The wind energy market is expected to grow from US$ 156.8 billion in 2021 and it is anticipated to grow at a CAGR of 5.0% from 2022 to 2028.
Wind energy uses wind turbines to produce electricity using the kinetic energy created by wind in motion. The amount of power that can be harnessed from wind depends on the size of the turbine and the length of its blades. Wind power generation has gained a high level of attention and acceptability across the globe compared to other renewable energy technologies. New developments in technology in designing wind power blades, turbines, shafts, and other components have contributed to significant advances in wind energy penetration and in achieving optimum power from available wind. As per the International Renewable Energy Agency, the global wind installed capacity increased from 731,763 MW in 2020 to 824,874 MW in 2021. Thus, such an exponential rise in the wind installed capacity is expected to drive the wind energy market growth in the coming years.
Furthermore, the upcoming wind projects in the various emerging nations are expected to start operation by 2024 and 2025, which will further accelerate the wind power generation capacity. For instance, as per the report published by Swedish Energy Agency in March 2022, the electricity generated from wind will rise from 27.4 TWh in 2021 to 46.9 TWh by 2024 in Sweden. The published analysis says that Sweden is expected to increase wind power generation by more than 70% by 2024 compared with the level of 2021. The aim of this initiative is to reduce the country’s dependence on fossil fuels and on oil and gas supplied by Russia. In addition, Ocean Winds, a joint venture between Portugal's main utility EDP with Engie, a French company, planned to invest US$ 3.15 billion to develop offshore wind projects by 2025. The equal partners in the venture are targeting to produce ~7GW of new wind capacity. Thus, such upcoming initiatives regarding new wind projects are contributing to the wind energy market growth.
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Wind Energy Market: Strategic Insights
Market Size Value in US$ 156.8 Billion in 2021 Market Size Value by US$ 220.7 Billion by 2028 Growth rate CAGR of 5.0% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Wind Energy Market: Strategic Insights
| Market Size Value in | US$ 156.8 Billion in 2021 |
| Market Size Value by | US$ 220.7 Billion by 2028 |
| Growth rate | CAGR of 5.0% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Impact of COVID-19 Pandemic on Wind Energy Market
The COVID-19 outbreak dramatically impacted the global economy in early 2020, and the crisis hampered the business activities in manufacturing industries. However, the renewable sector was exposed to new growth opportunities due to the onset of the pandemic. As per the data published in Renewables 2021 Analysis and forecast to 2026 report, the cumulative offshore wind capacity is forecast to more than triple by 2026, reaching ~120GW. Large-scale projects are expected to be commissioned beyond the established markets of the UK, Germany, Belgium, Denmark, and the Netherlands in the next five years, with a boost to the global installed capacity set to come from France, Taiwan, South Korea, Vietnam, Japan, and the US. Also, from the second half of 2020, wind power sales increased due to the high number of wind turbine installations. In addition, the power sales in the Electric Reliability Council of Texas increased over 109% to 1.79 million MWh in Q4 compared to ~856,000 MWh sold in Q4 2019. Thus, such growth prospects in energy sector has boosted the demand for renewable energy, which has propelled the wind energy market during the pandemic recovery period.
Lucrative Regions: Wind Energy Market Share
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Market Insight – Wind Energy Market
Government Initiatives to Promote Installation of Wind Turbine Farms
Support of various governments of different countries in terms of policies and investment for increasing the installation of wind energy projects is expected to fuel the market growth over the coming years. Also, the UK government had pledged to invest US$ 272 million in fresh funding for offshore wind projects. The growing initiative from leading countries for adopting wind energy is likely to fuel the market growth. For example, in January 2022, Brazil published initial guidelines for offshore wind power generation. In March 2021, Shell applied for environmental licensing with the Brazilian Institute of Environment and Renewable Natural Resources (IBAMA) to develop offshore wind farms along the coast of Brazil. Further, in July 2022, PEC Energia, an Engeform Energia Renovável company, signed an agreement with Vestas to supply wind turbines to the Serra das Vacas’ wind farms in the state of Pernambuco, Brazil. Thus, such growing initiatives from leading players for supplying wind turbines and applying for licensing to develop offshore wind farms are the key factors boosting the market growth.
