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.
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.
Report Includes
- 35 data tables and 46 additional tables
- An overview of the global market for wind turbines
- 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
Table of Contents
Chapter 1 Introduction
1.1 Introduction
1.2 Study Goals and Objectives
1.3 Reasons for Doing this Study
1.4 Scope of Report
1.5 What’S New in this Update?
1.6 Information Sources
1.7 Intended Audience
1.8 Research Methodology
1.9 Geographical Breakdown
1.10 Analyst's Credentials
1.11 Custom Research
1.12 Related Research Reports
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
3.13 Types of Wind Turbines
3.13.1 Horizontal-Axis Wind Turbine
3.13.2 Vertical-Axis Wind Turbine
3.14 Wind Turbine Application Types
3.14.1 Off-Grid
3.14.2 On-Grid
3.15 Value Chain Analysis of the Market for Wind Turbines
3.15.1 Raw and Processed Materials
3.15.2 Subcomponents
3.15.3 Components
3.15.4 Logistics and Transportation
3.15.5 End Product
3.15.6 End-Use Industries
3.16 Porter’S Five Forces Model
3.16.1 Supplier Power
3.16.2 Buyer Power
3.16.3 Threat of New Entrants
3.16.4 Threat of Substitutes
3.16.5 Competitive Rivalry
3.17 PESTLE Analysis
3.17.1 Political
3.17.2 Economic
3.17.3 Sociological
3.17.4 Technological
3.17.5 Legal
3.17.6 Environment
3.18 Impact of Covid-19 on the Global Market for Wind Turbines
3.19 Impact of the Russia-Ukraine War on the Global Market for Wind Turbines
Chapter 4 Global Market Dynamics
4.1 Overview
4.2 Market Dynamics
4.2.1 Global Market Drivers
4.2.2 Global Market Restraints
4.2.3 Current Market Trends
4.2.4 Market Opportunities
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
5.3 North American Market by Turbine Type
5.4 European Market by Turbine Type
5.5 Asia-Pacific Market by Turbine Type
5.6 Rest of the World Market by Turbine Type
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
6.3 North American Market by Type of Installation
6.4 European Market by Type of Installation
6.5 Asia-Pacific Market by Type of Installation
6.6 Rest of the World Market by Type of Installation
Chapter 7 Market Breakdown by Grid Connectivity
7.1 Global Market by Grid Connectivity
7.1.1 On-Grid
7.1.2 Off-Grid
7.2 North American Market by Grid Connectivity
7.3 European Market by Grid Connectivity
7.4 Asia-Pacific Market by Grid Connectivity
7.5 Rest of the World Market by Grid Connectivity
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
8.3 North American Market by End-user
8.4 European Market by End-user
8.5 Asia-Pacific Market by End-user
8.6 Rest of the World Market by End-user
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
9.3 North American Market by Capacity Rating
9.4 European Market by Capacity Rating
9.5 Asia-Pacific by Capacity Rating
9.6 Rest of the World Market by Capacity Rating
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
10.3 North American Market by End-Use Sector
10.4 European Market by End-Use Sector
10.5 Asia-Pacific by End-Use Sector
10.6 Rest of the World Market by End-Use Sector
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.
