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Wind Turbine Market By Turbine Capacity (Up To 1 MW, 1-3 MW, 3-10 MW, 10 MW And Above), By Application (Onshore, Offshore) – Growth, Future Prospects, And Competitive Analysis, 2017 – 2025

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Market Insights

Electricity production using wind turbines harnesses wind energy at a particular location. Advanced computer modeling techniques are used to calculate wind force and the amount of electricity that can be generated from it. Wind turbines are primarily utilized to convert the kinetic energy of the wind into usable electrical energy. The government actively supports the generation of power from renewable sources. Some of the major provisional schemes undertaken by governments to support power generation using renewable energies include electricity generation feed-in tariffs (combining auction costs), tax holidays (tax credits) to players venturing into wind power generation, and leverage of preferential grant access. Apart from providing financial support for setting up wind farms, the governments also floated schemes to attract domestic and foreign players to venture into wind power.

The additional cost for grid management, which may result from wind variability, is usually not recognized by the generators of electricity through wind turbines. The cost of wind power is below the cost of fossil and nuclear power generation.

The global wind turbine market is segmented by region into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2016, Asia Pacific led the global wind turbine market and was followed by Europe and North America. Together, the regions accounted for a little more than 90% of the market. Major wind farms globally utilize up to 7.5 MW wind turbines for offshore operations. However, some countries from the Asia Pacific (China, Australia) and European (Germany and France) regions have projects that are expected to utilize high-capacity turbines with capacities of up to 15 M.W. for offshore operations. Onshore wind turbines with capacities ranging from 5 kW to 15 M.W. are currently in operation.

The key turbine manufacturers, developers, suppliers, and service providers are, but are not limited to: ACCIONA S.A., DNV-GL, Envision Energy, Iberdrola Renewables LLC, L.M. Wind Power, SUZLON Ltd., Vestas Wind Systems A/S, Siemens-Gamesa Renewable Energy Systems Ltd., ReNew Power Ventures Pvt. Ltd., HUNTSMAN International LLC, PNE Wind AG, NEXANS S.A., MAN Engines, Ventus Wind Turbines, Inc., and a subsidiary of the company.

Purpose of the Report

The purpose of this strategic research study titled “Wind Turbine Market: Growth, Future Prospects, and Competitive Analysis, 2017–2025” is to offer industry investors, company executives, and other industry participants with in-depth insights to enable them to make informed strategic decisions related to the opportunities in the wind turbine market.

Target Audience

  • Industry Investors
  • Manufacturers of wind turbines
  • End User Industries

On the basis of its turbine capacity, the global wind turbine market is categorized into the following segments:

  • Up to 1 M.W.
  • 1-3 M.W.
  • 3-10 M.W.
  • 10 M.W. and Higher

A group of wind turbines is collectively referred to as a “wind farm.” A wind farm may consist of a few wind turbines or several hundred wind turbines distributed over a designated area both onshore and offshore. With onshore wind turbines, there is high land utilization since the spacing between the individual turbines is high. The space between two turbines (windmills) is primarily used for agricultural purposes. The other uses of the spacing include utility grid connection and solar power (solar cells) combined with power generated by the wind turbines.

The approximate size of the onshore wind turbines that are manufactured today is 3 M.W. (2.5–3 M.W.). The approximate size of the offshore wind turbines that are manufactured today is 3.6–4 M.W. Major wind farms globally utilize up to 7.5 MW wind turbines for offshore operations. However, some countries from the Asia Pacific (China, Australia) and European (Germany and France) regions have projects that are expected to utilize high-capacity turbines with capacities of up to 15 M.W. for offshore operations. Onshore wind turbines with capacities ranging from 5 kW to 15 M.W. are currently in operation.

On the basis of its applications, the global wind turbine market is categorized into the following segments:

  • Onshore
  • Offshore

The wind’s kinetic energy is utilized to run the propellers around the rotor. This rotor is connected to the wind turbine’s main shaft, which spins the generator to generate electricity. Wind power is considered a proven alternative to conventional fossil fuels. It is abundant, renewable, extensively distributed (onshore and offshore), uncontaminated, and produces no greenhouse gas emissions during operation.