Capacity-based Insights
The wind energy market is bifurcated into capacity and installation. Based on capacity, the wind energy market is segmented into upto 1MW, 1-3 MW, 3-5 MW, and above 5MW. The 1-3 MW segment is dominating the market in 2021, with increasing demand for onshore installation application.
Players operating in the wind energy market are mainly focused on the development of advanced and efficient products.
In June 2022, Vestas has sold the 183 MW Delta wind project to The AES Corporation, a global energy company in the US. The project is developed by Steelhead Americas, Vestas’ North American development arm
The wind energy market is segmented into five major regions North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, APAC led the market with a substantial revenue share, followed by Europe and North America. Further, Europe is expected to register the highest CAGR in the wind energy market from 2022 to 2028. The wind energy market analysis helps to understand the upcoming trends, new technologies, and macro and micro factors that are expected to influence the market growth in the coming years.
The key players profiled in the wind energy market study are Vestas Wind Systems A/S; Xinjiang Goldwind Science & Technology Co., Ltd; Siemens Gamesa Renewable Energy S.A.; ENVISION Group; GE Renewable Energy; Mingyang Smart Energy; Nordex SE; Shanghai Electric; Zhejiang Windey Co., Ltd; and China Shipbuilding Group Haizhuang Wind Power Co. Ltd. The wind energy market report provides detailed market insights, which help the key players to strategize the growth in the coming years.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Capacity, and Installation
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global wind energy market size is projected to reach US$ 220.7 billion by 2028.
US, UK, India, South Africa, and Brazil are the countries are registering a high growth rate during the forecast period.
APAC is the fastest-growing regional market in the global Wind energy market in 2021.
The key players holding the major market share of wind energy are Vestas Wind Systems A/S; Goldwind.com; Siemens Gamesa Renewable Energy S.A.; ENVISION Group; GE Renewable Energy; Mingyang Smart Energy; Nordex SE; Shanghai Electric; China Shipbuilding Group Haizhuang Wind Power Co. Ltd.; and Zhejiang Windey Co., Ltd.
The driving factors impacting the Wind energy market are
1. Increasing Investments in Renewable Energy Sources
2. Government initiatives to promote Installation of Wind Turbine Farms
The Future trends impacting the wind energy market are growing power consumption coupled with significant efforts to minimize carbon footprint
The global wind energy market was valued at US$ 156.8 billion in 2022
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Wind Energy Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Wind Energy Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Investments in Renewable Energy Sources
5.1.2 Government initiatives to promote Installation of Wind Turbine Farms
5.2 Market Restraints
5.2.1 High capital cost restraints the growth of the market
5.3 Market Opportunities
5.3.1 The growing focus on floating wind technology holds potential growth opportunity
5.4 Future Trends
5.4.1 Growing power consumption coupled with significant efforts to minimize carbon footprint
5.5 Impact Analysis of Drivers and Restraints
6. Wind Energy Market – Global Analysis
6.1 Wind Energy Market Global Overview
6.2 Wind Energy Market – Global Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning – Five Key Players
7. Wind Energy Market Analysis – By installation
7.1 Overview
7.2 Wind Energy Market Breakdown, By installation, 2020 and 2028
7.3 Onshore
7.3.1 Overview
7.3.2 Onshore: Wind Energy Market Revenue and Forecast to 2028 (US$ Million)
7.4 Offshore
7.4.1 Overview
7.4.2 Offshore: Wind Energy Market Revenue and Forecast to 2028 (US$ Million)
8. Wind Energy Market Analysis – By Type
8.1 Overview
8.2 Wind Energy Market Breakdown, By Type, 2020 and 2028
8.3 Upto 1MW
8.3.1 Overview
8.3.2 Upto 1MW: Wind Energy Market Revenue and Forecast to 2028 (US$ Million)
