Wind Energy Market to grow by USD 41.75 Bn; Driven by the need for sustainable energy and increasing focus on energy security - Technavio

NEW YORK, Nov. 16, 2022 /PRNewswire/ -- The "Wind Energy Market by Type (Onshore and Offshore) and Geography (APAC, North America, Europe, South America, and Middle East and Africa) - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the wind energy market between 2021 and 2026 is USD 41.75 billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Download a Free PDF Report Sample.

Key Market Dynamics:

• Market Driver: The market is driven by the need for sustainable energy and increasing focus on energy security. The global population is growing, which has resulted in increased industrial and economic activity. Most of the power is generated from fossil fuels, which affects the environment. Globally, the primary source of generating electricity has been fossil fuel, which accounts for more than 65% of the share. However, the reserves of fossil fuels are limited, and the use of fossil fuels causes greenhouse gas (GHG) emissions, which affect the environment. Therefore, the need to have a sustainable source of energy that does not affect the environment has resulted in the use of alternative sources to generate electricity. Such factors increased the demand for wind energy which will drive the growth of the global wind energy market during the forecast period.
• Market Challenges: The competition from fossil fuels is a major challenge in the market. Owing to the lack of investments, numerous developing countries are unable to increase their wind power capacity. Owing to the lack of stable and supportive government policies and competition, the cost of wind power generation is high. For instance, Indonesia is a prospective market for wind power generation. However, wind power generating companies in such countries face challenges when installing wind turbines due to the lack of government tariffs and support, which affect their profit. Concerns about the effects of climate change are encouraging numerous countries to reduce the use of fossil fuels and use substitutes with low emissions. However, concerns about grid stability arise when the contribution from intermittent renewable power sources such as wind and solar is high. Therefore, most countries depend on fossil fuel-based power plants due to the irregularity associated with wind power generation. Get detailed insights into the impact of drivers, trends, and challenges on the growth of the global market. Download a Free Sample Report

Major Revenue-generating Segment:

By type, the market is analyzed across onshore and offshore segments. Wind energy is expected to become one of the important renewable energy sources globally during the forecast period, and onshore wind is an essential part of this transition. The growth in onshore wind installed capacity is expected to increase during the forecast period, owing to the latest technological developments in wind turbines. Also, growing investments in onshore wind projects and the increasing onshore wind energy installations are expected to drive the growth of the segment during the forecast period.

Key Growth Region:

53% of the market growth will come from APAC during the forecast period. The major growth of the market in focus in APAC is due to the financial incentive programs such as feed-in-tariffs (FiTs) in countries such as China, Japan, Thailand, India, and Vietnam. The increasing GHG emissions in China and India shifted focus toward renewables, such as wind energy, for power generation. Initiatives taken by many countries in APAC and the pace of execution indicate an increased focus on replacing fossil fuels with wind power. Additionally, in recent times, the contract prices of electricity generation through solar and wind energy are comparable to coal tariffs in some states of India, which further increased the government's efforts to establish renewable projects, such as wind farms. Such factors are expected to drive the growth of the regional wind energy market during the forecast period. Understand how the purchase of the report can have a direct impact on your revenue. Download a Free Sample Report

Key Vendors Covered

• ABB Ltd.
• Acciona SA
• Adani Green Energy Ltd.
• Ameresco Inc.
• EDF Renewables
• General Electric Co.
• Inox Wind Ltd.
• LM Wind Power
• Nextera Energy Inc.
• Northland Power Inc.
• Orsted AS
• ReGen Powertech Pvt Ltd.
• Renewable Energy Systems Ltd.
• SB WIND ENERGY
• Siemens Gamesa Renewable Energy SA
• Sinovel Wind Group Co. Ltd.
• Suzlon Energy Ltd
• Tata Power Co. Ltd.
• Vensys Energy AG
• Vestas Wind Systems AS
• To gain access to more vendor profiles with their key offerings available with Technavio, Buy Now!

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Related Reports:

• The wind energy market share in Austria is expected to increase by 165.58 megawatts from 2021 to 2026, at a CAGR of 9.24%. The rising investments in wind energy projects is notably driving the wind energy market growth in Austria, although factors such as adoption of alternative renewable energy sources may impede the market growth.
• The global wind power systems market is projected to grow by USD 49.52 billion with a CAGR of 6.57% during the forecast period 2021 to 2026. The increasing investments in renewable energy are notably driving the global wind power systems market growth, although factors such as competition from fossil fuels may impede the market growth.

Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

• 5.1 Market segments 
• Exhibit 24: Chart on Type - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Type - Market share 2021-2026 (%)

• 5.2 Comparison by Type 
• Exhibit 26: Chart on Comparison by Type
• Exhibit 27: Data Table on Comparison by Type

• 5.3 Onshore - Market size and forecast 2021-2026
• Exhibit 28: Chart on Onshore - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Onshore - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Onshore - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Onshore - Year-over-year growth 2021-2026 (%)

• 5.4 Offshore - Market size and forecast 2021-2026
• Exhibit 32: Chart on Offshore - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Offshore - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Offshore - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Offshore - Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Type 
• Exhibit 36: Market opportunity by Type ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 38: Chart on Market share by geography 2021-2026 (%)
• Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 40: Chart on Geographic comparison
• Exhibit 41: Data Table on Geographic comparison

• 7.3 APAC - Market size and forecast 2021-2026
• Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.4 North America - Market size and forecast 2021-2026
• Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.5 Europe - Market size and forecast 2021-2026
• Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.6 South America - Market size and forecast 2021-2026
• Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026
• Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 China - Market size and forecast 2021-2026
• Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.10 Japan - Market size and forecast 2021-2026
• Exhibit 70: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.11 Canada - Market size and forecast 2021-2026
• Exhibit 74: Chart on Canada - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on Canada - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Canada - Year-over-year growth 2021-2026 (%)

• 7.12 India - Market size and forecast 2021-2026
• Exhibit 78: Chart on India - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on India - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on India - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on India - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 83: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape 
• Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 85: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 86: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 87: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 88: Matrix on vendor position and classification

• 10.3 ABB Ltd. 
• Exhibit 89: ABB Ltd. - Overview
• Exhibit 90: ABB Ltd. - Business segments
• Exhibit 91: ABB Ltd. - Key news
• Exhibit 92: ABB Ltd. - Key offerings
• Exhibit 93: ABB Ltd. - Segment focus

• 10.4 Acciona SA 
• Exhibit 94: Acciona SA - Overview
• Exhibit 95: Acciona SA - Business segments
• Exhibit 96: Acciona SA - Key news
• Exhibit 97: Acciona SA - Key offerings
• Exhibit 98: Acciona SA - Segment focus

• 10.5 EDF Renewables 
• Exhibit 99: EDF Renewables - Overview
• Exhibit 100: EDF Renewables - Product / Service
• Exhibit 101: EDF Renewables - Key offerings

• 10.6 General Electric Co. 
• Exhibit 102: General Electric Co. - Overview
• Exhibit 103: General Electric Co. - Business segments
• Exhibit 104: General Electric Co. - Key news
• Exhibit 105: General Electric Co. - Key offerings
• Exhibit 106: General Electric Co. - Segment focus

• 10.7 Nextera Energy Inc. 
• Exhibit 107: Nextera Energy Inc. - Overview
• Exhibit 108: Nextera Energy Inc. - Business segments
• Exhibit 109: Nextera Energy Inc. - Key news
• Exhibit 110: Nextera Energy Inc. - Key offerings
• Exhibit 111: Nextera Energy Inc. - Segment focus

• 10.8 ReGen Powertech Pvt Ltd. 
• Exhibit 112: ReGen Powertech Pvt Ltd. - Overview
• Exhibit 113: ReGen Powertech Pvt Ltd. - Product / Service
• Exhibit 114: ReGen Powertech Pvt Ltd. - Key offerings

• 10.9 Sinovel Wind Group Co. Ltd. 
• Exhibit 115: Sinovel Wind Group Co. Ltd. - Overview
• Exhibit 116: Sinovel Wind Group Co. Ltd. - Product / Service
• Exhibit 117: Sinovel Wind Group Co. Ltd. - Key offerings

• 10.10 Suzlon Energy Ltd 
• Exhibit 118: Suzlon Energy Ltd - Overview
• Exhibit 119: Suzlon Energy Ltd - Business segments
• Exhibit 120: Suzlon Energy Ltd - Key offerings
• Exhibit 121: Suzlon Energy Ltd - Segment focus

• 10.11 Vensys Energy AG 
• Exhibit 122: Vensys Energy AG - Overview
• Exhibit 123: Vensys Energy AG - Product / Service
• Exhibit 124: Vensys Energy AG - Key offerings

• 10.12 Vestas Wind Systems AS 
• Exhibit 125: Vestas Wind Systems AS - Overview
• Exhibit 126: Vestas Wind Systems AS - Business segments
• Exhibit 127: Vestas Wind Systems AS - Key news
• Exhibit 128: Vestas Wind Systems AS - Key offerings
• Exhibit 129: Vestas Wind Systems AS - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 130: Inclusions checklist
• Exhibit 131: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 132: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 133: Research methodology
• Exhibit 134: Validation techniques employed for market sizing
• Exhibit 135: Information sources

• 11.5 List of abbreviations 
• Exhibit 136: List of abbreviations

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