Product Code: EGY058D
Highlights:
The global market for wind turbines is estimated to increase from $85.2 billion in 2022 to reach $116.0 billion by 2027, at a compound annual growth rate (CAGR) of 6.4% from 2022 through 2027.
North American wind turbines market is estimated to increase from $21.6 billion in 2022 to reach $27.9 billion by 2027, at a CAGR of 5.2% from 2022 through 2027.
Asia-Pacific wind turbines market is estimated to increase from $44.8 billion in 2022 to reach $62.9 billion by 2027, at a CAGR of 7.0% from 2022 through 2027.
Report Scope:
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 BCC Custom Research
- 1.12 Related BCC 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