Wind Electricity Market Report 2023

Wind Electricity Global Market Report 2023 – By Connectivity (OnGrid, OffGrid), By Enduser (Industrial, Commercial, Residential), By Location (Onshore, Offshore) – Market Size, Trends, And Global Forecast 2023-2032

Starting Price : $4000.00 | Pages : 175 | Published : January 2023 | Delivery Time: 2-3 business days | Format :

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Wind electricity, which is produced by wind power, refers to the process by which the wind is used to generate mechanical power or electricity. Wind turbines convert the kinetic energy in the wind into mechanical power. 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.

The main connectivity types in the wind electricity market are on-grid and off-grid. A solar power generation system that is connected to the utility grid is known as an on-grid solar power system. The electricity generated by the system is fed into the grid and used to power various gadgets. The different locations include onshore, and offshore and are implemented in industrial, commercial, and residential sectors.

The wind electricity market research report is one of a series of new reports from The Business Research Company that provides wind electricity market statistics, including wind electricity industry global market size, regional shares, competitors with a wind electricity market share, detailed wind electricity market segments, market trends and opportunities, and any further data you may need to thrive in the wind electricity industry. This wind electricity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The global wind electricity market size will grow from $129.22 billion in 2022 to $147.35 billion in 2023 at a compound annual growth rate (CAGR) of 14.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global wind electricity market size is expected to grow to $239.24 billion in 2027 at a CAGR of 12.9%.

Growing investments in the clean energy sector are contributing to the growth of the wind electricity market. Clean energy is energy derived from renewable, zero-emissions sources that do not pollute the environment. Solar, hydro, and wind energy are the primary sources of clean energy. For instance, in 2020, according to 'Africa Business Communities', the UK invested over $66.7 million (£50 million) in clean energy projects in Africa. The UK government has invested in advanced, clean technology and is partnering with African countries to develop sustainable energy sources to meet the African energy demand, which is set to increase by 60% by 2040. Growing investments in the clean energy sector to meet energy demand are driving the wind electricity market.

Weather conditions have always been a major challenge in the wind electricity market. Weather change is related to the most extreme weather conditions from around the globe. For instance, in 2021, SSE PLC., a UK-based energy company, updated that its renewable assets produced 32% less power than expected as low speeds and dry conditions hit the wind and hydro output. Adverse weather conditions have a negative impact on wind electricity, resulting in a decline in wind power generation.

In the wind energy power generation market, hybrid wind-hydro power generation systems have emerged as a key trend. 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 flows down from the reservoirs. When there is surplus energy, the additional water is pumped back into 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. For instance, in 2020, India introduced a 30 GW hybrid solar and wind power project in the Kutch district. By 2022, the country intends to increase renewable energy capacity to 175 GW and by 2030, to 450 GW. Power generation companies should consider embracing the hybrid wind-hydro turbine model to improve their electricity generation outputs.

In July 2021, Mahindra & Mahindra (M&M), an India-based automotive manufacturer, acquired a 31% share in ReNew Sunlight Energy (RSEPL) for $1.6 billion. By acquiring RSEPL shares, M&M will be able to become an exclusive user and use RSEPL's solar energy. As a result, RSEPL has signed an electrical supply deal with the company. ReNew Sunlight Energy (RSEPL) is an India-based wind energy power generation company.

Major players in the wind electricity market are 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.

Asia-Pacific was the largest region in the wind electricity market in 2022. Western Europe was the second largest region in the global wind electricity market. The regions covered in the global wind electricity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the wind electricity market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia.

The wind electricity market includes revenues earned by entities by horizontal-axis turbines and vertical-axis turbines. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The global wind electricity market is segmented -

1) By Connectivity: On-Grid, Off-Grid

2) By End-User: Industrial, Commercial, Residential

3) By Location: Onshore, Offshore

    Table Of Contents

    1. Executive Summary

    2. Wind Electricity Market Characteristics

    3. Wind Electricity Market Trends And Strategies

    4. Wind Electricity Market – Macro Economic Scenario

    4.1 COVID-19 Impact On Wind Electricity Market

    4.2 Ukraine-Russia War Impact On Wind Electricity Market

    4.3 Impact Of High Inflation On Wind Electricity Market

    5. Wind Electricity Market Size And Growth

    5.1. Global Wind Electricity Historic Market, 2017-2022, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Wind Electricity Forecast Market, 2022-2027F, 2032F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Wind Electricity Market Segmentation

    6.1. Global Wind Electricity Market, Segmentation By Connectivity, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    On-Grid

