Dublin, March 10, 2023 (GLOBE NEWSWIRE) -- The "Wind Turbines: Technologies, Applications and Global Markets" report has been added to ResearchAndMarkets.com's offering.
In this report 2021 is used as the market's base year, estimated values are provided for 2022 and market values are forecast for the period of 2022 to 2027. All market values are provided in millions of dollars, and market shares and CAGRs are provided in percentages.
The market for wind turbines is continuously growing due to the growing demand for clean energy sources for generating electrical power. The growing demand for renewable energy from consumers in wake of awareness of emission-free energy is likely to drive market growth.
Governments across the globe are striving to meet the Paris agreement and government targets for reducing greenhouse emissions with the help of supportive government regulations, policies, incentives, and tax rebates. These supports are helping to drive the growth of the market.
Governments are also encouraging private investors and stakeholders to develop wind energy by providing more tax benefits and statutory support. Also, some governments are pumping huge investments into the industry to increase the share of wind energy in the energy mix, which is augmenting the market growth. These combined factors are certain to drive market growth over the forecast period.
Wind power resources have increased significantly in the past two decades, driven by strong R&D capabilities, new developments in technology and the falling cost of electricity created through wind power.
According to a report from the International Renewable Energy Agency (IRENA), wind generation capacity from both onshore and offshore installations has increased significantly in the past two decades, jumping from 7.5 (Gigawatt) GW in 1997 to 837 GW in 2021. Onshore wind capacity grew from 178 GW in 2010 to 707.4 GW in 2021, while offshore wind capacity has grown proportionately more, but from a lower base, from 3.1 GW in 2010 to 35.3 GW in 2021.
Onshore wind installations experienced a lower addition of capacity, with 72.5 GW added in 2021 (-18%), due to lower installations in China and the United States. China installed 30.7 GW of onshore wind capacity in 2021 (-39% compared to 2020, due to the termination of the feed-in tariff), while the United States only added 12.7 GW (-25%) due to supply chain issues.
However, these lower installations in the two largest markets were partly compensated by record-high growth in Europe (+14.1 GW, including 2.1 GW in Sweden, 1.9 GW in Germany, and 1.5 GW in Turkey), Latin America (+5.8 GW, including 3.8 GW in Brazil), and Africa and the Middle East (+1.8 GW, including 668 MW in South Africa).
Offshore wind installations soared in 2021 with 21.1 GW installed (three times more than the 6.9 GW installed in 2020), spurred by China (16.9 GW), the U.K. (2.3 GW), Denmark (605 MW), the Netherlands (392 MW), and Asia-Pacific countries (excluding China and South Korea, 888 MW). Auctioned capacity rose by 153% in 2021, with 88 GW awarded in 2021, including 69 GW onshore and 19 GW offshore. A significant part was awarded in China (52 GW, including 49 GW of onshore grid parity projects).
This report analyzes different turbine types, installations type, grid connectivity, end use, capacity rating, end user, and regional market development of wind turbines. Furthermore, we also segment the market analysis by major countries in this report, such as the U.S., China, Germany, and others where the opportunities for wind turbines are lucrative.
The report is prepared in a simple, easy-to-understand format; tables and figures are included to illustrate historical, current, and future market scenarios. The report also covers leading companies with information on product types, business footprint, revenue, etc. We have also included a list of other companies in global and regional markets. Also, the report includes a patent analysis for the wind turbines market, which represents a significant investment area for investors.
The report incorporates the impact of COVID-19 and the Russia-Ukraine war on the global and regional markets.
Report Includes
- Analyses of global market trends, with data from 2021 and 2022, estimates for 2023, 2025, and projections of compound annual growth rates (CAGRs) through 2027
- Coverage of history, evolution, applications, and benefits of wind turbine and discussion on market opportunities, major issues and trends affecting the industry
- Segmentation of the market by turbine type, installation, grid connectivity, service, end use, capacity rating, and region
- Insight into the recent industry structure, regulations and policies, pipeline products, and the vendor landscape of the market leading participants
- Company profiles of the leading global players, including Vestas Wind Systems A/S, Siemens Gamesa, General Electric, Ming Yang Smart Energy Group Co. Ltd., Envision Group, and Nordex SE
