Global Wind Turbine Market Growth Analysis, Trends Forecast Regions, Type and Application to 2021 -2030

In a recently published report, Global Wind Turbine Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Wind Turbine Market products.

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It is also anticipated to grow on account of the growing demand for alternative renewable energy sources, backed by the growing concern for pollution worldwide emitted from burning conventional fuel sources. Total electricity capacity from renewable energy sources around the world increased from around 750,000MW in 2000 to about 2,500,000MW in 2019. Additionally, electricity from hydropower energy, wind, solar, and bioenergy, grew from around 780000MW, 16000MW, 1200MW, and 29000MW in 2000 to 1300000MW, 620000MW, 580000MW, and 120000MW in 2019 respectively.

Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.


The global wind turbine market was valued at US$XX Mn in 2017 and is expected to reach US$XX Mn by 2022 growing at a CAGR of XX% during the forecast period. A wind turbine is a device which converts the kinetic energy of the wind into electrical energy. The energy in the wind turns two or three propeller-like blades around a rotor. The rotor is connected to the main shaft which spins a generator to create electricity.Wind is a renewable form of energy which is available abundantly and extensively in nature. Wind turbines are directly connected to the network of electricity transmission.
The end users are mainly industries, residential complexes, farmhouses etc.

In the current global scenario there are many factors which are significant in deciding the fate of the industry.

Market Drivers:
It is the most viable alternative to fossil fuels which are fast depleting. Wind energy is also one of the cleanest sources of energy since it does not emit any toxic or greenhouse gas. Ecological awareness and world nature summits have recognised wind energy to be one the saviours in the near future besides solar energy. Moreover the concept of green cities’ has led to significant investments in this sector. Many companies have also managed to secure the necessary long term contracts for financially supporting their development projects.

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The offshore and onshore wind that is trapped is a cheap, competitive and significant source of energy.
A large number of promising projects and innovations have been boosting the industry.
Due to the growing demand of electricity especially in the developing countries like India and China the wind industry has received a significant forward momentum.

Market Restraints:
The wind turbine setups have high initial installation costs which often make it uneconomical especially for the smaller companies.
Another major hindrance is that the setup of the wind turbine machinery also includes the usage of some rare earth metals.
Till the fossil fuels become sparse, it will continue to be the cheaper source of energy.
The existing power grids are incapable of handling future transmission and distribution demands. Modernisation of the power grids need to be done prior to further development in this field.
The recent American president had promised a return to the fossil fuel development in his election manifesto. In that case the global wind industry might need to do without the US sector for the time being.
Finally, the wind turbine projects are also associated with a few ecological issues viz. land use and wildlife habitat. As a result, the development of these projects face some strict restrictions and often lawsuits.

Market Opportunities:
Many companies are upgrading their wind turbines and researching on increasing the power outputs. The promising global eco-summits like the ‘The Paris climate change pact’ is encouraging all the nations to harness the untapped energy of the wind for a sustainable future.

The market can be broadly segmented into the following parts:
Based on amount of power generated:
Small(1-120 KW)
Medium(121-1000 KW)
Large(1-3 MW)
Based on its technology time:
Horizontal axis
Vertical axis
Based on geography(demand end):
North America
Middle East & Africa
Europe enjoys the largest consumer base in the world. But China tops the chart for harnessing the most of the wind energy.US boasts some of the most advanced technologies in this sector. One of its nearest neighbours Brazil is considered to have a lot of untapped potential.
Some of the global leaders in this sector are as follows:
Report ContentsRegional AnalysisReport Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

Eastern Europe
Rest of Eastern Europe

Asia Pacific
Australia and New Zealand
Rest of Asia Pacific

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Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage

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