A group of wind turbines is collectively referred to as a “wind farm.” A wind farm may consist of a few wind turbines or several hundred wind turbines distributed over a designated area both onshore and offshore. With onshore wind turbines, there is high land utilization since the spacing between the individual turbines is high. The space between two turbines (windmills) is primarily used for agricultural purposes. The other uses of the spacing include utility grid connection and solar power (solar cells) combined with power generated by the wind turbines.

The construction of large wind farms in water bodies (lakes, seas, and oceans) to generate electric power is typically termed “offshore wind turbines.” The availability of the most powerful wind forces, the fact that the fuel (wind) is uninterrupted and continuous, and the fact that the net power generation is continuous when compared to land-based wind power projects are some of the major advantages of offshore installations.

Based on geographical distribution, the global wind turbine market is segmented into the following categories:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • U.K.
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • Japan
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

The global wind turbine market is segmented by region into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2016, the global wind turbine market was led by Denmark, the U.K., China, the U.S., Germany, India, France, Turkey, and the Netherlands. The Asia-Pacific region had the highest number of new installations, specifically in China, India, Japan, and India. The region is expected to have wide outreach for the forecast period.

Wind power has great benefits from government-supported schemes. The type of support varies from country to country and region to region. The provision schemes established are feed-in tariffs, feed-in renewable portfolio standards (combining auctions), and energy operation and creation tax credits. Besides financial support, wind power has the leverage of preferential grant access globally. The additional cost for grid management is usually not recognized by the generators of electricity through wind turbines. The cost of wind power is below the cost of fossil and nuclear power generation.

High-growth regions by 2025 would be Asia Pacific, North America, and Europe. Asia Pacific, with countries like China and India, is expected to have the highest market outreach of any other region. The recently concluded Paris Climate Change Conference has mandated energy generators look into the renewable sector for power needs. This has already impacted the cost of producing electricity. Overall, electricity generation costs are expected to fall in Asia Pacific and other regions in order to meet carbon emission targets. Thus, the wind turbine market is expected to witness high growth globally for the forecast period.

Chapter 1. Preface
1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase II-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted
1.3. Market Segmentation

Chapter 2. Executive Summary
2.1. Global Wind Turbine Market Portraiture
2.1.1. Global Wind Turbine Market, by Turbine Capacity, 2016 (GW) (US$ Bn)
2.1.2. Global Wind Turbine Market, by Application, 2016 (GW) (US$ Bn)
2.1.3. Global Wind Turbine Market, by Geography, 2016 (GW) (US$ Bn)

Chapter 3. Wind Turbine Market: Market Dynamics and Future Outlook
3.1. Market Overview
3.2. Drivers
3.2.1. Environmental Benefits Associated with Wind Power generation
3.2.2. Low Operation & Maintenance (O&M) Cost as compared to fossil fuel based power generation
3.3. Challenges
3.3.1. Competition With Conventional Generation Sources
3.3.2. Remote Location Requiring Additional Costs of Laying Transmission Lines
3.4. Opportunities
3.4.1. Reduction In Over-Reliance on Fossil Fuels
3.4.2. During Functioning, the Operation & Maintenance Costs Are Less than Conventional Fuel Powered Turbines.
3.5. Porter’s Five Forces Analysis
3.6. Attractive Investment Proposition, by Geography, 2016
3.7. Competitive Landscape
3.7.1. Competitive Landscape, by Key Players, 2016

Chapter 4. Global Wind Turbine Market, by Turbine Capacity, 2015 – 2025 (GW) (US$ Bn)
4.1. Overview
4.1.1. Attractive Investment Proposition: Global Wind Turbine Market, by Turbine Capacity
4.2. Up to 1 MW
4.3. 1-3 MW
4.4. 3-10 MW
4.5. 10 MW and Above

Chapter 5. Global Wind Turbine Market, by Application, 2015 – 2025 (GW) (US$ Bn)
5.1. Overview
5.1.1. Attractive Investment Proposition: Global Wind Turbine Market, by Application
5.2. Onshore
5.3. Offshore