    Off-Grid

    6.2. Global Wind Electricity Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Industrial

    Commercial

    Residential

    6.3. Global Wind Electricity Market, Segmentation By Location, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Onshore

    Offshore

    7. Wind Electricity Market Regional And Country Analysis

    7.1. Global Wind Electricity Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    7.2. Global Wind Electricity Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    8. Asia-Pacific Wind Electricity Market

    8.1. Asia-Pacific Wind Electricity Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    9. China Wind Electricity Market

    9.1. China Wind Electricity Market Overview

    9.2. China Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

    10. India Wind Electricity Market

    10.1. India Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    11. Japan Wind Electricity Market

    11.1. Japan Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    12. Australia Wind Electricity Market

    12.1. Australia Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    13. Indonesia Wind Electricity Market

    13.1. Indonesia Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    14. South Korea Wind Electricity Market

    14.1. South Korea Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    15. Western Europe Wind Electricity Market

    15.1. Western Europe Wind Electricity Market Overview

    15.2. Western Europe Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    16. UK Wind Electricity Market

    16.1. UK Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    17. Germany Wind Electricity Market

    17.1. Germany Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    18. France Wind Electricity Market

    18.3. France Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    19. Eastern Europe Wind Electricity Market

    19.1. Eastern Europe Wind Electricity Market Overview

    19.2. Eastern Europe Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    20. Russia Wind Electricity Market

    20.1. Russia Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    21. North America Wind Electricity Market

    21.1. North America Wind Electricity Market Overview

    21.2. North America Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    22. USA Wind Electricity Market

    22.1. USA Wind Electricity Market Overview

    22.2. USA Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    23. South America Wind Electricity Market

    23.1. South America Wind Electricity Market Overview

    23.2. South America Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    24. Brazil Wind Electricity Market

    24.1. Brazil Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    25. Middle East Wind Electricity Market

    25.1. Middle East Wind Electricity Market Overview

    25.2. Middle East Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    26. Africa Wind Electricity Market

    26.1. Africa Wind Electricity Market Overview

    26.2. Africa Wind Electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    27. Wind Electricity Market Competitive Landscape And Company Profiles

    27.1. Wind Electricity Market Competitive Landscape

    27.2. Wind Electricity Market Company Profiles

    27.2.1. Engie

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. NextEra Energy Resources, LLC

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. Pacific Hydro Pty Ltd.

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Shell WindEnergy, Inc.

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. TransAlta Corporation

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    29. Key Mergers And Acquisitions In The Wind Electricity Market

    29. Wind Electricity Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2015-2022, $ Billion
  • Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Table 3: Global wind electricity Market, Segmentation By Connectivity, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 4: Global wind electricity Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 5: Global wind electricity Market, Segmentation By Location, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 6: Global wind electricity Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 7: Global wind electricity Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 8: Asia-Pacific, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 9: China, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 10: India, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 11: Japan, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 12: Australia, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 13: Indonesia, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 14: South Korea, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 15: Western Europe, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 16: UK, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 17: Germany, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 18: France, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 19: Eastern Europe, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 20: Russia, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 21: North America, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 22: USA, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 23: South America, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 24: Brazil, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 25: Middle East, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 26: Africa, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 27: Engie Financial Performance
  • Table 28: NextEra Energy Resources, LLC Financial Performance
  • Table 29: Pacific Hydro Pty Ltd. Financial Performance
  • Table 30: Shell WindEnergy, Inc. Financial Performance
  • Table 31: TransAlta Corporation Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2015-2022, $ Billion
  • Figure 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Figure 3: Global wind electricity Market, Segmentation By Connectivity, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 4: Global wind electricity Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 5: Global wind electricity Market, Segmentation By Location, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 6: Global wind electricity Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 7: Global wind electricity Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 8: Asia-Pacific, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 9: China, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 10: India, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 11: Japan, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 12: Australia, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 13: Indonesia, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 14: South Korea, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 15: Western Europe, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 16: UK, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 17: Germany, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 18: France, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 19: Eastern Europe, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 20: Russia, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 21: North America, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 22: USA, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 23: South America, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 24: Brazil, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 25: Middle East, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 26: Africa, wind electricity Market, Segmentation By End-use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 27: Engie Financial Performance
  • Figure 28: NextEra Energy Resources, LLC Financial Performance
  • Figure 29: Pacific Hydro Pty Ltd. Financial Performance
  • Figure 30: Shell WindEnergy, Inc. Financial Performance
  • Figure 31: TransAlta Corporation Financial Performance
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