Market Research Future Insights
The global onshore wind energy market is expected to grow from USD 50.88 billion in 2022 to USD 71.11 billion by 2030, at a CAGR of 4.90% during the forecast period. This growth is attributed to a number of factors, including:
- Increasing demand for renewable energy: Governments and businesses around the world are setting ambitious targets for the deployment of renewable energy, and onshore wind is one of the most cost-effective and widely available renewable energy sources.
- Technological advancements: Onshore wind turbine technology has advanced significantly in recent years, making turbines more efficient and reliable. This has reduced the cost of onshore wind energy and made it more competitive with other energy sources.
- Favorable government policies: Many governments offer financial incentives and other support mechanisms to encourage the development of onshore wind energy projects
Onshore wind energy is a form of renewable energy that harnesses the power of the wind to generate electricity. Onshore wind turbines are typically installed on land-based wind farms and can range in size from small, individual turbines to large-scale wind farms that cover several square miles.
The pandemic has caused delays in the construction of new wind farms and disruptions to supply chains, leading to a slowdown in demand for onshore wind energy. Additionally, the pandemic has renewed focus on the importance of decentralized and sustainable energy solutions, which has driven demand for onshore wind energy in some regions.
Key Players
- Siemens AG (Germany)
- Envision energy (China)
- General Electric Wind Energy (U.S.)
- Suzlon (India)
- Vestas Wind System A/S (Denmark)
- Enercon GmbH (Germany)
- Mitsubishi Power Systems (Japan)
- Nordex S.E. (Germany)
- Repower (Switzerland)
- Gazelle Wind Turbines (U.K.)
- Clipper Wind Power (UK), among others
Regional Analysis
The Asia-Pacific region is one of the fastest-growing markets for onshore wind energy, driven by supportive government policies, increasing investment in renewable energy, and growing demand for clean and sustainable energy solutions. Countries such as China, India, and Australia are leading the way in terms of the deployment of onshore wind energy, and the region is expected to continue to play a major role in the growth of this market in the coming years.
Market Segmentation
The Global Wind power generation market has been segmented into end-use and application.
Based on the end user, the market has been segmented into Utilities, Commercial & Industrial, and Hybrid power.
Based on the application, the market has been segmented into below 500 KW, 500 KW to 2 MW, and above 2 MW.
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