Market Size of Asia-Pacific Large Wind Turbine Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 3.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
APAC Large Wind Turbine Market Analysis
The Asia-Pacific large wind turbine market is projected to register a CAGR greater than 3.5% during the forecast period.
The market was negatively impacted by COVID-19. Presently, the market has reached pre-pandemic levels.
Over the medium period, government policies promoting the development of renewables and increasing investment in wind power projects are expected to drive the market studied during the forecast period.
On the other hand, the increasing adoption of other alternative clean power sources, such as natural gas and solar energy, is expected to hinder the market studied.
The declining cost of wind energy and supportive government policies for the future are expected to create good market opportunities in the future.
China is expected to dominate the Asia-Pacific large wind turbine market in the forecast period since the majority of wind projects are from this country.
APAC Large Wind Turbine Industry Segmentation
The essential component of the wind turbine, the rotor blades, converts wind energy into mechanical motion by blocking the course of the wind flow. Large wind turbine rotor blades are erected as a part of large wind turbines, which are defined as wind turbines with a capacity of more than 1.5 MW.
The Asia-Pacific large wind turbine market is segmented by location of deployment and geography. By location of deployment, the market is segmented into onshore and offshore. The report also covers the size and forecasts for the Asia-Pacific large wind turbine market in China, India, Japan, and Rest of Asia-Pacific. The report offers the market size and forecasts in terms of value in USD billion.
| Location | |
| Offshore | |
| Onshore |
| Geography | |
| India | |
| China | |
| Japan | |
| Rest of Asia-Pacific |
Asia-Pacific Large Wind Turbine Market Size Summary
The Asia-Pacific large wind turbine market is poised for growth, driven by supportive government policies and increased investments in wind power projects. The market has rebounded to pre-pandemic levels after the negative impact of COVID-19. However, the rise of alternative clean energy sources like natural gas and solar energy poses challenges to market expansion. Despite these challenges, the declining cost of wind energy and favorable government initiatives are expected to create significant opportunities. China is anticipated to lead the market, given its substantial wind projects and commitment to expanding renewable energy capacity.
Offshore wind energy is gaining traction in the region, with Asia projected to become a global leader in wind energy by 2050. The development of offshore wind capacity is particularly notable in China and India, with both countries making strides in expanding their offshore wind energy projects. The cost competitiveness of wind energy, bolstered by larger wind turbines, is expected to drive market growth. The Asia-Pacific large wind turbine market is moderately fragmented, with key players including Vestas Wind Systems, Siemens Gamesa Renewable Energy, General Electric, Nordex, and Suzlon Energy. Recent technological advancements and strategic partnerships are further enhancing the market's potential.
Asia-Pacific Large Wind Turbine Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Location
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2.1.1 Offshore
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2.1.2 Onshore
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2.2 Geography
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2.2.1 India
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2.2.2 China
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2.2.3 Japan
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2.2.4 Rest of Asia-Pacific
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Asia-Pacific Large Wind Turbine Market Size FAQs
What is the current Asia-Pacific Large Wind Turbine Market size?
The Asia-Pacific Large Wind Turbine Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Large Wind Turbine Market?
Vestas Wind Systems AS, Siemens Gamesa Renewable Energy SA, General Electric Company, Nordex SE and Suzlon Energy Limited are the major companies operating in the Asia-Pacific Large Wind Turbine Market.
