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
Electricity production using wind turbines harness wind energy at a particular location. Advanced computer modelling techniques are used to calculate wind force and the amount of electricity which can be generated from it. The wind turbines are primarily utilized to convert kinetic energy of wind into usable electrical energy. The governments actively supports the power generation from renewable sources. The electricity generation feed-in tariffs (combining the auction costs), tax holidays (tax credits) to the players venturing into wind power generation, and a leverage of preferential grant access are some of the major provisional schemes the governments are undertaking to support power generation using renewable energies. Apart from providing financial support for setting up wind farms, the governments also float schemes to attract domestic and foreign players to venture into wind power.
The additional cost for management of grid, which may result in wind variability, are 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.
Global wind turbine market is segmented by region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In 2016, Asia Pacific led the global wind turbine market and was followed by Europe and North America. Together, the regions accounted a little more than 90% share 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 which are expected to utilize high capacity turbines with capacity up to 15 MW, for offshore operations. The onshore wind turbines capacity ranges from 5kW to 15 MW which are under operation.
The key turbine manufacturers, developers, suppliers and service providers are, but not limited to: ACCIONA S. A, DNV-GL, Envision Energy, Iberdrola Renewables LLC, LM Wind Power, SUZLON Ltd., Vestas Wind Systems A/S, Siemens-Gamesa Renewable Energy Renewable Energy Systems Ltd., ReNew Power Ventures Pvt. Ptd., HUNTSMAN International LLC, PNE Wind AG, NEXANS S.A, MAN Engines, Ventus Wind Turbines, Inc., and Pentagonia Renovables.
Purpose of the Report
The purpose of this strategic research study titled “Wind Turbine Market – Growth, Future Prospects & Competitive Analysis 2017 – 2025” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the wind turbine market.
Target Audience
- Industry Investors
- Wind Turbine Manufacturers
- End User Industries
USP and Key Offerings
The report titled “Wind Turbine Market – Growth, Future Prospects & Competitive Analysis 2017 – 2025 offers strategic insights into the overall wind turbine market along with the market size and estimates for the duration 2017 to 2025. The said research study covers in-depth analysis of multiple market segments based on application turbine capacity type and cross-sectional study across different regional markets.
In order to help strategic decision makers, the report also includes competitive profiling of the leading players in wind turbine market and key business strategies adopted by them. Other in-depth analysis provided in the report includes:
- Current and future market trends to justify the forthcoming attractive markets within the wind turbine industry
- Market drivers, market impediments, and their impact on the market growth
- In-depth competitive environment analysis
- Historical market size data (2015 and 2016)
Overall, the research study provides a holistic view of the wind turbine market, offering market size and estimates for the period from 2015 to 2025, keeping in mind the above mentioned factors.
On the basis of its turbine capacity, the global wind turbine market is categorized into following segments:
- Up to 1 MW
- 1-3 MW
- 3-10 MW
- 10 MW and Above
A group of wind turbines is collectively termed as a wind farm. A wind farm may consists of a few wind turbines to several hundred wind turbines distributed over designated area both on onshore and offshore. The onshore wind turbines, there is high land utilization since the spacing between the individual turbines is high. The spacing between two turbines (wind mills) is majorly used for agricultural purposes. The other usage of the spacing include, utility grid connection and solar power (solar cell) combined with power generated with the wind turbines.
The approximate size of the onshore wind turbines which are manufactured today is 3 MW (2.5 – 3 MW). An approximate size of the offshore wind turbines which are manufactured today is 3.6 – 4 MW. 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 which are expected to utilize high capacity turbines with capacity up to 15 MW, for offshore operations. The onshore wind turbines capacity ranges from 5kW to 15 MW which are under operation.
On the basis of its applications, the global wind turbine market is categorized into 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 as a proven alternative to conventional fossil fuels. It is abundant, renewable, extensively distributed (onshore-offshore), uncontaminated, no greenhouse gas emissions during operation.
A group of wind turbines is collectively termed as a wind farm. A wind farm may consists of a few wind turbines to several hundred wind turbines distributed over designated area both on onshore and offshore. The onshore wind turbines, there is high land utilization since the spacing between the individual turbines is high. The spacing between two turbines (wind mills) is majorly used for agricultural purposes. The other usage of the spacing include, utility grid connection and solar power (solar cell) combined with power generated with the wind turbines.
The construction of large wind farms in water bodies (lakes, seas, and oceans) to generate electric power are typically termed as offshore wind turbines. Some of the major advantage of offshore installations are: the availability of most powerful wind forces, the fuel (wind) is uninterrupted and continuous, and the net power generation is continuous than land based wind power projects.
Based on geographical distribution, the global wind turbine market is segmented into following categories
- North America
- U.S.
- Canada
- Europe
- Denmark
- Portugal
- Germany
- Ireland
- U.K.
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Uruguay
- Peru
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Kenya
- Rest of Middle East & Africa
Global wind turbine market is segmented, by Region, into North America, Europe, Asia Pacific, Latin America and Middle East & Africa regions. In 2016, the global wind turbine market was led by Denmark, the U.K., China, the U.S., Germany, and 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 country to country and region to region. Feed in tariffs, feed in renewable portfolio standards (combining the auctions), and energy operation & creation tax credits are the provision schemes that are set up. Besides financial support, wind power has the leverage of preferential grant access globally. The additional cost for management of grid are 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.
By 2025, the Asia Pacific, North America and Europe would be the high growth regions. Asia Pacific, with countries like China and India, is expected to have the highest market outreach than any other region. The recently concluded Paris Climate Change Conference has mandated energy generators to look into renewable sector for power needs. This has already made an impact on the electricity generation cost. Over all electricity generation cost reduction is expected to happen with Asia Pacific and other regions to meet the carbon emissions standards. 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.
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)
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)
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