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Wind Energy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global wind energy market reached a value of US$ 76.17 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 123.24 Billion by 2027, exhibiting a growth rate (CAGR) of 8.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor. 

Wind energy is a clean and renewable energy source utilized for generating electricity through a wind turbine that converts kinetic energy into mechanical energy. It does not impact the environment like fossil fuels and other conventional energy resources that rely on combustion and emit nitrogen oxide (NO) and sulfur dioxide (SO2). Besides this, as it is sustainable, cost-effective and readily available, wind energy finds extensive applications in the commercial, industrial, and residential sectors worldwide.

Wind Energy Market Trends:

There is currently a considerable increase in the adoption of renewable energy sources on account of rising environmental concerns and stringent regulations imposed by governments of various countries. This, in confluence with the surging consumption of energy due to rapid urbanization and significant reliance on electronics, represents one of the key factors impelling the growth of the market. Moreover, wind acts as a convenient resource for generating energy in remote locations wherein conventional power lines cannot be extended. It can also help stabilize the cost of electricity and reduce supply disruptions. Apart from this, improvements in the performance and reduction in the prices of wind power technologies are driving the utilization of wind energy. In addition, the rising need for wind energy is offering numerous long-term employment opportunities in wind turbine component manufacturing, construction and installation, maintenance and operations, legal and marketing services, and transportation and logistics. Besides this, large wind turbines are increasingly being installed in power distribution networks around the world. This, coupled with the rising number of onshore and offshore wind farms, is propelling the market growth. The growing investments in upcoming wind power projects are anticipated to influence the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global wind energy market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, rating, installation, turbine type and application.

Breakup by Component:

  • Turbine
  • Support Structure
  • Electrical Infrastructure
  • Others
     

Breakup by Rating:

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

Breakup by Installation:

  • Offshore
  • Onshore
     

Breakup by Turbine Type:

  • Horizontal Axis
  • Vertical Axis
     

Breakup by Application:

  • Utility
  • Industrial
  • Commercial
  • Residential
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Ameren Corporation, Avangrid, Inc. (Iberdrola S.A), Dnv (Det Norske Veritas group), Enercon GmbH, General Electric Company, Goldwind, NextEra Energy Resources, LLC, Nordex SE, Siemens AG, Vestas Wind Systems A/S, Wind World (India) Limited and Xcel Energy Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Component, Rating, Installation, Turbine Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ABB Ltd., Ameren Corporation, Avangrid, Inc. (Iberdrola S.A), Dnv (Det Norske Veritas group), Enercon GmbH, General Electric Company, Goldwind, NextEra Energy Resources, LLC, Nordex SE, Siemens AG, Vestas Wind Systems A/S, Wind World (India) Limited and Xcel Energy Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
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:

