Onshore Wind Energy Market
Onshore Wind Energy Market Forecasts to 2030 - Global Analysis By Component (Turbines, Electrical Infrastructure and Other Components), Capacity, Application, End User and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $58.8 BN |
|
Projected Year Value (2030) |
US $83.4 BN |
|
CAGR (2024 - 2030) |
6.0% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Onshore Wind Energy Market is accounted for $58.8 billion in 2024 and is expected to reach $83.4 billion by 2030 growing at a CAGR of 6.0% during the forecast period. Onshore wind energy is the generation of electricity through wind turbines installed on land, which harnesses the kinetic energy of moving air to produce electricity. The process involves a rotor, tower, and generator, which rotate as wind flows over the blades. This renewable and sustainable energy source uses wind, an inexhaustible natural resource, and does not emit greenhouse gases during operation. The electricity generated can be used for utility-scale power generation, water pumping, and battery charging, making it a valuable and sustainable resource.
Market Dynamics:
Driver:
Increasing demand for clean energy
Burning of fossil fuels for electricity generation contributes significantly to greenhouse gas emissions, causing global warming and environmental degradation. Onshore wind energy offers a sustainable alternative without emitting harmful pollutants, making its role in decarbonizing the energy sector increasingly vital as governments reduce emissions under international agreements like the Paris Agreement.
Restraint:
Land availability and siting issues
Geographical constraints and regulatory restrictions can limit the availability of suitable land for onshore wind farms. These include proximity to urban areas, protected lands, and natural reserves, which can exclude areas like cities, forests, and military zones. Local regulations also impose minimum distance requirements between wind turbines and residential areas, further limiting the available land hampering the growth of the market.
Opportunity:
Advancements in wind turbine technology
Modern wind turbines are becoming larger and more efficient, generating more electricity per unit, reducing land use and installation costs. Advances in turbine design have led to higher capacity factors, ensuring consistent and efficient electricity generation even in varying wind conditions. The incorporation of digital platforms and smart technology in wind farms allows real-time monitoring and predictive maintenance, optimizing turbine performance and reducing downtime, thus improving the overall reliability of wind energy in the grid.
Threat:
Economic viability in remote areas
Remote areas often lack existing electrical infrastructure, making it expensive to connect new wind farms to the grid. Building transmission lines can be prohibitive, especially in low population density and demand. Additionally, transportation and logistics to remote locations can be costly due to difficult terrain and inadequate access roads, complicating the construction and maintenance of wind farms.
Covid-19 Impact
The COVID-19 pandemic negatively impacted the onshore wind energy market through significant supply chain disruptions, leading to delays in project construction and financing. Manufacturing plants faced shutdowns, particularly in wind blade production, which is labor-intensive. Additionally, a decline in electricity demand during lockdowns reduced the immediate need for new wind capacity. These factors resulted in postponed projects and uncertainty in the market.
The turbines segment is expected to be the largest during the forecast period
The turbines is expected to be the largest during the forecast period owing to modern turbines which have larger rotors and longer blades, capturing more wind energy even at lower speeds, making them more competitive with conventional energy sources. They also have enhanced reliability and performance through smart technology integration, which optimizes performance by adjusting blade positions based on real-time wind conditions. This technology improves energy output and reduces maintenance costs by proactively addressing potential issues.
The utility-scale power generation segment is expected to have the highest CAGR during the forecast period
The utility-scale power generation segment is expected to have the highest CAGR during the forecast period as it is crucial for reducing carbon emissions and enhancing energy sustainability. It replaces fossil fuel-based power generation, achieving global climate goals. Additionally, it increases renewable energy's share in the electricity mix, reducing dependency on imported fossil fuels and aligning with national energy strategies, thereby enhancing energy security.
Region with largest share:
North America is projected to hold the largest market share during the forecast period because North American countries have set targets to increase renewable energy in their electricity mix, implementing policies like feed-in tariffs and tax incentives. Climate change and air pollution are driving the demand for clean energy sources like wind energy. The U.S. dominates the North American onshore wind energy market, with significant installed capacity and ongoing investments. Canada is emerging as an emerging market with growing investments and supportive government policies.
Region with highest CAGR:
Asia Pacific is projected to witness the highest CAGR over the forecast period, China dominates the Asia-Pacific onshore wind energy market with installed capacity and ongoing investments, driven by government targets, subsidies, and favorable policies. India also has a growing market, supported by its national wind-solar hybrid policy and other initiatives, bolstering onshore wind energy deployment. Moreover climate change and air pollution are driving the demand for clean energy sources, such as onshore wind energy, across the region.
Key players in the market
Some of the key players in Onshore Wind Energy market include Clipper Wind Power (UK), Dongfang Electric Corporation, ENERCON GmbH, Envision energy, Gazelle Wind Turbines, GE Renewable, Goldwind, Ming Yang Smart Energy Group Co., Mitsubishi Power Systems, Nordex SE, Siemens Gamesa Renewable Energy S.A., Sinovel, Suzlon, Vestas and Repower
Key Developments:
In September 2024, GE Vernova Inc. announced the launch of its advanced containerized solution for Battery Enabled Energy Storage (BESS) - the RESTORE DC Block - which offers enhanced safety, efficiency, flexibility, and long-term performance.
