Analyst Insight: Wind Energy Supply Chain Market Sizing Analysis

Wind energy has proven to be one of the most cost-effective renewable technologies in contributing to an affordable and secure low carbon energy mix. It has been, and remains, a crucial part of the energy mix, and its importance is set to grow in the future as more sites are developed. In 2021, the wind power sector is estimated to generate global revenue of $111.3 billion from an annual installed capacity of 64.3 GW. By 2030, the global annual wind power installation is expected to increase at a compound annual growth rate (CAGR) of 2.8% to reach 82.3 GW and generate revenue of $124.1 billion.

The global wind market continues to face challenges as some countries shift to competitive power contract auctions, tenders, and other wind procurement mechanisms that squeeze profit margins throughout the supply chain. As the wind energy market expands actively in emerging markets such as Asia, the supply chain is expected to gradually evolve as well. The Asian independent suppliers lead the global outsourcing market of blades, power converters, and towers, while the European independent suppliers lead in control systems.

This Guidehouse Insights report provides an analysis and key recommendations across the global wind market. This report provides insights, drivers and barriers, and key market inflection points on regions where the wind energy supply chain market is expected to have the greatest influence in the overall energy mix. In addition, Guidehouse Insights continues to monitor COVID-19 impacts on the wind market.