Market Summary
Research Methodology on Wind Power Market
Research Approach
The research approach adopted for the current study is an extensive market survey and in-depth analysis. Initially, the entire wind power market is segmented into 5 major categories and the study is conducted on a global level. Since quality data and information is very essential for the research study, primary, as well as secondary data, are collected and analyzed, with primary data collection carrying a major chunk of this responsibility. The primary data is mainly collected through interviews and surveys with industry experts, such as wind turbine manufacturers, component suppliers, engineering and construction firms, regulatory bodies, and other key stakeholders.
Secondary data, on the other hand, is sourced from annual reports of companies, company websites, newsletters, press releases, journals, etc. The research approach also involves an analysis of the current market trends, macro and micro-economic indicators, technology shifts, and regulatory changes in the wind power market by taking into account the key factors that are affecting the growth of the market.
Research Design:
The research design adopted for the present study consists of several methods, such as secondary research, interviews, and surveys. Initially, secondary research was conducted in order to identify the current trends in the wind power market, analyze the key drivers and challenges affecting the growth of the market, and understand the competitive landscape. This is followed by primary research conducted through in-depth interviews and surveys, involving key industry players and stakeholders to get an insight into their views and opinions on the wind power market.
Secondary Research:
This study incorporated a meticulous secondary research process to obtain data from various reliable sources. The sources used for compiling this report covered a vast range of sources, such as financial reports of companies, white papers, industry journals, company websites, and press releases. The secondary research also involves studying the existing market trends, macro and micro-economic indicators, technology shifts, and regulatory changes that can impact the global wind power market.
Primary Research:
The primary research involves conducting face-to-face interviews, telephonic interviews, and surveys with key industry personnel from various companies, wind turbine manufacturers, component suppliers, engineering and construction firms, regulatory bodies, and other key stakeholders. The method of contacting these individuals included email correspondence, personal visits, telephone calls, and social media interaction. The primary research included getting insights into the current market trends and competitive landscape of the wind power market.
Data Collection:
We have adopted a rigorous data collection approach for this study, incorporating both primary and secondary research methods. Primary data is collected through semi-structured interviews with experts in the field, surveys, and discussions with key personnel from the wind power industry. Secondary data is collected from industry reports, journals, statistical databases, newsletters, and press releases. The data collected has been verified with its sources and edited, after which it has been organized into meaningful categories for ease of analysis.
Data Analysis:
The primary and secondary data collected are analyzed using both quantitative and qualitative tools. The quantitative tools employed include a measure of central tendency, statistical analysis, and regression analysis to identify the trends in the wind power market. The qualitative tools employed include Porter’s Five Forces Analysis, SWOT Analysis, and PEST Analysis to assess the competitive scenario and market dynamics.
Market Size & Forecast
Attribute/Metric | Details |
Market Size 2021 | USD 105.9 billion |
Market Size 2022 | USD 118.61 billion |
Market Size 2030 | USD 262.20 billion |
Compound Annual Growth Rate (CAGR) | 12.00% (2024-2030) |
Base Year | 2023 |
Market Forecast Period | 2024-2030 |
Historical Data | 2018 & 2022 |
Market Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Application, Installation, Turbine Capacity, and Region |
Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
Key Companies Profiled | Vestas (Denmark), General Electric (US), Senvion SA (Germany), Wind World Limited (India), Orient Green Power Company Limited (India), Indowind (India), DNV GL (Norway), Siemens Gamesa Renewable Energy SA (Spain), Goldwind (China), and Bergey Wind Power (US) |
Key Market Opportunities | Increasing awareness of renewable energy sources |
Key Market Dynamics | The rise in pollution levels in the environment and health issues Depletion of fossil fuel reserves |
Major Players
Wind Power Market Segmentation
Wind Power Application Outlook (USD Billion, 2018-2030)