Chapter 15 Appendix: Acronyms
List of Tables
Summary Table: Global Market for Wind Turbines, by Region, Through 2027
Table 1: Current Achievements in the Wind Turbine Industry, 2022
Table 2: Sub-component Breakdown for Wind Turbines
Table 3: Standard Tower Height for Various Turbine Capacities
Table 4: Weights of Turbine Components for Various Vestas Wind Systems A/S Turbines
Table 5: Comparison of Capital Cost Breakdown for Typical Onshore and Offshore Wind Turbine Project
Table 6: New Projects for Offshore Wind Technology, August 2022-December 2022
Table 7: Global Market for Wind Turbines, by Type, Through 2027
Table 8: North American Market for Wind Turbines, by Type, Through 2027
Table 9: European Market for Wind Turbines, by Type, Through 2027
Table 10: Asia-Pacific Market for Wind Turbines, by Type, Through 2027
Table 11: Rest of the World Market for Wind Turbines, by Type, Through 2027
Table 12: Global Market for Wind Turbines, by Type of Installation, Through 2027
Table 13: North American Market for Wind Turbines, by Type of Installation, Through 2027
Table 14: European Market for Wind Turbines, by Type of Installation, Through 2027
Table 15: Asia-Pacific Market for Wind Turbines, by Type of Installation, Through 2027
Table 16: Rest of the World Market for Wind Turbines, by Type of Installation, Through 2027
Table 17: Global Market for Wind Turbines, by Grid Connectivity, Through 2027
Table 18: North American Market for Wind Turbines, by Grid Connectivity, Through 2027
Table 19: European Market for Wind Turbines, by Grid Connectivity, Through 2027
Table 20: Asia-Pacific Market for Wind Turbines, by Grid Connectivity, Through 2027
Table 21: Rest of the World Market for Wind Turbines, by Grid Connectivity, Through 2027
Table 22: Global Market for Wind Turbines, by End User, Through 2027
Table 23: North American Market for Wind Turbines, by End User, Through 2027
Table 24: European Market for Wind Turbines, by End User, Through 2027
Table 25: Asia-Pacific Market for Wind Turbines, by End User, Through 2027
Table 26: Rest of the World Market for Wind Turbines, by End User, Through 2027
Table 27: Global Market for Wind Turbines, by Capacity Rating, Through 2027
Table 28: North American Market for Wind Turbines, by Capacity Rating, Through 2027
Table 29: European Market for Wind Turbines, by Capacity Rating, Through 2027
Table 30: Asia-Pacific Market for Wind Turbines, by Capacity Rating, Through 2027
Table 31: Rest of the World Market for Wind Turbines, by Capacity Rating, Through 2027
Table 32: Global Market for Wind Turbines, by End-Use Sector, Through 2027
Table 33: North American Market for Wind Turbines, by End-Use Sector, Through 2027
Table 34: European Market for Wind Turbines, by End-Use Sector, Through 2027
Table 35: Asia-Pacific Market for Wind Turbines, by End-Use Sector, Through 2027
Table 36: Rest of the World Market for Wind Turbines, by End-Use Sector, Through 2027
Table 37: Global Market for Wind Turbines, by Region, Through 2027
Table 38: North American Market for Wind Turbines, by Country, Through 2027
Table 39: European Market for Wind Turbines, by Country, Through 2027
Table 40: Asia-Pacific Market for Wind Turbines, by Country, Through 2027
Table 41: Rest of the World Market for Wind Turbines, by Subregion, Through 2027
Table 42: Patents Published on Turbine Components, Jan. 2021-Dec. 2022
Table 43: Competitive Information on the Top Players in the Global Market for Wind Turbines, 2021
Table 44: Product Mapping Analysis for Top Companies
Table 45: Product Mapping by Installation Site
Table 46: New Product Launches in the Global Market for Wind Turbines, by Key Players, Jan. 2021-Dec. 2022
Table 47: Major Acquisitions in the Global Market for Wind Turbines, by Key Players, Jan. 2021-Dec. 2022
Table 48: Collaborations in the Global Market for Wind Turbines, by Key Players, Jan. 2021-Dec. 2022
Table 49: Expansions in the Global Market for Wind Turbines, by Key Players, Jan. 2021-Mar. 2022
Table 50: Contracts/Partnership/Agreements/Joint Ventures in the Global Market for Wind Turbines, by Key Players, Jan. 2021-Dec. 2022
Table 51: Information Resources in the Market for Wind Turbines