  • How has the global wind energy market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global wind energy market?
  • What are the key regional markets?
  • What is the breakup of the market based on the component?
  • What is the breakup of the market based on the rating?
  • What is the breakup of the market based on the installation?
  • What is the breakup of the market based on the turbine type?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global wind energy market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Wind Energy Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Component
    6.1    Turbine
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Support Structure
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Electrical Infrastructure
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Others
        6.4.1 Market Trends
        6.4.2 Market Forecast
7    Market Breakup by Rating
    7.1    ≤ 2 MW
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    >2 ≤ 5 MW
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    >5 ≤ 8 MW
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    >8 ≤ 10 MW
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    >10 ≤ 12 MW
        7.5.1 Market Trends
        7.5.2 Market Forecast
    7.6    > 12 MW
        7.6.1 Market Trends
        7.6.2 Market Forecast
8    Market Breakup by Installation
    8.1    Offshore
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Onshore
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Breakup by Turbine Type
    9.1    Horizontal Axis
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Vertical Axis
        9.2.1 Market Trends
        9.2.2 Market Forecast
10    Market Breakup by Application
    10.1    Utility
        10.1.1 Market Trends
        10.1.2 Market Forecast
    10.2    Industrial
        10.2.1 Market Trends
        10.2.2 Market Forecast
    10.3    Commercial
        10.3.1 Market Trends
        10.3.2 Market Forecast
    10.4    Residential
        10.4.1 Market Trends
        10.4.2 Market Forecast
11    Market Breakup by Region
    11.1    North America
        11.1.1 United States
           11.1.1.1 Market Trends
           11.1.1.2 Market Forecast
        11.1.2 Canada
           11.1.2.1 Market Trends
           11.1.2.2 Market Forecast
    11.2    Asia-Pacific
        11.2.1 China
           11.2.1.1 Market Trends
           11.2.1.2 Market Forecast
        11.2.2 Japan
           11.2.2.1 Market Trends
           11.2.2.2 Market Forecast
        11.2.3 India
           11.2.3.1 Market Trends
           11.2.3.2 Market Forecast
        11.2.4 South Korea
           11.2.4.1 Market Trends
           11.2.4.2 Market Forecast
        11.2.5 Australia
           11.2.5.1 Market Trends
           11.2.5.2 Market Forecast
        11.2.6 Indonesia
           11.2.6.1 Market Trends
           11.2.6.2 Market Forecast
        11.2.7 Others
           11.2.7.1 Market Trends
           11.2.7.2 Market Forecast
    11.3    Europe
        11.3.1 Germany
           11.3.1.1 Market Trends
           11.3.1.2 Market Forecast
        11.3.2 France
           11.3.2.1 Market Trends
           11.3.2.2 Market Forecast
        11.3.3 United Kingdom
           11.3.3.1 Market Trends
           11.3.3.2 Market Forecast
        11.3.4 Italy
           11.3.4.1 Market Trends
           11.3.4.2 Market Forecast
        11.3.5 Spain
           11.3.5.1 Market Trends
           11.3.5.2 Market Forecast
        11.3.6 Russia
           11.3.6.1 Market Trends
           11.3.6.2 Market Forecast
        11.3.7 Others
           11.3.7.1 Market Trends
           11.3.7.2 Market Forecast
    11.4    Latin America
        11.4.1 Brazil
           11.4.1.1 Market Trends
           11.4.1.2 Market Forecast
        11.4.2 Mexico
           11.4.2.1 Market Trends
           11.4.2.2 Market Forecast
        11.4.3 Others
           11.4.3.1 Market Trends
           11.4.3.2 Market Forecast
    11.5    Middle East and Africa
        11.5.1 Market Trends
        11.5.2 Market Breakup by Country
        11.5.3 Market Forecast
12    SWOT Analysis
    12.1    Overview
    12.2    Strengths
    12.3    Weaknesses
    12.4    Opportunities
    12.5    Threats
13    Value Chain Analysis
14    Porters Five Forces Analysis

    14.1    Overview
    14.2    Bargaining Power of Buyers
    14.3    Bargaining Power of Suppliers
    14.4    Degree of Competition
    14.5    Threat of New Entrants
    14.6    Threat of Substitutes
15    Price Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Key Players
    16.3    Profiles of Key Players
        16.3.1    ABB Ltd.
           16.3.1.1 Company Overview
           16.3.1.2 Product Portfolio
           16.3.1.3 Financials
           16.3.1.4 SWOT Analysis
        16.3.2    Ameren Corporation
           16.3.2.1 Company Overview
           16.3.2.2 Product Portfolio
           16.3.2.3 Financials
           16.3.2.4 SWOT Analysis
        16.3.3    Avangrid Inc. (Iberdrola S.A)
           16.3.3.1 Company Overview
           16.3.3.2 Product Portfolio
           16.3.3.3 Financials
        16.3.4    Dnv (Det Norske Veritas group)
           16.3.4.1 Company Overview
           16.3.4.2 Product Portfolio
        16.3.5    Enercon GmbH
           16.3.5.1 Company Overview
           16.3.5.2 Product Portfolio
           16.3.5.3 SWOT Analysis
        16.3.6    General Electric Company
           16.3.6.1 Company Overview
           16.3.6.2 Product Portfolio
           16.3.6.3 Financials
           16.3.6.4 SWOT Analysis
        16.3.7    Goldwind
           16.3.7.1 Company Overview
           16.3.7.2 Product Portfolio
        16.3.8    NextEra Energy Resources LLC
           16.3.8.1 Company Overview
           16.3.8.2 Product Portfolio
           16.3.8.3 Financials
           16.3.8.4 SWOT Analysis
        16.3.9    Nordex SE 
           16.3.9.1 Company Overview
           16.3.9.2 Product Portfolio
           16.3.9.3 Financials
           16.3.9.4 SWOT Analysis
        16.3.10    Siemens AG
           16.3.10.1 Company Overview
           16.3.10.2 Product Portfolio
           16.3.10.3 Financials
           16.3.10.4 SWOT Analysis
        16.3.11    Vestas Wind Systems A/S
           16.3.11.1 Company Overview
           16.3.11.2 Product Portfolio
           16.3.11.3 Financials
           16.3.11.4 SWOT Analysis
        16.3.12    Wind World (India) Limited
           16.3.12.1 Company Overview
           16.3.12.2 Product Portfolio
        16.3.13    Xcel Energy Inc.
           16.3.13.1 Company Overview
           16.3.13.2 Product Portfolio
           16.3.13.3 Financials
           16.3.13.4 SWOT Analysis