In April 2024, GE Aerospace announced its official launch as an independent public company defining the future of flight, following the completion of the GE Vernova spin-off. GE Aerospace will trade on the New York Stock Exchange (NYSE) under the ticker “GE”.
In June 2024, itsubishi Heavy Industries, Ltd. (MHI) and Thailand's largest power producer Electricity Generating Authority of Thailand (EGAT) have signed a Memorandum of Understanding (MoU) to conduct research on the introduction of hydrogen co-firing technologies for gas turbine power generation.
Components Covered:
• Turbines
• Electrical Infrastructure
• Other Components
Capacities Covered:
• Less than 2 MW
• 2 MW to 3 MW
• More than 3 MW
Applications Covered:
• Utility-Scale Power Generation
• Off-Grid Power Generation
• Hybrid Energy Systems
• Commercial Power Generation
• Other Applications
End Users Covered:
• Power Generation
• Industrial
• Residential
• Government & Public Institutions
• Agriculture & Rural Users
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Onshore Wind Energy Market, By Component
5.1 Introduction
5.2 Turbines
5.2.1 Blades
5.2.2 Tower
5.2.3 Nacelle
5.2.4 Rotor
5.3 Electrical Infrastructure
5.3.1 Substations
5.3.2 Cables
5.3.3 Transformers
5.4 Other Components
6 Global Onshore Wind Energy Market, By Capacity
6.1 Introduction
6.2 Less than 2 MW
6.3 2 MW to 3 MW
6.4 More than 3 MW
7 Global Onshore Wind Energy Market, By Application
7.1 Introduction
7.2 Utility-Scale Power Generation
7.3 Off-Grid Power Generation
7.4 Hybrid Energy Systems
7.5 Commercial Power Generation
7.6 Other Applications
8 Global Onshore Wind Energy Market, By End User
8.1 Introduction
8.2 Power Generation
8.3 Industrial
8.4 Residential
8.5 Government & Public Institutions
8.6 Agriculture & Rural Users
8.7 Other End Users
9 Global Onshore Wind Energy Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Clipper Wind Power (UK)
11.2 Dongfang Electric Corporation
11.3 ENERCON GmbH
11.4 Envision energy
11.5 Gazelle Wind Turbines
11.6 GE Renewable
11.7 Goldwind
11.8 Ming Yang Smart Energy Group Co.
11.9 Mitsubishi Power Systems
11.10 Nordex SE
11.11 Siemens Gamesa Renewable Energy S.A.
11.12 Sinovel
11.13 Suzlon
11.14 Vestas
11.15 Repower
List of Tables
1 Global Onshore Wind Energy Market Outlook, By Region (2022-2030) ($MN)
2 Global Onshore Wind Energy Market Outlook, By Component (2022-2030) ($MN)
3 Global Onshore Wind Energy Market Outlook, By Turbines (2022-2030) ($MN)
4 Global Onshore Wind Energy Market Outlook, By Blades (2022-2030) ($MN)
5 Global Onshore Wind Energy Market Outlook, By Tower (2022-2030) ($MN)
6 Global Onshore Wind Energy Market Outlook, By Nacelle (2022-2030) ($MN)
7 Global Onshore Wind Energy Market Outlook, By Rotor (2022-2030) ($MN)
8 Global Onshore Wind Energy Market Outlook, By Electrical Infrastructure (2022-2030) ($MN)
9 Global Onshore Wind Energy Market Outlook, By Substations (2022-2030) ($MN)
10 Global Onshore Wind Energy Market Outlook, By Cables (2022-2030) ($MN)
11 Global Onshore Wind Energy Market Outlook, By Transformers (2022-2030) ($MN)
12 Global Onshore Wind Energy Market Outlook, By Other Components (2022-2030) ($MN)
13 Global Onshore Wind Energy Market Outlook, By Capacity (2022-2030) ($MN)
14 Global Onshore Wind Energy Market Outlook, By Less than 2 MW (2022-2030) ($MN)
15 Global Onshore Wind Energy Market Outlook, By 2 MW to 3 MW (2022-2030) ($MN)
16 Global Onshore Wind Energy Market Outlook, By More than 3 MW (2022-2030) ($MN)
17 Global Onshore Wind Energy Market Outlook, By Application (2022-2030) ($MN)
18 Global Onshore Wind Energy Market Outlook, By Utility-Scale Power Generation (2022-2030) ($MN)
19 Global Onshore Wind Energy Market Outlook, By Off-Grid Power Generation (2022-2030) ($MN)
20 Global Onshore Wind Energy Market Outlook, By Hybrid Energy Systems (2022-2030) ($MN)
21 Global Onshore Wind Energy Market Outlook, By Commercial Power Generation (2022-2030) ($MN)
22 Global Onshore Wind Energy Market Outlook, By Other Applications (2022-2030) ($MN)
23 Global Onshore Wind Energy Market Outlook, By End User (2022-2030) ($MN)
24 Global Onshore Wind Energy Market Outlook, By Power Generation (2022-2030) ($MN)
25 Global Onshore Wind Energy Market Outlook, By Industrial (2022-2030) ($MN)
26 Global Onshore Wind Energy Market Outlook, By Residential (2022-2030) ($MN)
27 Global Onshore Wind Energy Market Outlook, By Government & Public Institutions (2022-2030) ($MN)
28 Global Onshore Wind Energy Market Outlook, By Agriculture & Rural Users (2022-2030) ($MN)
29 Global Onshore Wind Energy Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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