Wind Turbine Manufacturing in Canada - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

Going green: Grid limitations and infrastructure consideration may mitigate private investments needed to finance new wind energy projects

Canadian wind turbine manufacturing will expand significantly through the end of 2023. Canada is well-suited for generating wind-powered electricity, given that it has large tracts of land and abundant wind resources. Installed wind power capacity in Canada has grown through the end of 2023, aided by federal and provincial government incentives designed to reduce greenhouse gases and promote clean energy. These incentives include tax deductions, feed-in tariffs and governmental guarantees to purchase wind electricity. Wind turbine manufacturing revenue has been surging at a CAGR of 14.5% over the past five years and is expected to total $1.8 billion in 2023, when revenue will likely jump an estimated 0.4%. Profit will also increase due to declining labour costs.

The Wind Turbine Manufacturing industry in Canada researches, develops and manufactures wind turbines for various uses such as residential, industrial and commercial.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.