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Wind Turbine Generator Market By Type (Synchronous, Asynchronous), By Capacity (Less than 3 MW, 3 MW – 7 MW, More than 7 MW), By Deployment (Onshore, Offshore) – Growth, Future Prospects and Competitive Landscape, 2019 – 2027

Name: Wind Turbine Generator Market - Demand, Size and Competitive Analysis
Creator: Credence Research Inc.
Published: 2019-11-04
License: https://www.credenceresearch.com/info/privacy-policy
Keywords: Wind Turbine Generator Market

Summary
Table Of Content
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Overview:

Wind energy is one of the cheapest forms of energy source. Depleting conventional energy sources and their ill effects are causing serious environmental problems. Countries of the world are reducing their over-dependence on fossil fuels and shifting towards renewable energy sources like wind. In the long run, wind energy will help to reduce CO2 emission, a gas responsible for depleting the ozone layer and, thereby, climate change. The commitment of countries of the world to increase their share in renewable energy and financial aid from governments has helped to grow the market in 2018.

Moreover, players are more focused on value-based creation, such as hybrid solutions, ease of integration, and power on demand. This has helped to reduce the losses along with higher and steadier output. It has also made hybrid solutions more cost-efficient. In addition, the digitalization of the operation and management of wind turbines further increases their efficiency, thereby supporting market growth.

Market Snapshot

Onshore Deployment Captures Largest Market Share

Onshore deployment of a wind turbine is cheaper and safer as compared to offshore installations. Moreover, offshore technology is yet to be fully developed and requires higher investment compared to onshore deployment. Also, only a few players have the technology of offshore/floating wind turbines, further reducing the offshore market share. Furthermore, the risk of wear and tear is more in offshore than onshore turbines, which further adds up to the maintenance cost of the turbine. In case of failure, a longer time is required to fix the problem. This has increased the cost of energy (LCOE) from offshore. Therefore, players are more focused on onshore wind turbines, which are simpler to build, operate, and supply energy at a lower cost. In 2018, the onshore segment accounted for over 85% of the total deployed capacity of the world.

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The Asia Pacific Gathered Over 40% Market Share in 2018

In the Asia Pacific, China is the major contributor to market growth. The stable auctioning policy of China has helped the country to install approximately 22 GW of capacity in a single year. In addition, India has contributed about 5% to the global share of installed capacity. Furthermore, the high demand for electricity from the population and the explosion of pollution in the cities have further driven the transition of Asian countries towards renewable sources like wind energy. This drove the market of wind turbine generators in 2018.

Competitive Insights

Major players profiled in the wind turbine generator market include Siemens AG, Suzlon Energy Limited, Vestas Wind Systems A/S, ABB, SANY, Leitner AG, ReGen Powertech, EWT, Nordex, SE, General Electric Company, and Goldwind, among others. In addition, these companies are innovating their current technology, such as increasing their capacity and lowering their LCOE to gain a larger share of the market.

For instance, in March 2018, General Electric Company unveiled its biggest offshore wind turbine, Haliade–X having a generator capacity of 12 MW. This new turbine will have 45% more energy than any other offshore turbine available today. With this new product, the company is expected to increase its share in the offshore segment.

Furthermore, in March 2018, Suzlon Energy Limited commissioned a generator, S128, the largest in India. This next-generation generator is featured with DFIG technology. This will help to reduce LCOE. With the commissioning of a new generator, the company is expected to increase its share in the Indian market.

Historical & Forecast Period

The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.

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Report Scope by Segments

The wind turbine generator market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global wind turbine generator market based on type, capacity, deployment, and geography. Key segments covered in the report are as follows:

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global WTG Market
2.2. Global WTG Market, by Type, 2018 (US$ Bn)
2.3. Global WTG Market, by Capacity, 2018 (US$ Bn)
2.4. Global WTG Market, by Deployment, 2018 (US$ Bn)
2.5. Global WTG Market, by Geography, 2018 (US$ Bn)

3. Market Dynamics
3.1. Introduction
3.1.1. Global WTG Market Value, 2017 – 2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players

4. Global Wind Turbine Generator (WTG) Market, by Type , 2017 – 2027 (US$ Bn)
4.1. Overview
4.2. Synchronous
4.3. Asynchronous

5. Global Wind Turbine Generator (WTG) Market, by Capacity, 2017 – 2027 (US$ Bn)
5.1. Overview
5.2. Less than 3 MW
5.3. 3 MW – 7 MW
5.4. More than 7 MW

