Norway Wind Energy Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Norwegian wind energy market is expected to register a CAGR of more than 3.15% during the forecast period (2022-2027). The COVID-19 outbreak negatively impacted the wind energy market in Norway. The global trade disruptions restricted the supply of wind energy components to Norway, which, in turn, delayed the construction of projects like the 400 MW Oyfjellet wind energy project in Norway. Factors such as supportive government policies and efforts to meet the rising power demand using renewable energy sources are significant contributors to the market's growth. On the other hand, harsh climatic conditions and other conventional energy sources like coal and natural gas are expected to restrain the Norwegian wind energy market during the forecast period.
Key HighlightsThe Norwegian wind power market is moderately consolidated. Some of the key players include Statkraft AS, TrønderEnergi AS, Siemens Gamesa Renewable Energy SA, Nordex SE, and Engie SA.
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