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Wind Energy Market Report by Component, Rating, Installation, Turbine Type, Application, and Region 2024-2032

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    Report

  • 136 Pages
  • April 2024
  • Region: Global
  • IMARC Group
  • ID: 5732680
Description Jump to:
The global wind energy market size reached US$ 89.7 Billion in 2023. Looking forward, the market is projected to reach US$ 164.6 Billion by 2032, exhibiting a growth rate (CAGR) of 6.98% during 2023-2032. The increasing demand for renewable energy sources, growing implementations of favorable policies and incentives, such as tax credits, subsidies, and feed-in tariffs, and the development of energy storage technologies represent some of the key factors driving the market.

Wind energy is a form of renewable energy that utilizes the power of the wind to generate electricity. It is generated from large, tower-like structures with blades attached to them that spin in the wind and are used to convert the kinetic energy of the wind into electrical energy. It offers several advantages, such as it is clean and does not produce any greenhouse gas emissions or other harmful pollutants.

Additionally, the wind is a free and abundant resource that can be found all over the world, making it a highly accessible source of energy. It is widely preferred as a substitute for fossil fuels and other conventional energy resources on account of its less impact on the environment. As a result, it is readily available, and inexpensive and finds extensive applications in the commercial, industrial, and residential sectors across the globe.

Wind Energy Market Trends

The growing need to reduce greenhouse gas emissions is driving the global market. Moreover, the governments around the world are implementing policies and incentives, such as tax credits, subsidies, and feed-in tariffs, to promote the development of renewable energy, thus providing a boost to the market. Besides, the increasing consumption of energy due to rapid urbanization and growing reliance on electronics is significantly supporting the demand. Apart from this, continual technological advances, including the use of digital technologies, advanced materials, and improved manufacturing techniques that helps to make wind energy more competitive and reliable, are further fuelling the growth in the market.

Along with this, the development of energy storage technologies, such as batteries, can help to address the intermittent nature of wind energy and improve the reliability of the electricity supply, thereby impelling the demand across the globe. Additionally, the growing investments in upcoming wind power projects are creating a positive market outlook. Furthermore, wind energy contributes to national security by minimizing dependence on imported fossil fuels and increasing energy independence, further propelling the demand.

The market is further driven by the rising improvements in performance and reduction in the prices of wind power technologies. Additionally, the uptake of wind energy is offering various long-term employment opportunities in construction and installation, wind turbine component manufacturing, maintenance and operations, legal and marketing services, and transportation and logistics is providing a lucrative opportunity to the market.

Key Market Segmentation

This report provides an analysis of the key trends in each sub-segment of the global wind energy market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on component, rating, installation, turbine type and application.

Component Insights:

  • Turbine
  • Support Structure
  • Electrical Infrastructure
  • Others
The report has provided a detailed breakup and analysis of the wind energy market based on the component. This includes turbine, support structure, electrical infrastructure, and others. According to the report, the turbine represented the largest segment.

Rating Insights:

  • ≤ 2 MW
  • >2 ≤ 5 MW
  • >5 ≤ 8 MW
  • >8 ≤ 10 MW
  • >10 ≤ 12 MW
  • >12 MW
A detailed breakup and analysis of the wind energy market based on the rating has 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. According to the report, >12 MW rating accounted for the largest market share.

Installation Insights:

  • Offshore
  • Onshore
A detailed breakup and analysis of the wind energy market based on the installation has also been provided in the report. This includes offshore and onshore. According to the report, onshore accounted for the largest market share.

Turbine Type Insights:

  • Horizontal Axis
  • Vertical Axis
The report has provided a detailed breakup and analysis of the wind energy market based on the turbine type. This includes horizontal axis and vertical axis. According to the report, the horizontal axis represented the largest segment.

Application Insights

  • Utility
  • Industrial
  • Commercial
  • Residential
A detailed breakup and analysis of the wind energy market based on the application has also been provided in the report. This includes utility, industrial, commercial, and residential. According to the report, utility accounted for the largest market share.

Regional Insights:

  • 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
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for wind energy. Some of the factors driving the Asia Pacific wind energy market included is rising government policies and incentives, increasing energy demand, and continual technological advancements.

Competitive Landscape

The report has also provided a comprehensive analysis of the competitive landscape in the global wind energy market. Competitive analysis such as market structure, market share by key players, 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.