Table 52: CRRC Corp. Ltd.: Financial Overview, 2019-2021
Table 53: CRRC Corp. Ltd.: Product Portfolio
Table 54: ENERCON GmbH: Product Portfolio
Table 55: Envision Energy USA Ltd.: Product Portfolio
Table 56: General Electric: Recent Developments, 2022
Table 57: General Electric: Financial Overview, 2019-2021
Table 58: General Electric: Product Portfolio
Table 59: Guodian United Power Technology Co. Ltd.: Product Portfolio
Table 60: Hyosung Heavy Industries: Financial Overview, 2019-2021
Table 61: Hyosung Heavy Industries: Product Portfolio
Table 62: Ming Yang Smart Energy Group Co. Ltd.: Product Portfolio
Table 63: Nordex SE: Financial Overview, 2019-2021
Table 64: Nordex SE: Product Portfolio
Table 65: Sany Renewable Energy Co. Ltd.: Product Portfolio
Table 66: Seawind Ocean Technology Holding B.V.: Product Portfolio
Table 67: Shanghai Electric Wind Power Group Co. Ltd.: Financial Overview, 2019-2021
Table 68: Shanghai Electric Wind Power Group Co. Ltd.: Product Portfolio
Table 69: Siemens Gamesa: Financial Overview, 2019-2021
Table 70: Siemens Gamesa: Product Portfolio
Table 71: Sinovel Wind Group Co. Ltd.: Product Portfolio
Table 72: Suzlon Energy Ltd.: Financial Overview, 2019-2021
Table 73: Suzlon Energy Ltd.: Product Portfolio
Table 74: Vestas Wind Systems A/S: Recent Developments, 2022
Table 75: Vestas Wind Systems A/S: Financial Overview, 2019-2021
Table 76: Vestas Wind Systems A/S: Product Portfolio
Table 77: Xinjiang Goldwind Science & Technology Co. Ltd.: Financial Overview, 2019-2021
Table 78: Xinjiang Goldwind Science & Technology Co. Ltd.: Product Portfolio
Table 79: Zhejiang Windey Co. Ltd.: Product Portfolio
Table 80: Acronyms Used in This Report
List of Figures
Figure A: Research Methodology Steps Adopted for the Global Market for Wind Turbines
Summary Figure: Global Market Shares of Wind Turbines, by Region, 2021
Figure 1: New Upgrades for Wind Turbines
Figure 2: Increase in Hub Height (in Feet) in Relation to Turbine Capacity
Figure 3: Variables and Costs Involved in Wind Energy Projects
Figure 4: Parameters to Achieve Equitable Cost of Wind Energy Projects
Figure 5: Steps for Development of Wind Projects
Figure 6: Certification and Testing of Wind Turbines
Figure 7: Benefits of Wind Energy Over Conventional Energy Sources
Figure 8: Drawbacks of Wind Energy
Figure 9: Challenges with Wind Energy
Figure 10: Types of Wind Turbines
Figure 11: Off-Grid Wind Turbine
Figure 12: On-Grid Wind Turbine
Figure 13: Value Chain for Wind Turbines
Figure 14: Porter’s Five Forces Model of the Market for Wind Turbines
Figure 15: PESTLE Analysis of the Market for Wind Turbines
Figure 16: Driving Forces of the Global Market for Wind Turbines
Figure 17: Renewable Power Capacity Growth, 2017-2021
Figure 18: Increase in Demand for Electricity, 2017-2022
Figure 19: Major Restraints in the Global Market for Wind Turbines
Figure 20: Current Trends in the Global Market for Wind Turbines
Figure 21: New Offshore Wind Energy Installation Capacity, 2017-2022
Figure 22: Increase in Rotor Size Leads Growth in Power Rating
Figure 23: Opportunities in the Global Market for Wind Turbines
Figure 24: Global Market Shares of Wind Turbines, by Type, 2021
Figure 25: North American Market Shares of Wind Turbines, by Type, 2021
Figure 26: European Market Shares of Wind Turbines, by Type, 2021
Figure 27: Asia-Pacific Market Shares of Wind Turbines, by Type, 2021
Figure 28: Rest of the World Market Shares of Wind Turbines, by Type, 2021
Figure 29: Global Market Shares of Wind Turbines, by Type of Installation, 2021
Figure 30: North American Market Shares of Wind Turbines, by Type of Installation, 2021
Figure 31: European Market Shares of Wind Turbines, by Type of Installation, 2021
Figure 32: Asia-Pacific Market Shares of Wind Turbines, by Type of Installation, 2021
Figure 33: Rest of the World Market Shares of Wind Turbines, by Type of Installation, 2021
Figure 34: Global Market Shares of Wind Turbines, by Grid Connectivity, 2021
Figure 35: North American Market Shares of Wind Turbines, by Grid Connectivity, 2021
Figure 36: European Market Shares of Wind Turbines, by Grid Connectivity, 2021
Figure 37: Asia-Pacific Market Shares of Wind Turbines, by Grid Connectivity, 2021
