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In 2022, the size of the onshore wind energy market was estimated at USD 48.5 billion. A compound annual growth rate (CAGR) of 5.90% is anticipated for the onshore wind energy market business from 2022 to 2030, rising from USD 50.88 billion in 2022 to USD 71.11 billion. The primary market drivers accelerating market expansion include an increase in the framework of energy supply and demand and increased demand for renewable energy in power generation.
The widespread use of onshore wind energy has ushered in a new era in the global energy transition and is one of the most cost-effective sources of electricity in most countries. Wind power is one of the most eco-friendly energy options. The power of the wind can be captured by using wind turbines. Thus, wind energy is harnessed and converted into electricity, which is then used to run a wide range of consumer and industrial appliances. The wind powers the turbine's blades, which are connected to a rotor and, ultimately, the generator's main shaft. This main shaft rotates a generator, which produces electricity. Natural resource depletion and government efforts to explore other energy sources drive the global wind turbine sector. There is a rising awareness of the need to protect the environment, and many nations are taking steps to do so. Therefore, there is a growing interest in eco-friendly power sources. The number of people who see climate change as the world's biggest issue is growing. The price of power generated by wind is expected to decrease in the near future as a result of technological developments. Onshore wind is far better for the environment than fossil fuels like coal, oil, and natural gas. Therefore, wind is projected to grow in importance as a power source during the coming years. These methods have been around for decades and are rapidly gaining popularity as viable energy options for a growing number of nations. The worldwide market for onshore wind energy equipment is worth billions.
The assistance from various governments of various nations in terms of policies and investments for extending the installation of wind energy projects is projected to fuel market expansion over the next years. Additionally, the UK government committed to securing fresh funding for offshore wind projects worth US$ 272 million. The market's growth will likely be fueled by the leading nations' increased attempts to use wind energy. For instance, in January 2022, Brazil unveiled its first offshore wind power generation regulations. Shell submitted a request for environmental approval to the Brazilian Institute of Environment and Renewable Natural Resources (IBAMA) in March 2021 in order to construct offshore wind farms along Brazil's coast. A contract for the delivery of wind turbines to the Serra das Vacas wind farms in the Brazilian state of Pernambuco was also signed in July 2022 by PEC Energia and Vestas, a division of Engeform Energia Renovável. Therefore, the market's growth is significantly influenced by leading manufacturers' increased efforts to produce wind turbines and apply for permission to construct offshore wind farms. Governmental initiatives to promote the development of wind farms have so increased the CAGR of the onshore wind energy industry globally in recent years.
Additionally, due to ongoing technological progress, increased demand for the construction of wind farms, and rising power consumption, the market is anticipated to expand quickly over the course of the projected period. Additionally projected are significant market expansion and technical development from key industry participants. The sector is also being stimulated by the rise in projects for the construction of wind farms and wind parks. A common option for nations looking to reduce their dependency on fossil fuels is onshore wind energy. Investors find this to be particularly tempting because to the low initial investment costs and high return on investment. As a result, another element boosting the growth of the onshore wind energy market revenue is the rising demand for the development of wind farms. Utilities, commercial & industrial, and hybrid power are the three end-use categories included in the segmentation of the onshore wind energy market. In terms of revenue from the onshore wind energy market, the utilities sector held the lion's share in 2021. In light of the growing global demand for electricity, utilities are the key shareholder. Additionally, the commercial and industrial sector of the onshore wind energy market is the one that is expanding the fastest.
Peak power management, power storage, demand response, frequency response, and system stability have all been included in the segments of the global market statistics. Peak power management was the market's largest sector in 2021, and it is anticipated to grow at the fastest rate from 2022 to 2030. Applications for peak power management are expected to dominate the market due to the increased demand for electricity during peak hours. Therefore, the peak power management segment has a beneficial effect on the growth of the onshore wind energy industry.
Report Coverage
Global Onshore Wind Energy research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Onshore Wind Energy report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Onshore Wind Energy competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Onshore Wind Energy market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Onshore Wind Energy market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Onshore Wind Energy market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Siemens AG (Germany), Envision energy (China), General Electric Wind Energy (U.S.), Suzlon (India), Vestas Wind System A/S (Denmark), Enercon GmbH (Germany), Mitsubishi Power Systems (Japan), Nordex S.E. (Germany), Repower (Switzerland), Gazelle Wind Turbines (U.K.), and Clipper Wind Power (UK)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Onshore Wind Energy market based on the below-mentioned segments:
Global Onshore Wind Energy Market, By Power Capacity
Less Than 500 KW
500 KW To 2 MW
More Than 2 MW
Global Onshore Wind Energy market, By Application
Peak Power Management
Power Storage
Demand Response
Frequency Response
System Stability
Global Onshore Wind Energy Market, By End User
Utilities
Commercial & Industrial
Hybrid Power
Global Onshore Wind Energy market, Regional Analysis
The widespread use of onshore wind energy has ushered in a new era in the global energy transition and is one of the most cost-effective sources of electricity in most countries. Wind power is one of the most eco-friendly energy options. The power of the wind can be captured by using wind turbines. Thus, wind energy is harnessed and converted into electricity, which is then used to run a wide range of consumer and industrial appliances. The wind powers the turbine's blades, which are connected to a rotor and, ultimately, the generator's main shaft. This main shaft rotates a generator, which produces electricity. Natural resource depletion and government efforts to explore other energy sources drive the global wind turbine sector. There is a rising awareness of the need to protect the environment, and many nations are taking steps to do so. Therefore, there is a growing interest in eco-friendly power sources. The number of people who see climate change as the world's biggest issue is growing. The price of power generated by wind is expected to decrease in the near future as a result of technological developments. Onshore wind is far better for the environment than fossil fuels like coal, oil, and natural gas. Therefore, wind is projected to grow in importance as a power source during the coming years. These methods have been around for decades and are rapidly gaining popularity as viable energy options for a growing number of nations. The worldwide market for onshore wind energy equipment is worth billions.