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 248 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $85.2 Billion |
| Forecasted Market Value (USD) by 2027 | $116 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
3.1 Current Market Overview
3.1.1 Characterizing Wind Resources
3.1.2 Economic Prospects of Wind Energy
3.1.3 the Cost of Wind Power is Competitive With Conventional Power Plants
3.2 History and Evolution of Wind Turbines
3.2.1 Wind Energy History
3.2.2 Wind Energy Present
3.2.3 Wind Energy Future
3.3 Developments in the Wind Turbine Industry
3.3.1 Catenary Moored Semi-Submersible Platforms (Cmssp) Platform
3.3.2 Tension Leg Platforms (Tlp) Platform
3.3.3 Spar Buoys
3.3.4 Pitch Bearings
3.3.5 Rotor Size and Blade Shape
3.3.6 Robotic Inspection
3.4 Trends
3.4.1 Increased Interest in the Renewable Sources of Energy
3.4.2 Heightened Concern About Carbon Emissions
3.4.3 Selling Excess Electricity to the Utilities
3.4.4 Early Stage of Industry
3.5 Wind Turbine Advances
3.6 Wind Turbine Components
3.6.1 Subcomponents for Wind Turbines
3.7 Government Regulations and Incentives: Technological Issues in the Wind Industry
3.7.1 Incentives for Wind Energy
3.7.2 Permits and Legal Aspects
3.7.3 Ecological Impact of Wind Turbines
3.7.4 Production Tax Credit
3.7.5 Government Incentives for the Construction of New Renewable Sources of Energy
3.7.6 Wind Turbine and Component Technology Issues
3.8 Basis of Wind Energy Projects
3.8.1 Wind Energy Project Costs
3.8.2 Cost of Producing Wind Energy
3.9 Steps for Development of Wind Projects
3.10 Certification and Testing of Wind Turbines
3.10.1 Design Assessment
3.10.2 Type Testing
3.10.3 Manufacturing Evaluation
3.10.4 Performance Characteristics
3.10.5 International Standards
3.11 Applications, Advantages, and Challenges
3.11.1 Applications
3.11.2 Advantages of Wind Energy
3.11.3 Disadvantages of Wind Energy
3.11.4 Challenges
3.12 Improving Turbine Efficiencies
3.12.1 Improved Turbine Efficiencies Through Design Innovations
3.12.2 Improved Turbine Efficiencies Using Carbon Fiber
Chapter 4 Global Market Dynamics
4.1 Overview
4.2 Market Dynamics
Chapter 5 Market Breakdown by Turbine Type
5.1 Overview
5.2 Global Market by Turbine Type
5.2.1 Horizontal-Axis Turbines
5.2.2 Vertical-Axis Turbines
Chapter 6 Market Breakdown by Type of Installation
6.1 Overview
6.2 Global Market by Type of Installation
6.2.1 Onshore
6.2.2 Offshore
Chapter 7 Market Breakdown by Grid Connectivity
7.1 Global Market by Grid Connectivity
7.1.1 On-Grid
7.1.2 Off-Grid
Chapter 8 Market Breakdown by End-user
8.1 Overview
8.2 Global Market by End-user
8.2.1 Independent Power Producers
8.2.2 Investor-Owned Utilities
8.2.3 Public Power Utilities
8.2.4 Rural Electric Cooperatives
Chapter 9 Market Breakdown by Capacity Rating
9.1 Overview
9.2 Global Market by Capacity Rating
9.2.1 Below 2 Mw
9.2.2 2 Mw to 4 Mw
9.2.3 Above 4 Mw
Chapter 10 Market Breakdown by End-Use Sector
10.1 Overview
10.2 Global Market by End-Use Sector
10.2.1 Residential
10.2.2 Industrial
10.2.3 Commercial
10.2.4 Utility
Chapter 11 Market Breakdown by Region
11.1 Overview
11.2 Global Market for Wind Turbines by Region
11.3 North American Market for Wind Turbines by Country
11.3.1 U.S.
11.3.2 Canada
11.3.3 Mexico
11.4 European Market for Wind Turbines by Country
11.4.1 Germany
11.4.2 Turkey
11.4.3 France
11.4.4 Denmark
11.4.5 U.K.
11.4.6 the Netherlands
11.4.7 Sweden
11.4.8 Rest of Europe
11.5 Asia-Pacific Market for Wind Turbines by Country
11.5.1 China
11.5.2 India
11.5.3 Japan
11.5.4 Australia
11.5.5 Vietnam
11.5.6 Rest of Asia-Pacific
11.6 Rest of the World Market for Wind Turbines by Subregion
11.6.1 South America
11.6.2 Middle East and Africa
Chapter 12 Patent Analysis
12.1 Overview
12.2 Descriptions of Patent Related to Wind Turbines
Chapter 13 Competitive Landscape
13.1 Overview
13.2 Strategic Analysis
13.2.1 Agreements/Contracts
13.2.2 13.2.1 Product Launches
13.2.3 Collaborations
13.2.4 Acquisitions
13.3 Leading Players in the Global Market for Wind Turbines
13.4 Market Share Analysis
13.5 Wind Turbine Industry Structure
13.5.1 Manufacturers
13.5.2 Developers
13.5.3 Owners
13.5.4 Power Purchasers
13.6 Product Portfolio Analysis
13.6.1 Product Mapping Analysis by Turbine Size Capacity
13.6.2 Product Mapping Analysis by Installation Site
13.7 Key Developments
13.8 Information Resources in the Market for Wind Turbines
Chapter 14 Company Profiles
- Crrc Corp. Ltd.
- Enercon GmbH
- Envision Energy Usa Ltd.
- General Electric
- Guodian United Power Technology Co. Ltd.
- Hyosung Heavy Industries
- Mingyang Smart Energy Group Co. Ltd.
- Nordex Se
- Sany Renewable Energy Co. Ltd.
- Seawind Ocean Technology Holding B.V.
- Shanghai Electric Group Co. Ltd.
- Siemens Gamesa Renewable Energy
- Sinovel Wind Group Co. Ltd.
- Suzlon Energy Ltd.
- Vestas Wind Systems A/S
- Xinjiang Goldwind Science & Technology Co. Ltd.
- Zhejiang Windey Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ec8es4
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