Figure 38: Rest of the World Market Shares of Wind Turbines, by Grid Connectivity, 2021
Figure 39: Global Market Shares of Wind Turbines, by End User, 2021
Figure 40: North American Market Shares of Wind Turbines, by End User, 2021
Figure 41: European Market Shares of Wind Turbines, by End User, 2021
Figure 42: Asia-Pacific Market Shares of Wind Turbines, by End User, 2021
Figure 43: Rest of the World Market Shares of Wind Turbines, by End User, 2021
Figure 44: Global Market Shares of Wind Turbines, by Capacity Rating, 2021
Figure 45: North American Market Shares of Wind Turbines, by Capacity Rating, 2021
Figure 46: European Market Shares of Wind Turbines, by Capacity Rating, 2021
Figure 47: Asia-Pacific Market Shares of Wind Turbines, by Capacity Rating, 2021
Figure 48: Rest of the World Market Shares of Wind Turbines, by Capacity Rating, 2021
Figure 49: Global Market Shares of Wind Turbines, by End-Use Sector, 2021
Figure 50: North American Market Shares of Wind Turbines, by End-Use Sector, 2021
Figure 51: European Market Shares of Wind Turbines, by End-Use Sector, 2021
Figure 52: Asia-Pacific Market Shares of Wind Turbines, by End-Use Sector, 2021
Figure 53: Rest of the World Market Shares of Wind Turbines, by End-Use Sector, 2021
Figure 54: Global Market Shares of Wind Turbines, by Region, 2021
Figure 55: North American Market Shares of Wind Turbines, by Country, 2021
Figure 56: European Market Shares of Wind Turbines, by Country, 2021
Figure 57: Asia-Pacific Market Shares of Wind Turbines, by Country, 2021
Figure 58: Rest of the World Market Shares of Wind Turbines, by Subregion, 2021
Figure 59: Shares of Patents Registered on Wind Turbines, by Assignee Country, 2021
Figure 60: Shares of Patents Registered on Wind Turbines, by Assignee Country, 2022*
Figure 61: Shares of Patents Registered on Wind Turbines, by Top 10 Companies, 2021-2022
Figure 62: Shares of Strategic Initiatives by Top Companies in the Global Market for Wind Turbines, Jan. 2021-Dec. 2022
Figure 63: Wind Turbine Industry Structure
Figure 64: CRRC Corp. Ltd.: Sales Share, by Segment, December, 2021
Figure 65: CRRC Corp. Ltd.: Sales Share, by Region, December, 2021
Figure 66: CRRC Corp. Ltd.: SWOT Analysis
Figure 67: General Electric: Sales Share, by Business Segment, December, 2021
Figure 68: General Electric: Sales Share, by Region, December, 2021
Figure 69: General Electric: SWOT Analysis
Figure 70: Hyosung Heavy Industries: SWOT Analysis
Figure 71: Nordex SE: Sales Share, by Segment, December, 2021
Figure 72: Nordex SE: Sales Share, by Region, December, 2021
Figure 73: NORDEX SE.: SWOT Analysis
Figure 74: Shanghai Electric Wind Power Group Co. Ltd.: Sales Share, by Segment, 2021
Figure 75: Shanghai Electric Wind Power Group Co. Ltd.: SWOT Analysis
Figure 76: Siemens Gamesa: Sales Share, by Segment, as of September, 2021
Figure 77: Siemens Gamesa: Sales Share, by Region, as of September, 2021
Figure 78: Siemens Gamesa: SWOT Analysis
Figure 79: Suzlon Energy Ltd.: Sales Share, by Segment, as of March 2022
Figure 80: Suzlon Energy Ltd.: Sales Share, by Region, as of March 2022Suzlon Energy Ltd.: Sales Share, by Region, as of March 2022
Figure 81: Suzlon Energy Ltd.: SWOT Analysis
Figure 82: Vestas Wind Systems A/S: Sales Share, by Business Segment, December 2021
Figure 83: Vestas Wind Systems A/S: Sales Share, by Region, December 2021
Figure 84: Vestas Wind Systems A/S: SWOT Analysis
Figure 85: Xinjiang Goldwind Science & Technology Co. Ltd.: Sales Share, by Business Segment, December, 2021
Figure 86: Xinjiang Goldwind Science & Technology Co. Ltd.: Sales Share, by Region, December, 2021
Figure 87: Xinjiang Goldwind Science & Technology Co. Ltd.: SWOT Analysis
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Executive Summary
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).
Companies Mentioned
- 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.
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 248 |
Published | March 2023 |
Forecast Period | 2022 - 2027 |
Estimated Market Value ( USD | $ 85.2 Billion |
Forecasted Market Value ( USD | $ 116 Billion |
Compound Annual Growth Rate | 6.4% |
Regions Covered | Global |
No. of Companies Mentioned | 17 |