Wind Turbines: Technologies, Applications and Global Markets
The global market for wind turbines is estimated to increase from $85.3 billion in 2022 to reach $116.6 billion by 2027, at a compound annual growth rate (CAGR) of 6.5% from 2022 through 2027.
- 35 data tables and 46 additional tables
- An overview of the global market for wind turbines
- Analyses of global market trends, with historic market revenue data from 2021 and 2022, estimates for 2023, forecasts for 2025, and projections of compound annual growth rates (CAGRs) through 2027
- Coverage of history, evolution, applications, and benefits of wind turbine and discussion on market opportunities, major issues and trends affecting the industry
- Segmentation of the market by turbine type, installation, grid connectivity, service, end use, capacity rating, and region
- Insight into the recent industry structure, regulations and policies, pipeline products, and the vendor landscape of the market leading participants
- Company profiles of the leading global players, including Vestas Wind Systems A/S, Siemens Gamesa, General Electric, Ming Yang Smart Energy Group Co. Ltd., Envision Group, and Nordex SE
This report analyzes different turbine types, installations type, grid connectivity, end use, capacity rating, end user, and regional market development of wind turbines. Furthermore, we also segment the market analysis by major countries in this report, such as the U.S., China, Germany, and others where the opportunities for wind turbines are lucrative.
The report is prepared in a simple, easy-to-understand format; tables and figures are included to illustrate historical, current, and future market scenarios. The report also covers leading companies with information on product types, business footprint, revenue, etc. We have also included a list of other companies in global and regional markets. Also, the report includes a patent analysis for the wind turbines market, which represents a significant investment area for investors.
The report incorporates the impact of COVID-19 and the Russia-Ukraine war on the global and regional markets.
In this report 2021 is used as the market’s base year, estimated values are provided for 2022 and market values are forecast for the period of 2022 to 2027. All market values are provided in millions of dollars, and market shares and CAGRs are provided in percentages.
Frequently Asked Questions (FAQs)
- Growing demand for renewable power sources.
- Supportive government regulations & policies for wind energy.
- Increasing demand for electricity.
- Increasing investment in wind energy projects.
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
|Base year considered||2021|
|Forecast period considered||2022-2027|
|Base year market size||$81.4 billion|
|Market size forecast||$116.0 billion|
|Growth rate||CAGR of 6.4% for the forecast period of 2022-2027|
|Units considered||$ Millions|
|Segments covered||turbine types, installations type, grid connectivity, end use, capacity rating, end user, and region|
|Regions covered||North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW)|
|Countries covered||United States, Canada, Mexico, France, Turkey, Denmark, U.K., Netherlands, Sweden Germany, China, Japan, Australia, India, and Vietnam|
|Key Market Drivers||
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 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.