- <100 KW,
- 100 KW to 500 KW,
- 500 KW to 1 MW,
- 1MW to 3 MW,
- 3 MW
Wind Power Market Size was valued at US$ 79.21 billion in 2022 and is expected to grow US$ 210.74 billion by 2029 at a CAGR of 10.9% from 2023 to 2029. The global market provides a detailed overview of the market that can be segmented by turbine capacity, installation, and application. By turbine capacity, the wind power market has been segmented into <100 KW, 100 KW to 500 KW, 500 KW to 1 MW, 1MW to 3 MW and 3 MW. The 100 KW to 500 KW segment is likely to be the largest and fastest-growing segment in terms of turbine capacity. Based on the installation, the wind power market is segmented into offshore and onshore. Among these, the offshore segment is expected to have the fastest-growing market during the forecast period 2023-2029. Based on application, the market is segregated into residential and commercial. The residential held a considerable market share during the forecast period.
Wind Power Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
10.9%
Largest Market
Asia-Pacific
Fastest Growing Market
Asia Pacific
Wind Power Market Dynamics
The need for consistent, affordable, and clean power, favorable legal and legislative frameworks from various governments throughout the world, an increasing need to switch from conventional to renewable energy sources, increasing environmental pollution levels and health problems, and growing awareness of renewable energy sources are some key factors fueling the market growth.
Asia-Pacific Got Significant Share
Wind Power Market Regional Analysis
By region, the Asia Pacific market is expected to witness the highest market share during the forecast period. This is due to a variety of factors, including a big consumer base and a fast increase in demand for renewable energy sources. China, India, and Japan are the major contributors to the growth of the market in the region. Further, China is the world leader in wind energy in terms of power generation and consumption, followed closely by India due to its rising emphasis on offshore ventures.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The wind power market report provides granular level information about the market size, regional market share, historic market (2018-2022), and forecast (2023-2029)
- The wind power market report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
- The wind power market report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The wind power market report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The wind power market report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Wind Power Market Segmentation
By Turbine Capacity
By Installation
- Offshore,
- Onshore
By Application
- Residential,
- Commercial
By Geography
- Latin America
- Europe
- Asia Pacific
- Middle East
- North America
Frequently Asked Questions
The wind power market is projected to expand at a CAGR of 10.9% during the forecast period.
The major players in the global wind power market are 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), Bergey Wind Power (US) and Intertek (UK).
Asia Pacific is the fastest-growing region for wind power market
| 1. Executive Summary |
| 2. Global Wind Power Market Introduction |
| 2.1. Global Wind Power Market - Taxonomy |
| 2.2. Global Wind Power Market -Definitions |
| 2.2.1. By Turbine Capacity |
| 2.2.2. By Installation |
| 2.2.3. By Application |
| 2.2.4. By Region |
| 3. Global Wind Power Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Wind Power Market Dynamic Factors - Impact Analysis |
| 3.6. Global Wind Power Market - Competition Landscape |
| 4. Global Wind Power Market Analysis, 2018-2022 and Forecast, 2023-2029 |
| 4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Wind Power Market, By Turbine Capacity, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 5.1. <100 KW |
| 5.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. 100 KW to 500 KW |
| 5.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. 500 KW to 1 MW |
| 5.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. 1MW to 3 MW |
| 5.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. > 3 MW |
| 5.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 5.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 6. Global Wind Power Market, By Installation, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 6.1. Offshore |
| 6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Onshore |
| 6.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7. Global Wind Power Market, By Application, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 7.1. Residential |
| 7.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Commercial |
| 7.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 8. Global Wind Power Market Forecast, By Region, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia-Pacific |
| 8.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Latin America |
| 8.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Middle East and Africa |
| 8.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 8.6. Global Wind Power Market - Opportunity Analysis Index, By Turbine Capacity, Installation, Application , and Region, 2023-2029 |