Residential
Commercial
Industrial
Wind Power Installation Outlook (USD Billion, 2018-2030)
Onshore
Offshore
Wind Power Turbine Capacity Outlook (USD Billion, 2018-2030)
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
Wind Power Regional Outlook (USD Billion, 2018-2030)
North America Outlook (USD Billion, 2018-2030)
North America Wind Power by Application
Residential
Commercial
Industrial
North America Wind Power by Installation
Onshore
Offshore
North America Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
US Outlook (USD Billion, 2018-2030)
US Wind Power by Application
Residential
Commercial
Industrial
US Wind Power by Installation
Onshore
Offshore
US Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
CANADA Outlook (USD Billion, 2018-2030)
CANADA Wind Power by Application
Residential
Commercial
Industrial
CANADA Wind Power by Installation
Onshore
Offshore
CANADA Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
Europe Outlook (USD Billion, 2018-2030)
Europe Wind Power by Application
Residential
Commercial
Industrial
Europe Wind Power by Installation
Onshore
Offshore
Europe Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
Germany Outlook (USD Billion, 2018-2030)
Germany Wind Power by Application
Residential
Commercial
Industrial
Germany Wind Power by Installation
Onshore
Offshore
Germany Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
France Outlook (USD Billion, 2018-2030)
France Wind Power by Application
Residential
Commercial
Industrial
France Wind Power by Installation
Onshore
Offshore
France Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
UK Outlook (USD Billion, 2018-2030)
UK Wind Power by Application
Residential
Commercial
Industrial
UK Wind Power by Installation
Onshore
Offshore
UK Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
ITALY Outlook (USD Billion, 2018-2030)
ITALY Wind Power by Application
Residential
Commercial
Industrial
ITALY Wind Power by Installation
Onshore
Offshore
ITALY Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
SPAIN Outlook (USD Billion, 2018-2030)
Spain Wind Power by Application
Residential
Commercial
Industrial
Spain Wind Power by Installation
Onshore
Offshore
Spain Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
Rest Of Europe Outlook (USD Billion, 2018-2030)
Rest Of Europe Wind Power by Application
Residential
Commercial
Industrial
REST OF EUROPE Wind Power by Installation
Onshore
Offshore
REST OF EUROPE Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
Asia-Pacific Outlook (USD Billion, 2018-2030)
Asia-Pacific Wind Power by Application
Residential
Commercial
Industrial
Asia-Pacific Wind Power by Installation
Onshore
Offshore
Asia-Pacific Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
China Outlook (USD Billion, 2018-2030)
China Wind Power by Application
Residential
Commercial
Industrial
China Wind Power by Installation
Onshore
Offshore
China Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
Japan Outlook (USD Billion, 2018-2030)
Japan Wind Power by Application
Residential
Commercial
Industrial
Japan Wind Power by Installation
Onshore
Offshore
Japan Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
India Outlook (USD Billion, 2018-2030)
India Wind Power by Application
Residential
Commercial
Industrial
India Wind Power by Installation
Onshore
Offshore
India Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
Australia Outlook (USD Billion, 2018-2030)
Australia Wind Power by Application
Residential
Commercial
Industrial
Australia Wind Power by Installation
Onshore
Offshore
Australia Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
Rest of Asia-Pacific Outlook (USD Billion, 2018-2030)
Rest of Asia-Pacific Wind Power by Application
Residential
Commercial
Industrial
Rest of Asia-Pacific Wind Power by Installation
Onshore
Offshore
Rest of Asia-Pacific Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
Rest of the World Outlook (USD Billion, 2018-2030)
Rest of the World Wind Power by Application
Residential
Commercial
Industrial
Rest of the World Wind Power by Installation
Onshore
Offshore
Rest of the World Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
Middle East Outlook (USD Billion, 2018-2030)
Middle East Wind Power by Application
Residential
Commercial
Industrial
Middle East Wind Power by Installation
Onshore
Offshore
Middle East Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
Africa Outlook (USD Billion, 2018-2030)
Africa Wind Power by Application
Residential
Commercial
Industrial
Africa Wind Power by Installation
Onshore
Offshore
Africa Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
Latin America Outlook (USD Billion, 2018-2030)
Latin America Wind Power by Application
Residential
Commercial
Industrial
Latin America Wind Power by Installation
Onshore
Offshore
Latin America Wind Power by Turbine Capacity
<100 KW
100 KW to 500 KW
500 KW to 1 MW
1MW to 3 MW
> 3 MW
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