Wind Turbines: Technologies, Applications and Global Markets
The global market for wind turbine reached $51.5 billion in 2017 and should reach $71.2 billion by 2022, growing at a compound annual growth rate (CAGR) of 6.7% from 2017 through 2022.
- 52 data tables and 6 additional tables
- An overview of the global market for wind turbines
- Analyses of global market trends, with data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) through 2022
- Coverage of key components, including rotor, tower, gearbox, generators, and speed control system
- In-depth analysis of the wind turbine industry.
- Segmentation of the market by region, technology, application, type, and component
- Evaluation of the market's dynamics, specifically growth drivers and inhibitors, as well as government support and regulations
- Company profiles of major players in the industry, including: Abb Ltd., Bilfinger Offshore Wind Energy, CLP Group (China Light And Power Group), EDP Renewables North America LLC, Guodian United Power Technology Co. Ltd., Mainstream Renewable Power Ltd., Vestas Wind Systems A/S, Zf Wind Power Antwerpen
The scope of this study encompasses the major wind turbine markets and their component markets. Each market is analyzed to determine its current status (2016), and the future market is forecast (2017 through 2022). Technological issues including the latest trends are discussed. Other factors such as rising energy costs, changing government regulations, and improving efficiencies are reviewed. The wind energy industry is evaluated on a nationwide basis, both from a manufacturing and energy capacity point of view. The report also examines government support and activities of wind industry organizations.
The market size for future onshore and offshore wind power generation has been estimated by studying the possible future technology trends in the market. This report analyzes and forecasts the market volume and revenue for the onshore and offshore wind energy markets and provides an analysis of the market size of wind power in terms of capacity (megawatt, or MW) and revenue in U.S. billion dollars (USD billions).
Estimated values used are based on manufacturers’ total revenues. Projected and forecasted revenue values are in constant U.S. dollars, unadjusted for inflation.
The author, Sanjana Gupta, brings to BCC Research approximately seven years of experience in the global wind industry with expertise and a strong commercial acumen. She is a results-oriented leader with proven success in pursuing and managing multimillion-dollar consulting service deals across diversified service sectors (energy industry, oil and gas, coal, nuclear, solar aerospace, adhesives, etc.). She has designed and run leading-edge operations for numerous Fortune 500 companies. She has a master’s degree in business management in marketing and finance.
The global wind energy market was worth $130 billion in 2013 and $165.5 billion in 2014. The market is expected to grow at a compound annual growth rate (CAGR) of 7.2% between 2015 and 2020 resulting in $176.2 billion in 2015 and $250 billion in 2020.
- An overview of the global markets for wind energy.
- Analyses of global market trends, with data from 2014, estimates for 2015, and projections of compound annual growth rates (CAGRs) through 2020.
- Coverage of factors such as rising energy costs, changing government regulations and improving efficiencies.
- A look at the industry from a manufacturing as well as an energy capacity point of view.
- Consideration of the industry in terms of both onshore and offshore perspectives.
- Evaluation of the market's dynamics, specifically growth drivers and inhibitors, as well as opportunities.
- Comprehensive profiles of major players in the wind turbine industry.
- The U.S. market for wind turbines generated $7.9 billion in 2007. This is expected to reach $11.2 billion by the end of 2008 and $61.0 billion in 2013, for a compound annual growth rate (CAGR) of 40.0%.
- Texas represents the largest market segment, worth $2.4 billion in 2007 and an anticipated $3.0 billion in 2008. This should reach $15.2 billion in 2013, a CAGR of 38.0%.
- California is expected to be the fastest growing segment, generating $95.0 million in 2007 and an expected $676.0 million in 2008. This is expected to grow at a CAGR of 91% to reach $17.1 billion in 2013.