Global Wind Energy Market Size to Grow at a CAGR of 7.76% in the Forecast Period of 2023-2028

According to IMARC Group’s latest report, titled “Wind Energy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global wind energy market size reached a value of US$ 83.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 136.1 Billion by 2028, exhibiting a (CAGR) of 7.76% during 2023-2028.

Wind energy refers to a clean and renewable energy source used for generating electricity via a wind turbine that transforms kinetic energy into mechanical energy. It does not impact the environment, including fossil fuels and other conventional energy resources, that depend on combustion and emit nitrogen oxide (NO) as well as sulfur dioxide (SO2). In addition to this, wind energy is sustainable, cost-effective, commonly available, etc. Consequently, it finds wide-ranging applications in the commercial, industrial, and residential sectors across the globe.

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Wind Energy Market Trends:

The widespread adoption of renewable energy sources, owing to the rising consumer environmental concerns and the implementation of stringent regulations by government bodies across countries, is among the key factors stimulating the wind energy market. Moreover, the growing number of onshore and offshore wind farms is acting as another significant growth-inducing factor. Besides this, wind acts as a convenient resource for generating energy in remote locations where standard power lines cannot be extended, which is positively influencing the global market.

Furthermore, numerous improvements in the performance and reduction in the prices of wind power technologies are augmenting the market growth. Apart from this, the inflating need for wind energy is offering various long-term employment opportunities to individuals in manufacturing, construction and installation, maintenance and operations, legal and marketing services, transportation, and logistics of wind turbine components, which is also catalyzing the market growth. In line with this, the increasing investments by key market players in upcoming wind power projects are anticipated to fuel the wind energy market over the forecasted period.

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Wind Energy Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the wind energy market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • BB Ltd.
  • Ameren Corporation
  • Avangrid
  • Inc. (Iberdrola S.A),
  • Dnv (Det Norske Veritas group),
  • Enercon GmbH
  • General Electric Company
  • Goldwind
  • NextEra Energy Resources
  • LLC, Nordex SE, Siemens AG
  • Vestas Wind Systems A/S
  • Wind World (India) Limited
  • and Xcel Energy Inc.

Key Market Segmentation:

The report has segmented the wind energy market on the basis of component, rating, installation, turbine type and application.

Breakup by Component:

  • Turbine
  • Support Structure
  • Electrical Infrastructure
  • Others 

Breakup by Rating:

  • ≤ 2 MW
  • >2 ≤ 5 MW
  • >5 ≤ 8 MW
  • >8 ≤ 10 MW
  • >10 ≤ 12 MW
  • >12 MW

Breakup by Installation:

  • Offshore
  • Onshore

Breakup by Turbine Type:

  • Horizontal Axis
  • Vertical Axis

Breakup by Application:

  • Utility
  • Industrial
  • Commercial
  • Residential

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)

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This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Key Highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
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Country: United States
Website:  https://www.imarcgroup.com/

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