Global Wind Electricity Market Outlook, Opportunities And Strategies
Learn about the global wind electricity market through The Business Research Company, which provides information on wind electricity market size, wind electricity market drivers and restraints, wind electricity market players, the COVID-19 impact on the wind electricity market, and more.
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The global wind electricity market size is expected to grow from $89.66 in billion 2021 to $104.18 billion in 2022 at a compound annual growth rate (CAGR) of 16.2%. The growth in the wind electricity market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The wind electricity market is expected to reach $184.97 billion in 2026 at a CAGR of 15.4%.
Growing investments in the clean energy sector is expected to drive innovation in wind electricity manufacturing, thus driving the market during the forecast period.
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The wind electric power generation market consists of sales of wind power and related services. The wind electric power generation industry includes establishments engaged in producing electricity by using wind turbines. The wind energy is converted to electric power through the rotation of the blades of a rotor (between 10 and 25 rpm), producing kinetic energy, which in turn drives a generator that converts the mechanical energy into electricity. The electricity produced is then supplied to electric power transmission systems, which are used to move large quantities of power from generating facilities to substations, and to distribution systems, which are used for short distances to transport electricity to customers locally. This market includes revenues generated from both offshore and onshore wind turbines.
Global Wind Electricity Market Segments Include:
By Connectivity: On-Grid, Off-Grid
By End-User: Industrial, Commercial, Residential
By Location: Onshore, Offshore
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the wind electricity market in 2021.
The hybrid wind-hydro power generation systems has emerged as a key trend in the wind electric power generation market. Hybrid wind-hydro power generation systems generate electricity by combining wind turbines and pumped storage. Using these systems, electric power from wind energy is generated around the clock and electric power from water movement is generated when the water that flows down from the reservoirs. When there is surplus energy, the additional water is pumped back to the reservoirs, acting as a large-scale battery. Due to the simultaneous work of wind turbines and hydro turbines, there is a continuous supply of electricity from the plant.
TBRC’s wind electricity market report covers:
Major Market Players: Ming Yang Smart Energy Group Ltd., NextEra Energy Resources, LLC, Pacific Hydro Pty Ltd., Shell WindEnergy, Inc., TransAlta Corporation, Xinjiang GoldWind Science & Technology Co., Ltd., Berkshire Hathaway Energy, Pattern Energy, IBERDROLA Renewables, EON Climate & Renewables, Alstom, ABO-Wind, Vattenfall, A2 Sea, Tradewind Energy, Geronimo, ReGen Powertech, Leitwind, Doosan Heavy Industries & Construction, Northland Power Inc., Duke Energy Corporation, Electricité de France S.A., American Electric Power (USA), Orsted A/S, DeWind Inc., Dongfang Electric Corporation Limited, Enel Green Power S.p.A., Wind World (India) Limited, Eurus Energy Holdings Corporation, and Guodian United Power Technology Company Limited.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
The Wind Electricity Global Market Report 2021: Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides wind electricity market overviews, analyses and forecasts market size, share, wind electricity market players, wind electricity market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s wind electricity market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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