The assistance from various governments of various nations in terms of policies and investments for extending the installation of wind energy projects is projected to fuel market expansion over the next years. Additionally, the UK government committed to securing fresh funding for offshore wind projects worth US$ 272 million. The market's growth will likely be fueled by the leading nations' increased attempts to use wind energy. For instance, in January 2022, Brazil unveiled its first offshore wind power generation regulations. Shell submitted a request for environmental approval to the Brazilian Institute of Environment and Renewable Natural Resources (IBAMA) in March 2021 in order to construct offshore wind farms along Brazil's coast. A contract for the delivery of wind turbines to the Serra das Vacas wind farms in the Brazilian state of Pernambuco was also signed in July 2022 by PEC Energia and Vestas, a division of Engeform Energia Renovável. Therefore, the market's growth is significantly influenced by leading manufacturers' increased efforts to produce wind turbines and apply for permission to construct offshore wind farms. Governmental initiatives to promote the development of wind farms have so increased the CAGR of the onshore wind energy industry globally in recent years.
Additionally, due to ongoing technological progress, increased demand for the construction of wind farms, and rising power consumption, the market is anticipated to expand quickly over the course of the projected period. Additionally projected are significant market expansion and technical development from key industry participants. The sector is also being stimulated by the rise in projects for the construction of wind farms and wind parks. A common option for nations looking to reduce their dependency on fossil fuels is onshore wind energy. Investors find this to be particularly tempting because to the low initial investment costs and high return on investment. As a result, another element boosting the growth of the onshore wind energy market revenue is the rising demand for the development of wind farms. Utilities, commercial & industrial, and hybrid power are the three end-use categories included in the segmentation of the onshore wind energy market. In terms of revenue from the onshore wind energy market, the utilities sector held the lion's share in 2021. In light of the growing global demand for electricity, utilities are the key shareholder. Additionally, the commercial and industrial sector of the onshore wind energy market is the one that is expanding the fastest.
Peak power management, power storage, demand response, frequency response, and system stability have all been included in the segments of the global market statistics. Peak power management was the market's largest sector in 2021, and it is anticipated to grow at the fastest rate from 2022 to 2030. Applications for peak power management are expected to dominate the market due to the increased demand for electricity during peak hours. Therefore, the peak power management segment has a beneficial effect on the growth of the onshore wind energy industry.
Report Coverage
Global Onshore Wind Energy research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Onshore Wind Energy report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Onshore Wind Energy competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Onshore Wind Energy market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Siemens AG (Germany), Envision energy (China), General Electric Wind Energy (U.S.), Suzlon (India), Vestas Wind System A/S (Denmark), Enercon GmbH (Germany), Mitsubishi Power Systems (Japan), Nordex S.E. (Germany), Repower (Switzerland), Gazelle Wind Turbines (U.K.), and Clipper Wind Power (UK) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Onshore Wind Energy Market from 2021 to 2030.
- Market Forecast for Onshore Wind Energy Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Onshore Wind Energy competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Onshore Wind Energy
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Onshore Wind Energy market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Onshore Wind Energy market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Siemens AG (Germany), Envision energy (China), General Electric Wind Energy (U.S.), Suzlon (India), Vestas Wind System A/S (Denmark), Enercon GmbH (Germany), Mitsubishi Power Systems (Japan), Nordex S.E. (Germany), Repower (Switzerland), Gazelle Wind Turbines (U.K.), and Clipper Wind Power (UK)
Primary Target Market
- Market Players of Onshore Wind Energy
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Onshore Wind Energy market based on the below-mentioned segments:
Global Onshore Wind Energy Market, By Power Capacity
Less Than 500 KW
500 KW To 2 MW
More Than 2 MW
Global Onshore Wind Energy market, By Application
Peak Power Management
Power Storage
Demand Response
Frequency Response
System Stability
Global Onshore Wind Energy Market, By End User
Utilities
Commercial & Industrial
Hybrid Power
Global Onshore Wind Energy market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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