6. Global Wind Turbine Generator (WTG) Market, by Deployment, 2017 – 2027 (US$ Bn)
6.1. Overview
6.2. Onshore
6.3. Offshore

7. North America Wind Turbine Generator (WTG) Market Analysis, 2017 – 2027 (US$ Bn)
7.1. Overview
7.1.1. North America WTG Market Value and Growth, 2017 – 2027, (US$ Bn)
7.2. North America WTG Market Value, By Type, 2017 – 2027 (US$ Bn)
7.2.1. Market Analysis
7.3. North America WTG Market Value, By Capacity, 2017 – 2027 (US$ Bn)
7.3.1. Market Analysis
7.4. North America WTG Market Value, By Deployment, 2017 – 2027 (US$ Bn)
7.4.1. Market Analysis
7.5. North America WTG Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
7.5.1. Market Analysis
7.5.2. U.S.
7.5.3. Rest of North America

8. Europe Wind Turbine Generator (WTG) Market Analysis, 2017 – 2027 (US$ Bn)
8.1. Overview
8.1.1. Europe WTG Market Value and Growth, 2017 – 2027, (US$ Bn)
8.2. Europe WTG Market Value, By Type, 2017 – 2027 (US$ Bn)
8.2.1. Market Analysis
8.3. Europe WTG Market Value, By Capacity, 2017 – 2027 (US$ Bn)
8.3.1. Market Analysis
8.4. Europe WTG Market Value, By Deployment, 2017 – 2027 (US$ Bn)
8.4.1. Market Analysis
8.5. Europe WTG Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
8.5.1. Market Analysis
8.5.2. U.K.
8.5.3. Germany
8.5.4. France
8.5.5. Rest of Europe

9. Asia Pacific Wind Turbine Generator (WTG) Market Analysis, 2017 – 2027 (US$ Bn)
9.1. Overview
9.1.1. Asia Pacific WTG Market Value and Growth, 2017 – 2027, (US$ Bn)
9.2. Asia Pacific WTG Market Value, By Type, 2017 – 2027 (US$ Bn)
9.2.1. Market Analysis
9.3. Asia Pacific WTG Market Value, By Capacity, 2017 – 2027 (US$ Bn)
9.3.1. Market Analysis
9.4. Asia Pacific WTG Market Value, By Deployment, 2017 – 2027 (US$ Bn)
9.4.1. Market Analysis
9.5. Asia Pacific WTG Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
9.5.1. Market Analysis
9.5.2. Japan
9.5.3. China
9.5.4. India
9.5.5. Rest of Asia Pacific

10. Rest of the World Wind Turbine Generator (WTG) Market Analysis, 2017 – 2027 (US$ Bn)
10.1. Overview
10.1.1. Rest of the World WTG Market Value and Growth, 2017 – 2027, (US$ Bn)
10.2. Rest of the World WTG Market Value, By Type, 2017 – 2027 (US$ Bn)
10.2.1. Market Analysis
10.3. Rest of the World WTG Market Value, By Capacity, 2017 – 2027 (US$ Bn)
10.3.1. Market Analysis
10.4. Rest of the World WTG Market Value, By Deployment, 2017 – 2027 (US$ Bn)
10.4.1. Market Analysis
10.5. Rest of the World WTG Market Value, By Region, 2017 – 2027 (US$ Bn)
10.5.1. Market Analysis
10.5.2. Middle East & Africa
10.5.3. Latin America

11. Company Profiles
11.1. Siemens AG
11.2. Suzlon Energy Limited
11.3. Vestas Wind Systems A/S
11.4. ABB
11.5. SANY
11.6. Leitner AG
11.7. ReGen Powertech
11.8. EWT
11.9. Nordex SE
11.10. General Electric Company
11.11. Goldwind