| 9. North America Wind Power Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 9.1. Turbine Capacity Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. <100 KW |
| 9.1.2. 100 KW to 500 KW |
| 9.1.3. 500 KW to 1 MW |
| 9.1.4. 1MW to 3 MW |
| 9.1.5. > 3 MW |
| 9.2. Installation Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Offshore |
| 9.2.2. Onshore |
| 9.3. Application Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Residential |
| 9.3.2. Commercial |
| 9.4. Country Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.4.1. USA |
| 9.4.2. Canada |
| 9.5. North America Wind Power Market - Opportunity Analysis Index, By Turbine Capacity, Installation, Application , and Country, 2023-2029 |
| 9.6. North America Wind Power Market Dynamics - Trends |
| 10. Europe Wind Power Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 10.1. Turbine Capacity Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. <100 KW |
| 10.1.2. 100 KW to 500 KW |
| 10.1.3. 500 KW to 1 MW |
| 10.1.4. 1MW to 3 MW |
| 10.1.5. > 3 MW |
| 10.2. Installation Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Offshore |
| 10.2.2. Onshore |
| 10.3. Application Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Residential |
| 10.3.2. Commercial |
| 10.4. Country Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.4.1. Germany |
| 10.4.2. UK |
| 10.4.3. France |
| 10.4.4. Spain |
| 10.4.5. Italy |
| 10.4.6. Russia |
| 10.4.7. Rest of Europe |
| 10.5. Europe Wind Power Market - Opportunity Analysis Index, By Turbine Capacity, Installation, Application, and Country, 2023-2029 |
| 10.6. Europe Wind Power Market Dynamics - Trends |
| 11. Asia-Pacific Wind Power Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 11.1. Turbine Capacity Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. <100 KW |
| 11.1.2. 100 KW to 500 KW |
| 11.1.3. 500 KW to 1 MW |
| 11.1.4. 1MW to 3 MW |
| 11.1.5. > 3 MW |
| 11.2. Installation Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Offshore |
| 11.2.2. Onshore |
| 11.3. Application Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Residential |
| 11.3.2. Commercial |
| 11.4. Country Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.4.1. China |
| 11.4.2. India |
| 11.4.3. Japan |
| 11.4.4. ASEAN |
| 11.4.5. Australia & New Zealand |
| 11.4.6. Rest of Asia-Pacific |
| 11.5. Asia-Pacific Wind Power Market - Opportunity Analysis Index, By Turbine Capacity, Installation, Application, and Country, 2023-2029 |
| 11.6. Asia-Pacific Wind Power Market Dynamics - Trends |
| 12. Latin America Wind Power Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 12.1. Turbine Capacity Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. <100 KW |
| 12.1.2. 100 KW to 500 KW |
| 12.1.3. 500 KW to 1 MW |
| 12.1.4. 1MW to 3 MW |
| 12.1.5. > 3 MW |
| 12.2. Installation Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. Offshore |
| 12.2.2. Onshore |
| 12.3. Application Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Residential |
| 12.3.2. Commercial |
| 12.4. Country Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.4.1. Brazil |
| 12.4.2. Mexico |
| 12.4.3. Rest of Latin America |
| 12.5. Latin America Wind Power Market - Opportunity Analysis Index, By Turbine Capacity, Installation, Application, and Country, 2023-2029 |
| 12.6. Latin America Wind Power Market Dynamics - Trends |
| 13. Middle East and Africa Wind Power Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 13.1. Turbine Capacity Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1. <100 KW |
| 13.1.2. 100 KW to 500 KW |
| 13.1.3. 500 KW to 1 MW |
| 13.1.4. 1MW to 3 MW |
| 13.1.5. > 3 MW |
| 13.2. Installation Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.2.1. Offshore |
| 13.2.2. Onshore |
| 13.3. Application Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.3.1. Residential |
| 13.3.2. Commercial |
| 13.4. Country Analysis 2018-2022 and Forecast, 2023-2029by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 13.4.1. Gulf Cooperation Council (GCC) Countries |
| 13.4.2. South Africa |
| 13.4.3. Rest of MEA |
| 13.5. MEA Wind Power Market - Opportunity Analysis Index, By Turbine Capacity, Installation, Application, and Country, 2023-2029 |
| 13.6. MEA Wind Power Market Dynamics - Trends |
| 14. Competition Landscape |
| 14.1. Strategic Dashboard of Top Market Players |
| 14.2. Company Profiles (Introduction, Financial Analysis, Key Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 14.2.1. Vestas (Denmark) |
| 14.2.2. General Electric (US) |
| 14.2.3. Senvion SA (Germany) |
| 14.2.4. Wind World Limited (India) |
| 14.2.5. Orient Green Power Company Limited (India) |
| 14.2.6. Indowind (India) |
| 14.2.7. DNV GL (Norway) |
| 14.2.8. Siemens Gamesa Renewable Energy SA (Spain) |
| 14.2.9. Goldwind (China) |
| 14.2.10. Bergey Wind Power (US) |
| 14.2.11. Intertek (UK) |
| 15. Research Methodology |
| 16. Key Assumptions and Acronyms |
- Vestas
- General Electric
- Senvion SA
- Wind World Limited
- Orient Green Power Company Limited
- Indowind
- Siemens Gamesa Renewable Energy SA
- Goldwind
- Bergey Wind Power
- Intertek