8.4 1-3 MW
8.4.1 Overview
8.4.2 1-3 MW: Wind Energy Market Revenue and Forecast to 2028 (US$ Million)
8.5 3-5 MW
8.5.1 Overview
8.5.2 3-5 MW: Wind Energy Market Revenue and Forecast to 2028 (US$ Million)
8.6 Above 5MW
8.6.1 Overview
8.6.2 Above 5MW: Wind Energy Market Revenue and Forecast to 2028 (US$ Million)
9. Wind Energy Market – Geographic Analysis
9.1 Overview
9.2 North America: Wind Energy Market
9.2.1 Overview
9.2.2 North America Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
9.2.3 North America Wind Energy Market Breakdown, By installation
9.2.4 North America Wind Energy Market Breakdown, By Type
9.2.4.1 US Wind Energy Market, Revenue and Forecast to 2028
9.2.4.1.1 US Wind Energy Market Breakdown, By installation
9.2.4.1.2 US Wind Energy Market Breakdown, By Type
9.2.4.2 Canada Wind Energy Market, Revenue and Forecast to 2028
9.2.4.2.1 Canada Wind Energy Market Breakdown, By installation
9.2.4.2.2 Canada Wind Energy Market Breakdown, By Type
9.2.4.3 Mexico Wind Energy Market, Revenue and Forecast to 2028
9.2.4.3.1 Mexico Wind Energy Market Breakdown, By installation
9.2.4.3.2 Mexico Wind Energy Market Breakdown, By Type
9.3 Europe: Wind Energy Market
9.3.1 Overview
9.3.2 Europe Wind Energy Market Revenue and Forecast to 2028 (US$ million)
9.3.3 Europe Wind Energy Market Breakdown, By installation
9.3.4 Europe Wind Energy Market Breakdown, By Type
9.3.5 Europe Wind Energy Market Breakdown, by Country
9.3.5.1 Germany Wind Energy Market, Revenue and Forecast to 2028
9.3.5.1.1 Germany Wind Energy Market Breakdown, By installation
9.3.5.1.2 Germany Wind Energy Market Breakdown, By Type
9.3.5.2 France Wind Energy Market, Revenue and Forecast to 2028
9.3.5.2.1 France Wind Energy Market Breakdown, By installation
9.3.5.2.2 France Wind Energy Market Breakdown, By Type
9.3.5.3 Italy Wind Energy Market, Revenue and Forecast to 2028
9.3.5.3.1 Italy Wind Energy Market Breakdown, By installation
9.3.5.3.2 Italy Wind Energy Market Breakdown, By Type
9.3.5.4 UK Wind Energy Market, Revenue and Forecast to 2028
9.3.5.4.1 UK Wind Energy Market Breakdown, By installation
9.3.5.4.2 UK Wind Energy Market Breakdown, By Type
9.3.5.5 Russia Wind Energy Market, Revenue and Forecast to 2028
9.3.5.5.1 Russia Wind Energy Market Breakdown, By installation
9.3.5.5.2 Russia Wind Energy Market Breakdown, By Type
9.3.5.6 Rest of Europe Wind Energy Market, Revenue and Forecast to 2028
9.3.5.6.1 Rest of Europe Wind Energy Market Breakdown, By installation
9.3.5.6.2 Rest of Europe Wind Energy Market Breakdown, By Type
9.4 APAC: Wind Energy Market
9.4.1 Overview
9.4.2 APAC Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
9.4.3 APAC Wind Energy Market Breakdown, By installation
9.4.4 APAC Wind Energy Market Breakdown, By Type
9.4.5 APAC Wind Energy Market Breakdown, by Country
9.4.5.1 Australia Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
9.4.5.1.1 Australia Wind Energy Market Breakdown, By installation
9.4.5.1.2 Australia Wind Energy Market Breakdown, By Type
9.4.5.2 China Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
9.4.5.2.1 China Wind Energy Market Breakdown, By installation
9.4.5.2.2 China Wind Energy Market Breakdown, By Type
9.4.5.3 India Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
9.4.5.3.1 India Wind Energy Market Breakdown, By installation
9.4.5.3.2 India Wind Energy Market Breakdown, By Type
9.4.5.4 Japan Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
9.4.5.4.1 Japan Wind Energy Market Breakdown, By installation
9.4.5.4.2 Japan Wind Energy Market Breakdown, By Type
9.4.5.5 South Korea Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
9.4.5.5.1 South Korea Wind Energy Market Breakdown, By installation
9.4.5.5.2 South Korea Wind Energy Market Breakdown, By Type
9.4.5.6 Rest of APAC Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
9.4.5.6.1 Rest of APAC Wind Energy Market Breakdown, By installation
9.4.5.6.2 Rest of APAC Wind Energy Market Breakdown, By Type
9.5 MEA: Wind Energy Market
9.5.1 Overview
9.5.2 MEA Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
9.5.3 MEA Wind Energy Market Breakdown, By installation