List of Figures

FIG. 1 Global Wind Turbine Generator (WTG) Market: Research methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global WTG Market Segmentation
FIG. 4 Global WTG Market, by Type, 2018, (US$ Bn)
FIG. 5 Global WTG Market, by Capacity, 2018, (US$ Bn)
FIG. 6 Global WTG Market, by Deployment, 2018, (US$ Bn)
FIG. 7 Global WTG Market, by Geography, 2018 (US$ Bn)
FIG. 8 Global WTG Market Value, 2017 – 2027, (US$ Bn) and (Y-o-Y %)
FIG. 9 Attractive Investment Proposition, by Geography, 2018
FIG. 10 Global Market Positioning of Key WTG Providers, 2018
FIG. 11 Global WTG Market Value Share, by Type, 2018 & 2027 (Value %)
FIG. 12 Global Synchronous WTG Market Value, 2017 – 2027, (US$ Bn)
FIG. 13 Global Asynchronous WTG Market Value, 2017 – 2027, (US$ Bn)
FIG. 14 Global WTG Market Value Share, by Capacity, 2018 & 2027 (Value %)
FIG. 15 Global WTG Market Value for Capacity Less than 3 MW, 2017 – 2027, (US$ Bn)
FIG. 16 Global WTG Market Value for Capacity 3 MW to 7 MW, 2017 – 2027, (US$ Bn)
FIG. 17 Global WTG Market Value for Capacity More than 7 MW, 2017 – 2027, (US$ Bn)
FIG. 18 Global WTG Market Value Share, by Deployment, 2018 & 2027 (Value %)
FIG. 19 Global WTG Market Value for Onshore Deployment, 2017 – 2027, (US$ Bn)
FIG. 20 Global WTG Market Value for Offshore Deployment, 2017 – 2027, (US$ Bn)
FIG. 21 North America WTG Market Value, 2017 – 2027, (US$ Bn)
FIG. 22 Europe WTG Market Value, 2017 – 2027, (US$ Bn)
FIG. 23 Asia Pacific WTG Market Value, 2017 – 2027, (US$ Bn)
FIG. 24 Rest of the World WTG Market Value, 2017 – 2027, (US$ Bn)

List of Tables

TABLE 1 Market Snapshot: Global Wind Turbine Generator (WTG) Market Value
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 Global WTG Market, by Type, 2017-2027, (US$ Bn)
TABLE 5 Global WTG Market, by Capacity, 2017 – 2027, (US$ Bn)
TABLE 6 Global WTG Market, by Deployment, 2017 – 2027, (US$ Bn)
TABLE 7 Global WTG Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 8 North America WTG Market, by Type, 2017-2027, (US$ Bn)
TABLE 9 North America WTG Market, by Capacity, 2017 – 2027, (US$ Bn)
TABLE 10 North America WTG Market, by Deployment, 2017 – 2027, (US$ Bn)
TABLE 11 North America WTG Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 12 Europe WTG Market, by Type, 2017-2027, (US$ Bn)
TABLE 13 Europe WTG Market, by Capacity, 2017 – 2027, (US$ Bn)
TABLE 14 Europe WTG Market, by Deployment, 2017 – 2027, (US$ Bn)
TABLE 15 Europe WTG Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 16 Asia Pacific WTG Market, by Type, 2017-2027 (US$ Bn)
TABLE 17 Asia Pacific WTG Market, by Capacity, 2017 – 2027 (US$ Bn)
TABLE 18 Asia Pacific WTG Market, by Deployment, 2017 – 2027 (US$ Bn)
TABLE 19 Asia Pacific WTG Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 20 Rest of the World WTG Market, by Type, 2017 – 2027, (US$ Bn)
TABLE 21 Rest of the World WTG Market, by Capacity, 2017 – 2027, (US$ Bn)
TABLE 22 Rest of the World WTG Market, by Deployment, 2017 – 2027, (US$ Bn)
TABLE 23 Rest of the World WTG Market Value, by Region, 2017 – 2027, (US$ Bn)
TABLE 24 Siemens AG: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 25 Suzlon Energy Limited: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 26 Vestas Wind Systems A/S: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 27 ABB: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 28 SANY: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 29 Leitner AG: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 30 ReGen Powertech: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 31 EWT: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 32 Nordex SE: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 33 General Electric Company: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 34 Goldwind: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)

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Frequently Asked Questions

What is the size of Wind Turbine Generator Market?

The market for Wind Turbine Generator Market is expected to reach US$ XX Bn in 2027.

What is the Wind Turbine Generator Market CAGR?

The Wind Turbine Generator Market is expected to see significant CAGR growth over the coming years, at XX%.

What is the Forecast period considered for Wind Turbine Generator Market?

The report is forecasted from 2018-2027.

What is the base year considered for Wind Turbine Generator Market?

The base year of this report is 2018.

Who are the major players in this market?

Siemens AG, Suzlon Energy Limited, Vestas Wind Systems A/S, ABB, SANY, Leitner AG are some of the major players in the global market.

About Author

Sushant Phapale

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Sushant is an expert in ICT, automation, and electronics with a passion for innovation and market trends.

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