List of Figures

Figure 1: Global: Wind Energy Market: Major Drivers and Challenges
Figure 2: Global: Wind Energy Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Wind Energy Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Wind Energy Market: Breakup by Component (in %), 2021
Figure 5: Global: Wind Energy Market: Breakup by Rating (in %), 2021
Figure 6: Global: Wind Energy Market: Breakup by Installation (in %), 2021
Figure 7: Global: Wind Energy Market: Breakup by Turbine Type (in %), 2021
Figure 8: Global: Wind Energy Market: Breakup by Application (in %), 2021
Figure 9: Global: Wind Energy Market: Breakup by Region (in %), 2021
Figure 10: Global: Wind Energy (Turbine) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Wind Energy (Turbine) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Wind Energy (Support Structure) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Wind Energy (Support Structure) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Wind Energy (Electrical Infrastructure) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Wind Energy (Electrical Infrastructure) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Wind Energy (Other Components) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Wind Energy (Other Components) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Wind Energy (≤ 2 MW) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Wind Energy (≤ 2 MW) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Wind Energy (>2 ≤ 5 MW) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Wind Energy (>2 ≤ 5 MW) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Wind Energy (>5 ≤ 8 MW) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Wind Energy (>5 ≤ 8 MW) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Wind Energy (>8 ≤ 10 MW) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Wind Energy (>8 ≤ 10 MW) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Wind Energy (>10 ≤ 12 MW) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Wind Energy (>10 ≤ 12 MW) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Wind Energy (> 12 MW) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Wind Energy (> 12 MW) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Wind Energy (Offshore) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Wind Energy (Offshore) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Wind Energy (Onshore) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Wind Energy (Onshore) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Wind Energy (Horizontal Axis) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Wind Energy (Horizontal Axis) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Global: Wind Energy (Vertical Axis) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Wind Energy (Vertical Axis) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Global: Wind Energy (Utility) Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Global: Wind Energy (Utility) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Global: Wind Energy (Industrial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Global: Wind Energy (Industrial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Global: Wind Energy (Commercial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Global: Wind Energy (Commercial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Global: Wind Energy (Residential) Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Global: Wind Energy (Residential) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: North America: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: North America: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: United States: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: United States: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Canada: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Canada: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Asia-Pacific: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Asia-Pacific: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: China: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: China: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Japan: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Japan: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: India: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: India: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: South Korea: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: South Korea: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Australia: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Australia: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Indonesia: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Indonesia: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Others: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Others: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Europe: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Europe: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Germany: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Germany: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: France: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: France: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: United Kingdom: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: United Kingdom: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Italy: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Italy: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Spain: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Spain: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Russia: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: Russia: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Others: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 83: Others: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 84: Latin America: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 85: Latin America: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 86: Brazil: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 87: Brazil: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 88: Mexico: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 89: Mexico: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 90: Others: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 91: Others: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 92: Middle East and Africa: Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
Figure 93: Middle East and Africa: Wind Energy Market: Breakup by Country (in %), 2021
Figure 94: Middle East and Africa: Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 95: Global: Wind Energy Industry: SWOT Analysis
Figure 96: Global: Wind Energy Industry: Value Chain Analysis
Figure 97: Global: Wind Energy Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Wind Energy Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Wind Energy Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Wind Energy Market Forecast: Breakup by Rating (in Million US$), 2022-2027
Table 4: Global: Wind Energy Market Forecast: Breakup by Installation (in Million US$), 2022-2027
Table 5: Global: Wind Energy Market Forecast: Breakup by Turbine Type (in Million US$), 2022-2027
Table 6: Global: Wind Energy Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 7: Global: Wind Energy Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 8: Global: Wind Energy Market: Competitive Structure
Table 9: Global: Wind Energy Market: Key Players


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