9.5.4 MEA Wind Energy Market Breakdown, By Type
9.5.5 MEA Wind Energy Market Breakdown, By Country
9.5.5.1 Saudi Arabia Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
9.5.5.1.1 Saudi Arabia Wind Energy Market Breakdown, By installation
9.5.5.1.2 Saudi Arabia Wind Energy Market Breakdown, By Type
9.5.5.2 UAE Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
9.5.5.2.1 UAE Wind Energy Market Breakdown, By installation
9.5.5.2.2 UAE Wind Energy Market Breakdown, By Type
9.5.5.3 South Africa Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
9.5.5.3.1 South Africa Wind Energy Market Breakdown, By installation
9.5.5.3.2 South Africa Wind Energy Market Breakdown, By Type
9.5.5.4 Rest of MEA Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
9.5.5.4.1 Rest of MEA Wind Energy Market Breakdown, By installation
9.5.5.4.2 Rest of MEA Wind Energy Market Breakdown, By Type
9.6 SAM: Wind Energy Market
9.6.1 Overview
9.6.2 SAM Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
9.6.3 SAM Wind Energy Market Breakdown, By installation
9.6.4 SAM Wind Energy Market Breakdown, By Type
9.6.5 SAM Wind Energy Market Breakdown, by Country
9.6.5.1 Brazil Wind Energy Market, Revenue and Forecast to 2028
9.6.5.1.1 Brazil Wind Energy Market Breakdown, By installation
9.6.5.1.2 Brazil Wind Energy Market Breakdown, By Type
9.6.5.2 Argentina Wind Energy Market, Revenue and Forecast to 2028
9.6.5.2.1 Argentina Wind Energy Market Breakdown, By installation
9.6.5.2.2 Argentina Wind Energy Market Breakdown, By Type
9.6.5.3 Rest of SAM Wind Energy Market, Revenue and Forecast to 2028
9.6.5.3.1 Rest of SAM Wind Energy Market Breakdown, By installation
9.6.5.3.2 Rest of SAM Wind Energy Market Breakdown, By Type
10. Wind Energy Market- COVID-19 Impact Analysis
10.1 Overview
10.1 North America
10.2 Europe
10.3 APAC
10.4 MEA
10.5 SAM
11. Wind Energy Market – Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 Vestas Wind Systems
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Goldwind
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Siemens Gamesa
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Envision
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 GE Renewable Energy
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Mingyang Smart Energy
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 NORDEX SE
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Shanghai Electric
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 China Shipbuilding Group Haizhuang Wind Power Co., Ltd.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Zhejiang Windey Co., Ltd.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Wind Energy Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. North America Wind Energy Market, Revenue and Forecast To 2028 – By installation (US$ million)
Table 3. North America Wind Energy Market, Revenue and Forecast To 2028 – By Type (US$ million)
Table 4. North America Wind Energy Market Breakdown, by Country
Table 5. North America Wind Energy Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 6. US Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 7. US Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 8. Canada Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 9. Canada Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 10. Mexico Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 11. Mexico Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 12. Europe Wind Energy Market, Revenue and Forecast To 2028 – By installation (US$ million)
Table 13. Europe Wind Energy Market, Revenue and Forecast To 2028 – By Type (US$ million)
Table 14. Europe Wind Energy Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 15. Germany Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 16. Germany Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 17. France Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 18. France Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 19. Italy Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 20. Italy Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 21. UK Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 22. UK Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 23. Russia Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 24. Russia Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 25. Rest of Europe Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 26. Rest of Europe Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 27. APAC Wind Energy Market, Revenue and Forecast To 2028 – By installation (US$ million)
Table 28. APAC Wind Energy Market, Revenue and Forecast To 2028 – By Type (US$ million)
Table 29. APAC Wind Energy Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 30. Australia Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 31. Australia Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 32. China Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 33. China Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 34. India Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 35. India Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 36. Japan Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 37. Japan Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 38. South Korea Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 39. South Korea Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 40. Rest of APAC Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 41. Rest of APAC Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 42. MEA Wind Energy Market, Revenue and Forecast To 2028 – By installation (US$ million)
Table 43. MEA Wind Energy Market, Revenue and Forecast To 2028 – By Type (US$ million)
Table 44. MEA Wind Energy Market, Revenue and Forecast to 2028 – By Country (US$ million)
Table 45. Saudi Arabia Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 46. Saudi Arabia Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 47. UAE Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 48. UAE Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 49. South Africa Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 50. South Africa Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 51. Rest of MEA Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 52. Rest of MEA Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 53. SAM Wind Energy Market, Revenue and Forecast To 2028 – By installation (US$ million)
Table 54. SAM Wind Energy Market, Revenue and Forecast To 2028 – By Type (US$ million)
Table 55. SAM Wind Energy Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 56. Brazil Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 57. Brazil Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 58. Argentina Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 59. Argentina Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 60. Rest of SAM Wind Energy Market, Revenue and Forecast to 2028 – By installation (US$ million)
Table 61. Rest of SAM Wind Energy Market, Revenue and Forecast to 2028 – By Type (US$ million)
Table 62. List of Abbreviation
LIST OF FIGURES
Figure 1. Wind Energy Market Segmentation
Figure 2. Wind Energy Market Segmentation – By Geography
Figure 3. Global Wind Energy Market Overview
Figure 4. Onshore Installation Held the Largest Market Share in 2020
Figure 5. Upto 1MW Held the Highest CAGR
Figure 6. APAC was the Largest Revenue Contributor in 2020
Figure 7. North America– PEST Analysis
Figure 8. Europe – PEST Analysis
Figure 9. APAC – PEST Analysis
Figure 10. MEA – PEST Analysis
Figure 11. SAM – PEST Analysis
Figure 12. Wind Energy Market– Ecosystem Analysis
Figure 13. Expert Opinion
Figure 14. Wind Energy Market: Impact Analysis of Drivers and Restraints
Figure 15. Geographic Overview of Wind Energy Market
Figure 16. Global Wind Energy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Wind Energy Market Revenue Share, By installation (2020 and 2028)
Figure 18. Onshore: Wind Energy Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Offshore: Wind Energy Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Wind Energy Market Revenue Share, By Type (2020 and 2028)
Figure 21. Upto 1MW: Wind Energy Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. 1-3 MW: Wind Energy Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. 3-5 MW: Wind Energy Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. Above 5MW: Wind Energy Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Global Wind Energy Market Breakdown, by Region, 2020 & 2028 (%)
Figure 26. North America Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
Figure 27. North America Wind Energy Market Breakdown, By installation, 2020 & 2028 (%)
Figure 28. North America Wind Energy Market Breakdown, By Type, 2020 & 2028 (%)
Figure 29. North America Wind Energy Market Breakdown, by Country, 2020 & 2028 (%)
Figure 30. US Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
Figure 31. Canada Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
Figure 32. Mexico Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
Figure 33. Europe Wind Energy Market, Revenue and Forecast To 2028 (US$ million)
Figure 34. Europe Wind Energy Market Breakdown, By installation, 2020 & 2028 (%)
Figure 35. Europe Wind Energy Market Breakdown, By Type, 2020 & 2028 (%)
Figure 36. Europe Wind Energy Market Breakdown, by Country, 2018 & 2027(%)
Figure 37. Germany Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
Figure 38. France Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
Figure 39. Italy Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
Figure 40. UK Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
Figure 41. Russia Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
Figure 42. Rest of Europe Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
Figure 43. APAC Wind Energy Market, Revenue and Forecast To 2028 (US$ million)
Figure 44. APAC Wind Energy Market Breakdown, By installation, 2020 & 2028 (%)
Figure 45. APAC Wind Energy Market Breakdown, By Type, 2020 & 2028 (%)
Figure 46. APAC Wind Energy Market Breakdown, by Country, 2020 & 2028 (%)
Figure 47. Australia Wind Energy Market, Revenue and Forecast To 2028 (US$ million)
Figure 48. China Wind Energy Market, Revenue and Forecast To 2028 (US$ million)
Figure 49. India Wind Energy Market, Revenue and Forecast To 2028 (US$ million)
Figure 50. Japan Wind Energy Market, Revenue and Forecast To 2028 (US$ million)
Figure 51. South Korea Wind Energy Market, Revenue and Forecast To 2028 (US$ million)
Figure 52. Rest of APAC Wind Energy Market, Revenue and Forecast To 2028 (US$ million)
Figure 53. MEA Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
Figure 54. MEA Wind Energy Market Breakdown, By installation, 2020 & 2028 (%)
Figure 55. MEA Wind Energy Market Breakdown, By Type, 2020 & 2028 (%)
Figure 56. MEA Wind Energy Market Breakdown, By Country, 2020 & 2028 (%)
Figure 57. Saudi Arabia Wind Energy Market, Revenue and Forecast To 2028 (US$ million)
Figure 58. UAE Wind Energy Market, Revenue and Forecast To 2028 (US$ million)
Figure 59. South Africa Wind Energy Market, Revenue and Forecast To 2028 (US$ million)
Figure 60. Rest of MEA Wind Energy Market, Revenue and Forecast To 2028 (US$ million)
Figure 61. SAM Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
Figure 62. SAM Wind Energy Market Breakdown, By installation, 2020 & 2028 (%)
Figure 63. SAM Wind Energy Market Breakdown, By Type, 2020 & 2028 (%)
Figure 64. SAM Wind Energy Market Breakdown, by Country, 2020 & 2028 (%)
Figure 65. Brazil Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
Figure 66. Argentina Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
Figure 67. Rest of SAM Wind Energy Market, Revenue and Forecast to 2028 (US$ million)
Figure 68. Impact of COVID-19 Pandemic in North American Countries
Figure 69. Impact of COVID-19 Pandemic in European Countries
Figure 70. Impact of COVID-19 Pandemic in APAC Countries
Figure 71. Impact of COVID-19 Pandemic in MEA Countries
Figure 72. Impact of COVID-19 Pandemic in SAM Countries
The List of Companies - Wind Energy Market
- Vestas Wind Systems A/S
- Goldwind.com
- Siemens Gamesa Renewable Energy S.A.
- ENVISION Group
- GE Renewable Energy
- Mingyang Smart Energy
- Nordex SE
- Shanghai Electric
- China Shipbuilding Group Haizhuang Wind Power Co. Ltd.
- Zhejiang Windey Co., Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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