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.
Report Attribute
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Key Statistics
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Base Year
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2024 |
Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | 18 Gigawatt |
Market Forecast in 2033 | 40 Gigawatt |
Market Growth Rate (2025-2033) | 8.30% |
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.
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:
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:
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:
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:
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:
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:
The report has also provided a comprehensive analysis of all the major regional markets, which include Ontario, Quebec, Alberta, British Columbia, and others.
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.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Gigawatt |
Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Components Covered | Turbine, Support Structure, Electrical Infrastructure, Others |
Ratings Covered | ≤ 2 MW, >2 ≤ 5 MW, >5 ≤ 8 MW, >8 ≤ 10 MW, >10 ≤ 12 MW, >12 MW |
Installations Covered | Offshore, Onshore |
Turbine Types Covered | Horizontal Axis, Vertical Axis |
Applications Covered | Utility, Industrial, Commercial, Residential |
Regions Covered | Ontario, Quebec, Alberta, British Columbia, Others |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
Key Benefits for Stakeholders: