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Wind Turbine Global Market Report 2022

Wind Turbine Global Market Report 2022

  • August 2022
  • 175 pages
  • ID: 6316481
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the wind turbine market are Enercon GmbH, Gamesa, General Electric, Goldwind, Guodian United Power Technology Company Ltd, Ming Yang, Sinovel Wind Group Co Ltd, Suzlon Energy Ltd, Vestas Wind Systems A/S, Nordex SE, Senvion, Northern Power Systems, Clipper, Bergey, Impsa, Hitachi Ltd, Vergnet, Xinjiang Goldwind Science And Technology Co Ltd, Eaton Corporation PLC, Windey Co Ltd, Dongfang Electric Corporation, Bilfinger Offshore Wind Energy, ZF Wind Power Antwerpen, Leitwind, Wobben, and LM Windpower.

The global wind turbine market is expected to grow from $66.85 billion in 2021 to $71.93 billion in 2022 at a compound annual growth rate (CAGR) of 7.6%. The wind turbine market is expected to grow to $97.48 billion in 2026 at a CAGR of 7.9%.

The wind turbine market consists of sales of wind turbines by entities (organizations, sole traders, and partnerships) that refer to a power generating device that has been driven by the kinetic energy of the wind.A wind turbine will turn wind energy into electricity using the aerodynamic force from the rotor blades, which work like an airplane wing or helicopter rotor blade.

When wind flows across the blade, the air pressure on one side of the blade will be decreasing. Wind turbines consist of two categories horizontal axis wind turbines and vertical axis wind turbines.

The main types of a wind turbines are rotator blade, gearbox, generator, nacelle, and others.Rotor blades are the most important parts of a wind turbine in the performance and cost of the wind power system.

The shape of the rotor blades has a direct impact on performance as it will be deciding the conversion of kinetic energy related to the wind to mechanical energy.The axis of a wind turbine are horizontal and vertical that can be deployed onshore and offshore.

They can be connected by grid or stand-alone with applications in industrial, commercial, residential and utility.

Asia Pacific was the largest region in the wind turbine market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in wind turbine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The wind turbine market research report is one of a series of new reports that provides wind turbine market statistics, including wind turbine industry global market size, regional shares, competitors with a wind turbine market share, detailed wind turbine market segments, market trends and opportunities, and any further data you may need to thrive in the wind turbine industry. This wind turbine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Increasing demand for renewable energy sources is contributing to the growth of the wind turbine market.A renewable energy source refers to an energy source that is repeatedly replenished without running out.

Most of this energy will come from fossil fuels like coal, oil, and natural gas.The wind is a renewable energy source.

Overall, using wind to produce energy has fewer effects on the environment than other energy sources.Wind turbines will not release emissions that will pollute the air or water and they do not require water for cooling.

Wind turbines will also reduce the amount of electricity generation from fossil fuels, which results in lower total air pollution and carbon dioxide emissions. For instance, according to IEA data 2021, Paris-based autonomous intergovernmental organization, renewable energy use increased by 3% in 2020 as demand for all other fuels declined. Moreover, the amount of electricity generated from renewables is set to increase too by 8% in 2021 and more than 6% in 2022. Increasing demand for renewable energy sources drives the growth of the wind turbine market.

Technological enhancements are shaping the wind turbine market.The technology on the offshore direct drive platform allows for the re-use of most components from previous generations.

In January 2019, Siemens Gamesa Renewable Energy, a Spanish-German wind engineering company, launched the SG 10.0-193 DD, the company’s first 10+ MW offshore wind turbine. The new SG 10.0-193 DD will combine experiences and knowledge from five generations of proven direct drive technology in one 10 MW turbine. The yearly energy production of one SG 10.0-193 DD is enough to power about 10,000 European dwellings.

In January 2020, Siemens Gamesa, a Germany-based company that manufactures wind turbines and provides onshore and offshore wind services acquired Senvion for an undisclosed amount. This acquisition of Senvion Siemens Gamesa Renewable Energy’s Service Unit will strengthen its competitive position in Europe by adding approximately 9.0 GW serviced fleet and operations in 13 countries, and by increasing the total serviced fleet to approximately 69 GW globally. Senvion is a Germany-based manufacturer of wind turbines.

The countries covered in the wind turbine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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