Canada Wind Energy Market

Canada Wind Energy Market Overview:

The Canada wind energy market size reached 18 Gigawatt in 2024. Looking forward, IMARC Group expects the market to reach 40 Gigawatt by 2033, exhibiting a growth rate (CAGR) of 8.30% during 2025-2033. The market is experiencing significant growth due to the imposition of supportive government policies, availability of abundant wind resources, an increasing demand for clean energy, rapid technological advancements in turbine efficiency, and heightened corporate investments.

Canada Wind Energy Market Trends:

Implementation of Government Policies and Incentives

The increasing government support for wind energy through policies, subsidies, and tax incentives to reduce carbon emissions and boost renewable energy adoption is one of the major factors catalyzing the Canada wind energy market. For instance, in October 2024, Bill C-49 announced that it has received Royal Assent, enabling offshore wind projects in Atlantic Canada. It expands offshore boards' mandates to include renewable energy, aiming for 5 GW of power production. Moreover, the introduction of carbon pricing plan by the government, which requires industries to reduce emissions or pay a carbon tax, thus motivating energy producers to transition towards wind energy, is fueling the market growth. Additionally, provincial programs like Ontario’s Feed-in Tariff (FIT) are playing an instrumental role in encouraging investment in wind farms by guaranteeing long-term contracts at favorable rates. These policies are designed to meet the country’s emission reduction targets and to stimulate the renewable energy sector that offers stability and predictability, thereby allowing businesses to make significant investments in wind energy projects across Canada.

Growing Abundance of Wind Resources

The rising availability of vast wind resources across the country that offer consistent wind speeds, making them ideal locations for large-scale wind farms, is stimulating the market growth. As per several industry reports, Canada generated 36 terawatt-hours of electricity from wind energy in 2022, accounting for 5.7% of total electricity generation. This was enough to power some three million Canadian homes. This abundance of wind makes it economically feasible to expand wind energy production. Furthermore, the availability of vast land for wind farm development enhances the opportunity for scaling up wind power, thus boosting the expansion of the industry.

Increasing Demand for Clean Energy

The rising awareness of climate change that encourages consumers and businesses to seek ways to reduce their carbon footprints is positively impacting the market growth. Moreover, the growing focus of corporations on signing power purchase agreements (PPAs) for wind energy to meet their renewable energy targets, is fueling the market growth. It helps stabilize the demand for wind energy and ensures long-term contracts for wind farm developers. For instance, in December 2024, Canada has extended its net-zero electricity grid target to 2050 with finalized Clean Electricity Regulations. The plan aims to reduce 181Mt of carbon emissions and relies on clean sources like wind and hydropower. Additionally, the growing incorporation of renewable energy into the energy mix, thus reducing reliance on fossil fuels and nuclear power, is contributing to the market growth. Along with this, the increasing support from consumers for renewable energy, influencing political decisions to prioritize clean energy investments, is enhancing the market growth.

Canada Wind Energy Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region/country level for 2025-2033. Our report has categorized the market based on component, rating, installation, turbine type, and application.

Component Insights:

• Turbine
• Support Structure
• Electrical Infrastructure
• Others

The report has provided a detailed breakup and analysis of the market based on component. This includes turbine, support structure, electrical infrastructure, and others.

Rating Insights:

•  ≤ 2 MW
•  >2 ≤ 5 MW
•  >5 ≤ 8 MW
• >8 ≤ 10 MW
• >10 ≤ 12 MW
• >12 MW

A detailed breakup and analysis of the market based on the rating have also been provided in the report. This includes ≤ 2 MW, >2 ≤ 5 MW, >5 ≤ 8 MW, >8 ≤ 10 MW, >10 ≤ 12 MW, and >12 MW.

Installation Insights:

• Offshore
• Onshore

A detailed breakup and analysis of the market based on the installation have also been provided in the report. This includes offshore and onshore.

Turbine Type Insights:

• Horizontal Axis
• Vertical Axis

A detailed breakup and analysis of the market based on the turbine type have also been provided in the report. This includes horizontal axis and vertical axis.

Application Insights:

• Utility
• Industrial
• Commercial
• Residential

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes utility, industrial, commercial, and residential.

Regional Insights:

• Ontario
• Quebec
• Alberta
• British Columbia
• Others

The report has also provided a comprehensive analysis of all the major regional markets, which include Ontario, Quebec, Alberta, British Columbia, and others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Canada Wind Energy Market News:

• In July 2024, A 347 MW order was received by Vestas to energize the Pohénégamook-Picard-Saint-Antonin-Wolastokuk (PPAW) wind project in Quebec, Canada. The order contains 56 Enventus V162-6.2 MW turbines. The scope of work includes supply, delivery, and commissioning of the turbines, as well as a multi-year Active Output Management 5000 (AOM 5000) service agreement to ensure optimized asset performance.
• In June 2024, Enbridge Inc. and Six Nations Energy Development LP announced their plans to construct the Seven Stars Energy wind project southeast of Weyburn, Saskatchewan, Canada. The consortium includes Cowessess First Nation, Métis Nation-Saskatchewan, George Gordon First Nation, Pasqua First Nation, Kahkewistahaw First Nation, and White Bear First Nations. The project is envisioned to generate an output capacity of 200MW of clean energy at the completion of the construction expected in 2027.

Canada Wind Energy Market Report Coverage:

Key Questions Answered in This Report:

• How has the Canada wind energy market performed so far and how will it perform in the coming years?
• What is the breakup of the Canada wind energy market on the basis of component?
• What is the breakup of the Canada wind energy market on the basis of rating?
• What is the breakup of the Canada wind energy market on the basis of installation?
• What is the breakup of the Canada wind energy market on the basis of turbine type?
• What is the breakup of the Canada wind energy market on the basis of application?
• What is the breakup of the Canada wind energy market on the basis of region?
• What are the various stages in the value chain of the Canada wind energy market? 
• What are the key driving factors and challenges in the Canada wind energy?
• What is the structure of the Canada wind energy market and who are the key players?
• What is the degree of competition in the Canada wind energy market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Canada wind energy market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Canada wind energy market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Canada wind energy industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.