Wind energy generation in the APAC region has shown remarkable growth from 2013 to 2023, increasing from 188.47 Terawatthours to 1030 Terawatthours. The year-on-year variation has typically fluctuated, showcasing an impressive spike in 2021 with a 35.64% increase. Recently, the growth rate has stabilized with a 14.2% increase in 2023. Over the past five years, the compound annual growth rate (CAGR) remains a strong 17.36%, reflecting sustained expansion in the sector. The forecast for 2024 to 2028 indicates a slightly slower, yet steady CAGR of 7.37%, projecting continued increase in capacity to 1650 Terawatthours by 2028.
Future trends to watch for:
- Technological advancements in wind turbine efficiency and materials.
- Policy and regulatory changes impacting renewable energy investments.
- Increased regional collaboration for transboundary wind energy projects.
- Growing investments in offshore wind energy developments.
- The impact of global supply chain dynamics on wind turbine production and installation.
