Wind Power Market - Growth, Trends, and Forecast (2019 - 2024)

Wind Power Market - Growth, Trends, and Forecast (2019 - 2024)

Purchase Report

Over the years, wind energy has grown to become one of the leading global sources of power generation, and the full utilization of wind power is expected to get stronger during the forecast period. The exponential growth of the wind energy market has been supported by depleting fossil fuel reserves, declining cost of wind power generation, growing sensitivity toward environmental issues, and support from various governments around the world, through financial incentives.

Global wind power installations increased from 14.86 GW in 2006 to 588.4 GW in 2018. The overall growth of the number of wind turbine installations made during 2006-2018 was primarily driven by favorable government policies for wind power in major wind power countries, such as China, the United States, Germany, the United Kingdom, and India.

Emerging Markets in Africa and South America - Restrain the Market

The emerging markets in Africa and South America offer a robust business opportunity for the wind power business. As countries, including Brazil, South Africa, Chile, etc., in these regions are on the cusp of development, there is an increased demand for electricity, which is expected to provide market opportunities for wind power development in the coming years.

The wind power industry in Africa is small and concentrated. As of 2017, the share of cumulative installed wind power in Africa accounted for less than 1%. However, the massive wind power potential, coupled with a decline in the cost of the same, is likely to provide widespread business opportunities to the market in near future.

Argentina is one the major markets for the wind power sector in South America on account of favorable policies and regulations in the country. The country has set a goal to supply 20% of the country’s power from renewable energy sources by 2025. The first ever renewable energy auction in the country in 2016 and 2017 resulted in more than 2,400 MW of wind power being contracted. Moreover, private and legacy projects have added more than 500 MW of wind power, leading to the creation of a pipeline of 3 GW of wind power.

Growing Number of Offshore Wind Energy Installations

The global market for offshore wind energy is increasing at a significant rate. Even though Europe dominated the market with more than 80% of global installed capacity at the end of 2018, Asia also witnessed significant increase in offshore deployment in the recent years. In Japan, after the Fukushima nuclear incident in 2011, offshore wind had emerged as one of the most promising renewables sources in the country. Aided by substantial national government subsidies, construction is about to commence on a number of renewable projects as a part of Japan’s goal to become 100% energy self-sufficient by 2040. The South Korean government is also planning to invest in offshore wind farms.

Canada – Ample Opportunities to Improve the Wind Power Sector in the Country

Canada has the world's ninth-largest wind generating fleet. With the country’s unparalleled wind resources, there are ample opportunities to maximize the economic and environmental benefits associated with the development of wind energy. As of 2018, wind energy production accounts for about 6% of the electricity demand in the country. With the increasing need for affordable, reliable, clean, and diverse electricity supply, the government and utilities across the nation are increasingly considering wind power as a solution. In order to meet the increasing energy demand, the country aims to increase its wind power capacity to 55 GW by 2025, under the country’s Wind Vision 2025.

Key Developments in the Market

  • January 2019: The Abu Dhabi Future Energy Company (Masdar), had announced the execution of a share purchase agreement (SPA) to acquire John Laing Group plc’s interest in two wind farms in the US, marking the first time the Abu Dhabi-based company investing in renewable energy projects in North America.


Reasons to Purchase this Report

  • Identify the drivers, restraints, and opportunity in the global wind power market, with an in-depth analysis
  • Analyze the various perspectives of the market with the help of Porter’s five forces analysis
  • Identify the largest, fastest growing, and significant regions during the forecast period with in-depth analysis
  • Identify the latest developments, market shares and strategies adopted by the major market players
  • 3 months analyst support, along with the Market Estimate sheet (in excel).

Customization of the Report

  • This report can be customized to meet your requirements.

1. EXECUTIVE SUMMARY             


2.1 Scope of Study          

2.2 Study Assumptions 

2.3 Study Deliverables  

2.4 Research Phases      


3.1 Introduction               

3.2 Renewable Energy Mix, 2017              

3.3 Wind Power Installed Capacity, and Forecast in GW, until 2024           

3.4 Number of Wind Turbines Installed, 2017-2024          

3.5 Global Average Size of Wind Turbines, in MW, 2017-2024      

3.6 Recent Trends and Developments   


4.1 Drivers          

4.2 Restraints    

4.3 Opportunities            


5.1 Bargaining Power of Suppliers            

5.2 Bargaining Power of Consumers       

5.3 Threat of New Entrants         

5.4 Threat of Substitute Products and Services  

5.5 Intensity of Competitive Rivalry        

6. MARKET SEGMENTATION AND ANALYSIS, BY LOCATION (Market Overview, Installed Capacity, and Forecast until 2024)    

6.1 Onshore      

6.2 Offshore      

7. REGIONAL MARKET ANALYSIS (Market Overview, Installed Capacity, and Forecast until 2024, Government Policies, Key Projects Information, Recent Trends, and Developments)  

7.1 North America          

7.2 Europe         

7.3 Asia-Pacific 

7.4 Middle East & Africa

7.5 South America          

8. KEY COMPANY PROFILES* (Overview, Products and Services, Financials**, and Recent Developments) 

8.1 Wind Farm Operators            

                8.1.1 Acciona Energia SA

                8.1.2 Duke Energy Corporation

                8.1.3 EDF SA.

                8.1.4 Ørsted A/S

                8.1.5 NextEra Energy Inc.

                8.1.6 E.ON SE

8.2 Equipment Suppliers              

                8.2.1 Aerodyn Energiesysteme GmbH

                8.2.2 Envision Energy

                8.2.3 General Electric Company

                8.2.4 Xinjiang Goldwind Science & Technology Co. Ltd (Goldwind)

                8.2.5 Siemens Gamesa Renewable Energy SA    

                8.2.6 Suzlon Energy Limited

                8.2.7 Vestas Wind Systems AS

                8.2.8 Dongfang Electric Corporation


9.1 Mergers and Acquisitions     

9.2 Joint Ventures, Collaborations, and Agreements       

9.3 Market Share Analysis – Wind Turbine Suppliers       

9.4 Strategies Adopted by Leading Players          


*List not Exhaustive         

**Subject to Availability on the Public Domain     

Purchase Report

Our Clients Include View All

Looking to Customize Report?

Complete your payment details below

Shipping & Billing Information

Payment Information