IMARC Group, a leading market research company, has recently releases report titled “Wind Energy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global wind energy market size, share, growth, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Wind Energy
Wind energy is a renewable energy source harnessed from the natural motion of the wind. It involves capturing the kinetic energy of moving air and converting it into electricity. It typically occurs through the use of wind turbines, which are designed to spin when wind blows over their blades. It is eco-friendly, producing no greenhouse gas emissions or air pollutants. It helps reduce the reliance on fossil fuels, contributing to a cleaner environment and combating climate change. Moreover, wind energy can provide a consistent and reliable source of electricity, as wind is a limitless resource and is widely available across the globe. As it has lower maintenance and operational expenses compared to traditional power plants, the demand for wind energy is rising across the globe.
How Big Is the Wind Energy Market?
The global wind energy market size reached US$ 83.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 136.1 Billion by 2028, exhibiting a growth rate (CAGR) of 7.76% during 2023-2028.
Request Sample Copy of This Report: https://www.imarcgroup.com/wind-energy-market/requestsample
What are the growth prospects and trends in the wind energy industry?
The increasing awareness about climate change and its detrimental effects represents one of the key factors supporting the growth of the market. Wind energy is at the forefront of this transition, as it produces zero greenhouse gas emissions during operation, making it an essential tool in mitigating climate change. Besides this, governing agencies of several countries are implementing supportive policies and financial incentives to encourage the adoption of wind energy.
These can include tax credits, feed-in tariffs, and renewable energy targets, creating a favorable environment for investment in wind projects. In addition, ongoing innovations in wind turbine design and manufacturing are significantly increasing their efficiency and reliability. Larger and efficient turbines are being developed, harnessing wind power more effectively and reducing the overall cost of energy production.
Moreover, the declining cost of wind technology, coupled with economies of scale, is offering lucrative growth opportunities to industry investors. Apart from this, the wind energy sector is becoming a significant source of employment, creating jobs in manufacturing, installation, operation, and maintenance, which is propelling the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Component Insights:
- Turbine
- Support Structure
- Electrical Infrastructure
- Others
Rating Insights:
- ≤ 2 MW
- >2 ≤ 5 MW
- >5 ≤ 8 MW
- >8 ≤ 10 MW
- >10 ≤ 12 MW
- >12 MW
Installation Insights:
- Offshore
- Onshore
Turbine Type Insights:
- Horizontal Axis
- Vertical Axis
Application Insights
- Utility
- Industrial
- Commercial
- Residential
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
ABB 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.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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 Group’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.
Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163