logo

Europe Wind Power Market Size (2024 - 2029)

The Europe Wind Power Market is anticipated to experience growth driven by factors such as the decreasing cost of wind power generation, increased environmental awareness, and governmental financial incentives. Despite challenges from the solar energy sector and gas-fired power plants, advancements in offshore wind turbine technology and reduced production costs present significant opportunities for market expansion. Germany is projected to maintain its position as the largest market in Europe, supported by ongoing developments in onshore and offshore wind power projects.

Home Market Analysis Energy & Power Research Power Research Power Generation Research Renewables Research Wind Power Research Europe Wind Power Industry Market Size

Market Size of Europe Wind Power Industry

Europe Wind Power Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2021 - 2022
CAGR 6.11 %
Market Concentration Low

Major Players

Europe Wind Power Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Wind Power Market Analysis

The Europe Wind Power Market is expected to register a CAGR of approximately 6.11% during the forecast period.

The market didn't witness any significant impact due to COVID-19 in 2020. Presently the market is likely to reach pre-pandemic levels.

  • Over the long term, factors such as the declining cost of wind power generation, growing sensitivity toward environmental issues, and support from various governments worldwide through financial incentives are expected to increase the demand for wind power during the forecast period.
  • On the flip side, substitution from solar energy and gas-fired power plants is expected to continue restraining the market. The solar energy industry achieved cost reduction at a significantly higher rate than the wind energy sector.
  • The technological advancements in efficiency and decrease in the production cost of offshore wind turbines are expected to create ample opportunity for European market players.
  • Among European countries, Germany had the highest installed capacity in 2021 and is expected to be the largest market during the forecast period, bolstered by constant growth in onshore wind power additions and upcoming offshore wind power projects.

Europe Wind Power Industry Segmentation

Wind power is usually generated using a wind turbine. Wind turbines are mechanical systems that convert kinetic energy into electrical energy. 

European Wind Power Market is segmented by onshore and offshore. The report also covers the market size and forecasts for the Europe Wind Power Market across the major countries. For each segment, the market size and forecasts have been done based on installed capacity in gigawatts (GW).

Location
Onshore
Offshore
Geography
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Need A Different Region Or Segment?
Customize Now

Europe Wind Power Market Size Summary

The wind power market in Europe is poised for significant growth, driven by factors such as decreasing generation costs, heightened environmental awareness, and robust governmental support through financial incentives. Despite challenges from competing energy sources like solar and gas-fired plants, technological advancements in offshore wind turbine efficiency and cost reduction present substantial opportunities for market expansion. Germany stands out as a key player, with the highest installed capacity in Europe, supported by ongoing growth in onshore and upcoming offshore projects. The region's leadership in offshore wind, bolstered by large operational farms, positions it well to meet increasing electricity demands and contribute to the European Green Deal's objectives.

The offshore wind power sector is expected to experience positive growth, with Europe aiming to meet its carbon neutrality targets by 2050. The European Union's need for substantial new wind capacity each year underscores the importance of offshore installations, which benefit from higher wind speeds compared to onshore sites. Initiatives like the UK's ambitious offshore wind capacity targets and Germany's strategic projects highlight the region's commitment to expanding its wind energy infrastructure. The market is moderately fragmented, with key players such as Acciona Energia, Orsted, EDF, General Electric, Vestas, E.ON, and Siemens Gamesa actively contributing to the sector's development through various projects and partnerships.

Explore More

Europe Wind Power Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Wind Power Installed Capacity and Forecast in GW, until 2027

    3. 1.3 Number of Wind Turbines Installed, 2019-2027

    4. 1.4 Recent Trends and Developments

    5. 1.5 Government Policies and Regulations

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

      2. 1.6.2 Restraints

    7. 1.7 Supply Chain Analysis

    8. 1.8 Porter's Five Forces Analysis

      1. 1.8.1 Bargaining Power of Suppliers

      2. 1.8.2 Bargaining Power of Consumers

      3. 1.8.3 Threat of New Entrants

      4. 1.8.4 Threat of Substitutes Products and Services

      5. 1.8.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Location

      1. 2.1.1 Onshore

      2. 2.1.2 Offshore

    2. 2.2 Geography

      1. 2.2.1 Germany

      2. 2.2.2 United Kingdom

      3. 2.2.3 France

      4. 2.2.4 Italy

      5. 2.2.5 Spain

      6. 2.2.6 Rest of Europe

Europe Wind Power Market Size FAQs

The Europe Wind Power Market is projected to register a CAGR of 6.11% during the forecast period (2024-2029)

Orsted AS, EDF SA, General Electric Company, Siemens Gamesa Renewable Energy and Acciona, S.A are the major companies operating in the Europe Wind Power Market.

Wind Power Market in Europe Report Snapshots

Wind Power in Europe Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)