wind Turbine Market - Supply Chain
  4.5. Global Wind Turbine Market Forecast
     4.5.1. Wind Turbine Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Wind Turbine Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Wind Turbine Market Absolute $ Opportunity
5. Global Wind Turbine 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 Turbine 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 Turbine Demand Share Forecast, 2019-2026
6. North America Wind Turbine 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 Turbine 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 Turbine Demand Share Forecast, 2019-2026
7. Latin America Wind Turbine 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 Turbine 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 Turbine Demand Share Forecast, 2019-2026
8. Europe Wind Turbine 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 Turbine 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 Turbine Demand Share Forecast, 2019-2026
9. Asia Pacific Wind Turbine 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 Turbine 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 Turbine Demand Share Forecast, 2019-2026
10. Middle East & Africa Wind Turbine 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 Turbine 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 Turbine Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Wind Turbine Market: Market Share Analysis
  11.2. Wind Turbine Distributors and Customers
  11.3. Wind Turbine Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Vestas Wind Systems A/S Siemens Gamesa Renewable Energy SA General Electric Company Nordex SE Senvion SA
Segments Covered in the Report
The global wind turbine market has been segmented on the basis of

Location of Deployment
  • Onshore
  • Offshore
Capacity
  • Small
  • Medium
  • Large
Geography
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Key players
  • Vestas Wind Systems A/S
  • Siemens Gamesa Renewable Energy SA
  • General Electric Company
  • Nordex SE
  • Senvion SA

The wind turbine market is moderately fragmented. Some of the key players in this market include Vestas Wind Systems A/S, Siemens Gamesa Renewable Energy SA, General Electric Company, Nordex SE, Senvion SA.

Wind Turbine Market By Key Players

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