Chapter 6. Global Wind Turbine Market, by Geography, 2015 – 2025 (GW) (US$ Bn)
6.1. Overview
6.2. North America Wind Turbine Market Analysis, 2015 – 2025
6.2.1. North America Wind Turbine Market, by Turbine Capacity, 2015 – 2025 (GW) (US$ Bn)
6.2.2. North America Wind Turbine Market, by Application, 2015 – 2025 (GW) (US$ Bn)
6.2.3. North America Wind Turbine Market, by Country, 2015 – 2025 (GW) (US$ Bn)
6.2.3.1. U.S.
6.2.3.2. Canada
6.3. Europe Wind Turbine Market Analysis, 2015 – 2025
6.3.1. Europe Wind Turbine Market, by Turbine Capacity, 2015 – 2025 (GW) (US$ Bn)
6.3.2. Europe Wind Turbine Market, by Application, 2015 – 2025 (GW) (US$ Bn)
6.3.3. Europe Wind Turbine Market, by Country, 2015 – 2025 (GW) (US$ Bn)
6.3.3.1. Denmark
6.3.3.2. Portugal
6.3.3.3. Germany
6.3.3.4. Ireland
6.3.3.5. U.K.
6.3.3.6. Rest of Europe
6.4. Asia Pacific Wind Turbine Market Analysis, 2015 – 2025
6.4.1. Asia Pacific Wind Turbine Market, by Turbine Capacity, 2015 – 2025 (GW) (US$ Bn)
6.4.2. Asia Pacific Wind Turbine Market, by Application, 2015 – 2025 (GW) (US$ Bn)
6.4.3. Asia Pacific Wind Turbine Market, by Country, 2015 – 2025 (GW) (US$ Bn)
6.4.3.1. China
6.4.3.2. Japan
6.4.3.3. India
6.4.3.4. Rest of APAC
6.5. Latin America Wind Turbine Market Analysis, 2015 – 2025
6.5.1. Latin America Wind Turbine Market, by Turbine Capacity, 2015 – 2025 (GW) (US$ Bn)
6.5.2. Latin America Wind Turbine Market, by Application, 2015 – 2025 (GW) (US$ Bn)
6.5.3. Latin America Wind Turbine Market, by Country, 2015 – 2025 (GW) (US$ Bn)
6.5.3.1. Brazil
6.5.3.2. Uruguay
6.5.3.3. Peru
6.5.3.4. Argentina
6.5.3.5. Rest of Latin America
6.6. Middle East & Africa (MEA) Wind Turbine Market Analysis, 2015 – 2025
6.6.1. MEA Wind Turbine Market, by Turbine Capacity, 2015 – 2025 (GW) (US$ Bn)
6.6.2. MEA Wind Turbine Market, by Application, 2015 – 2025 (GW) (US$ Bn)
6.6.3. MEA Wind Turbine Market, by Region, 2015 – 2025 (GW) (US$ Bn)
6.6.3.1. GCC
6.6.3.2. South Africa
6.6.3.3. Kenya
6.6.3.4. Rest of MEA

Chapter 7. Company Profiles
7.1. ACCIONA S.A
7.1.1. Business Description
7.1.2. Financial Information (Subject to data availability)
7.1.3. Product Portfolio
7.1.4. Key Developments
7.2. DNV-GL
7.3. Envision Energy
7.4. FFC Energy
7.5. Fraunhofer IWES
7.6. Iberdrola Renewables LLC.
7.7. LM Wind Power
7.8. MAN Engines
7.9. Nexans S.A
7.10. PNE Wind
7.11. ReNew Power
7.12. Siemens Gamesa
7.13. Renewable Energy Systems Ltd.
7.14. SUZLON Ltd.
7.15. Vestas Wind Systems A/S
7.16. Ventus Wind Turbines, Inc.

