Wind Power Market Revenue Growth, Revenue Share, Business Insights, Forecast By 2030
Research Reports
Jul 18, 2023
Global Wind Power Market Analysis:
The Global Wind Power Market share is driven by a rapidly evolving renewable energy industry with a healthy CAGR of 12.00% during the forecast period of 2022 to 2030.
Market Research Future Insights
According to MRFR analysis, the Global Wind Power Market is expected to register a CAGR of 12.00% from 2022 to 2030 and hold a value of over USD 262.20 billion by 2030.
The Global Wind Power Market refers to the worldwide industry of producing electricity from wind energy through the use of wind turbines. It includes the development, manufacturing, installation, and maintenance of wind power facilities, as well as the buying and selling of wind power equipment and electricity. The market size and growth are influenced by factors such as government policies, technological advancements, environmental concerns, and the demand for renewable energy sources.
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Covid-19 Impact on Wind Power Market
The COVID-19 pandemic had a significant impact on the global wind power market. The pandemic has disrupted the global supply chain, causing delays in the delivery of wind turbines, components, and materials. The pandemic has caused economic uncertainty, making it more challenging for wind power projects to secure financing. Investors are more cautious, and financing terms have become less favorable.
Market Segmentation
The Global Wind Power Market has been segmented into component and end-user.
Based on the component, the market has been segmented into rotor blades, gearboxes, generators, and towers.
Based on the end-user, the market has been segmented into residential, commercial and industrial.
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Regional Analysis
The largest region of the global wind power market is Asia-Pacific. China is the world’s largest market for wind power, followed by India, Japan, and South Korea. The region’s wind power capacity has grown rapidly in recent years, driven by government policies that support renewable energy development and the need to address air pollution and climate change.
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Europe is also a significant market for wind power, with countries such as Germany, Spain, and the United Kingdom leading the way in installed wind capacity. North America, particularly the United States, is another major market, with a focus on both onshore and offshore wind power.
Key Players
Some of the key market players are:
General Electric (US),Senvion SA (Germany),Wind World Limited (India),Orient Green Power Company (India),Indowind (India),DNV GL (Norway),Siemens Gamesa Renewable Energy SA (Spain),Goldwind (China),Bergey Wind Power (US).
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Market Research Future® (Part of WantStats Research and Media Pvt. Ltd.) has specialized research analysts in the areas of Aerospace & Defense, Automotive, C&M, Energy & Power, F&B, Healthcare & Pharmaceutical, ICT, Industrial Equipment, Packaging Construction & Mining and Semiconductor.
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and about what action to take based on these aspects.
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