Some of the companies covered include 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. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. What was the size of the global wind energy market in 2023?
2. What is the expected growth rate of the global wind energy market during 2024-2032?
3. What are the key factors driving the global wind energy market?
4. What has been the impact of COVID-19 on the global wind energy market?
5. What is the breakup of the global wind energy market based on the component?
6. What is the breakup of the global wind energy market based on the rating?
7. What is the breakup of the global wind energy market based on installation?
8. What is the breakup of the global wind energy market based on the turbine type?
9. What is the breakup of the global wind energy market based on the application?
10. What are the key regions in the global wind energy market?
11. Who are the key players/companies in the global wind energy market?

Table of Contents

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$), 2018-2023
Figure 3: Global: Wind Energy Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Wind Energy Market: Breakup by Component (in %), 2023
Figure 5: Global: Wind Energy Market: Breakup by Rating (in %), 2023
Figure 6: Global: Wind Energy Market: Breakup by Installation (in %), 2023
Figure 7: Global: Wind Energy Market: Breakup by Turbine Type (in %), 2023
Figure 8: Global: Wind Energy Market: Breakup by Application (in %), 2023
Figure 9: Global: Wind Energy Market: Breakup by Region (in %), 2023
Figure 10: Global: Wind Energy (Turbine) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Wind Energy (Turbine) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Wind Energy (Support Structure) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Wind Energy (Support Structure) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Wind Energy (Electrical Infrastructure) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Wind Energy (Electrical Infrastructure) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Wind Energy (Other Components) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Wind Energy (Other Components) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Wind Energy (= 2 MW) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Wind Energy (= 2 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Wind Energy (>2 = 5 MW) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Wind Energy (>2 = 5 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Wind Energy (>5 = 8 MW) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Wind Energy (>5 = 8 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Wind Energy (>8 = 10 MW) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Wind Energy (>8 = 10 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Wind Energy (>10 = 12 MW) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Wind Energy (>10 = 12 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Global: Wind Energy (> 12 MW) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: Wind Energy (> 12 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Global: Wind Energy (Offshore) Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Global: Wind Energy (Offshore) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Global: Wind Energy (Onshore) Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Global: Wind Energy (Onshore) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Global: Wind Energy (Horizontal Axis) Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Global: Wind Energy (Horizontal Axis) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Global: Wind Energy (Vertical Axis) Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Global: Wind Energy (Vertical Axis) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Global: Wind Energy (Utility) Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Global: Wind Energy (Utility) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: Global: Wind Energy (Industrial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: Global: Wind Energy (Industrial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Global: Wind Energy (Commercial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Global: Wind Energy (Commercial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Global: Wind Energy (Residential) Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Global: Wind Energy (Residential) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: North America: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: North America: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: United States: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: United States: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Canada: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Canada: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Asia-Pacific: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Asia-Pacific: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: China: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: China: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Japan: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Japan: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: India: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: India: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: South Korea: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: South Korea: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Australia: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Australia: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Indonesia: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Indonesia: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Others: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Others: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Europe: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Europe: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Germany: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Germany: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: France: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: France: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 74: United Kingdom: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 75: United Kingdom: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 76: Italy: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 77: Italy: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 78: Spain: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 79: Spain: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 80: Russia: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 81: Russia: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 82: Others: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 83: Others: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 84: Latin America: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 85: Latin America: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 86: Brazil: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 87: Brazil: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 88: Mexico: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 89: Mexico: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 90: Others: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 91: Others: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 92: Middle East and Africa: Wind Energy Market: Sales Value (in Million US$), 2018 & 2023
Figure 93: Middle East and Africa: Wind Energy Market: Breakup by Country (in %), 2023
Figure 94: Middle East and Africa: Wind Energy Market Forecast: Sales Value (in Million US$), 2024-2032
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, 2023 and 2032
Table 2: Global: Wind Energy Market Forecast: Breakup by Component (in Million US$), 2024-2032
Table 3: Global: Wind Energy Market Forecast: Breakup by Rating (in Million US$), 2024-2032
Table 4: Global: Wind Energy Market Forecast: Breakup by Installation (in Million US$), 2024-2032
Table 5: Global: Wind Energy Market Forecast: Breakup by Turbine Type (in Million US$), 2024-2032
Table 6: Global: Wind Energy Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 7: Global: Wind Energy Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 8: Global: Wind Energy Market: Competitive Structure
Table 9: Global: Wind Energy Market: Key Players

Companies Mentioned

  • 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
  • Xcel Energy Inc.

Methodology

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Table Information

Report AttributeDetails
No. of Pages136
PublishedApril 2024
Forecast Period2023 - 2032
Estimated Market Value ( USD ) in 2023 $ 89.7 Billion
Forecasted Market Value ( USD ) by 2032 $ 164.6 Billion
Compound Annual Growth Rate6.9%
Regions CoveredGlobal
No. of Companies Mentioned13

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