Global Wind Power Equipment Market is valued approximately at USD xxx billion in 2022 and is anticipated to grow with a healthy growth rate of more than xxx over the forecast period 2023-2030. Wind Power Equipment is a device that uses the power of the wind to generate energy which includes Wind turbines, towers, blades, generators, transformers and other components of a wind power system. The increasing need for renewable energy sources is one of the key factors driving the global market for wind power equipment. In addition, the market for wind power equipment is expected to expand due to increased investments in wind energy and continuous shale development activities anticipated to drive the wind power equipment market.
Wind energy is an important component to the production of renewable energy and the industry has grown steadily as a result of the demand for renewable energy sources and the replacement of traditional sources. However, cohesive government initiatives for renewable energy are supporting the growth of the Wind Power Equipment Market. The governments in different countries are offering incentives and subsidies to encourage the adoption of renewable energy technologies. This includes tax credits, cash grants, and other financial incentives aimed at encouraging the use of wind power equipment, driving the demand for these products. In August 2022 the federal government of the United States introduced the Inflation Reduction Act, a law significantly expanding support for renewable energy in the next 10 years through tax credits and other measures also In Nov 2021 India set revised 2030 objectives of 500 GW of total non-fossil capacity, 50% renewable power generating share, and net zero emissions by 2070. Additionally, technological advancements create growth prospects for the global wind power equipment market also increasing energy independence and enhancing national security. However, the variability in wind power hinders the market as wind speed changes, particularly during weather phenomena such as storms, cause variances.
The key regions considered for the Global Wind Power Equipment Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing due to increasing energy demand and renewable energy targets, favorable government policies and incentives, and growing environmental awareness. Latin America is expected to fastest growing significantly during the forecast period, owing to develop as the electrical market places greater emphasis on wind turbine manufacturers delivering high-quality wind turbines. This has broadened the creation of low-cost wind energy through local manufacturing.
Major market player included in this report are:
- Vestas Wind Systems
- Goldwind, Suzlon Energy Ltd
- Enercon gmbH
- Siemens Games Wind Energy
- ABB, Mitsubishi Heavy Industries
- Toshiba Energy system and solutions
- Tata Power
- Nordex SE
- Suzlon Energy Limited
- Eesti Energia.
Recent Developments in the Market:
- In January 2023, GE announced today that it has submitted a plan to construct two new manufacturing facilities in New York if it wins a sufficient volume of orders from customers in the State's ongoing solicitation for up to 4.6 GW of offshore wind.
- On 14 April 2021, Eesti Energeia has signed an agreement with Baltic Wind Power for 10 years. This agreement will cover the total delivery of 3.8 terawatt-hours (TWh) over 10 years.
Global Wind Power Equipment Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Location, Equipment, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Location:
By Equipment:
- Rotor Blade
- Towers
- Generator
- Gearbox
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Wind Power Equipment Market, by region, 2020-2030 (USD Billion)
- 1.2.2. Wind Power Equipment Market, by Location, 2020-2030 (USD Billion)
- 1.2.3. Wind Power Equipment Market, by Equipment, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Wind Power Equipment Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Wind Power Equipment Market Dynamics
- 3.1. Wind Power Equipment Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing need for renewable energy sources
- 3.1.1.2. Rise in investment of wind power, has aroused a demand wind power equipment
- 3.1.2. Market Challenges
- 3.1.2.1. Area dependency of wind power plan
- 3.1.2.2. Substitution from the solar energy and gas-fired power plants
- 3.1.3. Market Opportunities
- 3.1.3.1. Advancements in Technology
- 3.1.3.2. Increasing investments in renewable sources of energy
Chapter 4. Global Wind Power Equipment Market: Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economic
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Wind Power Equipment Market, by Location
- 5.1. Market Snapshot
- 5.2. Global Wind Power Equipment Market by Location, Performance - Potential Analysis
- 5.3. Global Wind Power Equipment Market Estimates & Forecasts by Location 2020-2030 (USD Billion)
- 5.4. Wind Power Equipment Market, Sub Segment Analysis
- 5.4.1. On-shore
- 5.4.2. Off-shore
Chapter 6. Global Wind Power Equipment Market, by Equipment
- 6.1. Market Snapshot
- 6.2. Global Wind Power Equipment Market by Equipment, Performance - Potential Analysis
- 6.3. Global Wind Power Equipment Market Estimates & Forecasts by Equipment 2020-2030 (USD Billion)
- 6.4. Wind Power Equipment Market, Sub Segment Analysis
- 6.4.1. Rotor Blade
- 6.4.2. Towers
- 6.4.3. Generator
- 6.4.4. Gearbox
- 6.4.5. Others
Chapter 7. Global Wind Power Equipment Market, Regional Analysis
- 7.1. Top Leading Countries
- 7.2. Top Emerging Countries
- 7.3. Wind Power Equipment Market, Regional Market Snapshot
- 7.4. North America Wind Power Equipment Market
- 7.4.1. U.S. Wind Power Equipment Market
- 7.4.1.1. Location breakdown estimates & forecasts, 2020-2030
- 7.4.1.2. Equipment breakdown estimates & forecasts, 2020-2030
- 7.4.2. Canada Wind Power Equipment Market
- 7.5. Europe Wind Power Equipment Market Snapshot
- 7.5.1. U.K. Wind Power Equipment Market
- 7.5.2. Germany Wind Power Equipment Market
- 7.5.3. France Wind Power Equipment Market
- 7.5.4. Spain Wind Power Equipment Market
- 7.5.5. Italy Wind Power Equipment Market
- 7.5.6. Rest of Europe Wind Power Equipment Market
- 7.6. Asia-Pacific Wind Power Equipment Market Snapshot
- 7.6.1. China Wind Power Equipment Market
- 7.6.2. India Wind Power Equipment Market
- 7.6.3. Japan Wind Power Equipment Market
- 7.6.4. Australia Wind Power Equipment Market
- 7.6.5. South Korea Wind Power Equipment Market
- 7.6.6. Rest of Asia Pacific Wind Power Equipment Market
- 7.7. Latin America Wind Power Equipment Market Snapshot
- 7.7.1. Brazil Wind Power Equipment Market
- 7.7.2. Mexico Wind Power Equipment Market
- 7.8. Middle East & Africa Wind Power Equipment Market
- 7.8.1. Saudi Arabia Wind Power Equipment Market
- 7.8.2. South Africa Wind Power Equipment Market
- 7.8.3. Rest of Middle East & Africa Wind Power Equipment Market
Chapter 8. Competitive Intelligence
- 8.1. Key Company SWOT Analysis
- 8.1.1. Company 1
- 8.1.2. Company 2
- 8.1.3. Company 3
- 8.2. Top Market Strategies
- 8.3. Company Profiles
- 8.3.1. Vestas Wind Systems
- 8.3.1.1. Key Information
- 8.3.1.2. Overview
- 8.3.1.3. Financial (Subject to Data Availability)
- 8.3.1.4. Product Summary
- 8.3.1.5. Recent Developments
- 8.3.2. Goldwind, Suzlon Energy Ltd
- 8.3.3. Enercon gmbH
- 8.3.4. Siemens Games Wind Energy
- 8.3.5. ABB, Mitsubishi Heavy Industries
- 8.3.6. Toshiba Energy system and solutions
- 8.3.7. Tata Power
- 8.3.8. Nordex SE
- 8.3.9. Suzlon Energy Limited
- 8.3.10. Eesti Energia.
Chapter 9. Research Process
- 9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
- 9.2. Research Attributes
- 9.3. Research Assumption