Wind Turbine Market by Axis Type (Horizontal and Vertical), by Installation (Onshore and Offshore), by Component (Rotator Blade, Gearbox, Generator, Nacelle, and Others), and by Application (Industrial, Commercial, Residential, and Utility): Global Opportunity Analysis and Industry Forecast 2021–2030
The global wind turbine market was valued at $53.4 billion in 2020, and is projected to reach $98.4 billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030
A wind turbine is a device that converts kinetic energy of wind into electrical energy. The blades of a wind turbine turn between revolute 13-20 times per minute, depending on their technology, at a constant or variable velocity, where the velocity of rotor varies in relation to the velocity of wind to reach a greater efficiency. Moreover, wind turbines have an average service life of over 25, years and rapid evolution of wind technology has led to increase in the durability of wind turbines. Furthermore, increase in governmental tariffs along with market assisting programs have increased the demand for wind energy as an efficient and alternative solution to decrease the carbon emissions. In addition, rise in R&D in wind power energy has created lucrative opportunities for the market. The factors that drive the market growth are increase in awareness toward boosting green energy, rise in energy consumption across the globe, growth in offshore wind energy, and cost & performance efficiency of wind turbine.
Moreover, the U.S. Department of Energy's Wind Energy Technologies Office (WETO) funds research nationwide to enable the development and deployment of offshore wind technologies that can capture wind resources off the coasts of the U.S. and convert that wind into electricity
The wind turbine market is segmented on the basis of axis type, installation, component, application, and region. Depending on axis type, the market is categorized into horizontal and vertical. According to installation, it is divided into onshore and offshore. On the basis of component, it is classified into rotator blade, gearbox, generator, nacelle, and others. As per application, it is fragmented into industrial, commercial, residential, and utility. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global wind turbine market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include Enercon GmbH, Gamesa, General Electric, Goldwind, Guodian United Power Technology Company Ltd., Ming Yang, Siemens, Sinovel Wind Group Co. Ltd., Suzlon Energy Ltd., and Vestas Wind Systems A/S.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive qualitative and quantitative analysis of the current market trends and future estimations of the global wind turbine from 2021 to 2030 to determine the prevailing opportunities.
A comprehensive analysis of the factors that drive and restrict the wind turbine growth is provided.
Estimations and forecast are based on factors impacting the wind turbine market growth, in terms of value.
Profiles of leading players operating in the wind turbine market are provided to understand the global competitive scenario.
The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable wind turbine market growth.
KEY MARKET SEGMENTS
By Axis Type
Horizontal
Vertical
By Installation
Onshore
Offshore
By Component
Rotator Blade
Gearbox
Generator
Nacelle
Others
By Application
Industrial
Commercial
Residential
Utility
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Companies are taken from old report
Enercon GmbH
Gamesa
General Electric
Goldwind
Guodian United Power Technology Company Ltd.
Ming Yang
Siemens
Sinovel Wind Group Co. Ltd.
Suzlon Energy Ltd.
Vestas Wind Systems A/S
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