Onshore Wind Energy Market Technologies, Industry Share, Size, Regional Outlook, Top Companies, Current Trends and Global Statistics to 2030
Research Reports
Dec 14, 2022
Onshore Wind Energy Market Research Report and Growth Analysis 2023 By End-use (Utilities, Commercial & Industrial, Hybrid power), by Application Power Capacity (below 500 KW, 500 KW to 2 MW, above 2 MW), by Wind Capacity, by Grid Connectivity and by Regions – Forecast till 2030
Onshore Wind Energy Market Insights
The global Onshore Wind Energy Market is estimated to be worth USD 71.15 Billion by 2030, registering a 10.38% CAGR during the forecast period (2022- 2030).
Onshore wind is an extensive and renewable source of clean energy with a vivacious role to play in the global shift to green energy. Wind energy has a comparatively better capacity for generating electricity than other renewable sources. When electricity is generated from wind energy which is converted into electrical energy with the help of rotors and generators, it’s called wind power. Since the growth of renewable energy is the maximum in the present scenario, wind energy is obtaining more attention from power generators. Wind energy has the potential to generate a higher capacity of electricity than other renewable source. Wind farms and wind parks are created to amend the wind energy to the maximum and generate approx 6 to 8 MW of power.
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Market Size | 2030: 71151.8 Million USD |
CAGR | 10.38% CAGR (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | End-use, Application, Power Capacity, Wind Capacity and Grid Connectivity |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Innovation in the wind turbine sector is framing the onshore wind energy scenario with a concentration on Leveled Cost of electricity. Siemens has emerged with a direct drive concept of wind energy, which has fewer components and accordingly cuts down the costs of maintenance.
The onshore wind energy market is estimated to have massive growth over the forecast period through continuous innovation in technology coupled with higher demand for wind farm construction and boosting electricity demand. The market is also anticipated to have high expansion and technological activities by significant players in the Onshore Wind Energy Market. The global onshore wind market is awaited to grow at a faster pace shortly, the main reasons being the augmented context of energy supply and demand and the growing demand for renewable energy in electricity generation.
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Onshore Wind Energy Market Regional Analysis
The global Onshore Wind Energy Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
In Asia Pacific, increasing installed electricity capacity, as well as a greater prominence on renewable energy in China, Japan, and India is expected to push market growth over the forecast period.
Due to the augmentation in wind farms and commendatory government policies in the region, the market in Europe is estimated to gain a significant market share during the forecast period. Also, the presence of key market players is anticipated to fuel market growth. The growing initiatives for clean energy, coupled with strict regulations for conventional power generation, boost growth in these areas.
North America is similarly expected to witness expressive growth over the forecast period. The augmenting concern for clean energy coupled with strict regulations for conventional power generation; boosts the growth in this region.
Onshore Wind Energy Market Segmentation
The global Onshore Wind Energy Market is segmented into the following types;
By Capacity
- Below 500 KW
- 500 KW – 2 MW
- Above 2 MW
- Others
By Location
- High Wind Speed
- Medium Wind Speed
- Low Wind Speed
By Application
- Utility
- Residential
- Others
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Onshore Wind Energy Market Key Players
The global Onshore Wind Energy Market’s prominent key players are,
- Siemens AG (Germany)
- Envision energy (China)
- General Electric Wind Energy (U.S.)
- Suzlon (India)
- Vestas Wind System A/S (Denmark)
- Enercon GmbH (Germany) Mitsubishi Power Systems (Japan)
- Nordex S.E. (Germany)
- Repower (Switzerland)
- Gazelle Wind Turbines (U.K.)
- Clipper Wind Power (UK) and Others.
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