List of Figures

FIG. 1 Wind Turbine: Market Segmentation
FIG. 2 Global Wind Turbine Market, by Turbine Capacity, 2016 (GW) (US$ Bn)
FIG. 3 Global Wind Turbine Market, by Application, 2016 (GW) (US$ Bn)
FIG. 4 Global Wind Turbine Market, by Geography, 2016 (GW) (US$ Bn)
FIG. 5 Attractive Investment Proposition, by Geography, 2016
FIG. 6 Market Competition Landscape, by Key Players, 2016
FIG. 7 Global Wind Turbine Up to 1 MW Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 8 Global Wind Turbine 1-3 MW Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 9 Global Wind Turbine 3-10 MW Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 10 Global 10 MW and Above Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 11 Global Wind Turbine for Onshore Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 12 Global Wind Turbine for Offshore Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 13 North America Wind Turbine by Turbine Capacity Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 14 U.S. Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 15 Canada Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 16 Europe Wind Turbine by Turbine Capacity Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 17 Denmark Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 18 Portugal Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 19 Germany Wind Turbine Market, 2015-2025 (GW) (US$ Bn)
FIG. 20 Ireland Wind Turbine Market, 2015 – 2025, (GW) (US$ Bn)
FIG. 21 U.K. Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 22 Rest of Europe Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 23 Asia Pacific Wind Turbine Market, by Turbine Capacity Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 24 Japan Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 25 China Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 26 India Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 27 Rest of Asia Pacific Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 28 Latin America Wind Turbine, by Turbine Capacity Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 29 Brazil Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 30 Uruguay Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 31 Peru Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 32 Argentina Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 33 Mexico Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 34 Rest of Latin America Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 35 Middle East and Africa Wind Turbine by Turbine Capacity Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 36 GCC Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 37 South Africa Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)
FIG. 38 Kenya Wind Turbine Market, 2015 – 2025 ((GW) (US$ Bn)
FIG. 39 Rest of Middle East and Africa Wind Turbine Market, 2015 – 2025 (GW) (US$ Bn)

List of Tables

TABLE 1 Global Wind Turbine Market, by Turbine Capacity, 2015 – 2025 (GW) (US$ Bn)
TABLE 2 Global Wind Turbine Market, by Application, 2015 – 2025 (GW) (US$ Bn)
TABLE 3 Global Wind Turbine Market, by Geography, 2015 – 2025 (GW) (US$ Bn)
TABLE 4 North America Wind Turbine Market, by Turbine Capacity, 2015 – 2025 (GW) (US$ Bn)
TABLE 5 North America Wind Turbine Market, by Application, 2015 – 2025 (GW) (US$ Bn)
TABLE 6 North America Wind Turbine Market, by Country, 2015 – 2025 (GW) (US$ Bn)
TABLE 7 Europe Wind Turbine Market, by Turbine Capacity, 2015 – 2025 (GW) (US$ Bn)
TABLE 8 Europe Wind Turbine Market, by Application, 2015 – 2025 (GW) (US$ Bn)
TABLE 9 Europe Wind Turbine Market, by Country, 2015 – 2025 (GW) (US$ Bn)
TABLE 10 Asia Pacific Wind Turbine Market, by Turbine Capacity, 2015 – 2025 (GW) (US$ Bn)
TABLE 11 Asia Pacific Wind Turbine Market, by Application, 2015 – 2025 (GW) (US$ Bn)
TABLE 12 Asia Pacific Wind Turbine Market, by Country, 2015 – 2025 (GW) (US$ Bn)
TABLE 13 Latin America Wind Turbine Market, by Turbine Capacity, 2015 – 2025 (GW) (US$ Bn)
TABLE 14 Latin America Wind Turbine Market, by Application, 2015 – 2025 (GW) (US$ Bn)
TABLE 15 Latin America Wind Turbine Market, by Country, 2015 – 2025 (GW) (US$ Bn)
TABLE 16 Middle East and Africa Wind Turbine Market, by Turbine Capacity, 2015 – 2025 (GW) (US$ Bn)
TABLE 17 Middle East and Africa Wind Turbine Market, by Application, 2015 – 2025 (GW) (US$ Bn)
TABLE 18 Middle East and Africa Wind Turbine Market, by Region, 2015 – 2025 (GW) (US$ Bn)
TABLE 19 ACCIONA: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 20 DNV-GL: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 21 Envision: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 22 Iberdrola Renewables: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 23 LM Wind Power: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 24 SUZLON: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 25 Vestas: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 26 Siemens Gamesa: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 27 ReNew Power: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 28 PNE Wind: (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 29 FFC Energy: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 30 NEXANS: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 31 Fraunhofer IWES: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 32 MAN: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 33 Ventus: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)

Frequently Asked Questions

What is the size of Wind Turbine Market?

The market for Wind Turbine is expected to reach XX Bn in 2025.

What is the Wind Turbine Market CAGR?

The Wind Turbine market is expected to see significant CAGR growth over the coming years, at 7.5%.

What is the Forecast period considered for Wind Turbine Market?

The report is forecasted from 2017-2025

What is the base year considered for Wind Turbine Market?

The base year of this report is 2016

Who are the major players in this market?

ACCIONA S.A,DNV-GL,Envision Energy,FFC Energy,Fraunhofer IWES are some of the major players in the global market.

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